Real Estate Principles Exam A+ Grade Assured Complete Solutions And Verified Answers

REAL ESTATE EXAM
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Exam Solution
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Real Estate Principles and Practices Exam 1 2026 A+ G
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RADE ASSURED COMPLETE SOLUTIONS AND VERIFIED
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ANSWERS (50BC8) ms




QUESTION 1 ms




Term
ANSWER

Definition



QUESTION 2 ms




Broker
ANSWER

intermediary b/w a buyer and a seller for sale, purchase or rental of a property -licensed to do so -
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hires agents
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QUESTION 3 ms




Dual Agency
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ANSWER

broker represents both buyer and seller in the same deal -both sides need full knowledge
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QUESTION 4 ms




Agent
ANSWER

sales person/representative -
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can do nothing by himself, not even take the test without a broker sponsor
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,QUESTION 5 ms




Appraisal
ANSWER

attempting to assign value -must be licensed in Ohio
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QUESTION 6 ms




Home Inspectionms




ANSWER

conditions of homes (plumbing, electric, structural, foundation, roof, and heating and cooling system)
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-usually does not include environmental testing
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QUESTION 7 ms




Property Management ms




ANSWER

managing a rental property -good way to learn investment reality -
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finding new tenants, collecting rent, altering/constructing new space for tenants, ordering repairs -
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specific requirements set forth in the management agreement -
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maximize owner's return on investment
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QUESTION 8 ms




Real Estate Development
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ANSWER

adding value to land -
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must like diversity, strategy/visualization, marketing, finance, legal, get in get out and move on -on-
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site: new homes, pools -off-site: water lines and storm sewers made on public land
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QUESTION 9 ms




Finance
ANSWER

mortgage banking/lending/brokerage
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QUESTION 10 ms

, Law
ANSWER

specializing in real estate ms ms ms




QUESTION 11 ms




Education
ANSWER

licensing programs/ technical aspects of tax and exchange law seminars
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QUESTION 12 ms




Counseling
ANSWER

inspector, loan hand holding, how to negotiate -wave of the future! to balance the playing field
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QUESTION 13 ms




Areas of Real Estate Specialization (11)
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ANSWER

1. Broker 2. Agent 3. Appraisal 4. Home Inspection 5. Property Management 6. Real Estate Developm
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ent 7. Finance 8. Law 9. Education 10. Contruction 11. Counseling
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QUESTION 14 ms




Types of Real Property (5)
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ANSWER

1. Residential 2. Commercial 3. Industrial 4. Agricultural 5. Special Purpose
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QUESTION 15 ms




Residential - type of real property ms ms ms ms ms




ANSWER

all real estate used for single family or multifamily housing, whether in urban, suburban, or rural ar
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eas -manufactured housing, apartments, condos, co-ops, time shares, multi and single family
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