CIVIL ENGINEERING BOARD RETAKE EXAM
WITH DETAILED ANSWERS
What does REO stand for?
Real estate office
Real estate owned
Rental equality ownership
Rental equal opportunity - answer-Real estate
owned
______ is a process in which an appraiser
determines a probable range of values for a
property by comparing a group of comparable
sales to the subject. The appraiser attempts to
include both superior and inferior units of
comparison, such as age, transaction price, etc.
Bracketing
,Bridging
Substituting
Surrounding - answer-Bracketing
The number of properties available describes
this factor that influences value.
Demand
Scarcity
Transferability
Utility - answer-Scarcity
Related to demand, and reflects the supply of
property, or lack thereof.
Which of the following statements about agents
and the duty of obedience is true?
,An agent can ignore a client's instructions if
they negatively affect the agent's commission.
An agent should carry out the client's
instructions as long as they are within the law.
An agent should never question a client's
instructions.
The duty of obedience extends beyond the
termination of the agency agreement. -
answer-An agent should carry out the client's
instructions as long as they are within the law.
Carson is purchasing a $600,000 property by
obtaining an 80/20 loan. How much is Carson
financing?
$120,000
$420,000
$480,000
$600,000 - answer-$480,000
, Appraiser Niles uses ______ to determine a
range of values based on comparing a subject
property to comparable sales. He makes sure
to use some comparables that lack features of
his subject property, and others that have even
more desirable features, to balance out the
comparison.
Bracketing
Competition
Correlation
Substituting - answer-Bracketing
What does the rectangular government survey
system use as the basis for legal descriptions?
Principal meridians, base lines, and sections
Reference to a subdivision plat
WITH DETAILED ANSWERS
What does REO stand for?
Real estate office
Real estate owned
Rental equality ownership
Rental equal opportunity - answer-Real estate
owned
______ is a process in which an appraiser
determines a probable range of values for a
property by comparing a group of comparable
sales to the subject. The appraiser attempts to
include both superior and inferior units of
comparison, such as age, transaction price, etc.
Bracketing
,Bridging
Substituting
Surrounding - answer-Bracketing
The number of properties available describes
this factor that influences value.
Demand
Scarcity
Transferability
Utility - answer-Scarcity
Related to demand, and reflects the supply of
property, or lack thereof.
Which of the following statements about agents
and the duty of obedience is true?
,An agent can ignore a client's instructions if
they negatively affect the agent's commission.
An agent should carry out the client's
instructions as long as they are within the law.
An agent should never question a client's
instructions.
The duty of obedience extends beyond the
termination of the agency agreement. -
answer-An agent should carry out the client's
instructions as long as they are within the law.
Carson is purchasing a $600,000 property by
obtaining an 80/20 loan. How much is Carson
financing?
$120,000
$420,000
$480,000
$600,000 - answer-$480,000
, Appraiser Niles uses ______ to determine a
range of values based on comparing a subject
property to comparable sales. He makes sure
to use some comparables that lack features of
his subject property, and others that have even
more desirable features, to balance out the
comparison.
Bracketing
Competition
Correlation
Substituting - answer-Bracketing
What does the rectangular government survey
system use as the basis for legal descriptions?
Principal meridians, base lines, and sections
Reference to a subdivision plat
