CE SHOP EXAM REVIEW SOLVED QUESTIONS COMPLETE ANSWERS GRADED A PLUS
CE SHOP Final EXAM Paper 2026/2027 Questions
and Answers Verified Solutions Latest Update
Question:
" amortization schedule/chart.
Answer:
"A table that shows how much of each payment will apply toward principal and how much toward
interest for the loan term; also shows decrease in loan balance until paid off Ex. If borrowers want to
see how much of their payment is going toward principal, they can check their mortgage statement,
or an amortization schedule.
Question:
" amperage.
Answer:
"Amount of current or electricity flowing through electrical wires Ex. The pulses were of high
voltage but low amperage, which makes them, like static electricity, safe but an unpleasant
experience.
Question:
" anchor store/anchor tenant.
Answer:
"A large commercial tenant that draws in traffic to a mall or shopping center Ex. Janice was excited
to place her boutique in the same shopping center as Bloomingdales. Having such a great anchor
store nearby was good for business.
Question:
" annexation.
Answer:
,"The conversion of personal property into real property Ex. When Mrs. Goldman planted the
rosebushes in her yard, the resultant annexation meant that the rosebushes were now made part of
the property.
Question:
" annual percentage rate (APR).
Answer:
"A rate derived according to a government formula that's intended to reflect the true cost of
financing that allows consumers to compare loan products; includes financing fees, so it will always
be higher than the actual interest rate on a loan Ex. An interest rate of 6% may sound better than one
of 6.25%, but it's important to also compare annual percentage rate (APR) figures to see the true cost
of financing.
Question:
" appraisal.
Answer:
"An estimate of value as of a specific date and for a specific use Ex. The appraisal on Myra's
property was for its use as a bed-and- breakfast today.
Question:
" appraisal contingency.
Answer:
"Contract clause that, if the property doesn't appraise at or above the sales price, the buyer is
allowed to terminate Ex. If the appraised value is close to the sales price, often the parties can reach
agreement. If not, and an appraisal contingency is in place, the buyer can use the fact that the
property didn't appraise to terminate and receive a refund of earnest money deposited.
Question:
" appraised value.
Answer:
,"An estimate of value as of a specific date, and for a specific use Ex. Barbara refinanced her
property two years ago. At that time, the appraised value was $450,000. If she puts it on the market
today, she can't use the appraised value as list price, because it's no longer valid.
Question:
" appraiser.
Answer:
"One who performs an appraisal Ex. Vladimir the appraiser is certified to provide real estate
appraisals for his clients.
Question:
" appreciation.
Answer:
"Increase in property value Ex. Due to appreciation, Kerry's investment property had doubled in
value over the eight years she had held it.
Question:
" appurtenances.
Answer:
"Automatic rights inherent in property ownership Ex. Jason loved being a property owner. He
decided not to sell off any of his appurtenances to others. He kept all of his bundle of sticks together.
Question:
" asbestos.
Answer:
"A fibrous mineral found in rocks and soil, previously used in construction materials for its
insulating and fire-retardant strength Ex. Many homes built before 1973 likely contain asbestos
products. These might be in insulation, ceiling or floor tiles, or in exterior shingles.
, Question:
" asbestosis.
Answer:
"A chronic lung disease caused by breathing asbestos fibers Ex. Asbestosis makes breathing
difficult and can lead to death.
Question:
" assemblage.
Answer:
"The process of combining separate adjacent parcels of land into one piece Ex. Through the princple
of assemblage, by purchasing several adjoining parcels, the combined parcel was worth far more.
Question:
" assessed value.
Answer:
"The dollar amount to which the local tax rate is multiplied to determine property tax owed Ex.
Although the appraised value of Myra's bed and breakfast was $600,000, her tax assessed value was
only $475,000.
Question:
" assessment.
Answer:
"Charge against a property; for instance, condominiums will have periodic assessments for
maintenance and repairs of common areas Ex. Before a condominium owner can close on a sale of
the condo, the owner must bring all assessments up to date so the buyer is not left paying for
assessments owed from the time the seller was in possession.
Question:
" asset.
CE SHOP Final EXAM Paper 2026/2027 Questions
and Answers Verified Solutions Latest Update
Question:
" amortization schedule/chart.
Answer:
"A table that shows how much of each payment will apply toward principal and how much toward
interest for the loan term; also shows decrease in loan balance until paid off Ex. If borrowers want to
see how much of their payment is going toward principal, they can check their mortgage statement,
or an amortization schedule.
Question:
" amperage.
Answer:
"Amount of current or electricity flowing through electrical wires Ex. The pulses were of high
voltage but low amperage, which makes them, like static electricity, safe but an unpleasant
experience.
Question:
" anchor store/anchor tenant.
Answer:
"A large commercial tenant that draws in traffic to a mall or shopping center Ex. Janice was excited
to place her boutique in the same shopping center as Bloomingdales. Having such a great anchor
store nearby was good for business.
Question:
" annexation.
Answer:
,"The conversion of personal property into real property Ex. When Mrs. Goldman planted the
rosebushes in her yard, the resultant annexation meant that the rosebushes were now made part of
the property.
Question:
" annual percentage rate (APR).
Answer:
"A rate derived according to a government formula that's intended to reflect the true cost of
financing that allows consumers to compare loan products; includes financing fees, so it will always
be higher than the actual interest rate on a loan Ex. An interest rate of 6% may sound better than one
of 6.25%, but it's important to also compare annual percentage rate (APR) figures to see the true cost
of financing.
Question:
" appraisal.
Answer:
"An estimate of value as of a specific date and for a specific use Ex. The appraisal on Myra's
property was for its use as a bed-and- breakfast today.
Question:
" appraisal contingency.
Answer:
"Contract clause that, if the property doesn't appraise at or above the sales price, the buyer is
allowed to terminate Ex. If the appraised value is close to the sales price, often the parties can reach
agreement. If not, and an appraisal contingency is in place, the buyer can use the fact that the
property didn't appraise to terminate and receive a refund of earnest money deposited.
Question:
" appraised value.
Answer:
,"An estimate of value as of a specific date, and for a specific use Ex. Barbara refinanced her
property two years ago. At that time, the appraised value was $450,000. If she puts it on the market
today, she can't use the appraised value as list price, because it's no longer valid.
Question:
" appraiser.
Answer:
"One who performs an appraisal Ex. Vladimir the appraiser is certified to provide real estate
appraisals for his clients.
Question:
" appreciation.
Answer:
"Increase in property value Ex. Due to appreciation, Kerry's investment property had doubled in
value over the eight years she had held it.
Question:
" appurtenances.
Answer:
"Automatic rights inherent in property ownership Ex. Jason loved being a property owner. He
decided not to sell off any of his appurtenances to others. He kept all of his bundle of sticks together.
Question:
" asbestos.
Answer:
"A fibrous mineral found in rocks and soil, previously used in construction materials for its
insulating and fire-retardant strength Ex. Many homes built before 1973 likely contain asbestos
products. These might be in insulation, ceiling or floor tiles, or in exterior shingles.
, Question:
" asbestosis.
Answer:
"A chronic lung disease caused by breathing asbestos fibers Ex. Asbestosis makes breathing
difficult and can lead to death.
Question:
" assemblage.
Answer:
"The process of combining separate adjacent parcels of land into one piece Ex. Through the princple
of assemblage, by purchasing several adjoining parcels, the combined parcel was worth far more.
Question:
" assessed value.
Answer:
"The dollar amount to which the local tax rate is multiplied to determine property tax owed Ex.
Although the appraised value of Myra's bed and breakfast was $600,000, her tax assessed value was
only $475,000.
Question:
" assessment.
Answer:
"Charge against a property; for instance, condominiums will have periodic assessments for
maintenance and repairs of common areas Ex. Before a condominium owner can close on a sale of
the condo, the owner must bring all assessments up to date so the buyer is not left paying for
assessments owed from the time the seller was in possession.
Question:
" asset.
