Gold Coast School Real Estate
Questions Chapters 1-19 with Answers
1.1. The real estate market is local in nature what does that
mean?
Answer Information about real estate can best be found through local
sources, which makes the real estate market local in nature
2.2. You would expect a real estate licensee to perform all of
the following activities, EXCEPT
A. Providing expert knowledge about construction methods and
materials
B. Providing expert knowledge to members of the public in the
performance of specified services of real estate
C. Following up with customers and clients after a
transaction has been completed
D. Acting as an intermediary, or agent, between two or more
people in the negotiation of the sale, purchase, or lease of
real estate
Answer A. Providing expert knowledge about construction methods
and materials
3.3. A real estate licensee is expected to have expert
knowledge in what three areas?
,A. Valuation, marketing, and property transfer
B. Mortgages, property taxes, and homeowners' insurance
policies
C. Residential real estate, commercial real estate, and surveys
D. Area schools, local crime rates, and proximity to potential
employers
Answer A. Valuation, marketing, and property transfer
4.4. What is a comparative market analysis?
A. A comparison of assessed values in the same neighborhood
B. A value estimate based on recent sales of identical properties
in the same neighborhood
C. A value estimate based in recent sales of similar properties in
the same neighborhood
D. An appraisal of the value of a property
Answer C. A value estimate based in recent sales of similar properties in
the same neighborhood
5.5. Which type of valuation must be performed in accordance
with the Uni- form Standards of Professional Appraisal Practice
(USPAP)
A. Appraisal in a federally-related transaction
B. Broker price opinion (BPO)
C. Comparative market analysis (CMA)
D. None of the above
, Answer A. Appraisal in a federally-related transaction
6.6. Many real estate licensees engage in "farming". Which of
the following best describes what that means?
A. They conduct open houses on weekends
B. They use marketing vehicles such as direct mailing and
advertisements in real estate magazines
C. They concentrate on the sale of agricultural properties
D.They concentrate on one type of property or in a particular
neighborhood
Answer D. They concentrate on one type of property or in a particular
neighborhood
7.All of the following would be considered commercial property,
EXCEPT
A. an office building that accommodates three tenants
B. A high-rise apartment building in the downtown area of the
city
C. A shopping center that adjoins a residential neighborhood
D. A large house that has been subdivided into four
apartments
Answer D. A large house that has been subdivided into four
apartments
8.If the sale of a business involves the transfer of ownership
, of shares of stock, what additional requirement is imposed?
A. The real estate licensee must be associated with a brokerage
firm
B. A brokerage firm must be brought in to handle the transaction
C. The real estate licensee must have a securities license
D.The real estate licensee must have experience as a
stockbroker
Answer C. The real estate licensee must have a securities license
9.Which real estate professional is expected to have the
greatest level of knowledge and experience?
Answer a real estate counselor
10.all of the following are responsibilities of a property manager,
EXCEPT
A. Handling the payment of taxes, insurance, and operating
expenses for the property
B. Evaluating the investment value of the property
C. Locating tenants, collecting rents, maintaining records,
and scheduling maintenance
D. Protecting the owner's investment and maximizing the
profitability of the investment
Answer B. Evaluating the investment value of the property
11.According to F.S. 475, all of the following transactions
Questions Chapters 1-19 with Answers
1.1. The real estate market is local in nature what does that
mean?
Answer Information about real estate can best be found through local
sources, which makes the real estate market local in nature
2.2. You would expect a real estate licensee to perform all of
the following activities, EXCEPT
A. Providing expert knowledge about construction methods and
materials
B. Providing expert knowledge to members of the public in the
performance of specified services of real estate
C. Following up with customers and clients after a
transaction has been completed
D. Acting as an intermediary, or agent, between two or more
people in the negotiation of the sale, purchase, or lease of
real estate
Answer A. Providing expert knowledge about construction methods
and materials
3.3. A real estate licensee is expected to have expert
knowledge in what three areas?
,A. Valuation, marketing, and property transfer
B. Mortgages, property taxes, and homeowners' insurance
policies
C. Residential real estate, commercial real estate, and surveys
D. Area schools, local crime rates, and proximity to potential
employers
Answer A. Valuation, marketing, and property transfer
4.4. What is a comparative market analysis?
A. A comparison of assessed values in the same neighborhood
B. A value estimate based on recent sales of identical properties
in the same neighborhood
C. A value estimate based in recent sales of similar properties in
the same neighborhood
D. An appraisal of the value of a property
Answer C. A value estimate based in recent sales of similar properties in
the same neighborhood
5.5. Which type of valuation must be performed in accordance
with the Uni- form Standards of Professional Appraisal Practice
(USPAP)
A. Appraisal in a federally-related transaction
B. Broker price opinion (BPO)
C. Comparative market analysis (CMA)
D. None of the above
, Answer A. Appraisal in a federally-related transaction
6.6. Many real estate licensees engage in "farming". Which of
the following best describes what that means?
A. They conduct open houses on weekends
B. They use marketing vehicles such as direct mailing and
advertisements in real estate magazines
C. They concentrate on the sale of agricultural properties
D.They concentrate on one type of property or in a particular
neighborhood
Answer D. They concentrate on one type of property or in a particular
neighborhood
7.All of the following would be considered commercial property,
EXCEPT
A. an office building that accommodates three tenants
B. A high-rise apartment building in the downtown area of the
city
C. A shopping center that adjoins a residential neighborhood
D. A large house that has been subdivided into four
apartments
Answer D. A large house that has been subdivided into four
apartments
8.If the sale of a business involves the transfer of ownership
, of shares of stock, what additional requirement is imposed?
A. The real estate licensee must be associated with a brokerage
firm
B. A brokerage firm must be brought in to handle the transaction
C. The real estate licensee must have a securities license
D.The real estate licensee must have experience as a
stockbroker
Answer C. The real estate licensee must have a securities license
9.Which real estate professional is expected to have the
greatest level of knowledge and experience?
Answer a real estate counselor
10.all of the following are responsibilities of a property manager,
EXCEPT
A. Handling the payment of taxes, insurance, and operating
expenses for the property
B. Evaluating the investment value of the property
C. Locating tenants, collecting rents, maintaining records,
and scheduling maintenance
D. Protecting the owner's investment and maximizing the
profitability of the investment
Answer B. Evaluating the investment value of the property
11.According to F.S. 475, all of the following transactions
