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Perry Real Estate Final Detailed Questions And Detailed
Answers Exam ||Just Out!!!
Advantages of an investment in real estate include all of the
following EXCEPT
-the use of leverage to increase rates of return
-tax deductions
-the possibility of a tax-deferred exchange
-high liquidity - ANSWER-high liquidity
The defeasance clause in a mortgage requires the mortgagee to
execute a(n)
-assignment of mortgage
-satisfaction of mortgage
-subordination agreement
-partial release agreement - ANSWER-satisfaction of mortgage
Which of the following investments can not be depreciated?
-commercial building
-single family home
-100 acres of vacant land
-shopping mall - ANSWER-100 acres of vacant land
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a broker who is the agent of the buyer should do which of the
following?
-present to the seller only offers that are acceptable
-disclose to the seller that the buyer is a minority person
-disclose to the seller the maximum price the buyer is willing to
pay
-advise the buyer if the listing price of the seller's house is
unrealistic - ANSWER-advise the buyer if the listing price of the
seller's house is unrealistic
a sales associate with one year of experience is managing a
broker's branch office, which is 45 miles from the main office.
Which of the following is TRUE?
-the sales associate is acting legally because she has enough
experience
-the sales associate is acting illegally because she does not have
enough experience
-the sales associate's experience does natter under license law
-none of the above - ANSWER-The sales associate is acting
illegally because she does not have enough experience
a recorded subdivision plat is used in the
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-metes and bounds system
-rectangular survey system
-geodetic survey system
-lot and block system - ANSWER-lot and block system
The Commission cannot have more than __________ members
from one political party - ANSWER-4
A parcel of land described as "the NW 1/4 and the SW 1/4 of
Section 6, T4N, R8W of the Third Principal Meridian" was sold
for $2,500 per acre. The listing broker will receive a 5%
commission on the total sales price. How much will the broker
receive? - ANSWER-$5,000
What is the cost of constructing a fence 6 ft 6 in high around a
lot measuring 90' x 175', if the cost of erecting the fence is
$1,25 per linear ft and the cost of material is $.825 per sg ft of
fence? - ANSWER-$3,505
A building is valued as $215,000 and contains 4 apartments that
rent for $470 each per month. The owner estimates that the
net operating income is 65% of the gross rental receipts. What
is the capitalization rate?
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-3.7%
-14.2%
-10.5%
-6.8% - ANSWER-6.8%
Carbon monoxide is not
-quickly absorbed in the body
-a result of incomplete combustion
-a natural result of combustion
-easy to detect - ANSWER-Carbon monoxide is not easy to
detect
When compared with a 30 year payment period, taking out a
loan with a 20 year payment period would result in
-lower monthly payments
-higher monthly payments
-greater impound requirements
-slower equity buildup - ANSWER-higher monthly payments
All of the following are subject to real property ownership rights
EXCEPT
Perry Real Estate Final Detailed Questions And Detailed
Answers Exam ||Just Out!!!
Advantages of an investment in real estate include all of the
following EXCEPT
-the use of leverage to increase rates of return
-tax deductions
-the possibility of a tax-deferred exchange
-high liquidity - ANSWER-high liquidity
The defeasance clause in a mortgage requires the mortgagee to
execute a(n)
-assignment of mortgage
-satisfaction of mortgage
-subordination agreement
-partial release agreement - ANSWER-satisfaction of mortgage
Which of the following investments can not be depreciated?
-commercial building
-single family home
-100 acres of vacant land
-shopping mall - ANSWER-100 acres of vacant land
,2|Page
a broker who is the agent of the buyer should do which of the
following?
-present to the seller only offers that are acceptable
-disclose to the seller that the buyer is a minority person
-disclose to the seller the maximum price the buyer is willing to
pay
-advise the buyer if the listing price of the seller's house is
unrealistic - ANSWER-advise the buyer if the listing price of the
seller's house is unrealistic
a sales associate with one year of experience is managing a
broker's branch office, which is 45 miles from the main office.
Which of the following is TRUE?
-the sales associate is acting legally because she has enough
experience
-the sales associate is acting illegally because she does not have
enough experience
-the sales associate's experience does natter under license law
-none of the above - ANSWER-The sales associate is acting
illegally because she does not have enough experience
a recorded subdivision plat is used in the
,3|Page
-metes and bounds system
-rectangular survey system
-geodetic survey system
-lot and block system - ANSWER-lot and block system
The Commission cannot have more than __________ members
from one political party - ANSWER-4
A parcel of land described as "the NW 1/4 and the SW 1/4 of
Section 6, T4N, R8W of the Third Principal Meridian" was sold
for $2,500 per acre. The listing broker will receive a 5%
commission on the total sales price. How much will the broker
receive? - ANSWER-$5,000
What is the cost of constructing a fence 6 ft 6 in high around a
lot measuring 90' x 175', if the cost of erecting the fence is
$1,25 per linear ft and the cost of material is $.825 per sg ft of
fence? - ANSWER-$3,505
A building is valued as $215,000 and contains 4 apartments that
rent for $470 each per month. The owner estimates that the
net operating income is 65% of the gross rental receipts. What
is the capitalization rate?
, 4|Page
-3.7%
-14.2%
-10.5%
-6.8% - ANSWER-6.8%
Carbon monoxide is not
-quickly absorbed in the body
-a result of incomplete combustion
-a natural result of combustion
-easy to detect - ANSWER-Carbon monoxide is not easy to
detect
When compared with a 30 year payment period, taking out a
loan with a 20 year payment period would result in
-lower monthly payments
-higher monthly payments
-greater impound requirements
-slower equity buildup - ANSWER-higher monthly payments
All of the following are subject to real property ownership rights
EXCEPT
