BARNEY FLETCHER CRAM FINAL FULLY SOLVED
TEST PAPER GRADED A+
◉ False.
Answer: In an ideal market, the forces of supply and demand are
always chaotic. T/F?
◉ his or her broker-employer.
Answer: A licensed real estate salesperson may legally accept an
extra commission for a difficult sale from:
◉ A.
Answer: Owner Kelly is leaving the area for a one year period. She
asks salesperson Boren to manage her rental house for $45/mo
while she is gone. Which of the following is true in this situation?
A. Boren must work through her broker
B. Boren must put the $45 in an interest bearing escrow account
C. This is OK because the compensation is less than $1,000
D. This is OK because the time element is not more than one year
◉ Broker.
Answer: A salesperson represents the _____
,◉ A.
Answer: Which of the following is required to hold a real estate
license?
A. A person who, for compensation, helps sell his neighbor's home
B. A government employee selling land owned by the government
C. A property manager leasing property in the course of his
employment for the owner.
D. All of these choices
◉ False.
Answer: Our free enterprise system is free from government
economic controls. T/F?
◉ the general public.
Answer: The purpose of a state real estate regulatory board is to
protect:
◉ False.
Answer: A mushroom farm is industrial property. T/F?
◉ C.
,Answer: Special purpose properties include all of the following
EXCEPT:
A. Churches
B. Hospitals
C. Industrial park
D. Nursing homes
◉ A.
Answer: Commercial property includes all but which of the
following?
A. horse ranch
B. office buildings
C. restaurants
D. vacant land suitable for commercial development
◉ False.
Answer: A hospital is a commercial property. T/F?
◉ False.
Answer: An industrial park is commercial property. T/F?
◉ D.
, Answer: Which of the following is not considered a legal
description?
A. Metes and bounds
B. Lot and block
C. Government method of survey
D. Street address, city, state and zip code
◉ Monuments method.
Answer: The least accurate method of legal description is the:
◉ 640.
Answer: If a person owns a square parcel of land that is 1 mile on
each side, the person owns how many acres?
◉ True.
Answer: The government survey method is used in the majority of
states in the US. T/F?
◉ A.
Answer: In a real estate contract, the legal description of the
property describes the:
A. Land only
B. Land and improvements
TEST PAPER GRADED A+
◉ False.
Answer: In an ideal market, the forces of supply and demand are
always chaotic. T/F?
◉ his or her broker-employer.
Answer: A licensed real estate salesperson may legally accept an
extra commission for a difficult sale from:
◉ A.
Answer: Owner Kelly is leaving the area for a one year period. She
asks salesperson Boren to manage her rental house for $45/mo
while she is gone. Which of the following is true in this situation?
A. Boren must work through her broker
B. Boren must put the $45 in an interest bearing escrow account
C. This is OK because the compensation is less than $1,000
D. This is OK because the time element is not more than one year
◉ Broker.
Answer: A salesperson represents the _____
,◉ A.
Answer: Which of the following is required to hold a real estate
license?
A. A person who, for compensation, helps sell his neighbor's home
B. A government employee selling land owned by the government
C. A property manager leasing property in the course of his
employment for the owner.
D. All of these choices
◉ False.
Answer: Our free enterprise system is free from government
economic controls. T/F?
◉ the general public.
Answer: The purpose of a state real estate regulatory board is to
protect:
◉ False.
Answer: A mushroom farm is industrial property. T/F?
◉ C.
,Answer: Special purpose properties include all of the following
EXCEPT:
A. Churches
B. Hospitals
C. Industrial park
D. Nursing homes
◉ A.
Answer: Commercial property includes all but which of the
following?
A. horse ranch
B. office buildings
C. restaurants
D. vacant land suitable for commercial development
◉ False.
Answer: A hospital is a commercial property. T/F?
◉ False.
Answer: An industrial park is commercial property. T/F?
◉ D.
, Answer: Which of the following is not considered a legal
description?
A. Metes and bounds
B. Lot and block
C. Government method of survey
D. Street address, city, state and zip code
◉ Monuments method.
Answer: The least accurate method of legal description is the:
◉ 640.
Answer: If a person owns a square parcel of land that is 1 mile on
each side, the person owns how many acres?
◉ True.
Answer: The government survey method is used in the majority of
states in the US. T/F?
◉ A.
Answer: In a real estate contract, the legal description of the
property describes the:
A. Land only
B. Land and improvements
