Real Estate Final Exam Review (1) TEST 2023 WITH 100% CORRECT ANSWERS

FINAL EXAM REVIEW: CHAPTER 1: 1. A sale’s associate has decided to concentrate on trying to obtain listings from a particular neighborhood, the associate believes this shall increase knowledge of the market and improve the likelihood of success. Which term refers to this approach? (pg. 2) a. Farming 2. Real estate professionals provide expert knowledge concerning real estate transactions. All of the following are areas of expertise licensees are expected to possess, EXCEPT: a. Valuation b. Marketing c. Property transfer d. Construction 3. A developer that acquires a large tract of land to build houses and also builds a model center from where sales will be made. The developer is engaged in which type of building construction? a. Specific building b. Tract building c. Custom building d. Big building 4. Real estate business is influences by government at the local estate and federal levels, which action will take place at the local level? (pg. 9) a. Building moratorium b. Monetary policy c. Documentary stamp tax d. Discount point limitations