Pearson VUE practice test
c. Bill of sale - ANS1A buyer purchases a furnished condominimum apartment as an
investment. The document that evidences the buyer's ownership of the furniture is a
a. Special warranty deed
b. Homeowner's insurance policy
c. Bill of sale
d. Buyers inventory
d. Accrued depreciation - ANSUsing the cost approach, an f calculates the current new
replacement cost of a 15 year old structure. The next factor the appraiser will consider n
completing this approach is:
a. Land value
b. Capitalization rate
c. Net operating income
d. Accrued depreciation
c. 14320 - ANSA buyer purchases a home for $55,000 and gets a commitment from a lender for
an 80% loan. The lender has advised the buyer that 3 discount points will be charged. If
additional closing costs are $2,000, how much total cash MUST the buyer have at closing?
a. 1300
b. 13200
c. 14320
d. 15650
c. Always prohibited - ANSAny referral of a settlement service provider for compensation is
a. Only allowed on federally funded transaction
b. Allowed when fully disclosed
c. Always prohibited
d. Only prohibited on federally funded transaction
a. Earnest monies received from a clients properties in the agency's business account - ANSA
licensee is commingling trust funds by depositing:
a. Earnest monies received from a clients properties in the agency's business account
b. Earnest monies and rents received from a client's various properties in the same escrow/trust
account
c. Rents received from the licensee's own properties in a personal account
d. Tenants security depositites received from various clients properties in the same escrow/trust
account.
, b. 51200 - ANSA lease calls for a commercial tenant to pay a guaranteed rental of $1,775 per
month plus 6.5% of the gross income in excess of $325,000 per year. If the yearly gross income
is $785,000, what is the annual rent?
a. 51025
b. 51200
c. 52800
d. 72325
c. Built-in dishwasher - ANSThe lease of a restaurant terminates and the tenant wishes to move
to another location. Which of the following items can the tenant remove from the restaurant as
trade fixtures?
a. Sprinkler system
b. Radiators
c. Built-in dishwasher
d. Recessed ceiling lighting
b. Equitable title - ANSA buyer's interest in real property, acquired at the moment the seller and
the buyer enter into a sales contract, is known as:
a. Legal title
b. Equitable title
c. Fee simple determinable
d. An option to purchase
d. Nonconforming use - ANSK owns and operates a small restaurant in an area recently
annexed by a nearby city. As part of the annexation, the area was zoned for single-family
residence, but K is allowed to continue operating the restaurant under the city's amended
zoning ordinance. The allowance for K's continued operation is known as:
a. Variance
b. Spot zoning
c. Conditional use
d. Nonconforming use
c. Constructive fraud - ANSAn unintentional or negligent misrepresentation would BEST be
described as:
a. Tortious action
b. Puffing
c. Constructive fraud
d. Breach of duty
c. Environmental protection agency - ANSThe entity that is charged with enforcing CERCLA in
the case of an owner who allows the dumping of wastes on a property is the:
a. Department of housing and urban development
b. Federal emergency management agency
c. Environmental protection agency
c. Bill of sale - ANS1A buyer purchases a furnished condominimum apartment as an
investment. The document that evidences the buyer's ownership of the furniture is a
a. Special warranty deed
b. Homeowner's insurance policy
c. Bill of sale
d. Buyers inventory
d. Accrued depreciation - ANSUsing the cost approach, an f calculates the current new
replacement cost of a 15 year old structure. The next factor the appraiser will consider n
completing this approach is:
a. Land value
b. Capitalization rate
c. Net operating income
d. Accrued depreciation
c. 14320 - ANSA buyer purchases a home for $55,000 and gets a commitment from a lender for
an 80% loan. The lender has advised the buyer that 3 discount points will be charged. If
additional closing costs are $2,000, how much total cash MUST the buyer have at closing?
a. 1300
b. 13200
c. 14320
d. 15650
c. Always prohibited - ANSAny referral of a settlement service provider for compensation is
a. Only allowed on federally funded transaction
b. Allowed when fully disclosed
c. Always prohibited
d. Only prohibited on federally funded transaction
a. Earnest monies received from a clients properties in the agency's business account - ANSA
licensee is commingling trust funds by depositing:
a. Earnest monies received from a clients properties in the agency's business account
b. Earnest monies and rents received from a client's various properties in the same escrow/trust
account
c. Rents received from the licensee's own properties in a personal account
d. Tenants security depositites received from various clients properties in the same escrow/trust
account.
, b. 51200 - ANSA lease calls for a commercial tenant to pay a guaranteed rental of $1,775 per
month plus 6.5% of the gross income in excess of $325,000 per year. If the yearly gross income
is $785,000, what is the annual rent?
a. 51025
b. 51200
c. 52800
d. 72325
c. Built-in dishwasher - ANSThe lease of a restaurant terminates and the tenant wishes to move
to another location. Which of the following items can the tenant remove from the restaurant as
trade fixtures?
a. Sprinkler system
b. Radiators
c. Built-in dishwasher
d. Recessed ceiling lighting
b. Equitable title - ANSA buyer's interest in real property, acquired at the moment the seller and
the buyer enter into a sales contract, is known as:
a. Legal title
b. Equitable title
c. Fee simple determinable
d. An option to purchase
d. Nonconforming use - ANSK owns and operates a small restaurant in an area recently
annexed by a nearby city. As part of the annexation, the area was zoned for single-family
residence, but K is allowed to continue operating the restaurant under the city's amended
zoning ordinance. The allowance for K's continued operation is known as:
a. Variance
b. Spot zoning
c. Conditional use
d. Nonconforming use
c. Constructive fraud - ANSAn unintentional or negligent misrepresentation would BEST be
described as:
a. Tortious action
b. Puffing
c. Constructive fraud
d. Breach of duty
c. Environmental protection agency - ANSThe entity that is charged with enforcing CERCLA in
the case of an owner who allows the dumping of wastes on a property is the:
a. Department of housing and urban development
b. Federal emergency management agency
c. Environmental protection agency
