AYPO Real Estate Principles of Real Estate II Exam Study Guide

If the base side of a triangular plot measures 45' and the height line measures 12', what is the area of the plot in square feet?([b x h] x ½ = A) - 270 square feet An applicant is allowed to use what electronic devices during the real estate exam? - Hand-held calculator Convert the following fraction to a decimal for ease of computation: 31/25 - 1.24 What is the general formula to determine Capital Gain? - Profit from Sale - Base Value = Capital Gain A property owner borrows $490,000 at a 12% interest rate. How much interest accumulates in the first year?(Interest Rate = Interest / Principle) - $58,800 A property owner has a 20-year mortgage that is worth $97,500 with a 7.5% annual interest rate. What does the property owner pay in mortgage payments every month? - $784.87 What is the basic formula for determining the proration of fees? - Tax or Fee Rate x Remaining Days or Months = Tax or Fee Owed A house has 3 distinct rectangular shapes: A=20'x30' B=10'x10' C=75'x50' What is the square footage total? - 4450 ft2 How many hours must an applicant provide that are acceptable and verifiable appraisal experience acquired over a minimum of 12 months? - 1,500 hours What is functional obsolescence? - The loss of property value due to qualities of the property that cannot be easily changed What is the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably? - Market value Which of the following objective value means the value of a piece of property will rise or fall because of a future benefit or a future complication? - Anticipation