Azure Tide Real Estate Exam 2 Questions with Correct Answers Graded A+

Azure Tide Real Estate Exam 2 Questions with Correct Answers Graded A+ Gross Rental Multiplier (GRM) is an easy-to-use a calculation to get an estimated value for a potential investment. What is the formula used to calculate the GRM value? - Correct Answer Sale Price (Market Value )/ Gross Monthly Rental Income = Gross Rent Multiplier (GRM) Jill bought a house 3 years ago and paid $175,000 for it and spent $7,000 in closing costs. Since, then she has made several improvements to the property for $75,000. Jills boss promoted her to VP of Market 5 and she had to relocate. She sold her house for $375,000 with $30,000 in selling costs. She bought a new house for $290,000. What is the capital gain on the sale of her original home? - Correct Answer $88,000 [Section 17 Slide 26-27, Page 495]; $175,000 + $7,000 + $75,000 = $257,000 Adjusted Basis. $375,000-$30,000 = $345,000 - $257,000 = $88,000 Todd is a 59-year-old veteran that is legally blind and 25% disabled due to injuries he sustained in the military. His homesteaded property has an assessed value of $150,500. What is his taxable value for county taxes? 1) $55,500 2) $95,000 3) $100,500 4) $110,000 - Correct Answer $95,000 [Section 18 Slide 55-56, Page 531] $150,500 - $50,000 regular exemptions - $500 blind exemption - $5,000 partial veteran disability = $95,000 A licensee does not: 1) Need to be 18 years old or older 2) Need to be a high school graduate or equivalent 3) Need to be a US citizen 4) Need a social security number - Correct Answer Need to be a US citizen