NATIONAL REAL ESTATE EXAM PRACTICE TEST 100% SOLVED 2024

NATIONAL REAL ESTATE EXAM PRACTICE TEST 100% SOLVED 2024 In most cases, broker compensation, as a percentage of home price, falls somewhere between: - Answer- 5-7% A Christian organization owns a fourplex. It wants to rent to only Christian tenants. Under the federal Fair Housing Act, is this legal? - Answer- Yes. Religious organizations which rent to tenants for residential purposes are exempt from the Fair Housing Act What happens to trade fixtures after a business moves out of a leased property? - Answer- The tenant removes their trade fixtures and takes them upon moving out. Suppose that a borrower has a gross monthly income of $3,000 and wants to qualify for a conforming loan (total debt service ratio of 36%) with a monthly PITI payment of $800. What is the maximum amount of additional long-term obligations this borrower may have after PITI? - Answer- $280 A square bedroom measures 10 feet by 10 feet. What is the area of the room? - Answer- 100 square feet Which of these is an economic characteristic that makes land a distinctive commodity?* - Answer- situs In a fixed-rate mortgage that is fully amortized, the total amount of interest to be paid is: - Answer- predetermined Which is exempt from the federal Fair Housing Act? - Answer- renting a room in a house occupied by the owner