pearson vue practice exam, Multiple Choice Questions And Correct Answers 100% Correct.

pearson vue practice exam, Multiple Choice Questions And Correct Answers 100% Correct. In stating a seller's price and terms to a prospective buyer, the seller's broker is required by the law of agency to state ONLY those terms that are a. included in the listing agreement b. based on the brokers evaluation of prevailing prices and terms c. favorable for the seller, as determined by the broker d. attractive to buyers, as determined by the broker a. included in the listing agreement a lot measuring 110 feet wide by 140 feet deep has a required setback of 30 feet in front, 20 feet in the rear, and 20 feet on each side. if a builder wants to put a one-story building on the lot, the MAXIMUM square footage it can contain is a. 3,300 sq ft b. 3,600 sq ft c. 6,300 sq ft d. 6,600 sq ft c. 6,300 sq ft a house with a market value of $80,000 is located where property is assessed at 70% of market value. if the tax rate is $4 per $100 of assessed value, the property taxes are a. $224 b. $960 c. $2,240 d. $3,200 c. $2,240 a broker charges a leasing fee of one-half of the first months rent and a management fee of 8% of all rents collected. the broker negotiates a two-year lease at a monthly rental of $550. which of the following amounts will the broker earn on this lease a. $1,378 b $1,331 c. $1,287 d. $1,056 b. $1,331 a property manager works in the BEST interests of the a. tenant b. owner c. agent d. bank b. owner in reviewing the deed to a listed property, a licensee noted a number of limitations regarding its use. these limitations aare commonly known as: A. Codicils B. constraints C. building codes D. restricted covenants D. Restricted covenants the price at which a willing and informed buyer would buy and a willing and informed seller would sell is called the a. assessed value b. book value c. income approach to value d. market value d. market value the income approach is MOST likely to be used when determining the value of a A. vacant residential lot b. office building c. single-family home d. cooperative apartment b. office building the G's purchased a house from the T's. the G's agreed to the following terms: monthly payments of $650 to the T's and the balance to be paid in full after 7 years. at the time the balance is paid, the T's will give the G's a warranty deed transferring title. in this situation, what type of financing was used a. fha loan b. wrap around mortgage c. package mortgage d. contract for deed d. contract for deed the provision in a mortgage or deed of trust that gives the lender the right to call the entire balance due upon a default in any payment is called a: a. acceleration clause b. prepayment penalty clause c. prepayment priveledge clause d. right of redemption clause a. acceleration clause a broker who represents a buyer is trying to negotiate on the buyer's behalf in a potential transaction. the broker realizes that by negotiating a reduced price for the buyer, the broker's commission will also be reduced. in this situation, the broker is obligated to negotiate the BEST price for the A. buyer and broker b. buyer c. seller d. brokerage b. buyer K and R bought a house as tenants in common. If K dies, which of the following statements about ownership of the house is CORRECT? a. it automatically becomes tenancy in severalty b. it is divided, with R retaining R's original interest and the balance going to K's estate C. R holds fee simple ownership in k's share of the property d. R holds life estate ownership in K's share of the property B. it is divided, with R retaining R's original interest and the balance going to K's estate a visually-impaired person with a service animal completes an application for rental of an apartment that has a vigorously enforced "no pets" policy in the building. according to the federal fair housing act the owner MAY: a. refuse to rent as a result of policy b. require the person to house the animal outside c. require the person to restore any damage that results from the animal d. increase the customary security deposit c. require the person to restore any damage that results from the animal Under a sales contract, the legal remedy that may be used to force the seller to consummate the sale is called a. adverse possession b. foreclosure c. specific performance d. forcible detainer c. specific performance a developer who leases real property from the owner with the intent of constructing an office building has which of the following interests in the property? a. leased fee b. leasehold c. sale and leaseback d. lease option b. leasehold the owners of a house sign a listing agreement and later tell the licensee that the garage roof leaks. if they tell the licensee not to reveal the roof's condition to any prospective buyers the licensee MUST