9/7/24, 6:02 PM
DANIEL
pearson vue practice exam
Terms in this set (78)
In stating a seller's price and terms to a a. included in the listing agreement
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 lot measuring 110 feet wide by 140 feet c. 6,300 sq ft
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
a house with a market value of $80,000 is c. $2,240
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
1/16
,9/7/24, 6:02 PM
a broker charges a leasing fee of one-halfof b. $1,331
the first months rent and a managementfee 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
a property manager works in the BEST b. owner
interests of the
a. tenant
b. owner
c. agent
d. bank
in reviewing the deed to a listed property, a D. Restricted covenants
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
the price at which a willing and informed d. market value
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
the income approach is MOST likely to be b. office building
used when determining the value of a
A. vacant residential lot
b. office building
c. single-family home
d. cooperative apartment
the G's purchased a house from the T's. the d. contract for deed
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
2/16
, 9/7/24, 6:02 PM
the provision in a mortgage or deed of a. acceleration clause
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 broker who represents a buyer is trying to b. buyer
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
K and R bought a house as tenants in B. it is divided, with R retaining R's original interest and the balance going to K's
common. If K dies, which of the following estate
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
a visually-impaired person with a service c. require the person to restore any damage that results from the animal
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
Under a sales contract, the legal remedy c. specific performance
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
3/16
DANIEL
pearson vue practice exam
Terms in this set (78)
In stating a seller's price and terms to a a. included in the listing agreement
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 lot measuring 110 feet wide by 140 feet c. 6,300 sq ft
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
a house with a market value of $80,000 is c. $2,240
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
1/16
,9/7/24, 6:02 PM
a broker charges a leasing fee of one-halfof b. $1,331
the first months rent and a managementfee 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
a property manager works in the BEST b. owner
interests of the
a. tenant
b. owner
c. agent
d. bank
in reviewing the deed to a listed property, a D. Restricted covenants
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
the price at which a willing and informed d. market value
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
the income approach is MOST likely to be b. office building
used when determining the value of a
A. vacant residential lot
b. office building
c. single-family home
d. cooperative apartment
the G's purchased a house from the T's. the d. contract for deed
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
2/16
, 9/7/24, 6:02 PM
the provision in a mortgage or deed of a. acceleration clause
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 broker who represents a buyer is trying to b. buyer
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
K and R bought a house as tenants in B. it is divided, with R retaining R's original interest and the balance going to K's
common. If K dies, which of the following estate
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
a visually-impaired person with a service c. require the person to restore any damage that results from the animal
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
Under a sales contract, the legal remedy c. specific performance
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
3/16
