2024 /2025 | © copyright | This work may not be copied for profit gain Excel!
Sales General Exam - Stringham Real Estate
School Questions and Correct Answers |
Latest Update
A particular parcel was zoned residential, single family and was surrounded by others zoned
the same. That parcel was rezoned commercial so a convenience store could be built. This
is an example of:
a) Legal non-conforming use
b) Defeasible fee estate
c) Spot Zoning
d) Variance
✓ -:- c) Spot Zoning
Z listed the property. When the buyers expressed interest in seeing it, Z disclosed they
would have no representation and the buyers agreed in writing. When writing the offer, the
buyers asked Z what they should offer. Z responded, "Oh 93% of the listed price would be
good." Which most applies?
a) This would be a good suggestion for the agent to make.
b) This is ostensible agency between Z and the buyers
c) Z is properly representing the seller and obtaining an offer.
1|P a g e | G r a d e A + | 2 0 2 0 2 5
,2024 /2025 | © copyright | This work may not be copied for profit gain Excel!
d) This is limited agency and legal.
✓ -:- b) This is ostensible agency between Z and the buyers.
George smith who owns his property fee simple grants a three year lease to tom green
during the second year of the lease George sells the property to Ned Gray what happens to
the lease when the sale closes
a) property cannot be sold and title transferred to a new owner when a lease is in effect
b) it must be negotiated between gray and Mr Green the leasee
c)the lease remains in effect with Mr gray and Mr green
d) it terminates
✓ -:- c) The lease remains in effect with Mr. Gray and Mr. Green
At the beginning of each month the lessee gives, and the lessor takes the rent. This best
describes:
a) Tenancy by the entirety
b) Periodic Tenancy
c) Joint Tenancy
d) Tenancy at will
2|P a g e | G r a d e A + | 2 0 2 0 2 5
,2024 /2025 | © copyright | This work may not be copied for profit gain Excel!
✓ -:- b) Periodic Tenancy
What is the amount of pre-paid interest to the borrower if her $205,000 loan at 5.5%
annual interest rate closes on November 15?
a) $258.33
b) $939.58
c) $469.79
d) $370.00
✓ -:- c) $469.79
What term best describes a situation where the lessor collects rents from the tenants and
pays expenses out of those rents?
a) Net Lease
b) Participation Lease
c) License Estate
d) Gross Lease
✓ -:- d) Gross Lease
3|P a g e | G r a d e A + | 2 0 2 0 2 5
, 2024 /2025 | © copyright | This work may not be copied for profit gain Excel!
L agreed to carry a 2nd in the sale of the home. It was for $20,000, 9% interest, 30 years,
payment of $160.92 per month. However, it had a five year call when the buyer would pay
off the balance of $19,176. How would you describe this loan arrangement?
a) Fully amortized
b) Discounted
c) Wraparound
d) Partially amortized
✓ -:- d) Partially Amortized
An assessor is trying to determine the square footage of a property. He measures:
a) the outside dimensions.
b) the inside rooms including the closets.
c) inside, usable area.
d) the home, excluding hallways.
✓ -:- a) the outside dimensions
4|P a g e | G r a d e A + | 2 0 2 0 2 5
Sales General Exam - Stringham Real Estate
School Questions and Correct Answers |
Latest Update
A particular parcel was zoned residential, single family and was surrounded by others zoned
the same. That parcel was rezoned commercial so a convenience store could be built. This
is an example of:
a) Legal non-conforming use
b) Defeasible fee estate
c) Spot Zoning
d) Variance
✓ -:- c) Spot Zoning
Z listed the property. When the buyers expressed interest in seeing it, Z disclosed they
would have no representation and the buyers agreed in writing. When writing the offer, the
buyers asked Z what they should offer. Z responded, "Oh 93% of the listed price would be
good." Which most applies?
a) This would be a good suggestion for the agent to make.
b) This is ostensible agency between Z and the buyers
c) Z is properly representing the seller and obtaining an offer.
1|P a g e | G r a d e A + | 2 0 2 0 2 5
,2024 /2025 | © copyright | This work may not be copied for profit gain Excel!
d) This is limited agency and legal.
✓ -:- b) This is ostensible agency between Z and the buyers.
George smith who owns his property fee simple grants a three year lease to tom green
during the second year of the lease George sells the property to Ned Gray what happens to
the lease when the sale closes
a) property cannot be sold and title transferred to a new owner when a lease is in effect
b) it must be negotiated between gray and Mr Green the leasee
c)the lease remains in effect with Mr gray and Mr green
d) it terminates
✓ -:- c) The lease remains in effect with Mr. Gray and Mr. Green
At the beginning of each month the lessee gives, and the lessor takes the rent. This best
describes:
a) Tenancy by the entirety
b) Periodic Tenancy
c) Joint Tenancy
d) Tenancy at will
2|P a g e | G r a d e A + | 2 0 2 0 2 5
,2024 /2025 | © copyright | This work may not be copied for profit gain Excel!
✓ -:- b) Periodic Tenancy
What is the amount of pre-paid interest to the borrower if her $205,000 loan at 5.5%
annual interest rate closes on November 15?
a) $258.33
b) $939.58
c) $469.79
d) $370.00
✓ -:- c) $469.79
What term best describes a situation where the lessor collects rents from the tenants and
pays expenses out of those rents?
a) Net Lease
b) Participation Lease
c) License Estate
d) Gross Lease
✓ -:- d) Gross Lease
3|P a g e | G r a d e A + | 2 0 2 0 2 5
, 2024 /2025 | © copyright | This work may not be copied for profit gain Excel!
L agreed to carry a 2nd in the sale of the home. It was for $20,000, 9% interest, 30 years,
payment of $160.92 per month. However, it had a five year call when the buyer would pay
off the balance of $19,176. How would you describe this loan arrangement?
a) Fully amortized
b) Discounted
c) Wraparound
d) Partially amortized
✓ -:- d) Partially Amortized
An assessor is trying to determine the square footage of a property. He measures:
a) the outside dimensions.
b) the inside rooms including the closets.
c) inside, usable area.
d) the home, excluding hallways.
✓ -:- a) the outside dimensions
4|P a g e | G r a d e A + | 2 0 2 0 2 5
