AYPO Real Estate Principles of Real
Estate II Exam Study Guide Questions
& Answers(RATED A+)
If the base side of a triangular plot measures 45' and the height line measures 12', what is the area of
the plot in square feet?([b x h] x ½ = A) - ANSWER 270 square feet
An applicant is allowed to use what electronic devices during the real estate exam? - ANSWER Hand-
held calculator
Convert the following fraction to a decimal for ease of computation: 31/25 - ANSWER 1.24
What is the general formula to determine Capital Gain? - ANSWER Profit from Sale - Base Value =
Capital Gain
A property owner borrows $490,000 at a 12% interest rate. How much interest accumulates in the
first year?(Interest Rate = Interest / Principle) - ANSWER $58,800
A property owner has a 20-year mortgage that is worth $97,500 with a 7.5% annual interest rate.
What does the property owner pay in mortgage payments every month? - ANSWER $784.87
What is the basic formula for determining the proration of fees? - ANSWER Tax or Fee Rate x
Remaining Days or Months = Tax or Fee Owed
A house has 3 distinct rectangular shapes:
A=20'x30'
B=10'x10'
C=75'x50'
What is the square footage total? - ANSWER 4450 ft2
, How many hours must an applicant provide that are acceptable and verifiable appraisal experience
acquired over a minimum of 12 months? - ANSWER 1,500 hours
What is functional obsolescence? - ANSWER The loss of property value due to qualities of the
property that cannot be easily changed
What is the most probable price which a property should bring in a competitive and open market
under all conditions requisite to a fair sale, the buyer and seller each acting prudently and
knowledgeably? - ANSWER Market value
Which of the following objective value means the value of a piece of property will rise or fall because
of a future benefit or a future complication? - ANSWER Anticipation
Replacement cost, or the dollar amount it would cost to construct at current prices a structure that is
not exactly the same is in which type of appraisal? - ANSWER Cost approach.
A CMA is what? - ANSWER Comparative Market Analysis
What are fees paid to the lender to compensate the loan company or bank for evaluating,
processing, and approving a mortgage? - ANSWER Origination points.
A privately run, for-profit financial institution that provides a number of services including mortgage
lending is a... - ANSWER Bank.
- ANSWER
Which of the following is a VLB qualifying requirement? - ANSWER The home must remain as the
veteran's primary residence for at least three years
The Federal Reserve System does not directly control... - ANSWER 1. national production.
2. levels of employment.
3. inflation.
Estate II Exam Study Guide Questions
& Answers(RATED A+)
If the base side of a triangular plot measures 45' and the height line measures 12', what is the area of
the plot in square feet?([b x h] x ½ = A) - ANSWER 270 square feet
An applicant is allowed to use what electronic devices during the real estate exam? - ANSWER Hand-
held calculator
Convert the following fraction to a decimal for ease of computation: 31/25 - ANSWER 1.24
What is the general formula to determine Capital Gain? - ANSWER Profit from Sale - Base Value =
Capital Gain
A property owner borrows $490,000 at a 12% interest rate. How much interest accumulates in the
first year?(Interest Rate = Interest / Principle) - ANSWER $58,800
A property owner has a 20-year mortgage that is worth $97,500 with a 7.5% annual interest rate.
What does the property owner pay in mortgage payments every month? - ANSWER $784.87
What is the basic formula for determining the proration of fees? - ANSWER Tax or Fee Rate x
Remaining Days or Months = Tax or Fee Owed
A house has 3 distinct rectangular shapes:
A=20'x30'
B=10'x10'
C=75'x50'
What is the square footage total? - ANSWER 4450 ft2
, How many hours must an applicant provide that are acceptable and verifiable appraisal experience
acquired over a minimum of 12 months? - ANSWER 1,500 hours
What is functional obsolescence? - ANSWER The loss of property value due to qualities of the
property that cannot be easily changed
What is the most probable price which a property should bring in a competitive and open market
under all conditions requisite to a fair sale, the buyer and seller each acting prudently and
knowledgeably? - ANSWER Market value
Which of the following objective value means the value of a piece of property will rise or fall because
of a future benefit or a future complication? - ANSWER Anticipation
Replacement cost, or the dollar amount it would cost to construct at current prices a structure that is
not exactly the same is in which type of appraisal? - ANSWER Cost approach.
A CMA is what? - ANSWER Comparative Market Analysis
What are fees paid to the lender to compensate the loan company or bank for evaluating,
processing, and approving a mortgage? - ANSWER Origination points.
A privately run, for-profit financial institution that provides a number of services including mortgage
lending is a... - ANSWER Bank.
- ANSWER
Which of the following is a VLB qualifying requirement? - ANSWER The home must remain as the
veteran's primary residence for at least three years
The Federal Reserve System does not directly control... - ANSWER 1. national production.
2. levels of employment.
3. inflation.
