Unit 1 Exam questions with correct
answers 100%.
A licensed real estate broker is permitted to charge a fee for providing services involving real estate
EXCEPT:
A) leasing.
B) exchanging.
C) selling.
D) appraising. ANS -D) appraising
While a real estate licensee may be asked to estimate a property's likely sales price, most transactions
require a licensed or certified real estate appraiser to develop an opinion of a property's market value.
A person who performs a visual survey of a property structure and writes a report for a buyer is
A) an appraiser.
B) a home inspector.
C) a property manager.
D) an educator. ANS -B) a home inspector
The home inspector, who prepares an analytical report of a visual inspection of the property's structure
and systems, is becoming more important in the real estate transaction as more consumers rely on
these reports when buying property.
Information including age, education, behavior, and other characteristics of members in a certain
population is
A) demographics.
B) household data.
C) family lifestyles.
, D) population analysis. ANS -A) demographics
Information about members of a population group is called demographics. These factors are important
because they contribute to the amount and type of housing needed.
Real estate is unique and immobile. This means that
A) the market is immune to natural disasters.
B) the market can adjust quickly to the forces of supply and demand.
C) supply and demand can be forecast accurately.
D) the market adjusts slowly to the forces of supply and demand. ANS -D) the market adjusts slowly to
the forces of supply and demand.
Because of the uniqueness and immobility of real estate, the market for real estate reacts slowly to the
forces of supply and demand, which are subject to changes in the national financial market as well as
natural disasters.
National Association of Real Estate Brokers (NAREB)
A) no longer concerns itself with equal housing opportunity.
B) members are known as Realtists.
C) members are known as REALTORS®.
D) is part of the National Association of REALTORS®. ANS -B) members are known as Realtists.
Members of the National Association of Real Estate Brokers (NAREB) are known as Realtists.
A real estate professional who helps clients choose among the various alternatives involved in
purchasing, using, or investing in property is a
A) real estate educator.
B) real estate counselor.
C) home inspector.
D) real estate appraiser. ANS -B) real estate counselor.
answers 100%.
A licensed real estate broker is permitted to charge a fee for providing services involving real estate
EXCEPT:
A) leasing.
B) exchanging.
C) selling.
D) appraising. ANS -D) appraising
While a real estate licensee may be asked to estimate a property's likely sales price, most transactions
require a licensed or certified real estate appraiser to develop an opinion of a property's market value.
A person who performs a visual survey of a property structure and writes a report for a buyer is
A) an appraiser.
B) a home inspector.
C) a property manager.
D) an educator. ANS -B) a home inspector
The home inspector, who prepares an analytical report of a visual inspection of the property's structure
and systems, is becoming more important in the real estate transaction as more consumers rely on
these reports when buying property.
Information including age, education, behavior, and other characteristics of members in a certain
population is
A) demographics.
B) household data.
C) family lifestyles.
, D) population analysis. ANS -A) demographics
Information about members of a population group is called demographics. These factors are important
because they contribute to the amount and type of housing needed.
Real estate is unique and immobile. This means that
A) the market is immune to natural disasters.
B) the market can adjust quickly to the forces of supply and demand.
C) supply and demand can be forecast accurately.
D) the market adjusts slowly to the forces of supply and demand. ANS -D) the market adjusts slowly to
the forces of supply and demand.
Because of the uniqueness and immobility of real estate, the market for real estate reacts slowly to the
forces of supply and demand, which are subject to changes in the national financial market as well as
natural disasters.
National Association of Real Estate Brokers (NAREB)
A) no longer concerns itself with equal housing opportunity.
B) members are known as Realtists.
C) members are known as REALTORS®.
D) is part of the National Association of REALTORS®. ANS -B) members are known as Realtists.
Members of the National Association of Real Estate Brokers (NAREB) are known as Realtists.
A real estate professional who helps clients choose among the various alternatives involved in
purchasing, using, or investing in property is a
A) real estate educator.
B) real estate counselor.
C) home inspector.
D) real estate appraiser. ANS -B) real estate counselor.
