AYPO REAL ESTATE PRINCIPLES OF REAL ESTATE II
EXAM
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) - Answers-270 square feet
An applicant is allowed to use what electronic devices during the real estate exam? -
Answers-Hand-held calculator
Convert the following fraction to a decimal for ease of computation: 31/25 - Answers-
1.24
What is the general formula to determine Capital Gain? - Answers-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) - Answers-$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? -
Answers-$784.87
What is the basic formula for determining the proration of fees? - Answers-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? - Answers-4450 ft2
How many hours must an applicant provide that are acceptable and verifiable appraisal
experience acquired over a minimum of 12 months? - Answers-1,500 hours
What is a federal program run by the U.S. Department of the Treasury which is intended
help homeowners avoid foreclosure? - Answers-The Making Home Affordable Program.
Which of the following is a VLB qualifying requirement? - Answers-The home must
remain as the veteran's primary residence for at least three years
The Federal Reserve System does not directly control... - Answers-1. national
production.
2. levels of employment.
3. inflation.
, What occurs in secondary capital markets? - Answers-Securities are traded between
investors
What is an alternative to financial institutions particularly for buyers who are not able to
obtain conventional financing? - Answers-Private lending.
Which of the following combines and replaces the final Truth-in-Lending disclosure and
the HUD-1? - Answers-The closing disclosure
Zoning regulations must be designed to: - Answers-1. Lessen congestion in the streets.
2. Provide adequate light and air.
3. Avoid undue concentration of population.
What is a unique political subdivision of a municipality in Texas? - Answers-TIRZ
Which are the two means used to alter a deed restriction? - Answers-Waiver and judicial
Of the 167,625,000 acres of land in Texas, 1.92% is owned by the state and/or federal
government, ranking Texas __ of the 50 states. - Answers-47
What means "trade or commerce among the several states or between any foreign
country and any state?" - Answers-Interstate commerce.
What does CERCLA do? - Answers-Provides a Federal "Superfund" to clean up
uncontrolled or abandoned hazardous-waste sites as well as accidents, spills, and other
emergency releases of pollutants and contaminants into the environment.
What is functional obsolescence? - Answers-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? - Answers-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? - Answers-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? - Answers-Cost
approach.
A CMA is what? - Answers-Comparative Market Analysis
What are fees paid to the lender to compensate the loan company or bank for
evaluating, processing, and approving a mortgage? - Answers-Origination points.
EXAM
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) - Answers-270 square feet
An applicant is allowed to use what electronic devices during the real estate exam? -
Answers-Hand-held calculator
Convert the following fraction to a decimal for ease of computation: 31/25 - Answers-
1.24
What is the general formula to determine Capital Gain? - Answers-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) - Answers-$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? -
Answers-$784.87
What is the basic formula for determining the proration of fees? - Answers-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? - Answers-4450 ft2
How many hours must an applicant provide that are acceptable and verifiable appraisal
experience acquired over a minimum of 12 months? - Answers-1,500 hours
What is a federal program run by the U.S. Department of the Treasury which is intended
help homeowners avoid foreclosure? - Answers-The Making Home Affordable Program.
Which of the following is a VLB qualifying requirement? - Answers-The home must
remain as the veteran's primary residence for at least three years
The Federal Reserve System does not directly control... - Answers-1. national
production.
2. levels of employment.
3. inflation.
, What occurs in secondary capital markets? - Answers-Securities are traded between
investors
What is an alternative to financial institutions particularly for buyers who are not able to
obtain conventional financing? - Answers-Private lending.
Which of the following combines and replaces the final Truth-in-Lending disclosure and
the HUD-1? - Answers-The closing disclosure
Zoning regulations must be designed to: - Answers-1. Lessen congestion in the streets.
2. Provide adequate light and air.
3. Avoid undue concentration of population.
What is a unique political subdivision of a municipality in Texas? - Answers-TIRZ
Which are the two means used to alter a deed restriction? - Answers-Waiver and judicial
Of the 167,625,000 acres of land in Texas, 1.92% is owned by the state and/or federal
government, ranking Texas __ of the 50 states. - Answers-47
What means "trade or commerce among the several states or between any foreign
country and any state?" - Answers-Interstate commerce.
What does CERCLA do? - Answers-Provides a Federal "Superfund" to clean up
uncontrolled or abandoned hazardous-waste sites as well as accidents, spills, and other
emergency releases of pollutants and contaminants into the environment.
What is functional obsolescence? - Answers-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? - Answers-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? - Answers-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? - Answers-Cost
approach.
A CMA is what? - Answers-Comparative Market Analysis
What are fees paid to the lender to compensate the loan company or bank for
evaluating, processing, and approving a mortgage? - Answers-Origination points.
