NATIONAL REAL ESTATE 2024 / 2025 EXAM QUESTIONS WITH 100% ACCURATE ANSWERS.

NATIONAL REAL ESTATE 2024/ 2025 EXAM QUESTIONS
WITH 100% ACCURATE ANSWERS.

1) What is bracketing? -- Correct Answer ✔✔ to determine a range of values. use some
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comparable properties that lack features of his subject property, and others that have
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even more desirable features, to balance out the comparison.
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2) conversion vs commingling -- Correct Answer ✔✔ Commingling is the act of mixing
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funds together, and conversion refers to the act of using funds for a purpose other
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than what they were originally intended for
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3) Escheat -- Correct Answer ✔✔ the right of a government to take ownership of estate
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assets or unclaimed property.
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4) Arbitration -- Correct Answer ✔✔ procedure in which a dispute is submitted, by
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agreement of the parties, to one or more arbitrators who make a binding decision on
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the dispute
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5) litigation -- Correct Answer ✔✔ the process of taking legal action
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6) Amortization -- Correct Answer ✔✔ paying off a debt over time in equal installments. t t t t t t t t t t t t t




the amount going toward principal starts out small, and gradually grows larger month
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by month.
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7) Sales Comparison Approach -- Correct Answer ✔✔ Step 1 - Identify all elements of
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comparison affecting the market value of the subject property. Step 2 - Compare the
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amenities of each comparable with those of the subject. Step 3 measure (quantify) the
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difference between the comps and the subject property. t t t t t t t

, 8) How to calculate interest-only loan payments -- Correct Answer ✔✔ multiply the
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loan balance by the annual interest rate, and divide it by the number of payments in a
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year.

9) Covenant of Seisin -- Correct Answer ✔✔ The covenant states that the grantor
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solely owns the property being purchased, and no other parties have a property
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interest or claim to ownership of the land. t t t t t t t




10) 4 Value characteristics -- Correct Answer ✔✔ Demand, Utility (beneficial to
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consumer) , Scarcity(short supply) , Transferability t t t t t




11) Title VIII of Civil Rights Act of 1968 (Federal Fair Housing Act) -- Correct Answer
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✔✔ Prohibits discrimination in housing based on race, color, religion, or national
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origin.

12) Title VIII in 1974 -- Correct Answer ✔✔ was amended to ban discrimination on the
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basis of sex in sales of property
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13) fair housing act of 1988 -- Correct Answer ✔✔ further prohibited discrimination
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based on familial status and disabilities.
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14) Examples of foundation problems -- Correct Answer ✔✔ Exterior/interior Wall
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Cracks, Bouncing Floors. ... t t t




Cabinets or Counters Separated From Walls, t t t t t t




Mildew Smell, Warped or Cracked Siding, Sinking Ground, or Sticking Doors.
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15) Examples of drainage problems -- Correct Answer ✔✔ Water in the Basement, Dead
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tPlants, Soil Erosion, Ice Building Up, Gushing Gutters, Stains & Peeling Paint, Mold &
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Mildew.

16) What disclosure is required for HELOCs? -- Correct Answer ✔✔ the Home Equity
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Line of Credit Early Program Disclosure and truth in lending disclosure. (Its not a real
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estate insured loan) t t