AYPO Real Estate Principles of Real Estate II
Exam Study Guide |115 Q’s and A’s
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) - -270 square feet
-An applicant is allowed to use what electronic devices during the real estate exam? - -
Hand-held calculator
-Convert the following fraction to a decimal for ease of computation: 31/25 - -1.24
-What is the general formula to determine Capital Gain? - -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) - -$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? - -
$784.87
-What is the basic formula for determining the proration of fees? - -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? - -4450 ft2
-How many hours must an applicant provide that are acceptable and verifiable appraisal
experience acquired over a minimum of 12 months? - -1,500 hours
-What is functional obsolescence? - -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? - -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? - -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? - -Cost approach.
-A CMA is what? - -Comparative Market Analysis
-What are fees paid to the lender to compensate the loan company or bank for evaluating,
processing, and approving a mortgage? - -Origination points.
-A privately run, for-profit financial institution that provides a number of services
including mortgage lending is a... - -Bank.
-In which type of payment plan does the borrower pay a lesser amount for the first years
of the plan, often scheduled at five years, and then a higher monthly amount in the last
portion of the loan? - -Flexible payment plan.
-What is a federal program run by the U.S. Department of the Treasury which is intended
help homeowners avoid foreclosure? - -The Making Home Affordable Program.
-Which of the following is a VLB qualifying requirement? - -The home must remain as the
veteran's primary residence for at least three years
-The Federal Reserve System does not directly control... - -1. national production.
2. levels of employment.
3. inflation.
-What occurs in secondary capital markets? - -Securities are traded between investors
-What is an alternative to financial institutions particularly for buyers who are not able to
obtain conventional financing? - -Private lending.
-Which of the following combines and replaces the final Truth-in-Lending disclosure and
the HUD-1? - -The closing disclosure
-Zoning regulations must be designed to: - -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? - -TIRZ
-Which are the two means used to alter a deed restriction? - -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. - -47
-What means "trade or commerce among the several states or between any foreign
country and any state?" - -Interstate commerce.
Exam Study Guide |115 Q’s and A’s
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) - -270 square feet
-An applicant is allowed to use what electronic devices during the real estate exam? - -
Hand-held calculator
-Convert the following fraction to a decimal for ease of computation: 31/25 - -1.24
-What is the general formula to determine Capital Gain? - -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) - -$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? - -
$784.87
-What is the basic formula for determining the proration of fees? - -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? - -4450 ft2
-How many hours must an applicant provide that are acceptable and verifiable appraisal
experience acquired over a minimum of 12 months? - -1,500 hours
-What is functional obsolescence? - -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? - -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? - -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? - -Cost approach.
-A CMA is what? - -Comparative Market Analysis
-What are fees paid to the lender to compensate the loan company or bank for evaluating,
processing, and approving a mortgage? - -Origination points.
-A privately run, for-profit financial institution that provides a number of services
including mortgage lending is a... - -Bank.
-In which type of payment plan does the borrower pay a lesser amount for the first years
of the plan, often scheduled at five years, and then a higher monthly amount in the last
portion of the loan? - -Flexible payment plan.
-What is a federal program run by the U.S. Department of the Treasury which is intended
help homeowners avoid foreclosure? - -The Making Home Affordable Program.
-Which of the following is a VLB qualifying requirement? - -The home must remain as the
veteran's primary residence for at least three years
-The Federal Reserve System does not directly control... - -1. national production.
2. levels of employment.
3. inflation.
-What occurs in secondary capital markets? - -Securities are traded between investors
-What is an alternative to financial institutions particularly for buyers who are not able to
obtain conventional financing? - -Private lending.
-Which of the following combines and replaces the final Truth-in-Lending disclosure and
the HUD-1? - -The closing disclosure
-Zoning regulations must be designed to: - -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? - -TIRZ
-Which are the two means used to alter a deed restriction? - -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. - -47
-What means "trade or commerce among the several states or between any foreign
country and any state?" - -Interstate commerce.
