AYPO Real Estate Principles of Real Estate II Exam Study Guide
AYPO Real Estate Principles of Real Estate II
Exam Study Guide with Answers
Question 1
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)
Correct Answer
270 square feet
Question 2
An applicant is allowed to use what electronic devices during the real estate exam?
Correct Answer
Hand-held calculator
Question 3
Convert the following fraction to a decimal for ease of computation: 31/25
Correct Answer
1.24
Question 4
What is the general formula to determine Capital Gain?
Correct Answer
Profit from Sale - Base Value = Capital Gain
Question 5
A property owner borrows $490,000 at a 12% interest rate. How much interest
accumulates in the first year?(Interest Rate = Interest / Principle)
Correct Answer
$58,800
Page 1 of 24
, AYPO Real Estate Principles of Real Estate II Exam Study Guide
Question 6
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?
Correct Answer
$784.87
Question 7
What is the basic formula for determining the proration of fees?
Correct Answer
Tax or Fee Rate x Remaining Days or Months = Tax or Fee Owed
Question 8
A house has 3 distinct rectangular shapes:
A=20'x30'
B=10'x10'
C=75'x50'
What is the square footage total?
Correct Answer
4450 ft2
Question 9
How many hours must an applicant provide that are acceptable and verifiable
appraisal experience acquired over a minimum of 12 months?
Correct Answer
1,500 hours
Question 10
What is functional obsolescence?
Correct Answer
The loss of property value due to qualities of the property that cannot be easily
changed
Page 2 of 24
, AYPO Real Estate Principles of Real Estate II Exam Study Guide
Question 11
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?
Correct Answer
Market value
Question 12
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?
Correct Answer
Anticipation
Question 13
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?
Correct Answer
Cost approach.
Question 14
A CMA is what?
Correct Answer
Comparative Market Analysis
Question 15
What are fees paid to the lender to compensate the loan company or bank for
evaluating, processing, and approving a mortgage?
Correct Answer
Origination points.
Page 3 of 24
AYPO Real Estate Principles of Real Estate II
Exam Study Guide with Answers
Question 1
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)
Correct Answer
270 square feet
Question 2
An applicant is allowed to use what electronic devices during the real estate exam?
Correct Answer
Hand-held calculator
Question 3
Convert the following fraction to a decimal for ease of computation: 31/25
Correct Answer
1.24
Question 4
What is the general formula to determine Capital Gain?
Correct Answer
Profit from Sale - Base Value = Capital Gain
Question 5
A property owner borrows $490,000 at a 12% interest rate. How much interest
accumulates in the first year?(Interest Rate = Interest / Principle)
Correct Answer
$58,800
Page 1 of 24
, AYPO Real Estate Principles of Real Estate II Exam Study Guide
Question 6
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?
Correct Answer
$784.87
Question 7
What is the basic formula for determining the proration of fees?
Correct Answer
Tax or Fee Rate x Remaining Days or Months = Tax or Fee Owed
Question 8
A house has 3 distinct rectangular shapes:
A=20'x30'
B=10'x10'
C=75'x50'
What is the square footage total?
Correct Answer
4450 ft2
Question 9
How many hours must an applicant provide that are acceptable and verifiable
appraisal experience acquired over a minimum of 12 months?
Correct Answer
1,500 hours
Question 10
What is functional obsolescence?
Correct Answer
The loss of property value due to qualities of the property that cannot be easily
changed
Page 2 of 24
, AYPO Real Estate Principles of Real Estate II Exam Study Guide
Question 11
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?
Correct Answer
Market value
Question 12
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?
Correct Answer
Anticipation
Question 13
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?
Correct Answer
Cost approach.
Question 14
A CMA is what?
Correct Answer
Comparative Market Analysis
Question 15
What are fees paid to the lender to compensate the loan company or bank for
evaluating, processing, and approving a mortgage?
Correct Answer
Origination points.
Page 3 of 24
