10/20/25, 4:37 PM Real Estate - The CE Shop
CE Shop Real Estate NEWEST EXAM | COMPLETE
QUESTIONS AND CORRECT ANSWERS | GRADED A+ |
LATEST EXAM | VERIFIED ANSWERS| BRAND NEW !!
"Section 1031 of the Internal Revenue Code allows the
owner of real property to sell that property and then
reinvest the proceeds in a "like-kind" property and
1031 tax-deferred exchange
defer
paying any capital gains taxes.
Ex. Real estate investors can take advantage of the
1031 tax-deferred exchange to defer capital gains taxes
when selling a property provided the money is rolled
into another """"like"""" purchase
" "Land sharing a common border
abutting Ex. Many neighbors find that fences make abutting properties
more tolerable.
"Allows a lender to demand immediate and full payment
" of all debt owed if a buyer defaults
acceleration clause Ex. When Wendy stopped making home loan payments,
her lender told her she must pay off her entire balance
or risk foreclosure.
"The addition of value to property through labor or the
" addition of new materials, including an increase in
accession land through natural processes
Ex. Jonathan's property borders a bay. The bay
receded, and Jonathan gained an extra 10 feet of
property to his land through accession.
"An incidental or subordinate use to the primary use of the
"
property
accessory use
Ex. Andy's military bunker in his back yard constituted
an accessory use of the property.
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,10/20/25, 4:37 PM Real Estate - The CE Shop
"One of the fiduciary duties, accounting means an agent
is accountable for any funds or properties entrusted to
" the agent. This is a duty that survives termination of an
accounting agency agreement.
Ex. Cameron accepted an earnest money deposit from his buyer.
His duty of
accounting means that he must safeguard the funds and
handle them according to the agreement with his
client and the policies of his firm.
"Land build up over water by sand, silt, or gravel
"
Ex. Jillian's property grew through accretion when a
accretion landslide wiped out an adjacent creek.
"Expenses that are accruing but are not yet payable (e.g.,
property taxes)
" Ex. At closing, accrued items must be accounted for on the
settlement statement. If the seller has accrued expenses not yet
accrued items
payable, the amount accrued will be a seller debit and buyer
credit.
"A requirement for deed transfer; a public official must
acknowledge the grantor's signature
" Ex. Gary purchased a duplex. The grantor signed the deed; a
notary public acknowledged his signature.
acknowledgment
"43,560 square feet
"
Ex. The Jones farmhouse was on 10 acres. Their parcel had
acre 435,600 square feet.
/ 2/131
,10/20/25, 4:37 PM Real Estate - The CE Shop
"Intentional misstatement of a material fact
"
Ex. ""Sure, the foundation is perfectly safe!"" Lisa said,
active fraud
even though she knew full well that there was a crack
the size if Toledo in it.
"Abuse of a property by a person who holds possession through
"
a life estate
act of waste
Ex. When Minerva inherited the historic mansion and
turned it into an illegal video gaming parlor, this was an
act of waste that caused her to lose title to the property.
" "Express notice given directly to a person
actual notice Ex. Karen told her neighbors she would be moving; this was
actual notice.
"An addition to a real estate contract that's added before contract
"
acceptance
addendum
Ex. Steve decided to ask for the washer and dryer after
all, so he asked his broker to write up an addendum to
the sales contract.
"A mortgage with a rate that adjusts based on changes in a market
"
index
adjustable rate mortgage
Ex. Caleb had a 5/1 ARM. His loan had a fixed interest
(ARM)
rate for the first five years, and after 5 years, it could
change annually depending changes to the market
index.
"The final basis for taxing purposes computed by taking
" acquisition costs plus capital improvements and
adjusted basis subtracting depreciation taken
Ex. When Mark computed the adjusted basis in his property, he
had to subtract
$10,000 in depreciation he had taken over the years.
"The dollar value or percentage added to or subtracted
" from the sales price of a comparable to arrive at an
adjustment indicated value for the subject
Ex. Whether the adjustment is made for a "good" or a
"bad" feature, it is made to the comparable, not to the
subject.
"The date on which the interest rate changes on an adjustable
"
rate mortgage.
adjustment date
Ex. Karey made sure to refinance before her adjustment
rate. Rates had dropped and she could get a better
/ 3/131
, 10/20/25, 4:37 PM Real Estate - The CE Shop
rate than the one she'd face once her ARM adjusted.
"A debit or credit at closing to coincide with appropriate closing
"
costs
adjustment (loan)
Ex. When the document preparation fees were more
than anticipated, both sides received an adjustment at
closing.
"Helps to ensure that no governmental entity acts
" without an opportunity for public input by requiring
Administrative Procedure Act public disclosure and discourse before rulemaking
Ex. The Administrative Procedure Act was partially
enacted in response to FDR's New Deal, in an effort to
prevent the federal government from having too
much power.
"A fact that might cause the buyer to change his mind
"
adverse material fact about purchasing the property Ex. When Chet learned
that a railway was being built behind the property, he
withdrew his offerr. That was an adverse material fact he couldn't
live with.
"Specifies style or architecture of buildings in an area in
" order to preserve charm, feel, etc.
aesthetic zoning Ex. Zoning required that all homes in Ocean City be
either Victorian or Tudor in design, and no taller than
three stories.
/ 4/131
CE Shop Real Estate NEWEST EXAM | COMPLETE
QUESTIONS AND CORRECT ANSWERS | GRADED A+ |
LATEST EXAM | VERIFIED ANSWERS| BRAND NEW !!
"Section 1031 of the Internal Revenue Code allows the
owner of real property to sell that property and then
reinvest the proceeds in a "like-kind" property and
1031 tax-deferred exchange
defer
paying any capital gains taxes.
Ex. Real estate investors can take advantage of the
1031 tax-deferred exchange to defer capital gains taxes
when selling a property provided the money is rolled
into another """"like"""" purchase
" "Land sharing a common border
abutting Ex. Many neighbors find that fences make abutting properties
more tolerable.
"Allows a lender to demand immediate and full payment
" of all debt owed if a buyer defaults
acceleration clause Ex. When Wendy stopped making home loan payments,
her lender told her she must pay off her entire balance
or risk foreclosure.
"The addition of value to property through labor or the
" addition of new materials, including an increase in
accession land through natural processes
Ex. Jonathan's property borders a bay. The bay
receded, and Jonathan gained an extra 10 feet of
property to his land through accession.
"An incidental or subordinate use to the primary use of the
"
property
accessory use
Ex. Andy's military bunker in his back yard constituted
an accessory use of the property.
/ 1/131
,10/20/25, 4:37 PM Real Estate - The CE Shop
"One of the fiduciary duties, accounting means an agent
is accountable for any funds or properties entrusted to
" the agent. This is a duty that survives termination of an
accounting agency agreement.
Ex. Cameron accepted an earnest money deposit from his buyer.
His duty of
accounting means that he must safeguard the funds and
handle them according to the agreement with his
client and the policies of his firm.
"Land build up over water by sand, silt, or gravel
"
Ex. Jillian's property grew through accretion when a
accretion landslide wiped out an adjacent creek.
"Expenses that are accruing but are not yet payable (e.g.,
property taxes)
" Ex. At closing, accrued items must be accounted for on the
settlement statement. If the seller has accrued expenses not yet
accrued items
payable, the amount accrued will be a seller debit and buyer
credit.
"A requirement for deed transfer; a public official must
acknowledge the grantor's signature
" Ex. Gary purchased a duplex. The grantor signed the deed; a
notary public acknowledged his signature.
acknowledgment
"43,560 square feet
"
Ex. The Jones farmhouse was on 10 acres. Their parcel had
acre 435,600 square feet.
/ 2/131
,10/20/25, 4:37 PM Real Estate - The CE Shop
"Intentional misstatement of a material fact
"
Ex. ""Sure, the foundation is perfectly safe!"" Lisa said,
active fraud
even though she knew full well that there was a crack
the size if Toledo in it.
"Abuse of a property by a person who holds possession through
"
a life estate
act of waste
Ex. When Minerva inherited the historic mansion and
turned it into an illegal video gaming parlor, this was an
act of waste that caused her to lose title to the property.
" "Express notice given directly to a person
actual notice Ex. Karen told her neighbors she would be moving; this was
actual notice.
"An addition to a real estate contract that's added before contract
"
acceptance
addendum
Ex. Steve decided to ask for the washer and dryer after
all, so he asked his broker to write up an addendum to
the sales contract.
"A mortgage with a rate that adjusts based on changes in a market
"
index
adjustable rate mortgage
Ex. Caleb had a 5/1 ARM. His loan had a fixed interest
(ARM)
rate for the first five years, and after 5 years, it could
change annually depending changes to the market
index.
"The final basis for taxing purposes computed by taking
" acquisition costs plus capital improvements and
adjusted basis subtracting depreciation taken
Ex. When Mark computed the adjusted basis in his property, he
had to subtract
$10,000 in depreciation he had taken over the years.
"The dollar value or percentage added to or subtracted
" from the sales price of a comparable to arrive at an
adjustment indicated value for the subject
Ex. Whether the adjustment is made for a "good" or a
"bad" feature, it is made to the comparable, not to the
subject.
"The date on which the interest rate changes on an adjustable
"
rate mortgage.
adjustment date
Ex. Karey made sure to refinance before her adjustment
rate. Rates had dropped and she could get a better
/ 3/131
, 10/20/25, 4:37 PM Real Estate - The CE Shop
rate than the one she'd face once her ARM adjusted.
"A debit or credit at closing to coincide with appropriate closing
"
costs
adjustment (loan)
Ex. When the document preparation fees were more
than anticipated, both sides received an adjustment at
closing.
"Helps to ensure that no governmental entity acts
" without an opportunity for public input by requiring
Administrative Procedure Act public disclosure and discourse before rulemaking
Ex. The Administrative Procedure Act was partially
enacted in response to FDR's New Deal, in an effort to
prevent the federal government from having too
much power.
"A fact that might cause the buyer to change his mind
"
adverse material fact about purchasing the property Ex. When Chet learned
that a railway was being built behind the property, he
withdrew his offerr. That was an adverse material fact he couldn't
live with.
"Specifies style or architecture of buildings in an area in
" order to preserve charm, feel, etc.
aesthetic zoning Ex. Zoning required that all homes in Ocean City be
either Victorian or Tudor in design, and no taller than
three stories.
/ 4/131
