RESIDENTIAL SALES COMPARISON UPDATED PRACTICE
EXAM QUESTIONS AND SOLUTIONS GUARANTEE A+
✔✔The real estate market tends to be
Lagging at the end of short-term economic cycles
An early responder to short-term economic cycles
Sluggish to recover from short-term economic cycles
Unrelated to short-term economic cycles - ✔✔an early responder to short term
economic cycles
✔✔Your subject is located in an area where property values have been rising
consistently at 1.5% a month for the past twelve months. You have located a
comparable that is practically identical to your subject. It sold seven months ago for
$200,000. How much should you adjust the price?
$17,500
$21,000
$22,500
$24,000 - ✔✔21000
✔✔The "shift" keys on the HP 12C are _____________ colored.
Blue only
Blue and gold
Gold only
Red, white, and blue - ✔✔We have two shift keys - blue and gold.
✔✔You started with $8,652.91 in your bank account. You made the following
withdrawals: $123.65, $1,420.00, and $3,250.75. You made the following deposits:
$1,200.00, $250.00, and $149.75. What is your current bank balance?
$5,135.68
$5,458.26
$7,116.89
You are overdrawn - ✔✔$5,458.26
✔✔A lot is 1,456.5 feet by 782.5 feet. How many acres is that?
12.21
16.32
21.44
26.16 - ✔✔26.16
✔✔How much is [(782 - 414.5 + 23) + (25 x 3.9)] ÷ 36.4?
,11.59
13.41
35.78
125.85 - ✔✔13.41
✔✔An owner sells her house for $269,500. The sales commission is 5% and she
agrees to pay 1.5% towards the buyer's closing costs. How much does she receive?
$248,356.50
$251,982.50
$253,625.75
$261,425.25 - ✔✔251,982.5
✔✔You buy a new SUV for $38,750. You get a 10% rebate but pay 6% state sales tax
and 1.5% county sales tax. What is the net amount you have to pay?
$33,608.14
$35,298.72
$36,456.99
$37,490.63 - ✔✔37490.63
✔✔Your apartment building has 18 units rented at $950 per month, 26 units rented at
$1,100 and 8 units rented at $1,250 per month. How much is the total annual rent?
$345,700
$668,400
$682,450
$880,200 - ✔✔668,400
✔✔A lot is 445.24 feet by 118.39 feet. How many acres is that?
1.21
1.32
1.44
1.88 - ✔✔1.21
✔✔What is the future value of $20,000 if you deposited it today in a savings account
paying 9% interest per year, and left it, without making any other deposits, for 12 years?
$48,891.32
$53,266.54
$56,253.30
$64,567.89 - ✔✔2.812665 X 20,000 = $56,253.30
, ✔✔In the Six Functions of a Dollar table, column ___ is also called the annuity column.
1
2
4
5 - ✔✔Column 2 is also called the Annuity Column.
✔✔What is the future value of an annuity if you deposited $2,500 each year for 8 years
into a savings account paying 9% interest per year?
$24,384.02
$27,571.19
$31,773.90
$33,635.29 - ✔✔$27,571.19
✔✔Compounding is used so solve for ___________ values, whereas discounting
solves for ___________ values.
Present, future
Future, present
Future, concurrent
Present, past - ✔✔Compounding solves for future values, whereas discounting solves
for present values.
✔✔Compounding and discounting are ___________.
Opposites
Equal
Synonymous
Not related - ✔✔Opposites
✔✔At a 9% annual "discount" rate, what is the present worth of $20,000 if you will not
receive it for another 13 years?
$5,555.62
$6,282.90
$6,523.58
$10,420.62 - ✔✔326179 X $20,000 = $6,523.58
✔✔At a 9% annual "discount" rate, what is the present worth of a 20 year mortgage
note that gives you annual payments of $3,500?
$18,302.84
$23,591.26
$28,816.90
EXAM QUESTIONS AND SOLUTIONS GUARANTEE A+
✔✔The real estate market tends to be
Lagging at the end of short-term economic cycles
An early responder to short-term economic cycles
Sluggish to recover from short-term economic cycles
Unrelated to short-term economic cycles - ✔✔an early responder to short term
economic cycles
✔✔Your subject is located in an area where property values have been rising
consistently at 1.5% a month for the past twelve months. You have located a
comparable that is practically identical to your subject. It sold seven months ago for
$200,000. How much should you adjust the price?
$17,500
$21,000
$22,500
$24,000 - ✔✔21000
✔✔The "shift" keys on the HP 12C are _____________ colored.
Blue only
Blue and gold
Gold only
Red, white, and blue - ✔✔We have two shift keys - blue and gold.
✔✔You started with $8,652.91 in your bank account. You made the following
withdrawals: $123.65, $1,420.00, and $3,250.75. You made the following deposits:
$1,200.00, $250.00, and $149.75. What is your current bank balance?
$5,135.68
$5,458.26
$7,116.89
You are overdrawn - ✔✔$5,458.26
✔✔A lot is 1,456.5 feet by 782.5 feet. How many acres is that?
12.21
16.32
21.44
26.16 - ✔✔26.16
✔✔How much is [(782 - 414.5 + 23) + (25 x 3.9)] ÷ 36.4?
,11.59
13.41
35.78
125.85 - ✔✔13.41
✔✔An owner sells her house for $269,500. The sales commission is 5% and she
agrees to pay 1.5% towards the buyer's closing costs. How much does she receive?
$248,356.50
$251,982.50
$253,625.75
$261,425.25 - ✔✔251,982.5
✔✔You buy a new SUV for $38,750. You get a 10% rebate but pay 6% state sales tax
and 1.5% county sales tax. What is the net amount you have to pay?
$33,608.14
$35,298.72
$36,456.99
$37,490.63 - ✔✔37490.63
✔✔Your apartment building has 18 units rented at $950 per month, 26 units rented at
$1,100 and 8 units rented at $1,250 per month. How much is the total annual rent?
$345,700
$668,400
$682,450
$880,200 - ✔✔668,400
✔✔A lot is 445.24 feet by 118.39 feet. How many acres is that?
1.21
1.32
1.44
1.88 - ✔✔1.21
✔✔What is the future value of $20,000 if you deposited it today in a savings account
paying 9% interest per year, and left it, without making any other deposits, for 12 years?
$48,891.32
$53,266.54
$56,253.30
$64,567.89 - ✔✔2.812665 X 20,000 = $56,253.30
, ✔✔In the Six Functions of a Dollar table, column ___ is also called the annuity column.
1
2
4
5 - ✔✔Column 2 is also called the Annuity Column.
✔✔What is the future value of an annuity if you deposited $2,500 each year for 8 years
into a savings account paying 9% interest per year?
$24,384.02
$27,571.19
$31,773.90
$33,635.29 - ✔✔$27,571.19
✔✔Compounding is used so solve for ___________ values, whereas discounting
solves for ___________ values.
Present, future
Future, present
Future, concurrent
Present, past - ✔✔Compounding solves for future values, whereas discounting solves
for present values.
✔✔Compounding and discounting are ___________.
Opposites
Equal
Synonymous
Not related - ✔✔Opposites
✔✔At a 9% annual "discount" rate, what is the present worth of $20,000 if you will not
receive it for another 13 years?
$5,555.62
$6,282.90
$6,523.58
$10,420.62 - ✔✔326179 X $20,000 = $6,523.58
✔✔At a 9% annual "discount" rate, what is the present worth of a 20 year mortgage
note that gives you annual payments of $3,500?
$18,302.84
$23,591.26
$28,816.90
