ASREB EXAM STUDY QUESTIONS
AND ANSWERS WITH VERIFIED
SOLUTIONS 100% CORRECT
"R" was the listing broker for client "N". The listing expired
and "N" is using "P" as their broker. "R" knows "N" will
accept $50,000 less than they are asking. Broker "R":
A. may never disclose this information
B. may disclose this information only with written
permission from the seller and listing agent
C. may disclose it because the agency terminated, and no
fiduciary duty remains
D. may disclose it if asked by a buyer broker "R" now
represents - correct answer- B. may disclose
this information only with written permission from the
seller and listing agent
1 acre = ____ sq. ft. - correct answer- 43,560
sq. ft.
,1 mile = ___ feet - correct answer- 5,280
A "mutual fund" for pooling investor money for
investment in real estate:
A. syndicate
B. corporation
C. real estate investment trust
D. limited partnership - correct answer- C. real
estate investment trust
A bank will loan 70% of the appraised value of a home at
an interest rate of 7 1/2% per annum. The first year's
interest amounted to $5,250, (no monthly principal
reductions). What is the appraised value of the property?
A. $100,000
B. $111,000
C. $125,000
D. $143,750 - correct answer- A. $100,000
,#5 on page 44 for explanation
A bankruptcy trustee determines that a homeowner has
$300,000 in equity in their primary residence. If the
property is sold through the bankruptcy, how much of the
proceeds can the owner keep?
A. none
B. $50,000
C. $150,000
D. $200,000 - correct answer- C. $150,000
A broker is hired by a seller to sell the client's real
property. The broker must obey which of the following?
A. the concept of buyer beware
B. all lawful instructions of the client
C. all of the buyer's instructions
, D. full disclosure to the buyer of any and all information -
correct answer- B. all lawful instruction of the
client
A broker sold the SW 1/4, of the southwest 1/4, of the
southwest 1/4, and the W 1/2, of the northwest 1/4; of
Section 26, Township 4, Range 3, East. How many acres
are included in the sale?
A. 160
B. 1.25
C. 80
D. 90 - correct answer- D. 90
#15 on page 45 for explanation
A broker sold the SW 1/4, of the southwest 1/4, of the
southwest 1/4, and the W 1/2, of the northwest 1/4; of
Section 26, Township 4, Range 3, East. How many acres
are included in the sale?
AND ANSWERS WITH VERIFIED
SOLUTIONS 100% CORRECT
"R" was the listing broker for client "N". The listing expired
and "N" is using "P" as their broker. "R" knows "N" will
accept $50,000 less than they are asking. Broker "R":
A. may never disclose this information
B. may disclose this information only with written
permission from the seller and listing agent
C. may disclose it because the agency terminated, and no
fiduciary duty remains
D. may disclose it if asked by a buyer broker "R" now
represents - correct answer- B. may disclose
this information only with written permission from the
seller and listing agent
1 acre = ____ sq. ft. - correct answer- 43,560
sq. ft.
,1 mile = ___ feet - correct answer- 5,280
A "mutual fund" for pooling investor money for
investment in real estate:
A. syndicate
B. corporation
C. real estate investment trust
D. limited partnership - correct answer- C. real
estate investment trust
A bank will loan 70% of the appraised value of a home at
an interest rate of 7 1/2% per annum. The first year's
interest amounted to $5,250, (no monthly principal
reductions). What is the appraised value of the property?
A. $100,000
B. $111,000
C. $125,000
D. $143,750 - correct answer- A. $100,000
,#5 on page 44 for explanation
A bankruptcy trustee determines that a homeowner has
$300,000 in equity in their primary residence. If the
property is sold through the bankruptcy, how much of the
proceeds can the owner keep?
A. none
B. $50,000
C. $150,000
D. $200,000 - correct answer- C. $150,000
A broker is hired by a seller to sell the client's real
property. The broker must obey which of the following?
A. the concept of buyer beware
B. all lawful instructions of the client
C. all of the buyer's instructions
, D. full disclosure to the buyer of any and all information -
correct answer- B. all lawful instruction of the
client
A broker sold the SW 1/4, of the southwest 1/4, of the
southwest 1/4, and the W 1/2, of the northwest 1/4; of
Section 26, Township 4, Range 3, East. How many acres
are included in the sale?
A. 160
B. 1.25
C. 80
D. 90 - correct answer- D. 90
#15 on page 45 for explanation
A broker sold the SW 1/4, of the southwest 1/4, of the
southwest 1/4, and the W 1/2, of the northwest 1/4; of
Section 26, Township 4, Range 3, East. How many acres
are included in the sale?
