Gold Coast School Real Estate Questions
Ch.1-19 With Correct Answers
1. The real estate market is local in nature what does that mean? -
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CORRECT ANSWER✔✔-Information about real estate can best be found
| | | | | | | | |
through local sources, which makes the real estate market local in
| | | | | | | | | | |
nature
2. You would expect a real estate licensee to perform all of the following
| | | | | | | | | | | | |
activities, EXCEPT:
| | |
A. Providing expert knowledge about construction methods and
| | | | | | | |
materials
B. Providing expert knowledge to members of the public in the
| | | | | | | | | | |
performance of specified services of real estate | | | | | | |
C. Following up with customers and clients after a transaction has been
| | | | | | | | | | | |
completed |
D. Acting as an intermediary, or agent, between two or more people in
| | | | | | | | | | | | |
the negotiation of the sale, purchase, or lease of real estate - CORRECT
| | | | | | | | | | | | |
ANSWER✔✔-A. Providing expert knowledge about construction | | | | | |
methods and materials | |
3. A real estate licensee is expected to have expert knowledge in what
| | | | | | | | | | | | |
three areas? |
,A. Valuation, marketing, and property transfer
| | | | |
B. Mortgages, property taxes, and homeowners' insurance policies
| | | | | | |
C. Residential real estate, commercial real estate, and surveys
| | | | | | | | |
D. Area schools, local crime rates, and proximity to potential employers -
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CORRECT ANSWER✔✔-A. Valuation, marketing, and property transfer
| | | | | | |
4. What is a comparative market analysis?
| | | | | |
A. A comparison of assessed values in the same neighborhood
| | | | | | | | |
B. A value estimate based on recent sales of identical properties in the
| | | | | | | | | | | | |
same neighborhood
|
C. A value estimate based in recent sales of similar properties in the
| | | | | | | | | | | | |
same neighborhood
| |
D. An appraisal of the value of a property - CORRECT ANSWER✔✔-C. A
| | | | | | | | | | | | |
value estimate based in recent sales of similar properties in the same
| | | | | | | | | | | |
neighborhood
5. Which type of valuation must be performed in accordance with the
| | | | | | | | | | | |
Uniform Standards of Professional Appraisal Practice (USPAP)
| | | | | |
A. Appraisal in a federally-related transaction
| | | | |
B. Broker price opinion (BPO)
| | | |
C. Comparative market analysis (CMA)
| | | |
D. None of the above - CORRECT ANSWER✔✔-A. Appraisal in a
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federally-related transaction |
,6. Many real estate licensees engage in "farming". Which of the
| | | | | | | | | | |
following best describes what that means?
| | | | |
A. They conduct open houses on weekends
| | | | | | |
B. They use marketing vehicles such as direct mailing and
| | | | | | | | | |
advertisements in real estate magazines | | | |
C. They concentrate on the sale of agricultural properties
| | | | | | | |
D. They concentrate on one type of property or in a particular
| | | | | | | | | | | |
neighborhood - CORRECT ANSWER✔✔-D. They concentrate on one type | | | | | | | |
of property or in a particular neighborhood
| | | | | | |
All of the following would be considered commercial property, EXCEPT
| | | | | | | | |
A. an office building that accommodates three tenants
| | | | | | |
B. A high-rise apartment building in the downtown area of the city
| | | | | | | | | | |
C. A shopping center that adjoins a residential neighborhood
| | | | | | | |
D. A large house that has been subdivided into four apartments -
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CORRECT ANSWER✔✔-D. A large house that has been subdivided into
| | | | | | | | | |
four apartments |
If the sale of a business involves the transfer of ownership of shares of
| | | | | | | | | | | | | |
stock, what additional requirement is imposed?
| | | | |
A. The real estate licensee must be associated with a brokerage firm
| | | | | | | | | | |
B. A brokerage firm must be brought in to handle the transaction
| | | | | | | | | | |
, C. The real estate licensee must have a securities license
| | | | | | | | |
D. The real estate licensee must have experience as a stockbroker -
| | | | | | | | | | | |
CORRECT ANSWER✔✔-C. The real estate licensee must have a securities
| | | | | | | | |
license
|
Which real estate professional is expected to have the greatest level of
| | | | | | | | | | | |
knowledge and experience? - CORRECT ANSWER✔✔-a real estate
| | | | | | | |
counselor
all of the following are responsibilities of a property manager, EXCEPT
| | | | | | | | | |
A. Handling the payment of taxes, insurance, and operating expenses for
| | | | | | | | | |
the property
| | |
B. Evaluating the investment value of the property
| | | | | | |
C. Locating tenants, collecting rents, maintaining records, and
| | | | | | | |
scheduling maintenance | |
D. Protecting the owner's investment and maximizing the profitability of
| | | | | | | | |
the investment - CORRECT ANSWER✔✔-B. Evaluating the investment
| | | | | | | | |
value of the property
| | |
According to F.S. 475, all of the following transactions are considered
| | | | | | | | | | |
residential transactions, EXCEPT: | |
A. A lease on a unit in a duplex, with an option to purchase the unit
| | | | | | | | | | | | | | |
B. The sale of a 10-unit apartment building
| | | | | | |
C. The sale of an eight-acre strawberry farm
| | | | | | |
Ch.1-19 With Correct Answers
1. The real estate market is local in nature what does that mean? -
| | | | | | | | | | | | | |
CORRECT ANSWER✔✔-Information about real estate can best be found
| | | | | | | | |
through local sources, which makes the real estate market local in
| | | | | | | | | | |
nature
2. You would expect a real estate licensee to perform all of the following
| | | | | | | | | | | | |
activities, EXCEPT:
| | |
A. Providing expert knowledge about construction methods and
| | | | | | | |
materials
B. Providing expert knowledge to members of the public in the
| | | | | | | | | | |
performance of specified services of real estate | | | | | | |
C. Following up with customers and clients after a transaction has been
| | | | | | | | | | | |
completed |
D. Acting as an intermediary, or agent, between two or more people in
| | | | | | | | | | | | |
the negotiation of the sale, purchase, or lease of real estate - CORRECT
| | | | | | | | | | | | |
ANSWER✔✔-A. Providing expert knowledge about construction | | | | | |
methods and materials | |
3. A real estate licensee is expected to have expert knowledge in what
| | | | | | | | | | | | |
three areas? |
,A. Valuation, marketing, and property transfer
| | | | |
B. Mortgages, property taxes, and homeowners' insurance policies
| | | | | | |
C. Residential real estate, commercial real estate, and surveys
| | | | | | | | |
D. Area schools, local crime rates, and proximity to potential employers -
| | | | | | | | | | |
CORRECT ANSWER✔✔-A. Valuation, marketing, and property transfer
| | | | | | |
4. What is a comparative market analysis?
| | | | | |
A. A comparison of assessed values in the same neighborhood
| | | | | | | | |
B. A value estimate based on recent sales of identical properties in the
| | | | | | | | | | | | |
same neighborhood
|
C. A value estimate based in recent sales of similar properties in the
| | | | | | | | | | | | |
same neighborhood
| |
D. An appraisal of the value of a property - CORRECT ANSWER✔✔-C. A
| | | | | | | | | | | | |
value estimate based in recent sales of similar properties in the same
| | | | | | | | | | | |
neighborhood
5. Which type of valuation must be performed in accordance with the
| | | | | | | | | | | |
Uniform Standards of Professional Appraisal Practice (USPAP)
| | | | | |
A. Appraisal in a federally-related transaction
| | | | |
B. Broker price opinion (BPO)
| | | |
C. Comparative market analysis (CMA)
| | | |
D. None of the above - CORRECT ANSWER✔✔-A. Appraisal in a
| | | | | | | | | | |
federally-related transaction |
,6. Many real estate licensees engage in "farming". Which of the
| | | | | | | | | | |
following best describes what that means?
| | | | |
A. They conduct open houses on weekends
| | | | | | |
B. They use marketing vehicles such as direct mailing and
| | | | | | | | | |
advertisements in real estate magazines | | | |
C. They concentrate on the sale of agricultural properties
| | | | | | | |
D. They concentrate on one type of property or in a particular
| | | | | | | | | | | |
neighborhood - CORRECT ANSWER✔✔-D. They concentrate on one type | | | | | | | |
of property or in a particular neighborhood
| | | | | | |
All of the following would be considered commercial property, EXCEPT
| | | | | | | | |
A. an office building that accommodates three tenants
| | | | | | |
B. A high-rise apartment building in the downtown area of the city
| | | | | | | | | | |
C. A shopping center that adjoins a residential neighborhood
| | | | | | | |
D. A large house that has been subdivided into four apartments -
| | | | | | | | | | | |
CORRECT ANSWER✔✔-D. A large house that has been subdivided into
| | | | | | | | | |
four apartments |
If the sale of a business involves the transfer of ownership of shares of
| | | | | | | | | | | | | |
stock, what additional requirement is imposed?
| | | | |
A. The real estate licensee must be associated with a brokerage firm
| | | | | | | | | | |
B. A brokerage firm must be brought in to handle the transaction
| | | | | | | | | | |
, C. The real estate licensee must have a securities license
| | | | | | | | |
D. The real estate licensee must have experience as a stockbroker -
| | | | | | | | | | | |
CORRECT ANSWER✔✔-C. The real estate licensee must have a securities
| | | | | | | | |
license
|
Which real estate professional is expected to have the greatest level of
| | | | | | | | | | | |
knowledge and experience? - CORRECT ANSWER✔✔-a real estate
| | | | | | | |
counselor
all of the following are responsibilities of a property manager, EXCEPT
| | | | | | | | | |
A. Handling the payment of taxes, insurance, and operating expenses for
| | | | | | | | | |
the property
| | |
B. Evaluating the investment value of the property
| | | | | | |
C. Locating tenants, collecting rents, maintaining records, and
| | | | | | | |
scheduling maintenance | |
D. Protecting the owner's investment and maximizing the profitability of
| | | | | | | | |
the investment - CORRECT ANSWER✔✔-B. Evaluating the investment
| | | | | | | | |
value of the property
| | |
According to F.S. 475, all of the following transactions are considered
| | | | | | | | | | |
residential transactions, EXCEPT: | |
A. A lease on a unit in a duplex, with an option to purchase the unit
| | | | | | | | | | | | | | |
B. The sale of a 10-unit apartment building
| | | | | | |
C. The sale of an eight-acre strawberry farm
| | | | | | |
