VanEd National Real Estate EXAM Questions with 100% Correct Answers |
Verified | Updated (Actual Exam) LATEST VERSION!!
Question: A sublessee is a(n) - (ANSWER). Tenant
Question: A major disadvantage of owning investment property might be - (ANSWER)Lack of Liquidity
Question: The most favorable thing about a VA loan is that - (ANSWER)VA loans guarranty gives the
veteran favorable financing terms because the lender is protected from loss
Question: Once the funds of a construction loan are disbursed to the contractor, and if the sub-
contractor is not paid, - (ANSWER). The sub-contractor can file a lien against the home, even if the home
is sold, after it closes
Question: Marie dies intestate, and her property will transfer according to intestate succession. This
means - (ANSWER). The courts will give the property based on state law
Question: A seller cannot get marketable title due to a break in the chain of title. He will need -
(ANSWER)
- (ANSWER). Quiet title Action
Question: Which is the term used for the person or organization who acts as an intermediary for the
purpose of obtaining financing? - (ANSWER)Mortgage Broker
Question: Seller Andy had a custom table made to fit in a corner of his study, attached to the floorboards
on one end. When he sells his home the table will be considered - (ANSWER)A fixture
Question: The term lis pendent refers to - (ANSWER). Advance notice of a lawsuit to be filed
Question: What kind of zoning would require that a developer build 10% of the homes in a subdivision
for low-income families? - (ANSWER)Inclusionary
,VanEd National Real Estate EXAM Questions with 100% Correct Answers |
Verified | Updated (Actual Exam) LATEST VERSION!!
Question: Functional obsolescence can be caused by - (ANSWER). An over-improvement of the property
Question: An owner may properly refuse to rent to a prospective tenant because the prospective tenant
is - (ANSWER)A drug addict with abusive behavior
Question: 'A' purchased a commercial lot from 'B' based on 'B's fraudulent representation as to lot size,
zoning, and water connections. 'A' cannot use the parcel purchased. What remedy should 'A' seek? -
(ANSWER)Recission
Question: An offer is accepted one day after the offer period expires. How could the offeror create a valid
contract? - (ANSWER)Have the offeror sign a waiver of the offer period
Question: A broker has an exclusive-right-to sell listing. A buyer offers to purchase the listed property.
The buyer knows that the broker is an agent of the seller, yet tells the agent in confidence that she may
be willing to increase his offer by $10,000 if it is not accepted by the seller. The broker - (ANSWER)
- (ANSWER). Must convey this information to the seller
Question: To perfect a lien against personal property, a creditor would record a(n) - (ANSWER). Financing
Statment
Question: A property manager needs to have a bid on floor coverings based on this statement of fact.
"The building he manages is 90' by 60'. Sixty percent of the building will be carpeted at a cost of $16.00
per square yard, and the remainder will be tiled at a cost of $8.00 per square yard. Estimate the cost of
the floor covering. - (ANSWER)$7,680
Question: - (ANSWER)
,VanEd National Real Estate EXAM Questions with 100% Correct Answers |
Verified | Updated (Actual Exam) LATEST VERSION!!
A FSBO seller and buyer agree to terms on a contract to purchase. The buyer then finds a structural
defect during his inspection, and cancels the contract. - (ANSWER)The FSBO seller makes cosmetic
repairs to cover the damage, and lists the property with Agent M and informs him of the defect. Buyer C
buys the home, and does not perform an inspection. Only after closing and moving into the home does
buyer C discover the material defect. Who is liable? Both FSBO and Agent M are liabe
Question: Which if the following is NOT considered an element of value? - (ANSWER)Cost
Question: A property has a net income of $40,000.00. One appraiser decides to use a 12 % capitalization
rate, while a second appraiser uses a 10% rate. Use of the higher rate results in - (ANSWER). $66,667
decrease in appraised value
Question: A broker is instructed not to show a property while the owner, who is caucasian, is away.
While the owner is out of town, an African American couple requests to be shown the property. The
broker should - (ANSWER). Refuse to show the property
Question: An agency that cannot be terminated by an owner is a(n) - (ANSWER)Agency coupled with an
interest
Question: A valid contract would be unenforceable because of - (ANSWER)The statue of limitations
Question: The loan that would command the highest loan-to-value ratio would be for - (ANSWER). A
single-family residence
Question: Of the following, which would be considered equivalent to an annuity by an owner? -
(ANSWER)A long term-ground lease
Question: Real estate property taxes are based on a banker's year and are payable in arrears. The taxes
were $1,214.00 for the year. The closing is on April 1. The seller is - (ANSWER)Debited, and the buyer is
credited $306.67
, VanEd National Real Estate EXAM Questions with 100% Correct Answers |
Verified | Updated (Actual Exam) LATEST VERSION!!
Question: The parcel of land you are viewing is 3 acres. The front of the square lot is 450 feet wide. What
is the depth? - (ANSWER)290.4 feet
Question: A buyer is obtaining a new private loan with a principal amount of $250,000.00 at 9%. Closing
takes place on April 15. The interest due will appear on the worksheet as - (ANSWER)Debit $937.50 to
buyer, and credit broker $937.50
Question: Two brokers from different companies have gotten together to discuss what commission they
will charge. This is prohibited by - (ANSWER). The Sherman Anti-Trust Act
Question: The previous tenant of your investment listing died of AIDS. Should you disclose this to
potential buyers, and why? - (ANSWER)In most states, Fiduciary Duty of Confidentiality precludes you
from disclosing non-material facts (however some states do require disclosure).
Question: If you think you smell radon gas in a home, - (ANSWER)Investigate the source, as any gas leak
is serious and radon gas is odorless
Question: The increased value resulting from the consolidation of 2 adjacent lots into 1 larger lot is -
(ANSWER)
- (ANSWER). Plottage
Question: An ad used a term that triggered full disclosure of loan terms. The ad stated - (ANSWER).
$10,000 down
Question: Deducting the cost of the property in equal annual installments is - (ANSWER)Straight line
depreciation
Question: Private deed restrictions are - (ANSWER). Restrictive covenants, restrict the use of the
property, encumbrances
Verified | Updated (Actual Exam) LATEST VERSION!!
Question: A sublessee is a(n) - (ANSWER). Tenant
Question: A major disadvantage of owning investment property might be - (ANSWER)Lack of Liquidity
Question: The most favorable thing about a VA loan is that - (ANSWER)VA loans guarranty gives the
veteran favorable financing terms because the lender is protected from loss
Question: Once the funds of a construction loan are disbursed to the contractor, and if the sub-
contractor is not paid, - (ANSWER). The sub-contractor can file a lien against the home, even if the home
is sold, after it closes
Question: Marie dies intestate, and her property will transfer according to intestate succession. This
means - (ANSWER). The courts will give the property based on state law
Question: A seller cannot get marketable title due to a break in the chain of title. He will need -
(ANSWER)
- (ANSWER). Quiet title Action
Question: Which is the term used for the person or organization who acts as an intermediary for the
purpose of obtaining financing? - (ANSWER)Mortgage Broker
Question: Seller Andy had a custom table made to fit in a corner of his study, attached to the floorboards
on one end. When he sells his home the table will be considered - (ANSWER)A fixture
Question: The term lis pendent refers to - (ANSWER). Advance notice of a lawsuit to be filed
Question: What kind of zoning would require that a developer build 10% of the homes in a subdivision
for low-income families? - (ANSWER)Inclusionary
,VanEd National Real Estate EXAM Questions with 100% Correct Answers |
Verified | Updated (Actual Exam) LATEST VERSION!!
Question: Functional obsolescence can be caused by - (ANSWER). An over-improvement of the property
Question: An owner may properly refuse to rent to a prospective tenant because the prospective tenant
is - (ANSWER)A drug addict with abusive behavior
Question: 'A' purchased a commercial lot from 'B' based on 'B's fraudulent representation as to lot size,
zoning, and water connections. 'A' cannot use the parcel purchased. What remedy should 'A' seek? -
(ANSWER)Recission
Question: An offer is accepted one day after the offer period expires. How could the offeror create a valid
contract? - (ANSWER)Have the offeror sign a waiver of the offer period
Question: A broker has an exclusive-right-to sell listing. A buyer offers to purchase the listed property.
The buyer knows that the broker is an agent of the seller, yet tells the agent in confidence that she may
be willing to increase his offer by $10,000 if it is not accepted by the seller. The broker - (ANSWER)
- (ANSWER). Must convey this information to the seller
Question: To perfect a lien against personal property, a creditor would record a(n) - (ANSWER). Financing
Statment
Question: A property manager needs to have a bid on floor coverings based on this statement of fact.
"The building he manages is 90' by 60'. Sixty percent of the building will be carpeted at a cost of $16.00
per square yard, and the remainder will be tiled at a cost of $8.00 per square yard. Estimate the cost of
the floor covering. - (ANSWER)$7,680
Question: - (ANSWER)
,VanEd National Real Estate EXAM Questions with 100% Correct Answers |
Verified | Updated (Actual Exam) LATEST VERSION!!
A FSBO seller and buyer agree to terms on a contract to purchase. The buyer then finds a structural
defect during his inspection, and cancels the contract. - (ANSWER)The FSBO seller makes cosmetic
repairs to cover the damage, and lists the property with Agent M and informs him of the defect. Buyer C
buys the home, and does not perform an inspection. Only after closing and moving into the home does
buyer C discover the material defect. Who is liable? Both FSBO and Agent M are liabe
Question: Which if the following is NOT considered an element of value? - (ANSWER)Cost
Question: A property has a net income of $40,000.00. One appraiser decides to use a 12 % capitalization
rate, while a second appraiser uses a 10% rate. Use of the higher rate results in - (ANSWER). $66,667
decrease in appraised value
Question: A broker is instructed not to show a property while the owner, who is caucasian, is away.
While the owner is out of town, an African American couple requests to be shown the property. The
broker should - (ANSWER). Refuse to show the property
Question: An agency that cannot be terminated by an owner is a(n) - (ANSWER)Agency coupled with an
interest
Question: A valid contract would be unenforceable because of - (ANSWER)The statue of limitations
Question: The loan that would command the highest loan-to-value ratio would be for - (ANSWER). A
single-family residence
Question: Of the following, which would be considered equivalent to an annuity by an owner? -
(ANSWER)A long term-ground lease
Question: Real estate property taxes are based on a banker's year and are payable in arrears. The taxes
were $1,214.00 for the year. The closing is on April 1. The seller is - (ANSWER)Debited, and the buyer is
credited $306.67
, VanEd National Real Estate EXAM Questions with 100% Correct Answers |
Verified | Updated (Actual Exam) LATEST VERSION!!
Question: The parcel of land you are viewing is 3 acres. The front of the square lot is 450 feet wide. What
is the depth? - (ANSWER)290.4 feet
Question: A buyer is obtaining a new private loan with a principal amount of $250,000.00 at 9%. Closing
takes place on April 15. The interest due will appear on the worksheet as - (ANSWER)Debit $937.50 to
buyer, and credit broker $937.50
Question: Two brokers from different companies have gotten together to discuss what commission they
will charge. This is prohibited by - (ANSWER). The Sherman Anti-Trust Act
Question: The previous tenant of your investment listing died of AIDS. Should you disclose this to
potential buyers, and why? - (ANSWER)In most states, Fiduciary Duty of Confidentiality precludes you
from disclosing non-material facts (however some states do require disclosure).
Question: If you think you smell radon gas in a home, - (ANSWER)Investigate the source, as any gas leak
is serious and radon gas is odorless
Question: The increased value resulting from the consolidation of 2 adjacent lots into 1 larger lot is -
(ANSWER)
- (ANSWER). Plottage
Question: An ad used a term that triggered full disclosure of loan terms. The ad stated - (ANSWER).
$10,000 down
Question: Deducting the cost of the property in equal annual installments is - (ANSWER)Straight line
depreciation
Question: Private deed restrictions are - (ANSWER). Restrictive covenants, restrict the use of the
property, encumbrances
