WEICHERT REAL ESTATE SCHOOL
CHAPTER 1 QUESTIONS AND
ANSWERS 100% CORRECT
Property Management - ANSWER-Management of another's property for compensation
Brokerage - ANSWER-Bringing together parties interested in a real estate transaction
Realtor ® - ANSWER-Member of National Association of REALTORS, adhere to Code
of Ethics
Categories of Real Property - ANSWER-Residential, Commercial, Industrial,
Agricultural, Special-Purpose
Real Property - ANSWER-Interests, benefits, and rights associated with real estate
ownership
Demand - ANSWER-Amount of goods people are willing and able to buy
Salesperson - ANSWER-Performs real estate activities under supervision of licensed
real estate broker
Development - ANSWER-Construction of improvements on land, i.e., new homes, water
lines
Subdivision - ANSWER-Splitting a single property into smaller parcels
Market - ANSWER-Place where goods are bought and sold, price is established
Residential - ANSWER-All property used for single-family or multifamily housing,
whether urban, suburban, or rural areas
Home Inspection - ANSWER-Is the profession that allows practitioners to combine their
interests in real estate with their professional skills and training in the construction
trades and engineering
Counseling - ANSWER-Involves providing clients with competent independent advice
based on sound professional judgement
CHAPTER 1 QUESTIONS AND
ANSWERS 100% CORRECT
Property Management - ANSWER-Management of another's property for compensation
Brokerage - ANSWER-Bringing together parties interested in a real estate transaction
Realtor ® - ANSWER-Member of National Association of REALTORS, adhere to Code
of Ethics
Categories of Real Property - ANSWER-Residential, Commercial, Industrial,
Agricultural, Special-Purpose
Real Property - ANSWER-Interests, benefits, and rights associated with real estate
ownership
Demand - ANSWER-Amount of goods people are willing and able to buy
Salesperson - ANSWER-Performs real estate activities under supervision of licensed
real estate broker
Development - ANSWER-Construction of improvements on land, i.e., new homes, water
lines
Subdivision - ANSWER-Splitting a single property into smaller parcels
Market - ANSWER-Place where goods are bought and sold, price is established
Residential - ANSWER-All property used for single-family or multifamily housing,
whether urban, suburban, or rural areas
Home Inspection - ANSWER-Is the profession that allows practitioners to combine their
interests in real estate with their professional skills and training in the construction
trades and engineering
Counseling - ANSWER-Involves providing clients with competent independent advice
based on sound professional judgement
