PERRY REAL ESTATE COLLEGE FINAL EXAM ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS

PERRY REAL ESTATE COLLEGE FINAL EXAM ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS A house with outmoded plumbing is suffering from -curable physical deterioration -external depreciation -incurable physical deterioration -functional obsolescence - Answer -functional obsolescence In order to be a License member of the commission, a person must be -a KY citizen -a non-felon -all of the above -a licensed broker - Answer -all of the above A licensed real estate professional acting as a point of contact between two or more people in negotiating the sale, rental, or purchase of a property is known as a(n)-sales affiliate -property manager -appraiser -broker - Answer -broker A landowner constructed a building 7 stories high. Several years later the municipality changed the zoning ordinance, prohibiting buildings that exceed 6 stories in height. Which of the following is true regarding the existing 7-story building? -the owner must obtain a variance -it is nonconforming use -it is a conditional use -the building must be demolished - Answer -it is a nonconforming use All of the following should be a consideration in selecting a tenant for the property EXCEPT -size of the available space relative to the tenant's requirements -compatibility of the tenant's business with those of other tenants -tenant's ability to make the rental payments -Ethnic background of the tenant and