1
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Principles of Real Estate 1 Final Exam
Questions and Answers (100% Correct
Answers) Already Graded A+
If a real estate salesperson closes on a transaction, who pays the
salesperson their commission? —ANS: The salesperson's sponsoring
broker
A means of comparing similar type properties, which have
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recently sold, to the subject property is known as the? —ANS:
Market Comparison Approach
The market comparison approach is commonly used for this
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property type? —ANS: Residential
The amount of goods offered for sale within a given market at a
given price during a given time period is known as? —ANS: Supply
A real estate agent is an example of what type of agent? —ANS:
Special agent
A refrigerator is typically considered? —ANS: Personal Property
Mobile homes not permanently attached to the land are
generally considered? —ANS: Personal Property
Which of the following is considered a legal test for determining if
an item is a fixture or not? —ANS: Mode and permanence of how
the item was attached
Adaptation of the item
Intention of the parties
All of the above
The right of exclusion, which allows a landowner to prevent others
from entering or occupying their property, is included in the? —
ANS: Bundle of rights
, 2
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Which of the following is an example of a fixture? —ANS: Kitchen
cabinets
Which of the following is an advantage to owning a home? —
ANS: Potential for asset appreciation
Tax benefits
Pride of ownership
All of the above
An individual who has not owned real property for at least the
previous two years is known as a? —ANS: First-time homebuyer
Which of the following is NOT a form of real property? —ANS:
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Cooperative
A form of ownership of real property recognized in all states that
consists of individual ownership of some aspects and co-
ownership in other aspects of the property is known as a? —ANS:
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Condominium
A mortgage payment typically includes? —ANS: Interest
Principal
Insurance
Real estate brokers have a ...... relationship with the principal? —
ANS: Fiduciary
The 'L' in the acronym C.O.A.L.D. stands for which fiduciary duty?
—ANS: Loyalty
When a real estate broker represents a buyer in a transaction, the
broker and buyer are bound by which of the following contracts?
—ANS: buyer representation agreement
An agency relationship created by oral or written agreement
between the principal and the agent is known as? —ANS: Express
agency
The Deceptive Trade Practices Act discourages agent from which
of the following acts? —ANS: Puffing- usually a exaggeration
For Expert help and assignment solutions, +254707240657
Principles of Real Estate 1 Final Exam
Questions and Answers (100% Correct
Answers) Already Graded A+
If a real estate salesperson closes on a transaction, who pays the
salesperson their commission? —ANS: The salesperson's sponsoring
broker
A means of comparing similar type properties, which have
© 2025 Assignment Expert
recently sold, to the subject property is known as the? —ANS:
Market Comparison Approach
The market comparison approach is commonly used for this
Guru01 - Stuvia
property type? —ANS: Residential
The amount of goods offered for sale within a given market at a
given price during a given time period is known as? —ANS: Supply
A real estate agent is an example of what type of agent? —ANS:
Special agent
A refrigerator is typically considered? —ANS: Personal Property
Mobile homes not permanently attached to the land are
generally considered? —ANS: Personal Property
Which of the following is considered a legal test for determining if
an item is a fixture or not? —ANS: Mode and permanence of how
the item was attached
Adaptation of the item
Intention of the parties
All of the above
The right of exclusion, which allows a landowner to prevent others
from entering or occupying their property, is included in the? —
ANS: Bundle of rights
, 2
For Expert help and assignment solutions, +254707240657
Which of the following is an example of a fixture? —ANS: Kitchen
cabinets
Which of the following is an advantage to owning a home? —
ANS: Potential for asset appreciation
Tax benefits
Pride of ownership
All of the above
An individual who has not owned real property for at least the
previous two years is known as a? —ANS: First-time homebuyer
Which of the following is NOT a form of real property? —ANS:
© 2025 Assignment Expert
Cooperative
A form of ownership of real property recognized in all states that
consists of individual ownership of some aspects and co-
ownership in other aspects of the property is known as a? —ANS:
Guru01 - Stuvia
Condominium
A mortgage payment typically includes? —ANS: Interest
Principal
Insurance
Real estate brokers have a ...... relationship with the principal? —
ANS: Fiduciary
The 'L' in the acronym C.O.A.L.D. stands for which fiduciary duty?
—ANS: Loyalty
When a real estate broker represents a buyer in a transaction, the
broker and buyer are bound by which of the following contracts?
—ANS: buyer representation agreement
An agency relationship created by oral or written agreement
between the principal and the agent is known as? —ANS: Express
agency
The Deceptive Trade Practices Act discourages agent from which
of the following acts? —ANS: Puffing- usually a exaggeration
