,GOLD COAST SCHOOL REAL ESTATE x x x x
x CH.1-19 x
1. The real estate market is local in nature what does that mean? - ANSWER ☑☑Information about real
x x x x x x x x x x x x x x x x x x
x estate can best be found through local sources, which makes the real estate market local in nature
x x x x x x x x x x x x x x x x
2. You would expect a real estate licensee to perform all of the following activities, EXCEPT:
x x x x x x x x x x x x x x x x
A. Providing expert knowledge about construction methods and materials
x x x x x x x x
B. Providing expert knowledge to members of the public in the performance of specified services of real
x x x x x x x x x x x x x x x x
x estate x
C. Following up with customers and clients after a transaction has been completed
x x x x x x x x x x x x x
D. Acting as an intermediary, or agent, between two or more people in the negotiation of the sale,
x x x x x x x x x x x x x x x x x
x purchase, or lease of real estate - ANSWER ☑☑A. Providing expert knowledge about construction
x x x x x x x x x x x x x x
x methods and materials x x
3. A real estate licensee is expected to have expert knowledge in what three areas?
x x x x x x x x x x x x x x
,A. Valuation, marketing, and property transfer
x x x x x
B. Mortgages, property taxes, and homeowners' insurance policies
x x x x x x x
C. Residential real estate, commercial real estate, and surveys
x x x x x x x x x
D. Area schools, local crime rates, and proximity to potential employers - ANSWER ☑☑A. Valuation,
x x x x x x x x x x x x x x x
x marketing, and property transfer x x x
4. What is a comparative market analysis?
x x x x x x
A. A comparison of assessed values in the same neighborhood
x x x x x x x x x
B. A value estimate based on recent sales of identical properties in the same neighborhood
x x x x x x x x x x x x x x
C. A value estimate based in recent sales of similar properties in the same neighborhood
x x x x x x x x x x x x x x x
D. An appraisal of the value of a property - ANSWER ☑☑C. A value estimate based in recent sales of
x x x x x x x x x x x x x x x x x x x x
x similar properties in the same neighborhood
x x x x x
5. Which type of valuation must be performed in accordance with the Uniform Standards of
x x x x x x x x x x x x x x
x Professional Appraisal Practice (USPAP) x x x
A. Appraisal in a federally-related transaction
x x x x x
B. Broker price opinion (BPO)
x x x x
C. Comparative market analysis (CMA)
x x x x
D. None of the above - ANSWER ☑☑A. Appraisal in a federally-related transaction
x x x x x x x x x x x x x
, 6. Many real estate licensees engage in "farming". Which of the following best describes what that
x x x x x x x x x x x x x x x
x means?
A. They conduct open houses on weekends
x x x x x x x
B. They use marketing vehicles such as direct mailing and advertisements in real estate magazines
x x x x x x x x x x x x x x
C. They concentrate on the sale of agricultural properties
x x x x x x x x
D. They concentrate on one type of property or in a particular neighborhood - ANSWER ☑☑D. They
x x x x x x x x x x x x x x x x x
x concentrate on one type of property or in a particular neighborhood
x x x x x x x x x x
All of the following would be considered commercial property, EXCEPT
x x x x x x x x x
A. an office building that accommodates three tenants
x x x x x x x
B. A high-rise apartment building in the downtown area of the city
x x x x x x x x x x x
C. A shopping center that adjoins a residential neighborhood
x x x x x x x x
D. A large house that has been subdivided into four apartments - ANSWER ☑☑D. A large house that
x x x x x x x x x x x x x x x x x x
x has been subdivided into four apartments
x x x x x
If the sale of a business involves the transfer of ownership of shares of stock, what additional
x x x x x x x x x x x x x x x x
x requirement is imposed? x x
A. The real estate licensee must be associated with a brokerage firm
x x x x x x x x x x x
x CH.1-19 x
1. The real estate market is local in nature what does that mean? - ANSWER ☑☑Information about real
x x x x x x x x x x x x x x x x x x
x estate can best be found through local sources, which makes the real estate market local in nature
x x x x x x x x x x x x x x x x
2. You would expect a real estate licensee to perform all of the following activities, EXCEPT:
x x x x x x x x x x x x x x x x
A. Providing expert knowledge about construction methods and materials
x x x x x x x x
B. Providing expert knowledge to members of the public in the performance of specified services of real
x x x x x x x x x x x x x x x x
x estate x
C. Following up with customers and clients after a transaction has been completed
x x x x x x x x x x x x x
D. Acting as an intermediary, or agent, between two or more people in the negotiation of the sale,
x x x x x x x x x x x x x x x x x
x purchase, or lease of real estate - ANSWER ☑☑A. Providing expert knowledge about construction
x x x x x x x x x x x x x x
x methods and materials x x
3. A real estate licensee is expected to have expert knowledge in what three areas?
x x x x x x x x x x x x x x
,A. Valuation, marketing, and property transfer
x x x x x
B. Mortgages, property taxes, and homeowners' insurance policies
x x x x x x x
C. Residential real estate, commercial real estate, and surveys
x x x x x x x x x
D. Area schools, local crime rates, and proximity to potential employers - ANSWER ☑☑A. Valuation,
x x x x x x x x x x x x x x x
x marketing, and property transfer x x x
4. What is a comparative market analysis?
x x x x x x
A. A comparison of assessed values in the same neighborhood
x x x x x x x x x
B. A value estimate based on recent sales of identical properties in the same neighborhood
x x x x x x x x x x x x x x
C. A value estimate based in recent sales of similar properties in the same neighborhood
x x x x x x x x x x x x x x x
D. An appraisal of the value of a property - ANSWER ☑☑C. A value estimate based in recent sales of
x x x x x x x x x x x x x x x x x x x x
x similar properties in the same neighborhood
x x x x x
5. Which type of valuation must be performed in accordance with the Uniform Standards of
x x x x x x x x x x x x x x
x Professional Appraisal Practice (USPAP) x x x
A. Appraisal in a federally-related transaction
x x x x x
B. Broker price opinion (BPO)
x x x x
C. Comparative market analysis (CMA)
x x x x
D. None of the above - ANSWER ☑☑A. Appraisal in a federally-related transaction
x x x x x x x x x x x x x
, 6. Many real estate licensees engage in "farming". Which of the following best describes what that
x x x x x x x x x x x x x x x
x means?
A. They conduct open houses on weekends
x x x x x x x
B. They use marketing vehicles such as direct mailing and advertisements in real estate magazines
x x x x x x x x x x x x x x
C. They concentrate on the sale of agricultural properties
x x x x x x x x
D. They concentrate on one type of property or in a particular neighborhood - ANSWER ☑☑D. They
x x x x x x x x x x x x x x x x x
x concentrate on one type of property or in a particular neighborhood
x x x x x x x x x x
All of the following would be considered commercial property, EXCEPT
x x x x x x x x x
A. an office building that accommodates three tenants
x x x x x x x
B. A high-rise apartment building in the downtown area of the city
x x x x x x x x x x x
C. A shopping center that adjoins a residential neighborhood
x x x x x x x x
D. A large house that has been subdivided into four apartments - ANSWER ☑☑D. A large house that
x x x x x x x x x x x x x x x x x x
x has been subdivided into four apartments
x x x x x
If the sale of a business involves the transfer of ownership of shares of stock, what additional
x x x x x x x x x x x x x x x x
x requirement is imposed? x x
A. The real estate licensee must be associated with a brokerage firm
x x x x x x x x x x x
