Quiz-summary
0 of 10 questions completed
Questions:
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
Information
Practice Questions
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading...
You must sign in or sign up to start the quiz.
You have to finish following quiz, to start this quiz:
Results
0 of 10 questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 points, (0)
Categories
- Not categorized 0%
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- Answered
- Review
-
Question 1 of 10
1. Question
Seller A needs to get the broadest publicity for her house to be sold, but if she sells the house herself, she does not want to pay a fee. What sort of listing should she try?
Correct
Listing of pockets and doing several listings are not forms of listings, and even though she sells the house herself, she will pay under the special permit and right-to-sell listing agreement.
Incorrect
Listing of pockets and doing several listings are not forms of listings, and even though she sells the house herself, she will pay under the special permit and right-to-sell listing agreement.
-
Question 2 of 10
2. Question
Broker A has a listing to market the house of Seller B. He already has an agency arrangement with the buyer to find a home for Buyer C. If Buyer C becomes interested in the house of Seller B, what might be the danger to Broker A, if any?
Correct
This can be taken care of by ensuring both the buyer and the seller’s permission to act as a dual agent.
Incorrect
This can be taken care of by ensuring both the buyer and the seller’s permission to act as a dual agent.
-
Question 3 of 10
3. Question
All agency contracts for the sale of the property must be in writing, with the exception of the establishment of an agency’s what?
Correct
This is a confusing problem since all of these types of agencies must be in writing, even though they are written in writing, the agreement always comes after the truth.
Incorrect
This is a confusing problem since all of these types of agencies must be in writing, even though they are written in writing, the agreement always comes after the truth.
-
Question 4 of 10
4. Question
Broker A agrees to keep descriptions of the property of Seller B in his files in writing but has stated that he will not actively market it. If he finds a buyer, Seller B offers to pay Broker A a fee. This arrangement can be best summarized as?
Correct
The words have been stated explicitly, so it is clear. Only one party, the seller, has agreed to act only if a buyer is identified by the broker, so it is one-sided.
Incorrect
The words have been stated explicitly, so it is clear. Only one party, the seller, has agreed to act only if a buyer is identified by the broker, so it is one-sided.
-
Question 5 of 10
5. Question
Which of the following statements is the correct description of what will happen next when an uncashed deposit check is kept and not deposited by the broker?
Correct
When the bid is accepted, the three-day clock for depositing the check commences.
Incorrect
When the bid is accepted, the three-day clock for depositing the check commences.
-
Question 6 of 10
6. Question
The most profitable single use for a piece of property that will produce the highest value is called?
Correct
The biggest and safest use is that the property can be put to use, resulting in the highest value.
Incorrect
The biggest and safest use is that the property can be put to use, resulting in the highest value.
-
Question 7 of 10
7. Question
Which of the following statements about value’s characteristic is false?
Correct
Change is a value theory, not a valued trait. The ability of transfer and utility are both characteristics of value while scarcity is the fourth attribute of value.
Incorrect
Change is a value theory, not a valued trait. The ability of transfer and utility are both characteristics of value while scarcity is the fourth attribute of value.
-
Question 8 of 10
8. Question
Two lots, each priced at $50,000, have a value of $125,000 when added together. Which term describes this added value best?
Correct
When combined, two or more properties can benefit from the increase in scale, which allows for more varied uses. This value boost is called plotting.
Incorrect
When combined, two or more properties can benefit from the increase in scale, which allows for more varied uses. This value boost is called plotting.
-
Question 9 of 10
9. Question
What is the method by which discrepancies are accounted for in the comparison of a subject property and a comparable property is called the assessment of a property?
Correct
The process of accounting for variations between properties is the adjustment of comparables to the subject. Reconciliation occurs near the end of the assessment process. A concept correlated with tax assessment is equalization. Value evaluation is the concept of valuation.
Incorrect
The process of accounting for variations between properties is the adjustment of comparables to the subject. Reconciliation occurs near the end of the assessment process. A concept correlated with tax assessment is equalization. Value evaluation is the concept of valuation.
-
Question 10 of 10
10. Question
Which of the following statements is a functional obsolescence example?
Correct
Functional obsolescence refers to design defects or design elements that are outmoded. It’s an external obsolescence at the gas station.
Physical decay is painting. It is possibly a good factor to be near but not next to the train station.Incorrect
Functional obsolescence refers to design defects or design elements that are outmoded. It’s an external obsolescence at the gas station.
Physical decay is painting. It is possibly a good factor to be near but not next to the train station.