FREE Real Estate Sales MCQ Question and Answers
Which of the following amounts has been invested by a person who earns $225 per month from a money market savings account that yields 7 1⁄2% annually?
Explanation:
$225 x 12 = $2,700 per year
$2,700 divided by 7.5% = $36,000
The following are defined as "the relationship between a thing desired and a possible purchaser":
Explanation:
Value is related to the interaction between a wanted good and a possible buyer. Relationship, which denotes that value is not inherent in any particular object, is the key term here. Value is produced by and changes as this relationship does.
The following three real estate expressions are closely related. Which phrase is not a part of the group?
Explanation:
The remaining terms all apply to wills. These terms have nothing to do with the word sale.
The adage, "The value of the best property in a neighborhood will be adversely influenced by the existence of relatively poor property," refers to the notion of:
Explanation:
The question's formulation serves as an example of the regression principle.
Which of the following is an occupant of land?
Explanation:
The items on the list are all regarded as being a part of the land.
A real estate professional would be aware of the following associations between the names "Inwood and Hoskold":
Explanation:
Two men, Inwood and Hoskold, created unique tables for the appraisal of income properties. They concern value estimation.
Which of the following factors should be considered the least when evaluating a location for commercial use?
Explanation:
Amenities are aesthetically attractive elements on or in the property. In contrast to commercial properties, these factors don't have much of an impact on residential homes.
A man left a 2⁄3 and 1⁄3 interest in his estate, with the right of survivorship, to his favorite nephew William and his wife Helen. William and Helen would hold the following titles:
Explanation:
William and Helen cannot claim ownership as joint tenants or communal property because their interests are not equal. California Law only permits one other form because they are not partners in a corporation, which would be tenants in common. No right of survivorship would be allowed in this situation.
You and the owner have agreed to lease a store facility for ten years at a total rental cost of $12,000.00 payable at the rate of $100.00 per month. An advance payment of $200 must be made, which covers the first and last months' rent. It would not be acceptable to include a condition addressing which of the following in the terms of this lease, given the duration agreed upon?
Explanation:
An escalation provision would not be regarded as a part of the contract conditions because the lease specifies a fixed monthly rent sum.
When performing these calculations, an appraiser utilizing the cost technique may utilize the unit cost per square foot or cost per cubic foot. Considering unit costs:
Explanation:
When building a new house, there are typically a number of significant upfront fees. The additional expense is substantially lower when you increase the size of the home. Think about it: A little home would cost much more per square foot than a huge one.
The interest held by the sublessor in real property when subleased is frequently referred to as:
Explanation:
In this agreement, there are three parties. the property's owner, also known as the landlord, the tenant who occupies the space, and the sublessor, who stands between the two. The sandwich lease describes such a situation.