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Including Real Estate Math
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Tips for Passing the Real Estate Exam!
Hello,
Congratulations on your decision to secure your
real estate license! Real estate
provides the opportunity to be in business for yourself and create the
success you desire. It
requires a commitment, education and hard work.
I've taught real estate classes since 1986 and since that time I've
helped thousands
of people pass their real estate test. There are many
factors involved
in passing the exam. These three are the most important.
Number 1 - Know your vocabulary words.
Number 2 - Read the test question three times before answering the
question.
Number 3 - Stay relaxed during the exam.
Real estate exam testing services have a database of real estate test questions.
Understanding the question formats is essential to passing the exam.
That's why the Real Estate Exam Strategy booklet is included with your
review materials.
These real estate questions and my finals are designed to be hard. As your real
estate exam coach, my goal is to have you learn from hard test
questions.
Write down vocabulary words in these questions that you do
not know and
learn them before you state final. These real estate exam questions are
different
than the
600 questions
in the Online Real Estate Exam Review package.
In closing I will ask you to respect the real estate test. Think about this.
Would you want
to go to a doctor who learned enough to pass the test and
then expected to
really learn what he needed to you in the "real world?"
Of course not!
So, do not listen to those who say, "Just learn what you need to know to
pass the test and then I'll teach you what you need to know in the real
world."
Respect the real estate exam! Learn everything you can learn about real
estate!
If real estate is your career and the means by which you are to create the
live you desire, then educate yourself! Start now by preparing in
every way you can to pass the sales associate license. Real Estate
Principles and Practice, and your state laws, are the foundation
of your success!
So, get your calculator, paper and pencil, and answer these free real
estate exam questions. If you decide you want additional review
materials, you are only a mouse click away from the most complete review
materials available anywhere!
1. All of the following are included
in the bundle of legal rights EXCEPT
A. right of control of the property.
B. right of enjoyment.
C. right of exclusion.
D. right of survivorship.
2. Emblements are
A. real property/fructus industriales.
B. real property/fructus naturales.
C. personal property/fructus industriales.
D. personal property/fructus naturales.
3. Nonhomogeneity describes a/an
A. physical characteristic of real estate and refers to
uniqueness
of the property.
B. physical characteristic of real estate and refers to
the indestructibility
of the property.
C. economic characteristic of real estate and refers to
the scarcity
of land in a given area.
D. economic characteristic of real estate and refers to
the permanence
of the investment.
4. A transaction broker is NOT known
as a/an
A. nonagent.
B. facilitator.
C. intermediary.
D. fiduciary.
5. A real estate licensee who has
listed a property is a/an
A. general agent of the broker and a special
agent to the seller.
B. general agent of the broker and a general
agent to the seller.
C. universal agent of the broker and a special
agent to the seller.
D. universal agent of the broker and a general
agent to the seller.
6. The total
commission paid a brokerage firm was $33,500. The firm was paid
7% on the first $200,000, 6% on the next $200,000 and
5% on the remainder.
What was the sales price of the property?
A.
$450,000
B. $550,000
C. $650,000
D. $750,000
7. Agent Carrie
received $937.50 as commission for a referral fee. The listing
agent paid 25% of her commission for the referral. The
total commission paid
was 6%, which was split equally between the listing and
selling brokerage
firms. If the listing agent was paid 50% of her firm’s
commission. What was
the sale price of the property?
A. $150,000
B. $250,000
C. $300,000
D. $350,000
8. Negligent misrepresentation occurs
when
A. there is intentional misrepresentation of a material fact
by a broker in order
to take financial advantage of
another.
B. the agent showing the property exaggerates the property's
benefits.
C. a broker should have known that a statement about a
material fact was
false.
D. the broker or agent tells the seller to intentional lie
about a property defect
so they can get a quick sale.
9. Buyers met an agent at an open
house. In order to buy the listed property,
the buyers needed to sell their house. The agent wrote
an offer to purchase
with the following terms. "Purchasers shall list
purchasers property at
567 Main Street, Your Town, Your State with XYZ Realty
within 24 hours of
the acceptance of this offer, or this offer shall become
null and void and the
earnest money shall be refunded to the purchaser." Is
this legal?
A. Yes, this is exactly what the agent should do to
secure the listing.
B. Yes, if state law allows it.
C. No, it is a violation of Regulation Z.
D. No, it is a violation of the Sherman Antitrust Act.
10. In most states which of the
following situations would MOST LIKELY be
grounds for suspension or revocation of a real
estate license?
A. Failure to specify a definite
termination date in a listing contract
B. Failure to find a buyer for a listed
property
C. Failure to determine the correct list
price in a comparative market
analysis
D. Failure to include a broker protection
clause in a listing agreement
11. A person died testate. After an
extensive search, no additional heirs
were found. The person's real property would transfer by
A. escheat to the state.
B. by descent and distribution.
C. by demise.
D. by devise.
12. Which of the following would be
future interests in a fee simple defeasible
estate?
A. Remainder/ Reversion
B. Reconveyance/ Redemption
C. Possibility of Reverter/ Right of
Re-Entry
D. Dower/Curtesy
13. Agnes, Zelma and Jayne are
sisters and own a property as joint tenants.
Jayne sold her share to Maggie. Upon closing,
Maggie is a
A. joint tenant with Agnes and Zelma.
B. tenant in common with Agnes and Zelma.
C. tenant by the entirety with Agnes and Zelma.
D. tenant at will with Agnes and Zelma.
14. If state law permits, the unities
of time, title, interest, possession and person
would created when
A. John, Peggy and George buy a cottage on
the lake.
B. Mr. and Mrs. Jones buy real
estate.
C. a corporation purchases investment
property.
D. Carrie buys her first house.
15. When Branham
brought his property he had a 20% down payment and
secured a 30 year loan at 7% interest. If
his first month’s interest was
$787.50, how much did he pay for the
property?
A. $135,000
B. $140,625
C. $168,750
D. $158,250
16. The S1/2 of the NE1/4
and the NW1/4 of the SE1/4 would contain
A. 2,344,560 square feet.
B. 3,484,800 square feet.
C. 4,395,340 square feet.
D. 5,277,200 square feet.
17. In 1969 Carmel purchased a condo for
$15,000. Today she sold
the property for $85,000 and agreed to finance
the loan for the buyer.
This transaction is known as a/an
A. conventional loan.
B. unconventional loan.
C. land contract.
D. blanket mortgage.
18. A lot that
measures 475' x 525' sold for $275,000. What was the cost per
front foot?
A. $523.80
B. $578.95
C. $592.35
D. $597.98
19. A lot that
measures 475' x 525' sold for $275,000. What was the cost per
acre?
A. $48,036
B. $48,238
C. $48,568
D. $48,976
20. The market value
of a property is $140,000. The owners pay $144.375 in
monthly property taxes, or $2.75 per $100.
What is the assessment rate?
A. 45 mills
B. 4.5%
C. 45%
D. .45%
21. Two brothers owned a property and
decided to list it with Agent Tejasi.
Thirty minutes before the listing appointment,
one of the brothers was
called out of town on an emergency. So, a friend
signed the listing contract
for him. Tejasi had no idea that the person
signing was not the owner.
The status of the contract is
A. void.
B. valid.
C. unenforceable.
D. voidable.
22. A habendum clause would be found in
a/an
A. mortgage.
B. note.
C. deed.
D. sales contract.
23. The borrowers
negotiated a $125,000 for 20 years at 7% interest.
Their monthly principal and interest
payment is $969.12. How much
interest will the buyers pay of the life of
the loan?
A. $107,588.80
B. $232,588.80
C. $175,000.80
D. $107,885.80
24. An agent received a thank you note from
a lender for the referral of a buyer.
The note included a $35 gift card to a local
restaurant. The law that makes
this kickback illegal is
A. Regulation Z
B. RESPA
C. CRA
D. ECOA
25. When you pass your exam you will
MOST LIKELY
A. celebrate!
B. send Joyce an email to share in
the celebration.
C. call your broker!
D. All of the above.
Go to
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33 Real Estate Exam Review Videos
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Over 600 Real Estate Exam
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guides)
Real
Estate
Exam
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booklet
Real
Estate
Math
Made
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Guide
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English
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