YOU HAVE TO START OVER AGAIN UNTIL YOU GET THEM ALL RIGHT!
Shall we begin? :-)
GENERAL REAL ESTATE QUIZ
(Remember, you can find complete explanations by clicking on the “Explanations” link up top.)
1. A fiduciary owes a principal the responsibilities of:
(HINT: Remember, you’re looking for the best possible answer)
2. A rental of a condominium in Ocean City for the second week of August is:
3. Which of the following would be illegal under the Federal Fair Housing Act?
4. What type of loan does not amortize for the life of the loan?
D. Budget loan.
5. A land contract is:
6. Which is a unilateral contract?
A. Net listing.
7. The most important things about real estate are:
(You better have gotten that one.)
8. If the gross monthly income is $5000, the annual expenses are $16,000, and the capitalization rate is 12%, what would be the value indication using the income approach?
9. All of the following are essential to a contract except:
10. Bob, Carol, Ted and Alice are joint tenants on a property. Ted sells his share to Jane, and then Bob dies. After that, Alice sells her share to Flo, then Carol dies, and later on, Jane dies. After all this, Ted gets married to Flo. Which of the following is true?
11. All of the following are incorrect except:
12. Which of the following is not true about a deed?
13. Three friends buy a property together. The deed does not specify the form of ownership. Ownership would be held as:
14. Tom is a salesperson for YDQ Realty. He is working with a buyer under seller agency. The buyer wants to offer the full listing price of $200,000 on a house she is interested in, and asks Tom if he thinks it’s a good idea. Tom thinks the sellers would probably accept $190,000. Which of the following is true?
D. Both B & C.
15. Who is the Vice-President of the United States?
YOU MADE IT TO THE BOTTOM (of this quiz). Would you like to take another?
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ă2000, 2001 Douglas R. Barry