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Principles of Real Estate 1 Final Exam Questions and Answers
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Principles of Real Estate 1 Final Exam 
Questions and Answers 
If a real estate salesperson closes on a transaction, who pays the salesperson their 
commission? - Answer- The salesperson's sponsoring broker 
A means of comparing similar type properties, which have recently sold, to the subject 
property is known as the? - Answer- Market Comparison Approach 
The market comparison approach is commonly used for this property type? - Answer- 
Residential 
The amount of goods offered for sale within...
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REAL ESTATE 2024 QUESTIONS AND ANSWERS
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REAL ESTATE 2024 QUESTIONS AND ANSWERS 
Real Estate Broker - Answer- a person who is licensed as a broker that peforms 
brokerage activities and collects compensation. 
Real Estate Salesperson - Answer- a person who peforms real estate activities while 
associated with a licensed real estate broker. 
licensee - Answer- a person holding a valid real estate license 
appraiser - Answer- a person whos certified to estimate the value of a real property 
according to standardized principles of valuati...
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Illinois Real Estate Practice Exam Questions and Answers
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Illinois Real Estate Practice Exam 
Questions and Answers 
Objectives of Federal Reserve System - Answer- To counteract inflationary and 
deflationary trends, to create a favorable economic climate, to maintain sound credit 
conditions but NOT to control the secondary mortgage market 
Remainder Interest - Answer- A fee simple holder of a parcel of real estate grants a life 
estate to her daughter and stipulates that upon the daughters death, the property will 
pass to her grandson. The second es...
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NATIONAL REAL ESTATE EXAM PRACTICE TEST 100% SOLVED 2024
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NATIONAL REAL ESTATE EXAM PRACTICE 
TEST 100% SOLVED 2024 
In most cases, broker compensation, as a percentage of home price, falls somewhere 
between: - Answer- 5-7% 
A Christian organization owns a fourplex. It wants to rent to only Christian tenants. 
Under the federal Fair Housing Act, is this legal? - Answer- Yes. Religious organizations 
which rent to tenants for residential purposes are exempt from the Fair Housing Act 
What happens to trade fixtures after a business moves out of a leased...
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Real Estate Principles Final Exam 2024 Questions and Answers
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Real Estate Principles Final Exam 2024 
Questions and Answers 
Anything that is fastened or attached to real property permanently is considered to be: - 
Answer- Real Property 
A quitclaim deed releases all present claims, rights and title of the: - Answer- Grantor 
When a creditor wants to satisfy a judgement which was levied against another person, 
the creditor would: - Answer- Obtain a writ of execution 
Before a mechanics lien is effective it must be: - Answer- Verified and recorded 
Discri...
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NYS Real Estate Practice Exam Questions and Answers
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NYS Real Estate Practice Exam 
Questions and Answers 
What agency issues real estate licenses? - Answer- The New York State Department of 
State (NYDOS), Divison of Licensing Services 
At what age can you become a real estate salesperson? - Answer- 18 
Do you need experience in the field to become a sales person? - Answer- No 
What is the minimum age to become a real estate broker? - Answer- 20 
If your license is revoked, how long do you have to wait to re-apply for it? - Answer- One 
year 
Do ...
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REAL ESTATE TERMINOLOGY EXAM QUESTIONS AND ANSWERS
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REAL ESTATE TERMINOLOGY EXAM 
QUESTIONS AND ANSWERS 
A summary of digest of the conveyance, transfer and any othe facts elide on as 
evidence of title, together with any other elements of record which may impair the title - 
Answer- ABSTRACT OF TITLE 
A clause in a trust deed or mortgage giving the lender the right to call all sums owing 
him to be immediately due andpayable upon the happening of a certain event - Answer- 
ACCELERATION CLAUSE 
The right of the owner to everything produced, incor...
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Real Estate Principles Final Exam Quiz Rated A+
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Real Estate Principles Final Exam 
 
Anything that is fastened or attached to real property permanently is considered to be: - Answer- Real Property 
 
A quitclaim deed releases all present claims, rights and title of the: - Answer- Grantor 
 
When a creditor wants to satisfy a judgement which was levied against another person, the creditor would: - Answer- Obtain a writ of execution 
 
Before a mechanics lien is effective it must be: - Answer- Verified and recorded 
 
Discrimination by ...
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REAL ESTATE PRINCIPLES MIDTERM AND FINAL EXAM 250+ (GRADED A+) QUESTONS AND ANSWERS BY EXPERT
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REAL ESTATE PRINCIPLES MIDTERM AND FINAL EXAM 250+ (GRADED A+) QUESTONS AND ANSWERS BY EXPERT
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REAL ESTATE PRINCIPLES MIDTERM AND FINAL EXAM 250+ (GRADED A+) QUESTONS AND ANSWERS BY EXPERT
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REAL ESTATE PRINCIPLES MIDTERM AND FINAL EXAM 250+ (GRADED A+) QUESTONS AND ANSWERS BY EXPERT
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