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Embed code for: Real Estate Quiz 1
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1 of 19 - The act of appraisal can be completed by
anyone who hangs out a sign.
anyone who calls himself an appraiser.
anyone with a real estate license.
an appraiser following the USPAP standards.
2 of 19 - The practice of a real estate sales associate specializing in a certain geographic area is called
3 of 19 - A home that is specially built for a buyer, using his/her blueprints is called
a custom home.
a tract home.
a spec home.
an original home.
4 of 19 - It is unethical for an appraiser to accept compensation for performing an assignment when it is contingent upon
the appraiser having a real estate license.
the requirement for a certain type of loan.
the reporting of a pre-determined result.
when the appraiser is asked for more comparables by the underwriter.
5 of 19 - Which statement is TRUE?
The real estate industry makes up about 25% of the nation's economy.
Real estate affects only real estate professionals, buyers, and sellers.
Real estate only has one direction: buying and selling.
The real estate industry is not regulated.
6 of 19 - The duties of a property manager include all EXCEPT
selling the property.
advertising the property.
maintaining the property in good repair.
budgeting expenses for the property.
7 of 19 - Which is the most important issue for a broker acting as a property manager to accomplish?
To make sure the building is 100% occupied
To keep the tenants happy and satisfied
To budget and keep cost down
To get maximum income in while preserving the value of the investment
8 of 19 - Which would NOT usually be involved in financing real estate?
A mortgage banker
A mortgage broker
A savings and loan
A real estate broker
9 of 19 - Agriculture property in Florida is property that
has many buildings on it.
has fewer than 10 acres.
has fewer than 5 acres.
has more than 10 acres.
10 of 19 - In Florida there is a demand for property management services due to the large amount of
residents who own condominiums.
11 of 19 - Services that a property manager must perform for the owner are listed in
a sales contract.
a listing contract.
a uniform management code.
a property management agreement.
12 of 19 - One example of a Loan Originator would be a(n)
mortgage associate broker.
seller who finances more than one home in a two year period.
13 of 19 - Dedication most nearly means
concern for others.
public health issues.
giving private land for public use.
donating a hospital to a private charity.
14 of 19 - Why does a real estate professional need a license?
He has specific information to be able to show a house.
He has specific information to lease a house.
He has expert information on real estate that an average layperson does not have.
He does not need a license; he can sell and list whenever he wants.
15 of 19 - Local communities regulate real estate by
buying and selling land themselves.
creating zoning laws.
annexing nearby towns.
16 of 19 - The Florida Real Estate Appraisal Board (FREAB) is headquartered in Orlando and consists of
17 of 19 - Which is NOT commonly an area of federal government interference in real property?
Federal Fair Housing Act
18 of 19 - Putting together two or more parcels of land to make a large piece is called
19 of 19 - Having a membership in The National Association of REALTORS ® (NAR), Florida Association of REALTORS ® (FAR), and the local Board (association) of REALTORS ®
is required in order to hold a Florida Real Estate license.
is required in order to hold a Florida Appraiser's license.
has nothing to do with obtaining or maintaining a real estate license.
is required for anyone wanting to buy or sell real estate.