Real Estate

- Salesperson Pre-Licensing Course 40 Hour Final Exam

1.

A veteran buying a home from a for sale by owner and

financing it with a VA loan can do all of the following

except:

A. Immediately rent the home after closing to make

the monthly payments

B. Obtain 100% financing

C. Obtain a VA loan from participating lender.

D. Expect the owner to bring the house up to VA

code

D. 14,222

8. The following is an example of functional obsolescence?

A. High crime rate in the neighborhood.

B. Noise from an adjacent airport.

C. Outdated plumbing.

D. High unemployment rate in the city.

9. An agent’s exaggerated opinion of property features is

known as:

A. Blockbusting

B. An expression of freedom of speech

C. Merely an opinion

D. Puffing

2. After Charlie’s death, his will indicated that all of his real

property must go to charity. What can Charlie’s wife do?

A. Nothing

B. Force the inheritance of all the property because

the wife is usually the dominant recipient of the

husband’s estate

C. Claim her dower rights

D. Sue the estate

10. After purchasing a home, the Johnson’s purchased a

dishwasher and installed it into the kitchen cabinets. This item

has now become:

A. Fixed chattel

B. A fixture

C. Home appliance

D. A bargaining chip when the home is offered for

sale.

3. Two brokers decided to co-broke 60/40 in favor of the

listing broker, and each broker splits 50-50 with his

salesperson. How much will the listing salesperson make if a

house is sold for $134,500 and the commission rate is 6%?

A. 8,070

B. 4,035

C. 4,842

D. 2,421

11. David and Susan purchased real estate as tenants in

common. All of the following is true regarding their ownership

except:

A. They may or may not own equal shares.

B. Either one could sell his/her share without

approval of the other.

C. When David dies, his share belongs to Susan

automatically and without probate court.

D. David and Susan may possess the property

equally regardless of their...