Real Estate Quiz

Property management, appraisal, financing, and development are all examples of a. separate professions within the real estate industry.

• separate professions within the real estate industry

• related to agriculture

• part of the IT industry

• not related to real estate

Property management, appraisal, financing, and development are all a. separate professions within the real estate industry.

• separate professions within the real estate industry

• related to agriculture

• part of the IT industry

• not related to real estate

A real estate professional who has several years of experience in the industry decided to retire from actively marketing properties. Now this person helps clients choose among the various alternatives involved in purchasing, using, or investing in property. What is this person's profession? a. Real estate counselor

• Real estate counselor

• Real estate broker

• Real estate developer

• Real estate appraiser

When demand for a commodity decreases and supply remains the same, a. price tends to fall.

• price tends to fall

• price tends to rise

• remains stable

• increase

Industrial real estate includes a. warehouses, factories, land in industrial districts, and power plants.

• warehouses, factories, land in industrial districts, and power plants

• shopping malls, restaurants, movie theaters, and hotels

• residential apartments and condominiums

• parks, playgrounds, and recreational facilities

All of the following affect how quickly the forces of supply and demand work EXCEPT a. degree of standardization of the property's price.

• degree of standardization of the property's price

• market competition

• government regulations

• consumer income

When supply and demand for a good or service are roughly balanced, the price of the good or service a. remains stable.

• remains stable

• increases

• decreases

• fluctuates

If demand remains steady when the supply of a commodity decreases, the price will a. Increase

• Increase

• Decrease

• Remain the same

• Fluctuate

Which factor primarily affects supply in the real estate market? a. Governmental monetary policy

• Governmental monetary policy

• Consumer preferences

• Technological advancements

• Global economic conditions

All of the following are categories of the uses of real property EXCEPT a. developmental.

• residential

• commercial

• agricultural

• developmental