Chapter 1. Basic real estate concepts

Chapter 1. Basic real estate concepts

University

12 Qs

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Chapter 1. Basic real estate concepts

Chapter 1. Basic real estate concepts

Assessment

Quiz

Business

University

Practice Problem

Easy

Created by

Mckenzie Glover

Used 1+ times

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12 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All of the following factors would affect supply, EXCEPT:

construction costs

population

government controls

the labor force

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All of the following are required of a candidate to obtain a NC real estate brokers license, EXCEPT:

minimum age of 18

high school diploma

good character

formal background check

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How are member of the NC real estate commission chosen?

they are elected by the public at large

they are appointed by the governor

seven are appointed by the governor and 2 are appointed by the legislature

four are appointed by the legislature and 3 are appointed by the governor

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

It is the job of the NC real estate commission to perform all of the following, EXCEPT:

fine licensees who violate the rules or statutes

provide information to licensees and the public

regulate and educate licensees

protect the public and consumers

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

All of the following are economic characteristics of real property, EXCEPT:

scarcity

immobility

location

permanence

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The NC real estate commission has the authority to:

regulate the commissions and fees charged by licensees

discipline a REALTOR for breach of the code of ethics

fine a licensee for violations of license law

require licensees to obtain education

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is considered to have he greatest impact on the value of a property?

area preference

permanence of investment

scarcity

uniqueness

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