FBLA Real Estate Sample Questions

A local FBLA chapter decides to sell its clubhouse. Which factor would most influence the selling price?

• Number of years the club has owned the building

• Market conditions in the surrounding neighborhood

• Number of members in the club

• Previous ownership history

When a property increases in value due to a new public transit stop nearby, this is an example of:

• Depreciation

• Obsolescence

• Appreciation

• Capitalization

In the real estate industry, a 'fixture' refers to:

• Personal property not attached to the home

• Anything nailed down but easily removable

• An item permanently attached to the property

• Seasonal décor

Which of the following is considered personal property rather than real property?

• A built-in dishwasher

• A chandelier wired into the ceiling

• A freestanding refrigerator

• Wall-to-wall carpeting

What is the term for land and everything permanently attached to it?

• Personal property

• Real estate

• Tangible assets

• Realty fixtures

A buyer interested in a home near a school is using which principle of value?

• Substitution

• Anticipation

• Progression

• Conformity

If a homeowner paints their home bright pink in a neighborhood of neutral-colored homes, which principle might negatively affect their home’s value?

• Regression

• Contribution

• Supply and demand

• Increasing returns

Which professional would be most involved in analyzing demographic trends for property development?

• Appraiser

• Urban planner

• Loan officer

• Property inspector

A property owner builds an additional garage to attract buyers. This is an example of:

• Over-improvement

• Highest and best use

• Capital gain

• Equity growth

The right to occupy and use property is known as:

• Possession

• Title

• Equity

• Conveyance