Proper fractions are always less than…?

¼ is equal to…?

If a lender charges an origination fee of 1 point on a $200,000 loan, how much will the origination fee be…?

What is the area of a triangle with a base dimension of 6’-0” and a height of 12’-0”…?

The top number in a written fraction is called the…?

The total commission on a sale is $5,000. The commission split between the seller and buyer broker is 50/50. How much will the buyer’s broker earn as a commission…?

If the sale price on a home was $250,000, and the broker commission was $15,000, what was the commission rate for the sale…?

In an improper fraction, the ……………. is smaller than the numerator?

All appraisals must contain which of the following…?

This principle affirms that the maximum value of a property tends to be set by the cost of acquiring an equally desirable and valuable substitute property…?

This principle holds that it is the future, not the past, which is of prime importance in estimating value…?

A tax assessor produces which of the following types of value…?

Which of the following appraisal methods will most likely be used to determine the value of a commercial building…?

Market value is equal to…?

When appraising a property using the sales comparison approach, which of the following factors is used to adjust comparable properties to the subject property…?

This appraisal method is typically used to determine the value of residential properties…?

An estimate of the value of property resulting from an analysis of facts about the property is known as a/an…?

The price paid regardless of pressures, motives or intelligence is referred to as the…?

What do lenders require from all borrowers prior to issuing a loan…?

A mortgage payment includes principal, interest, insurance, and…?

The relationship between the amount of a mortgage loan and the lender’s opinion of the value of property pledged to secure payment of the loan is known as the…?

If an owner obtained an $80,000 loan on a $100,000 property, what LTV was provided by the lender…?

Lenders base their LTV ratio on which of the following…?

In this type of mortgage, the scheduled payment will not amortize the loan over the mortgage term…?

Which of the following terms will have the largest monthly mortgage payment…?

The U.S Central bank is known as the…?

Once a bank make a loan to a borrower, the bank may sell that loan in which of the following markets…?

Which of the following purchases newly originated and seasoned agricultural loans from lenders…?

A permitted deviation from specific requirements of a zoning ordinance because of the special hardship to a property owner is known as a…?

If an owner is experiencing economic hardship due to the limitations on his property, a variance may be granted for which of the following…?

Radon most often enters a house through…?

An auto-repair shop that exists in a newly developed residential neighborhood is an example of a…?

A permitted deviation from specific requirements of a zoning ordinance because of the special hardship to a property owner is known as a…?

The use of lead-based paint in residential properties was banned in what year…?

Water damage, combined with improper ventilation can lead to which of the following…?

Lead can be found in which of the following…?

Zoning is an example of…?

A Property Report issued by sellers of a sub-division to prospective buyers includes which of the following…?

Which of the following imposes height restrictions on buildings…?

Which of the following is a primary goal of a property manager…?

A transaction in which the sale proceeds fall short of the balance owed on the property is known as a…?

Who becomes the owner of a property after it becomes an REO…?

Which of the following is used to determine the amount of equity in a distressed property…?

Real estate licensees who specialize in commercial real estate must be have an understanding of which of the following…?

A person who manages properties for an owner as the owner’s agent is referred to as a…?

Individuals primarily invest in real estate for cash flow and….?

Which of the following is an association of owners and managers, primarily in the office building market…?

A non-judicial foreclosure typically occurs when there is a…?

If a property owner is behind on their mortgage, their property may ultimately result in which of the following…?

An increase in value is known as…?

The use of a mortgage when buying an investment property is an example of…?

By using a high amount of leverage to purchase a property, the investor will experience a ……….. degree of risk?

The profit realized from the sale of real estate or other investments is known as…?

A method of depreciation under which improvements are depreciated at a constant rate throughout the estimated useful life of the improvement is known as...?

The amount of decrease in value of an asset that is allowed in computing the value of the property for tax purposes is known as…?

The use of debt financing of an investment to maximize the return per dollar of equity invested is known as…?

The use of a mortgage when buying an investment property is an example of…?

This is a section of the U.S. Internal Revenue Service Code that allows investors to defer capital gains taxes on any exchange of like-kind properties for business or investment purposes…?

A lessor is also known as a…?

A tenant is also referred to as a…?

A contract between an owner and tenant, setting forth conditions upon which the tenant may occupy and use the property and the term of the occupancy is referred to as a…?

Leases with a term of greater than ……... must be in writing to be enforceable?

If a tenant decides to rent out a second bedroom in their apartment to a new roommate, the roommate’s lease is considered a/an…?

An annual budget that includes only the items of income and expense expected for week-to-week operation is known as a…?

Which of the following is a common duty of a property manager…?

Who is primarily responsible for preparing the operating budget…?

Which of the following is included in the operating budget…?

If a toilet is leaking, what type of maintenance must be performed…?

The CAN-SPAM Act applies to solicitation involving…?

Which of the following is a type of maintenance performed by a property manager…?

A person, who by a written instrument, transfers to another the interest in land is referred to as the…?

All deeds must be in accordance with the…?

All deeds must include which of the following…?

A deed gets ……...... in the public record?

Which type of deed provides the greatest amount of protection…?

The final and absolute transfer of a deed from a seller to a buyer in such a manner that it cannot be recalled by the seller is known as…?

The seller in a transaction is also referred to as the…?

If the chain of title is incomplete, there is said to be a…?

Express or implied knowledge of a fact is considered…?

Which of the following occurs at the closing of a real estate transaction…?

The seller receives the funds for the purchase of their property at the…?

The boundary of a property and any improvements on the property is shown on the…?

The closing agent prepares a ……………………... to prove that all funds have been paid out correctly?

Items that are owed by the seller but ultimately paid by the buyer are known as…?

The signing and transfer of documents and distribution of funds occurs at the…?

The person in charge of conducting a real estate closing is referred to as a/an…?

After a purchase contract is signed by both parties, both the contract and the …………………. are delivered to the escrow agent…?

The division of certain settlement costs between a buyer and seller is known as…?

A seller needs to be reimbursed by the buyer for prepaid property taxes. The reimbursement will take the form of a ……………. for the seller on the Settlement Statement?