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Real Estate Principles Unit 14 multiple choice 1

Total questions: 26

Worksheet time: 13mins

Name
Class
Date
1.

A factory built home manufactured prior to June 15th, 1976 constructed on a chassis and wheels

a)

Mobilehome

b)

Pre-fabricated home

c)

Modular home

d)

Mobile estate

2.

Home built in a factory after June 15, 1976 that conforms to Federal Manufactured Home Construction and Safety Standards

a)

Mobilehome

b)

Manufactured home

c)

Modular home

d)

Pre-fabricated home

3.

Certification signed by the county, tax collector in mobilehomes sales

a)

Commissioners certificate

b)

Tax credit certificate

c)

Clearance of tax liability

d)

Mobile estate tax assessments certificate

4.

Any type of business that is for lease or sale

a)

Business opportunity

b)

Due diligence

c)

Listing

d)

Turn-key operation

5.

The expectation of the continued patronage of an existing business

a)

Good faith

b)

High growth potential

c)

Anticipated competitive advantage

d)

Goodwill

6.

Code regulating security interests in personal property of businesses

a)

Uniform Commercial Code

b)

Real Estate Stabilization Act

c)

Real estate Security and Interest Mandate

d)

Real Estate Investments Security Act

7.

The sale of a substantial part of the inventory of a business

a)

Liquidation

b)

Downscale

c)

Bulk sales

d)

Downsize

8.

The document commonly used to secure a loan on personal property

a)

Loan approval certificate

b)

Note of conveyance

c)

Credit authorization

d)

Security agreement

9.

The document used to record the debt; it is not actual evidence of the debt

a)

Financing statement

b)

Promissory note

c)

Financing receipt

d)

Lien Documentation

10.

Tax collected as a percentage of the retail sales sales of a product, by a retailer

a)

State tax

b)

Sales tax

c)

Retail tax

d)

Federal tax

11.

Permit used to collect sales tax from customers

a)

Sellers permit

b)

Purveyor permit

c)

Commerce permit

d)

FDIC contract

12.

Real property appreciation keeps pace or exceeds inflation rates

a)

Capital appreciation

b)

Hedge against inflation

c)

Value–add investment

d)

Compounded annual growth rate (CAGR)

13.

Properties that are ready for occupancy

a)

Ready to close

b)

Turn-key project

c)

Available for immediate occupancy

d)

Move-in ready

14.

The increase in value of a mortgage property, generally accrues to the benefit of the trustor

a)

Accrued interest

b)

Appreciation interest

c)

Accrued credit

d)

Unearned increment

15.

The gradual increase of a borrowers equity in a property caused by amortization of loan principal

a)

Equity buildup

b)

Loan interest credit

c)

Accrued interest

d)

Equity credit

16.

The use of borrowed capital to buy real estate

a)

Advanced capital

b)

Loan

c)

Leverage

d)

Bridge

17.

Tax advantage of ownership of income property

a)

Equity build-up

b)

Hedge against inflation

c)

Clearance of tax liability

d)

Depreciation

18.

Depreciation method, where the same amount is deducted every year over the depreciable life of a property

a)

Straight-line method

b)

Annual devaluation

c)

Life estate projection

d)

Value variance graph

19.

Sale in which payments are made by the buyer to the seller over a period of more than one year

a)

Payment installation agreement

b)

Term sale

c)

Installment sale

d)

Deferred payment sale

20.

Tax-deferred exchange used to defer tax liability

a)

1031 Exchange

b)

Deference transaction

c)

Tax liability exchange rate

d)

Tax liability transfer

21.

Extra cash or non like-kind property put into an exchange

a)

Purse

b)

Currency injection

c)

Boot

d)

Funding contribution

22.

A court-approved sale of the property of a person who is deceased

a)

Estate sale

b)

Estate dispersal

c)

Estate auction

d)

Probate sale

23.

Building larger more extravagant homes in older neighborhood with small to medium size homes

a)

Gentrification

b)

Mansionization

c)

Infiltration of affluence

d)

Demographic shift

24.

The development of vacant parcels in existing urban and suburban areas

a)

Greyfield development

b)

Infill development

c)

Compact development

d)

Mixed-use development

25.

An abandoned commercial or industrial site or under-utilized neighborhood, where redevelopment is complicated by actual, or perceived contamination

a)

Previously developed land (PDL)

b)

Potentially contaminated land (PCL)

c)

Environmentally impacted site

d)

Brownfield

26.

Contract between the owner and the property manager

a)

Business agreement

b)

Management contract

c)

Supervisory contract