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Real Estate Trivia

Total questions: 20

Worksheet time: 3mins

Name
Class
Date
1.

A Seller must disclose if a death occurred at the property within the last _____ years:

a)

1

b)

3

c)

5

d)

7

2.

PITI stands for:

a)

Principal, insurance, taxes, interest 

b)

Property, interest, television, internet 

c)

Principal, interest, taxes, insurance 

d)

Property, Inspection, Title, Insurance 

3.

Shanna's favorite day to list a property on the MLS is:

a)

Monday

b)

Everyday

c)

Thursday

d)

May 21st

4.

During a traditional escrow period, the appraiser is hired by:

a)

Seller

b)

Buyer

c)

Inspector

d)

Lender

5.

What does MLS stand for?

a)

Mega Listing Strategy 

b)

Multiple Listing Service

c)

Multiple Listing Supply

d)

Many Listings Surprise

6.

What is most likely to be called out on a pest report? 

a)

Mice in the attic

b)

Dry Rot under the eaves

c)

Ant Hill in the backyard 

d)

Birds nesting in porch lamp

e)

All of the Above

7.

A 2-unit property where each half of the unit has its own parcel number and owner:

a)

Duplex

b)

Townhome

c)

Halfplex

d)

Condo 

8.

A property that is sold for less than the debt secured by the property is known as what kind of sale?

a)

Foreclosure

b)

Conditional Sale

c)

Short Sale

d)

Conventional Sale

9.

A clause in the purchase agreement that protects the Buyer's earnest money deposit for a set period of time:

a)

Condition

b)

Exception

c)

Contingency

d)

Cancellation

10.

What “C” word refers to homes that have been sold in a given area in the past six months that help a real estate agent to determine a home’s value?

a)

Contingency

b)

Condition

c)

Comparable

d)

Commission

11.

In order for a room to be considered a BEDROOM, it must have:

a)

Closet

b)

Overhead Lighting

c)

Carpet

d)

At least 2 electrical outlets

12.

The maximum number of units for a property to still be considered residential:

a)

5

b)

4

c)

3

d)

10

13.

There are currently ________ active SFR in Sacramento county.

a)

2272

b)

1373

c)

1508

d)

967

14.

What type of tax applies to real estate transactions?

a)

Income Tax

b)

Property Tax

c)

Sales Tax

d)

Transfer Tax

15.

In April 2024, Sacramento county's average days on market dropped to ______. A 50% decrease from April 2023.

a)

20

b)

15

c)

18

d)

25

16.

The down payment typically required for an FHA loan is

a)

3%

b)

20%

c)

3.5%

d)

10%

17.

What is typically not included in a Buyer's closing costs?

a)

Recording fee

b)

Transfer Tax

c)

Lender fee

d)

Real estate commissions

18.

In April 2024, Placer county's average price per square foot is:

a)

$405

b)

$379

c)

$318

d)

$355

19.

To get a home ready for market, a seller must do what?

a)

Move all personal belongings out of the home

b)

Repair all damage to the property

c)

Sign a listing agreement

d)

All of the above

20.

Shanna can assist Buyers, Sellers, and Investors in what area?

a)

Sacramento county

b)

California

c)

Nationwide

d)

Northern California counties