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Real Estate Exam Prep Final Exam

Free Practice Test Instructions:

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

Question 1 1.

A homeowner with a house appraised at $450,000 recently experienced a flood which caused $320,000 in damage to the structure. Through the National Flood Insurance Program, how much will the homeowner be responsible for?

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Question 2 2.

A percentage rent lease would most typically be found for what type of tenant?

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Question 3 3.

An investor earns a gross profit of $29,000 on a property. The investor paid $120,000 for the property, and the investor's tax rate is 24%. What is the return on investment (ROI)?

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Question 4 4.

Within an agency relationship, the fiduciary is known as:

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Question 5 5.

Leo has applied for a mortgage. The lender provides Leo with a form that breaks down the cost of the mortgage in an easy to understand format. What is this form called?

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Question 6 6.

Commission received from the direct result of a sale must be payable to whom?

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Question 7 7.

A title that does not grant holders ownership of a property but the ability to use the property is known as a/an:

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Question 8 8.

If an investor wants to know how many acres a plot of land that is 153,000 square feet is, that investor will need to divide:

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Question 9 9.

What is the LTV ratio if a seller and buyer agree on a $300,000 purchase price with the buyer putting down $50,000 on the home that is appraised for $295,000?

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Question 10 10.

Which act requires the federal government to consider the significant environmental impact a project might have on the environment?

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Question 11 11.

What is the value the government utilizes to determine what the property taxes levied will be on a property referred to as?

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Question 12 12.

A quasi contract provides:

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Question 13 13.

Harry was contracted to replace the roof on Pam's home. Once completed, Harry requested payment. Pam refused to return Harry's calls and has found out Pam has listed her home for sale. What is one option Harry has in this scenario?

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Question 14 14.

If a buyer is interested in a house and submits her mortgage application, within three days, the mortgage broker should provide the buyer with a/an:

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Question 15 15.

What is the difference between an easement and an easement in gross?

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Real Estate Exam Prep Final Free Practice Test Instructions

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

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