New Construction Real Estate Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

Page 1

Question 1 1. A _____ indicates that the home has good insulation.

Question 2 2. A buyer is concerned about the costs of heating and cooling a large home. The real estate consultant should _____.

Question 3 3. A potential home buyer consults a real estate professional about building a new home with four bedrooms, three bathrooms, and a study in Walkway Park. There is not a model home available for the buyer to view. The real estate associate should _____.

Question 4 4. The final phase of construction on a new home is _____.

Question 5 5. A buyer has stressed to the real estate professional that the most important feature of a home is that there is a place for his baby grand piano. The consultant should _____.

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Question 6 6. What is a benefit of a model home?

Question 7 7. What is a benefit of purchasing a newly constructed home?

Question 8 8. What is one main characteristic of new construction custom homes?

Question 9 9. What is a benefit to the builder when constructing spec homes?

Question 10 10. What is an example of someone in the process of new home construction?

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Question 11 11. What is the main function of new construction builders do in real estate?

Question 12 12. What is one way home builders may use to sell homes?

Question 13 13. What may limit the number of homes a builder can build at once?

Question 14 14. New home builders have several functions. When they build pre-designed homes, when do they typically pursue buyers?

Question 15 15. You take a client to a model home for a new subdivision going in. What is one of the most common benefits of your buyer seeing a model home?

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Question 16 16. If a builder was interested in branding his new development of log cabin homes, his branding would NOT include creating a logo that depicted _____.

Question 17 17. New construction experts agree that approximately _____ of the total budget should be allocated for advertising costs.

Question 18 18. Successful builders maintain an active social media presence, have sophisticated web sites, feature video tours and boast about _____.

Question 19 19. When building a new home or community, a builder should use the most effective marketing strategies in order to expand their business. They should decide who their target audience is, hire an expert to help develop a successful marketing and advertising plan, and _____.

Question 20 20. Some of the advantages of purchasing a new home rather than an older one might be an attractive park nearby, easily available shopping, and _____.

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Question 21 21. It is important for the seller or builder's agent to _____ in the property by making the buyer aware of any sales incentives (such as free appraisals from the builder's preferred lender) and talking up the advantages of living in a brand new home.

Question 22 22. If the buyer wants to have a third party inspection done on the property outside of the builder scheduled builder walk-through(s) in the original contract and the builder agrees to this, how should they memorialize the agreement?

Question 23 23. Which of the following should be included in a new home sales contract?

Question 24 24. New home contracts often include a set of obligations the buyer must abide by for as long as they own the property. These obligations are known as _____.

Question 25 25. Which of the following statements is FALSE?

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Question 26 26. Any land development located on or near wetlands would require that a permit be issued and is regulated by the _____.

Question 27 27. Licensed geologists may be able to recognize sinkhole activity by performing an inspection; however, it is not always possible to _____

Question 28 28. When a developer is considering purchasing land, there are several necessary factors to consider, including determining the highest and best use, the cost for permits, paving of roads, bringing utilities from the street to a structure and the cost of conducting _____

Question 29 29. The _____ of a property is to determine what the most reasonable, probable and legal use of vacant land or property is and to determine that it is physically possible, financially feasible and results in the highest value.

Question 30 30. If a developer is not sure if there is or has been toxic materials or hazardous wastes located on a property, he or she must contact a professional engineering company to conduct an assessment that must meet the standards set by the _____.

New Construction Real Estate Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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