Chapter 1 - Quiz Flashcards
1
Q
Why is there a high demand for property managers in Florida? High temperatures Absentee owners Gated communities Cruise ships
A
Absentee owners
2
Q
An appraisal can be completed by which of the following?
A licensed appraiser using USPAP standards
A mortgage loan originator
A real estate broker
A home inspector
A
A licensed appraiser using USPAP standards
3
Q
Which of the following is NOT considered a major real estate licensee sales specialty? Agricultural Residential Cemetery Plots Commercial
A
Cemetery Plots
4
Q
One qualified by education, training and experience who is hired to estimate the value of real and personal property based on experience, judgment, facts, and use of formal appraisal process is known as a/an? Sales Associate Broker Underwriter Appraiser
A
Appraiser
5
Q
Which of the following is incorrect?
Farming is a great way for a licensee to introduce themselves.
Farming methods include Direct Mail and Just Listed Post Cards.
Farming only involves raising crops, fish or animals.
Farming involves concentrating business efforts in a particular geographical area.
A
Farming only involves raising crops, fish or animals.
6
Q
An organization with at least one real estate broker acting as the agent for others in negotiating the sale or rental of real property for a fee is known as a/an? MLS Management company Cooperative Real estate brokerage
A
Real estate brokerage
7
Q
What is a home built from blueprints supplied by the buyer is called? An architectural original A tract home A custom home A spec home
A
A custom home
8
Q
MLS is an acronym for which of the following? Multiple Land Syndication Multiple Lender Sources Multiple Listing System Major Lending Service
A
Multiple Listing System
9
Q
What is dedication? Giving up private land for public use Putting other people's priorities above your own Donating a building to a private school The motto of the health service
A
Giving up private land for public use
10
Q
What is a BPO? Best Prospective Offer Broker Price Opinion Best Practice Organization Beyond Present Opportunities
A
Broker Price Opinion
