Pratice Exam

Question 1

Mary’s property has been assessed at a higher percentage of value than all of the other properties on the same assessment roll. What is this an example of ?

Answer 1

Unequal assessment

Question 2

According to truth in lending , a lender must disclose all of the following except which one ?

Answer 2

Broker’s commission

Question 3

“Everyone charges the same so you might as well list with me “ is an example of …

Answer 3

Price fixing

Question 4

Amanda green sold her property to Sally Fay. Amanda will retain title to the property until Sally has paid in full. What kind of contract do Amanda and Sally have ?

Answer 4

Land contract

Question 5

What must a listing agent do before ent ring into a cooperative agreement creating a subagency ?

Answer 5

Obtain the informed consent of the seller ….

Question 6

Which of the following is considered a fixed operating expense ?

Answer 6

Insurance premiums