Quiz 1 Flashcards
- Warehouses, factories, and power plants are examples of
(a) commercial properties.
(b) industrial properties.
(c) special purpose properties.
(d) mixed-use properties
(b) industrial properties.
- Population demographics and wage levels have an important effect on
(a) monetary policy.
(b) construction rates.
(c) supply.
(d) demand.
(d) demand.
- The two characteristics of real estate that govern the way the market reacts to supply and demand are
(a) financing and appraisal.
(b) mobility and conformity.
(c) uniqueness and immobility.
(d) demographics and interest rates
(c) uniqueness and immobility.
- Real estate markets are best described as
(a) mobile.
(b) balanced.
(c) local.
(d) immune to supply and demand forces.
(c) local.
When the supply of a commodity decreases and the demand remains the same price tends to
Rise
When the demand of a commodity decreases and the supply remains the same
prices tend to fall
A real estate professional who performs a visual survey of a property’s structure and systems and prepares an
analytical report for a purchaser or an owner is acting as
a home inspector.
When responsible for maintaining a client’s property and maximizing return on the client’s investment, a broker
is a serving as
a property manager
The phrase “bundle of legal rights” is properly included in
(a) the definition of real property.
(b) a legal description.
(c) real estate transactions.
(d) leases for less than one year.
(a) the definition of real property.
The right to control one’s property would NOT include the right to
(a) invite people to the property for a political fundraiser.
(b) exclude the utilities meter reader.
(c) erect “no trespassing” signs.
(d) enjoy pride of ownership.
(b) exclude the utilities meter reader.
