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15 Cards in this Set
- Front
- Back
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A mortgage broker a. is the same as a mortgage banker. b. must have a separate license. c. originates loans. d. must have a real estate license |
B |
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A real estate appraiser's fee for professional service is based on a. a % of the properties gross income. b. a % of the fair market value of the property. c. the time and difficulty of the appraisal. d. a % of the properties sales price. |
C |
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The real estate brokerage business can be best described as a a. service business. b. simple business. c. business with few opportunities available. d. construction business. |
A |
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The principal in an agency relationship is the a. customer b. seller c. employer d. buyer |
C |
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The responsibilities of a property manager do NOT include a. renting property for an absentee owner. b. collecting rent. c. overseeing maintenance. d. preparing leases. |
D |
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Concentrating on one neighborhood or style of property is a. a waste of time b. a practice called farming c. required by most brokers d. illegal |
B |
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Which insurance policies can a real estate licensee offer to the public without additional state licensing? a. flood insurance b. fire insurance c. renter's insurance d. none |
d |
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The purpose of the National Association of REALTORS is to a. preserve the right of individuals to own real property through an exchange of information b. organize anti-government activities c. promote unethical practice of real estate professionals d. award unearned educational designations. |
a |
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What does the designation REALTOR signify? a. anyone in possession of a real estate license b. designation as a member of NAR c. designation is evidence of extensive background in the real estate profession d. evidence that the licensee has completed extensive studies |
B |
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a developer contracts to build a home on a buyer's lot to the buyer's specifications. This is an example of which type of building? a. tract b. custom c. speculative d. subdivision |
B |
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In their relationships with customers, brokers a. work for them. b. work with them. c. represent them. d. are always their agent. |
B |
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Licensees involved in business brokerage a. must be able to analyze operating statements and understand balance sheets b. are not required to know much about the business they are selling. c. must have a separate license. d. never become involved in the tax aspects of the business. |
A |
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Real estate brokers are NOT required to be knowledgeable regarding a. marketing. b. valuation. c. property transfer. d. accounting. |
D |
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The service provided by real estate brokers that is considered to require the most experience and knowledge is a. property management. b. counseling. c. appraising. d. agricultural sales. |
B |
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Appraisers that are registered, licensed or certified under F.S. 475, part II, must be utilized in a. all appraisals b. the appraisal of residential property c. the appraisal of nonresidential property d. federally related transactions |
D |
