Intro To Real Estate Business

Front 1

Real Estate activity plays a major role in the nations economy in that:

a) real estate is one of the largest sources of building wealth

b) real estate & related industries employee nearly 2 million

c) new home sales make a direct contribution to gross domestic product

d) all of these

Back 1

D) all of these

Front 2

Most states define the services of real estate brokerage for compensation as all of these except:

a) buying and selling

b) leasing

c) engineering

d) negotiating and offering

Back 2

C) engineering

Front 3

The general public has the right to expect
that the licensee in the transaction has
knowledge and expertise regarding:

a. property transfer.
b. market conditions.
c. marketing.
d. all of these

Back 3

D) all of these

Front 4

The prospecting activity that involves a
geographical area, staying in contact with
all residents of a select neighborhood and
providing information and real estate
services is:

a. farming.
b. cold calling.
c. distributing.
d. Advertising.

Back 4

A) Farming

Front 5

Property managers are NOT usually
expected to:

a. locate the tenant.
b. facilitate the execution of the
lease.
c. collect deposits and rents.
d. repair broken household items

Back 5

D) repair broker household items

Front 6

Which of these services in assessing a
property’s market value is the most
extensive and requires state licensing or
certification?

a. broker’s price opinion
b. appraisal
c. comparative market analysis
d. gross rent multiplier

Back 6

B) appraisal

Front 7

Which of these services is a licensed real
estate agent most likely to provide in
rendering an opinion of value?

a. appraisal
b. broker price opinion
c. comparative market analysis
d. property report

Back 7

C) comparative market analysis

Front 8

Before a builder can begin to construct
homes on subdivided lots, he must first
submit and have approved a:

a. conditional use permit.
b. subdivision plat map.
c. zoning variance.
d. business plan.

Back 8

B) subdivision plat map

Front 9

Homes where the subdivision will typically
have a few models from which purchasers
can choose to have the builder construct
on their behalf are called:

a. tract homes.
b. spec homes.
c. custom homes.
d. mobile homes.

Back 9

A) tract homes

Front 10

The act of turning over ownership to
subdivision amenities such as streets,
sidewalks, and green areas, is:

a. assignment.
b. dedication.
c. gifting.
d. devotion.

Back 10

B) dedication