Practice Quiz

Real Estate Agent / Broker / Salesperson Exam Prep - Question List

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26. Which of the following real estate syndicates requires 100 or more investors:
  1. Limited partnership
  2. Joint venture
  3. Corporation
  4. Real Estate investment trust
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27.

The amount paid by a mortgagor for mortgage insurance, either government or private is called:

  1. Mortgage insurance premium
  2. Private mortgage insurance premium
  3. FHA insurance premium
  4. VA insurance premium
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28. A salesman receives a deposit together with a written offer to purchase and delivers them to the employing broker who presents it to the seller. The seller signs and accepts the offer. Without the consent of the salesman and through no fault of his own, the buyer and seller instruct the salesman’s employing broker to return the deposit. Which of the following is true?
  1. The salesman’s employing broker may retain one-half of the deposit and must give one-half to the seller
  2. The broker may sue the seller but must return the deposit
  3. The broker may retain one-half of the deposit and must return only one-half to the buyer
  4. The broker may retain the deposit to compensate him for his efforts
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29. Insofar as a residential neighborhood is concerned, which of the following would offer the least protection against blighting influences on future development:
  1. Natural or artificial barriers
  2. Partially built-up neighborhood
  3. New neighborhood in the path of directional city growth
  4. All families with similar income
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30. Which of the following is not true of the term “depreciation”?
  1. It is a decline in the value of property
  2. It is an accounting term showing the declining monetary value of an asset
  3. It is a true expense where money is actually paid
  4. Lenders add back depreciation expense for self-employed borrowers and count it as
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