問題一覧
1
Which of the following is a true statement about price ranges in a given market
When studying Price levels, you should look at how they rise or fall within a given price range, and not merely average sales price.
2
Which of the following benefits affects potential buyers of an auction property
Properties for sale at auction may be sold as is and therefore at a reduced price
3
Selena was obtaining a conventional loan, and she put $50,000 down as a down payment. Why might her lender also require her to obtain private mortgage insurance
Her down payment of $50,000 isn't at least 20% of the purchase price
4
Mark is performing a income property appraisal and is converting the properties income potential to current value. He's dividing the sale price of a comparable property by its total gross income. Which method is he using?
GIM
5
In which section of the report would the appraiser include the subject properties history and its recent sales and listings
Introduction
6
Which of the following is NOT a purpose of touring a subject property
Determine a list price range
7
Which of these is NOT a likely features of a bridge loan?
Armorized loan paid back over a period of no more than five years
8
In the title theory state, which of the following is a true statement?
It's generally much easier for a lender to foreclose on a property
9
What does “caveat emptor” mean?
Let the buyers beware
10
Which of the following resources was developed to improve the quality in consistency of appraisal data for loans delivered to the Fannie Mae and Freddie Mac?
Universal Appraisal dataset
11
Real estate professionals handle many documents related to real estate transactions. Which one of the items listed below is one of the most important in detecting mortgage fraud?
The original sales agreement and any addenda
12
What type of adjustment will an appraiser make to show an overall effect on market value of a factor such as a change in market condition?
Percentage adjustment
13
If land is described as “beginning at the great Oak 60 yards from the center of the rock river that runs north to south through the county,” what type of legal description is being used?
metes and bounds
14
Lenore makes a 95% offer on a townhouse that's listed at $285,000 and includes an earnest money deposit for 10% of her offer, which the seller accepts. She brings to closing a cashiers check for $35,025 comprising the balance of her 20% down payment and closing cost. What's the amount of her total down payment?
$54,150
15
Which of the following properties would require the fewest adjustments in comparison with a split level subject property that has been well-maintained with limited depreciation due to a normal wear and tear and was built 10 years ago?
Property D is a one-and-a-half-story home built 15 years ago
16
Steven 114 acres of wooded and rural land. The abundance of wildlife on his property means his friends are always asking for permission to hunt on it during various game season. If Steven gives a friend permission to hunt on his land it can be said that he is given his friend a _______.
License
17
When a contract has been breached, the wrong party may attempt to sue for punitive damages, which are
Payments in excess of any compensatory damages
18
Which of these is an example of bulk zoning
Misty Falls restricts building any structure within 15 feet of a roadway
19
If a private individual owner doesn't own more than three single-family homes at one time, which exemption from the fair housing act could apply?
Single family housing sold or rented without the use of a broker
20
The town planning and zoning board is considering some new zoning regulations to ensure that one of the neighborhoods maintain its designation on the national register of historic places. What type of zoning are they likely to enact
Aesthetic zoning
21
Under what circumstances might an appraiser use a 15% adjustment?
When housing prices have dropped by 15%
22
What rating scale do appraisers used to indicate the quality of workmanship, materials, and finish of the subject property and comparable properties?
A range from Q1 for exceptionally high quality to Q6 for the most basic quality
23
Chelsea's mother owns several rental properties and intends to keep them to pass on to the family. Chelsea holds a special power of attorney to manage the rental properties, including working with the property manager to place an evict tenants as necessary. Which of these would violate the POA?
Without consulting her mother Chelsea decides to completely refurbish one of the properties
24
______ is a standardized measure for interest rates and other cost of loan
Annual percentage rate