Real Estate MCQs

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Which of the following scenarios MOST accurately describes the typical income tax implications of REIT dividends for pension funds?






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What are the typical implications to an REIT investor of REITs being listed?






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Which of the following describes a typical equity REIT?





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What is NOT one of the major ways that a REIT can be structured?






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Which of the following statements is LEAST accurate regarding UPREITs and downREITs?






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How would a histogram of US REIT returns over the last twenty years be described?






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Past correlation of US REIT returns (over the last 20+ years) tends to indicate which of the following aspects of REITs as a diversifier?






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How is the NCREIF Property Index calculated?






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Which of the following results is NOT an implication of the smoothing of real estate returns due to the use of appraisals?






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What is NOT a major method of unsmoothing a real estate index?






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Which of the following styles was NOT developed by the National Council of Real Estate Investment Fiduciaries (NCREIF) for analyzing direct real esta...






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What style of real estate investing is characterized by being the most liquid, the most developed, the least leveraged, and the most recognizable?






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Which of the following characteristics best describes PERE (private equity real estate) investments?






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Possession of a current and valid license will be considered by a court






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A sales associate gets a signed contract from a buyer and mails it to the seller. The seller has agreed to the terms and the escrow deposit is safely...






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A licensee who has passed the brokers state examination, but desires to continue to operate under an owner-employer will be registered as a






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A hardware store owner, who is neither a real estate licensee nor a licensed or certified appraiser, was appointed by the court to appraise another h...






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In order to be a licensee member of the Florida Real Estate Commission, an individual must have been licensed a minimum of






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Broker Bill has a listing contract to sell Janets condominium. A prospective buyer offers to pay $60,000, but refuses to give a binder deposit with t...






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A buyer gives a sales associate a binder check made out to him. The sales associate should






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The F.R.E.C. is composed of






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Licensure may be suspended for what maximum period of time?






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Broker Larry, Broker Linda, and Broker Susan form a partnership to buy a tract of land and develop and sell the land. Sales Associate Lee joins the p...






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Which is not correct?






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The passage of rules require






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Jane is a broker and accepts a deposit made out to her firm for $3,000. What is her legal requirement?






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Broker Jacqui decides to move her branch office from Fort Walton to Panama City. The proper procedure is for Jacqui to






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A real estate sales associate is a person who






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A sales associate chooses not to renew his license at the appropriate time. His license will be






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The license period at Florida is currently






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Which category is exempt from licensing when performing real estate services?






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Practicing real estate without a license is a






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During the week, Janet works for Wonder Works Realty, Inc. as a sales associate. On weekends, she holds open houses for Schultz Homes, and is paid a ...






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A sales associate properly licensed with a broker may






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Who can receive compensation directly from an owner?






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Which is correct about a group license?






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Which of the following is a legal brokerage office? I. permanent building with at least one office II. sign at or about entrance with "Licensed Real...






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Required brokerage relationship disclosures must be retained by the broker for:






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Which of the following best describes the relationship of a broker and his principal?






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A licensee fails to renew his license at renewal time, and desires to become active again 16 months later. What must he do?






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John Harrison, a sales associate, leaves the employ of Gilbert Miller, a licensed real estate broker. John wrote a sales contract prior to his termin...





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A Kentucky lawyer and a Florida broker joint venture to sell property in Florida for a friend of the Kentucky lawyer. What can the Kentucky lawyer re...




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Joyce owns property in Tallahassee which is 100 feet on the road and 125 feet deep. The city paves the street and agrees to pay 25% of the cost. The ...






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Hinson forms a limited partnership to develop and sell real property. Hinson will be the general partner will do all the work. Bailey buys units as a...






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A Fort Walton Beach real estate broker is the property manager for several condos on the beach which rent for $1,000 per month. He also manages sever...






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Jill sells commercial property exclusively. Which is correct about her brokerage relationships?






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Which of the following is most correct?






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An example of institutional advertising would be






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Which of the notices shown below MUST be signed by a buyer or a seller.






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John and Edward were brokers with their own firms. An economic downturn made them decide to share office space. They did not put up signs which descr...






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A broker decides to go to work for an owner-developer, and will be compensated on a salary plus commission basis. Which is correct?






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Which of the following situations requires disclosure of brokerage relationship to a customer? I. sale of improved property with four units or fewer...






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Which brokerage relationship status requires that a broker disclose known facts that materially affect the value of residential property?






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A licensed sales associate of a brokerage corporation may






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Dexter Bonham is purchasing property through Lawrence Hafner, licensed real estate broker. Hafner sold the same piece of property last year. Because ...






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A single agent broker who wishes to remain loyal to the principal yet be involved in both sides of a transaction






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An easement created when a person has been using a roadway without permission for over 20 years is called an






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All the following are methods of transferring legal title to real property except by






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Jim, Matt and Jack were co-owners of a parcel of real property. Matt died, and his coownership passed, according to his will, to become part of his es...






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Which of the following is immediately south of Township 2 South, Range 6 West?






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An owner wishes to have a survey made of a commercially-zoned parcel. It is 90 feet on the front, 159 feet on the north side, 120 feet on the back an...






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Which of the following is not required on a contract?






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To be valid, a deed must be






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Title to real property passes to the grantee when the deed is






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Henry has a capital gain on the sale of his home of $197,000. He has owned the property for two years. The sales price was $425,000. Costs of sale we...






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If an owner arrives before the foreclosure sale and pays the entire debt, court costs and legal fees, and interest on the property, he is exercising ...






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A subdivision developer gives the county title to streets in a subdivision. The county accepts the streets for maintenance. This transfer of title is...






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Which of the following acts as an insurance agency?






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Which happens to the monthly payments on a fixed payment mortgage?






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The most common method used by the Federal Reserve Board to control the supply of money is by






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An example of functional obsolescence is which of the following?






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If the capitalization rate increases, the value






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Which is synonymous?






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Which is most closely related to the comparable sales approach?






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Plottage is






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Which of the following forms of depreciation is usually found in external obsolescence?






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What is not available to the Federal Reserve System in controlling the money supply?






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Under the income approach, value equals






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Lien theory means that the mortgage






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What is the final step after an appraiser has utilized all three approaches to value?






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Which of the following expenses is not deducted from effective gross income in calculating net operating income?






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John purchases a home, and the seller helps to finance the sale. The price is $100,000, and John is to make a $10,000 cash down payment. The amount o...






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A seller tells a real estate licensee that he does not want his house shown to ethnic buyers. The sales associate should say





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Jim Singletary wishes to construct an office building containing 24,000 square feet. The zoning in the area requires 1 parking space for every 400 sq...






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Which is not correct? I. Redlining is not a violation of state and federal laws. II. “Blockbusting” is a description of the practice of ...






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John is a broker in Tallahassee, and meets for lunch with Martha, his most important competitor. They agree that, effective January 1 of the followin...






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A prospect enters Broker A office and requests to be shown houses in neighborhoods with certain racial characteristics. The broker advises the prospe...






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Which is deducted from gross income to arrive at net operating income?






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A reasonably good balance between supply and demand of apartments is






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The Fair Housing Act of 1968 (with amendments) prohibits discrimination






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What requires lenders to give a Good-Faith Estimate?






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Which is correct about Regulation Z?






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Marilyn is applying for a loan to finance her new home in an area where there are minorities. The loan officer tells her that she should try to find ...






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Which may be deducted for income tax purposes by a homeowner?






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Usually, local planning commissions are composed of






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Fred has a long-term capital loss on the sale of his personal residence. He may deduct






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A comparable property sold a year ago for $70,000, but would have sold for about eight percent more today. The appraiser should:





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A small apartment property is estimated to have potential gross income of $ 25,000. Vacancy and collection losses are expected to average 5 percent o...






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A 3-year insurance policy costing $1,164 is taken out November 1, 1995. The property was sold on May 15, 1996, and the day of closing belongs to the ...






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An appraiser values a 4-bedroom home with a pool. A pool normally adds $14,000 value to a property, and a bedroom is worth $9,000. She locates the fo...