Real Estate MCQs
- ?Which of the following scenarios MOST accurately describes the typical income tax
implications of REIT dividends for pension funds?
- ?What are the typical implications to an REIT investor of REITs being listed?
- ?Which of the following describes a typical equity REIT?
- ?What is NOT one of the major ways that a REIT can be structured?
- ?Which of the following statements is LEAST accurate regarding UPREITs and downREITs?
- ?How would a histogram of US REIT returns over the last twenty years be described?
- ?Past correlation of US REIT returns (over the last 20+ years) tends to indicate which
of the following aspects of REITs as a diversifier?
- ?How is the NCREIF Property Index calculated?
- ?Which of the following results is NOT an implication of the smoothing of real estate
returns due to the use of appraisals?
- ?What is NOT a major method of unsmoothing a real estate index?
- ?Which of the following styles was NOT developed by the National Council of Real
Estate Investment Fiduciaries (NCREIF) for analyzing direct real esta...
- ?What style of real estate investing is characterized by being the most liquid, the most
developed, the least leveraged, and the most recognizable?
- ?Which of the following characteristics best describes PERE (private equity real
- ?Possession of a current and valid license will be considered by a court
- ?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...
- ?A licensee who has passed the brokers state examination, but desires to continue to
operate under an owner-employer will be registered as a
- ?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...
- ?In order to be a licensee member of the Florida Real Estate Commission, an individual
must have been licensed a minimum of
- ?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...
- ?A buyer gives a sales associate a binder check made out to him. The sales associate
- ?The F.R.E.C. is composed of
- ?Licensure may be suspended for what maximum period of time?
- ?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...
- ?Which is not correct?
- ?The passage of rules require
- ?Jane is a broker and accepts a deposit made out to her firm for $3,000. What is her legal
- ?Broker Jacqui decides to move her branch office from Fort Walton to Panama City. The
proper procedure is for Jacqui to
- ?A real estate sales associate is a person who
- ?A sales associate chooses not to renew his license at the appropriate time. His license will
- ?The license period at Florida is currently
- ?Which category is exempt from licensing when performing real estate services?
- ?Practicing real estate without a license is a
- ?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 ...
- ?A sales associate properly licensed with a broker may
- ?Who can receive compensation directly from an owner?
- ?Which is correct about a group license?
- ?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...
- ?Required brokerage relationship disclosures must be retained by the broker for:
- ?Which of the following best describes the relationship of a broker and his principal?
- ?A licensee fails to renew his license at renewal time, and desires to become active again
16 months later. What must he do?
- ?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...
- ?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...
- ?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 ...
- ?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...
- ?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...
- ?Jill sells commercial property exclusively. Which is correct about her brokerage
- ?Which of the following is most correct?
- ?An example of institutional advertising would be
- ?Which of the notices shown below MUST be signed by a buyer or a seller.
- ?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...
- ?A broker decides to go to work for an owner-developer, and will be compensated on a
salary plus commission basis. Which is correct?
- ?Which of the following situations requires disclosure of brokerage relationship to a
I. sale of improved property with four units or fewer...
- ?Which brokerage relationship status requires that a broker disclose known facts that
materially affect the value of residential property?
- ?A licensed sales associate of a brokerage corporation may
- ?Dexter Bonham is purchasing property through Lawrence Hafner, licensed real estate
broker. Hafner sold the same piece of property last year. Because ...
- ?A single agent broker who wishes to remain loyal to the principal yet be involved in both
sides of a transaction
- ?An easement created when a person has been using a roadway without permission for
over 20 years is called an
- ?All the following are methods of transferring legal title to real property except by
- ?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...
- ?Which of the following is immediately south of Township 2 South, Range 6 West?
- ?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...
- ?Which of the following is not required on a contract?
- ?To be valid, a deed must be
- ?Title to real property passes to the grantee when the deed is
- ?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...
- ?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 ...
- ?A subdivision developer gives the county title to streets in a subdivision. The county
accepts the streets for maintenance. This transfer of title is...
- ?Which of the following acts as an insurance agency?
- ?Which happens to the monthly payments on a fixed payment mortgage?
- ?The most common method used by the Federal Reserve Board to control the supply of
money is by
- ?An example of functional obsolescence is which of the following?
- ?If the capitalization rate increases, the value
- ?Which is synonymous?
- ?Which is most closely related to the comparable sales approach?
- ?Plottage is
- ?Which of the following forms of depreciation is usually found in external obsolescence?
- ?What is not available to the Federal Reserve System in controlling the money supply?
- ?Under the income approach, value equals
- ?Lien theory means that the mortgage
- ?What is the final step after an appraiser has utilized all three approaches to value?
- ?Which of the following expenses is not deducted from effective gross income in
calculating net operating income?
- ?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...
- ?A seller tells a real estate licensee that he does not want his house shown to ethnic buyers.
The sales associate should say
- ?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...
- ?Which is not correct?
I. Redlining is not a violation of state and federal laws.
II. “Blockbusting” is a description of the practice of scaring ...
- ?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...
- ?A prospect enters Broker A office and requests to be shown houses in neighborhoods
with certain racial characteristics. The broker advises the prospe...
- ?Which is deducted from gross income to arrive at net operating income?
- ?A reasonably good balance between supply and demand of apartments is
- ?The Fair Housing Act of 1968 (with amendments) prohibits discrimination
- ?What requires lenders to give a Good-Faith Estimate?
- ?Which is correct about Regulation Z?
- ?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 ...
- ?Which may be deducted for income tax purposes by a homeowner?
- ?Usually, local planning commissions are composed of
- ?Fred has a long-term capital loss on the sale of his personal residence. He may deduct
- ?A comparable property sold a year ago for $70,000, but would have sold for about eight
percent more today. The appraiser should:
- ?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...
- ?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 ...
- ?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...