45 HOUR REAL ESTATE PA EXAM LATEST

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45 HOUR REAL ESTATE PA EXAM LATEST /

TEST BANK ACTUAL EXAM QUESTIONS AND VERIFIED

ANSWERS (100% CORRECT ANSWERS) GRADED A+

(NEWEST!!)

What type of agents specialize in working with buyers only?

a) Listing agents

b) Buyer's agents

c) Dual agents

d) Transaction coordinators - Correct Answer - Buyer's agents

REO real estate agents specialize in handling:

• short sales.
• rehab properties.
• bank-owned properties.
• multi-dwelling properties. - Correct Answer - bank-owned properties.

The competition for the resort home real estate buyer, and even many sellers, begins:

• with an agent.
• on the internet.
• with an attorney.
• with a broker. - Correct Answer - on the internet.

Creating real properties from raw land involves capital formation, financing, construction

contracting, and:

• performance.
• regulatory approvals.
• management.
• maintenance. - Correct Answer - regulatory approvals.
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pg. 2 In a real estate auction if the property is sold to the highest bidder regardless of the

price, this is a(n):

• absolute auction.
• reserve price auction.
• minimum bid auction.
• resolute auction. - Correct Answer - absolute auction.

Agent selection, declaration and proof of hardship, property valuation, agreement,

application, finding a buyer, negotiating, and closing are steps in a:

• normal real estate transaction.
• commercial real estate transaction.
• land sales contract.
• short sale real estate transaction - Correct Answer - short sale real estate

transaction

Most newly licensed practitioners choose to begin their real estate careers in:

• residential brokerage.
• land brokerage.
• commercial brokerage.
• investment brokerage - Correct Answer - residential brokerage.

A property manager acts in the best interests of:

• the public.
• the owner.
• him or herself.
• the tenants. - Correct Answer - the owner.

What refers to property that is owned and used for habitation?

a) Investment property

b) Residential property

c) Industrial property

d) Commercial property - Correct Answer - Residential property

Who is a direct agent of the principal (buyer or seller) who is hired for compensation to perform a stated service, such as negotiating the sale of property? 2 / 4

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a) A broker

b) A property manager

c) An agent

d) A lender - Correct Answer - broker

What is an area of landscape, including various structures, for the practice of raising grazing livestock such as cattle or sheep, for meat or wool?

a) An estate

b) A farm

c) A grange

d) A ranch - Correct Answer - ranch

Who services mortgage loans?

a) Mortgage brokers

b) Surveyors

c) Mortgage bankers

d) Attorneys - Correct Answer - Mortgage bankers

Who holds money or documents until certain terms and conditions of the escrow are met?

a) An insurance company

b) A property manager

c) An escrow company

d) An agent - Correct Answer - An escrow company

The principal areas of government regulation of real estate are usage, taxation, and:

• goal conflict.
• technology.
• housing administration.
• maintenance. - Correct Answer - housing administration.

Who can offer prospective buyers information about the various aspects of purchasing, using, or investing in property?

a) Attorneys

b) Mortgage brokers 3 / 4

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c) Appraisers

d) Real estate counselors - Correct Answer - Real estate counselors

When a buyer can afford a significant expense to purchase and maintain a vacation

property, he or she is generally:

• an uneducated buyer.
• a naïve buyer.
• a ready buyer.
• an intelligent buyer. - Correct Answer - an intelligent buyer.

Who generally pays the expenses of a real estate employee?

a) The buyer

b) The Commission

c) The seller

d) The broker - Correct Answer - The broker

How much does a broker withhold from the commission when paying an independent contractor?

• 0%
• 7%
• 10%
• 23% - Correct Answer - 0

If a licensee lists and sells a property, what side will he or she receive commission from?

a) The selling side

b) Neither side

c) The listing side

d) The listing and selling side - Correct Answer - The listing and selling side

Commission can be calculated through a percentage of the transaction, a flat fee, a fee

for service or:

• earned income.
• a salary.
• renumeration.
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