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FREE REAL ESTATE AND STUDY GAMES ABOUT REAL
ESTATE GAME EXAM QUESTIONS
Actual Qs and Ans Expert-Verified Explanation
This Exam contains:
-Guarantee passing score -18 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation Question 1: Many buyers think they can't use a Realtor when purchasing a _______
Answer:
New Build
Question 2: One of two 100% financing programs
Answer:
USDA Rural Housing
Question 3: A gov't backed loan program with only 3.5% down
Answer:
FHA Loan Question 4: The relationship of trust that exists between sellers and buyers and their agents.
Answer:
Agency
Question 5: Preparing the home for sale
Answer:
Staging
Question 6: Pre-foreclosure sale
Answer:
Short Sale
Question 7: A mortgage that can be transferred to another borrower
Answer:
Assumable Mortgage Question 8: An estimate of the value of a property based on an analysis of sales of properties with similar characteristics
Answer:
Competitive Market Analysis
Question 9: Newlyweds, growing families, downsizing
Answer:
Perfect Referrals
Question 10: Creating a win-win situation for all parties
Answer:
Negotiation
Question 11: Programs available for buyers to help with upfront costs
Answer:
Downpayment Assistance Question 12: The price that a piece of property sells for at a particular point in time
Answer:
Market Value
Question 13: Designation recognized by NAR for extensive knowledge in working with distressed properties
Answer:
Short Sale and Foreclosure Resource Question 14: A determination of the value of a property after existing liens are deducted
Answer:
Equity
Question 15: People moving into or out of the area
Answer:
Relocation
Question 16: A market with high inventory and low interest rates
Answer:
Buyers Market Question 17: A gov't backed rehab loan allowing a buyer to finance repairs at the time of purchase
Answer:
203K
Question 18: A home that has been through the foreclosure process
Answer:
REO or Bank Owned
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