FREE REAL ESTATE AND STUDY GAMES ABOUT REAL

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FREE REAL ESTATE AND STUDY GAMES ABOUT REAL

ESTATE GAME EXAM QUESTIONS

Qs and Ans Expert- Explanation

This Exam contains:

-Guarantee passing score -18 Questions and Answers -format set of multiple-choice -Expert- Explanation Question 1: Many buyers think they can't use a Realtor when purchasing a _______

Answer:

New Build

Question 2: One of two 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