Real Estate Exam 1 Review

Real Estate Exam 1 Review

9th - 12th Grade

15 Qs

quiz-placeholder

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Real Estate Exam 1 Review

Real Estate Exam 1 Review

Assessment

Quiz

Education

9th - 12th Grade

Medium

Created by

Rio Polidori

Used 56+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens to the price of an item when an item is in high demand but the supply is low?

Price increases

Price decreases

Price remains the same

The item becomes free

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is an improvement to a parcel of land? (It is NOT sidewalks/streets)

Existing landscape

Sidewalks and streets

Mineral rights

Water rights

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do you get when land increases over a period of time?

Equity

Liability

Principal

Asset

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What conveys or gives interest and is tangible evidence of one's ownership of a piece of real property?

Deed

Will

Title

Conveyance

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the difference between the value of the property and the amount owed on the mortgage?

Equity

Liability

Principal

Asset

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How many years are the most popular fixed-rate home loans amortized over?

15 or 30 years

5 or 10 years

25 years

40 or 50 years

7.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

What are the TWO advantages of homeownership? (pick two)

Accumulation of equity

Tax benefits

Repair maintenance

Mobility opportunity

Market recession

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