ASREB Practice Exam, Sessions 1-18, Study Guide; Questions and Answers 100% Verified
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Course
ASREB
Institution
ASREB
ASREB Practice Exam, Sessions 1-18, Study Guide;
Questions and Answers 100% Verified
ASREB AnswerA 3.45-acre lot sells for 50 cents per square foot. What is the selling price?
A) $37,570
B) $75,141
C) $76,230
D) $78,712 Answer-B
3.45 acres x 43,560 = 150,282 SF
150,282 SF x $0.50 = $75,1...
ASREB Practice Exam, Sessions 1-18, Study Guide;
Questions and Answers 100% Verified
ASREB Answer-
A 3.45-acre lot sells for 50 cents per square foot. What is the selling price?
A) $37,570
B) $75,141
C) $76,230
D) $78,712 Answer-B
3.45 acres x 43,560 = 150,282 SF
150,282 SF x $0.50 = $75,141
A blind ad refers to an ad that
A) provides no price.
B) provides no address.
C) gives no indication that the property is listed with a broker.
D) gives no indication that the property has bene sold or not. Answer-C
A borrower is required to put 10% down for the purchase of a property. The 10% down would
be considered
, ASREB Practice Exam, Sessions 1-18, Study Guide;
Questions and Answers 100% Verified
A) equity.
B) boot.
C) tax shelter.
D) leverage. Answer-A
A broker, acting as a property manager, would be what type of agent?
A) special
B) general
C) implied
D) ostensible Answer-B
A buyer pays 20% down and obtains a real estate mortgage. The buyer makes no further
payments. What clause would the lender now exercise?
A) alienation
B) habendum
C) novation
D) acceleration Answer-D
, ASREB Practice Exam, Sessions 1-18, Study Guide;
Questions and Answers 100% Verified
When a new home is still under construction, the County Assessor may
A) increase the assessed value ration.
B) increase the full cash value.
C) decrease the tax rate.
D) appeal the limited property value. Answer-B
A contract has been signed, but title has not yet been passed. The contract is
A) executed.
B) executory.
C) recorded
D) estopped. Answer-B
A handicapped person is leasing a house that requires modification. Which of the following is
TRUE about the modification?
A) The lessor may forbid handicapped modifications.
B) The lessor can require the lessee to reasonably restore the property at the end of the lease.
C) The lessor must pay for the modifications.
D) The lessor can increase the rent due to the risk of the handicapped person. Answer-B
, ASREB Practice Exam, Sessions 1-18, Study Guide;
Questions and Answers 100% Verified
A holdover tenant would have a(n)
A) estate at sufferance.
B) estate at well.
C) freehold estate.
D) remainder estate. Answer-A
Which of these property classifications is used for vacant land?
A) Class 1
B) Class 2
C) Class 3
D) Class 4 Answer-B
A house costs $100,000. The buyer is making a down payment of $32,000 and getting a $68,000
loan. If there are 4 points, how much money will be paid out of the closing for the points?
A) $400
B) $1,280
C) $2,720
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