CE Shop KY Course Final Exam; Questions and Answer (A+)
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CE Shop Course
CE Shop KY Course Final Exam; Questions and
Answer (A+)
An appraiser will identify the general and specific data needed for an appraisal.
What will
determine the type of additional data needed? The type of property
Which of the following is a true statement regarding new construction
prope...
CE Shop KY Course Final Exam; Questions and
Answer (A+)
An appraiser will identify the general and specific data needed for an appraisal.
What will
determine the type of additional data needed? ✔✔The type of property
Which of the following is a true statement regarding new construction
properties? ✔✔Both
home inspections and title insurance are recommended.
Under which type of buyer agency agreement does a buyer receive the most
representation from
a single agent? ✔✔Exclusive right to represent
When a local planning board is reviewing density, it would consider ______.
✔✔Setbacks and
boundaries
Which of the following statements about net listings in Kentucky is true?
✔✔They're illegal.
, CE Shop KY Course Final Exam; Questions and
Answer (A+)
Which document provides an estimate of the costs a buyer is likely to pay at
settlement?
✔✔Loan Estimate
The Johnsons are shopping for a mortgage loan and are attracted to the below-
market interest
rate offered for the first year of an adjustable rate mortgage. What's this type of
rate called?
✔✔Teaser rate
Which of the following, based on the abstract of title, is used to create the title
commitment
before title insurance is issued? ✔✔An attorney opinion of title
Which of the following best describes market price? ✔✔The amount that a
buyer has paid, and a
seller has accepted for a property.
, CE Shop KY Course Final Exam; Questions and
Answer (A+)
Property ownership for an indeterminable length of time is an example of what
form of estate?
✔✔Freehold
What size trade areas do neighborhood shopping centers have? ✔✔Three-mile
The appraiser applies a capitalization rate to an income comparison of similar
properties with
which of the four methods used to measure depreciation? ✔✔Capitalized value
In most transactions involving a buyer or seller, real estate agents have limited
authority to act on
behalf of their clients. Therefore, which type of agency relationship are they in?
✔✔Special
Jillian has a loan-to-value ratio of 90/10. This means ______. ✔✔Her loan is 90%
of the value of
the real estate used as collateral and she's putting 10% down.
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