CE FINAL EXAM RE 2024-2025, THE CE
SHOP TEST, REAL ESTATE FINAL
EXAM 340 QUESTIONS AND
VERIFIED ANSWERS. ALREADY
GRADED A+
1. ______ is a process in which an appraiser determines a probable range of
values for a property by comparing a group of comparable sales to the
subject. The appraiser attempts to include both superior and inferior
units of comparison, such as age, transaction price, etc.
Bracketing
Bridging
Substituting
Surrounding: Bracketing
2. The number of properties available describes this factor that influences
value.
Demand
Scarcity
Transferability
Utility: Scarcity
,Related to demand, and reflects the supply of property, or lack thereof.
3. Which of the following statements about agents and the duty of
obedience is true?
An agent can ignore a client's instructions if they negatively affect the agent's
commission.
An agent should carry out the client's instructions as long as they are within
the law.
An agent should never question a client's instructions.
The duty of obedience extends beyond the termination of the agency
agreement.: An agent should carry out the client's instructions as long as they are
within the law.
4. Carson is purchasing a $600,000 property by obtaining an 80/20 loan.
How much is Carson financing?
$120,000
$420,000
$480,000
$600,000: $480,000
5. Appraiser Niles uses ______ to determine a range of values based on
comparing a subject property to comparable sales. He makes sure to use
some comparables that lack features of his subject property, and others
that have even more desirable features, to balance out the comparison.
Bracketing
Competition
,Correlation
Substituting: Bracketing
6. What does REO stand for?
Real estate office
Real estate owned
Rental equality ownership
Rental equal opportunity: Real estate owned
7. What does the rectangular government survey system use as the basis for
legal descriptions?
Principal meridians, base lines, and sections
Reference to a subdivision plat
Reference to degrees latitude and longitude
The beginning point of a boundary line as identified by a surveyor: Principal
meridians, base lines, and sections
8. Which entity ensures that contractors perform their work according to
code by inspecting their job sites?
City hall
The attorney general
The building department
The secretary of state: The building department
9. Randi is a licensee who would like to update her advertising. What must
she be sure to include on any advertising listed with her or any other
brokerage?
, Brokerage name
Fax number
Franchise logo
Personal photo: Brokerage name
10. Seller Randy signed a listing agreement with Barbara, who worked very
hard to find him a buyer. Randy's cousin decided to purchase the house
during the listing period. Is Barbara owed a commission?
No, because sellers don't have to pay a commission if a relative purchases the
property.
Yes, because Randy is not a licensee.
Yes, because she worked hard for Randy.
Yes, if she has an exclusive right-to-sell agreement.: Yes, if she has an
exclusive right-to-sell agreement.
11. Mario doesn't want to include a religious preference in his listing ad, so
which of the following phrases should he use?
Apartment available for members of attached temple
Close to Catholic cathedral
Jewish community
Within walking distance to a mosque: Apartment available for members of
attached temple
12. Homeowners can take several actions related to pest infestations, but
which of the following actions should be left to licensed pest management
professionals?
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