Texas Principles of Real Estate II Questions & Answers(RATED A+)
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Course
Texas Principles of Real Estate II
Institution
Texas Principles Of Real Estate II
What ratio is calculated based on all of the monthly obligations the borrower has outstanding? - ANSWER Debt ratio
A parcel of property is 609,840 sq ft, how many acres are in the parcel? - ANSWER 14 acres
Convert fractions to decimals when doing a real estate math problem by: - ANSWER Div...
Texas Principles of Real Estate
II Questions &
Answers(RATED A+)
What ratio is calculated based on all of the monthly obligations the borrower has outstanding? -
ANSWER Debt ratio
A parcel of property is 609,840 sq ft, how many acres are in the parcel? - ANSWER 14 acres
Convert fractions to decimals when doing a real estate math problem by: - ANSWER Dividing the
numerator by the denominator
Which of the following must be prorated or divided proportionately between the buyer and the
seller? - ANSWER Taxes, insurance and utilities (All of the above)
Utilities are paid in arrears. Therefore the buyer will end up paying a portion of the seller's bill since
the buyer will get the entire bill at months end. On the closing statement, this will appear as a: -
ANSWER Credit to the buyer and debit to the seller
If a broker sells a property for $450,000 and makes $36,000 what is the rate of commission? -
ANSWER 8%
Common closing items such as taxes, utilities, mortgage interest, and insurance are divided equally at
closing between the buyer and seller. These items are being: - ANSWER Prorated
A Licensed Residential Appraiser must: - ANSWER Provide 1,000 hours of acceptable and verifiable -
real estate - appraisal experience.
To become a Certified General Real Estate Appraiser, the applicant must - ANSWER Pass the
approved state-certifies general appraiser examination.
, Appraisals are done to determine: - ANSWER value
What is the major component of the total property value that does not depreciate? - ANSWER The
land value
Broker Jim sold a home for $225,500 at a commission rate of 7%. What will Jim's commission be? -
ANSWER $15,785.00
A parcel of land that is 250 feet wide and 200 feet deep and sold for $280,000 had a price per square
ft of? - ANSWER $5.60
The appraisal process is: - ANSWER an ordered procedure
The cost approach would be most reliable for which of these properties? - ANSWER County court
houses
Tim and Sue have a the smallest house in a sought after neighborhood. The value of their hike is
increased because of the higher value of the other homes in the neighborhood. This is an example of
what principle? - ANSWER Progression
The income capitalization approach, or income approach is more specifically used for appraising: -
ANSWER Income rental properties
What is the last step in completing a CMA? - ANSWER Estimate a reasonable and realistic selling
price for the seller's property?
To what home features do extra insulation, double or triple panes windows or hot water heaters
refer? - ANSWER Energy efficiency
When performing a CMA, if a comparable has a feature that the seller's property does not have, the
licensee will: - ANSWER subtract the value of that feature from the price of the comparable
Which is NOT one of the several factors that determine the value of a home? - ANSWER The racial
makeup of the neighborhood
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