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AYPO Real Estate Principles of Real Estate II Exam Study Guide questions with correct answers
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AYPO Real Estate Principles of Real Estate II Exam Study Guide questions with correct answers
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AYPO Real Estate Principles of Real Estate II ExamStudy Guide questions with correct answers
If the base side of a triangular plot measures 45' and the height line
measures 12', what is the area of the plot in square feet?([b x h] x ½ = A)
Correct Answer-270 square feet
An applicant is allowed to use what electronic devices during the real
estate exam? Correct Answer-Hand-held calculator
Convert the following fraction to a decimal for ease of computation:
31/25 Correct Answer-1.24
What is the general formula to determine Capital Gain? Correct Answer-
Profit from Sale - Base Value = Capital Gain
A property owner borrows $490,000 at a 12% interest rate. How much
interest accumulates in the first year?(Interest Rate = Interest / Principle)
Correct Answer-$58,800
A property owner has a 20-year mortgage that is worth $97,500 with a
7.5% annual interest rate. What does the property owner pay in
mortgage payments every month? Correct Answer-$784.87
What is the basic formula for determining the proration of fees? Correct
Answer-Tax or Fee Rate x Remaining Days or Months = Tax or Fee
Owed
,A house has 3 distinct rectangular shapes:
A=20'x30'
B=10'x10'
C=75'x50'
What is the square footage total? Correct Answer-4450 ft2
How many hours must an applicant provide that are acceptable and
verifiable appraisal experience acquired over a minimum of 12 months?
Correct Answer-1,500 hours
What is functional obsolescence? Correct Answer-The loss of property
value due to qualities of the property that cannot be easily changed
What is the most probable price which a property should bring in a
competitive and open market under all conditions requisite to a fair sale,
the buyer and seller each acting prudently and knowledgeably? Correct
Answer-Market value
Which of the following objective value means the value of a piece of
property will rise or fall because of a future benefit or a future
complication? Correct Answer-Anticipation
Replacement cost, or the dollar amount it would cost to construct at
current prices a structure that is not exactly the same is in which type of
appraisal? Correct Answer-Cost approach.
, A CMA is what? Correct Answer-Comparative Market Analysis
What are fees paid to the lender to compensate the loan company or
bank for evaluating, processing, and approving a mortgage? Correct
Answer-Origination points.
A privately run, for-profit financial institution that provides a number of
services including mortgage lending is a... Correct Answer-Bank.
Correct Answer-
In which type of payment plan does the borrower pay a lesser amount
for the first years of the plan, often scheduled at five years, and then a
higher monthly amount in the last portion of the loan? Correct Answer-
Flexible payment plan.
What is a federal program run by the U.S. Department of the Treasury
which is intended help homeowners avoid foreclosure? Correct Answer-
The Making Home Affordable Program.
Which of the following is a VLB qualifying requirement? Correct
Answer-The home must remain as the veteran's primary residence for at
least three years
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