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AYPO Real Estate Principles of Real Estate II Exam Study Guide questions & answers.
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AYPO Real Estate Principles of RealEstate II Exam Study Guide questions &
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) ANS - 270 square feet
An applicant is allowed to use what electronic devices during the real estate exam? ANS - Hand-held
calculator
Convert the following fraction to a decimal for ease of computation: 31/25 ANS - 1.24
What is the general formula to determine Capital Gain? ANS - 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) ANS - $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? ANS - $784.87
What is the basic formula for determining the proration of fees? ANS - 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? ANS - 4450 ft2
, How many hours must an applicant provide that are acceptable and verifiable appraisal experience
acquired over a minimum of 12 months? ANS - 1,500 hours
What is functional obsolescence? ANS - 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?
ANS - 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? ANS - 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? ANS - Cost approach.
A CMA is what? ANS - Comparative Market Analysis
What are fees paid to the lender to compensate the loan company or bank for evaluating, processing,
and approving a mortgage? ANS - Origination points.
A privately run, for-profit financial institution that provides a number of services including mortgage
lending is a... ANS - Bank.
ANS -
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? ANS -
Flexible payment plan.
What is a federal program run by the U.S. Department of the Treasury which is intended help
homeowners avoid foreclosure? ANS - The Making Home Affordable Program.
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