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CALIFORNIA REAL ESTATE EXAM ACTUAL EXAM 200 QUESTIONS AND CORRECT DETAILED ANSWERS (WITH MULTIPLE CHOICE QUESTIONS AND CORRECT ANSWERS$14.49
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CALIFORNIA REAL ESTATE EXAM 2023-2024
ACTUAL EXAM 200 QUESTIONS AND CORRECT
DETAILED ANSWERS (WITH MULTIPLE CHOICE
QUESTIONS AND CORRECT ANSWERS
Terms in this set (52)
1. You are preparing a D. Sales comparison approach
competitive market
analysis on a vacant lot
that you hope to list for
sale. Which of the
following approaches to
value will be used in the
development of the
estimated value?
A. Cost approach B. Gross
rent multiplier C. Income
approach D. Sales
comparison approach
,2. Which of the following C. A similar home sold by a motivated seller to a
comparables would be motivated buyer.
the most helpful in
appraising a home?
A. A similar home sold for
nonpayment of taxes.
B. A similar property sold
under duress.
C. A similar home sold by
a motivated seller to a
motivated buyer.
D. A similar home sold by
an unwilling seller to an
unsure buyer.
3. The period over which a A. economic life
property may be
profitably utilized is called
its:
A. economic life
B. amortized life
C. income life
D. net life
4. Wear and tear to the D. physical deterioration-incurable
load bearing members of
a building would be
classified as:
A. functional
obsolescence-curable
B. physical deterioration-
curable
C. functional
obsolescence-incurable
D. physical deterioration-
incurable
, 5. While the economy is C. rise and housing prices rise
experiencing inflation,
interest rates:
A. drop and housing
prices rise
B. rise and housing prices
drop
C. rise and housing prices
rise
D. None of the above
6. When using the market- the entire property
data approach to appraise
a single-family home,
recent sales are compared
to the subject property as
to:
A. capitalization rates
B. exterior features only
C. the entire property
D. rental income
7. A real estate selling price
commission is usually
based on the:
A. listing price
B. selling price
C. down payment
D. loan amount
8. The increase of value appreciation
with the passage of time
describes: A. appreciation
B. "return on" investment
C. "return of" investment
D. depreciation
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