Real Estate Practice Questions: Test Your Knowledge | LearnByTeaching.ai

Fee simple absolute represents:

An easement appurtenant:

Under the Fair Housing Act, which of the following is a protected class?

A lien is best described as:

Joint tenancy with right of survivorship means:

Adverse possession allows someone to gain title to property by:

A deed must contain all of the following EXCEPT:

Eminent domain allows the government to:

Title insurance protects against:

A variance in zoning law allows:

In a fixed-rate mortgage, the monthly payment:

An appraisal using the sales comparison approach values property by:

Loan-to-value (LTV) ratio of 80% on a $300,000 home means the loan amount is:

The income capitalization approach determines value by:

Private mortgage insurance (PMI) is required when:

In an amortizing loan, the portion of each payment going to principal:

Depreciation in appraisal includes all of the following types EXCEPT:

The debt service coverage ratio (DSCR) measures:

An adjustable-rate mortgage (ARM) with a 5/1 structure means:

The gross rent multiplier (GRM) is calculated as:

For a real estate contract to be valid, it must include:

Earnest money is best described as:

A buyer's agent has a fiduciary duty to:

A contingency in a purchase contract allows the buyer to:

The Statute of Frauds requires that real estate contracts be:

At closing, the buyer's closing costs typically include all of the following EXCEPT:

A seller's disclosure statement is required in most states to:

A counteroffer:

Escrow in a real estate transaction refers to:

A 1031 exchange allows an investor to:

A property has NOI of $40,000 and was purchased for $500,000. What is the cap rate?

Cash-on-cash return measures:

A property generates $120,000 gross income with a 10% vacancy rate and $40,000 operating expenses. What is the NOI?

Leverage in real estate investing refers to:

A rental property purchased for $200,000 has $15,000 annual cash flow after all expenses and debt service. The cash-on-cash return, assuming a $50,000 down payment, is:

Vacancy rate of 5% on a 20-unit apartment building with $1,000/month rent per unit means annual vacancy loss is:

The internal rate of return (IRR) on a real estate investment:

A property with a 6% cap rate in a market where interest rates are 5% has:

Depreciation for residential rental property is calculated over:

A property's break-even ratio is 85%. This means: