Sunday, May 6, 2012

Ch 11 + Ch 12 questions

Vue Her

Ch. 12
True or False
1. Listing broke is a broke who has entered into an agency agreement to market and sell property on behalf of its owner.

True or False
2. Exclusive right to sell relationship is the most common listing or brokerage agency relationship.

3. Which agency grants the broker the right to collect a commission if the property is sold during the listing period unless the owner brings the buyer to the transaction?
                A) Special Agency
                B) Dual Agency
                C) Exclusive Agency
                D) Limited Agency

4. A broker who brings the buyer to the transaction and the broker may or may not actually represent the buyer.
                A) Selling Broker
                B) Listing Broker
                C) Cooperating Broker
                D)Buyer's Broker

5.Which member of the following is NOT a part of the Developer's team:
                A) Subcontractors
                D) Architects

6.What common type of scheduling tool is used in real estate construction?
                A) Gantt Chart
                B) P6 Primavera
                C)Microsoft Excel
                D)Microsoft Project

True or False
7. Market Value is value in use originates from the worth or utility that a property has for a particular individual who uses it.

True or False
8. Value in Exchange is a value in exchange concept generally analogous to market value, it is the most likely transaction price for a parcel of real estate when market conditions are unremarkable.

1. T  2.T  3.C  4.A  5.A  6.A  7.F  8.F

Ch. 11

True or False
1.Building code is a minimum required construction standard used to protect the health and safety of the public.

True or False
2.Mandatory Dedication is the act of a developer yielding ownership of land and improvements to a local municipality.

True or False
3.Assessed Value = Ad Valorem Vale x Assessment Ratio

True or False
4. Ad Valorem Value is the assessor's estimated of a property's market value for taxation purpose.

True or False
5. Special Assessment is an additional tax on a specific property, typical for a service or infrastructure improvement that benefits just one property owner or a defined group of property owners.

6. The assessed value after all applicable exemptions and also used to calculate taxes owed.
                A)Tax Digest
                B) Tax exempt Property
                C)Tax Rate
                D) Taxable Value

7.An appeal to court for zoning relief by a property owner after administrative, legislative, or both types of relief have been denied.
                A)Judicial Change
                B)Assessment Appeal
                C)Mass Valuation
                D)Legislative Change

8. A reduction in a property's assessed value for a specific groups of residents, resulting in a reduction in the property tax liability.
                C)Grandfathered use
                D)Homestead Exemption
1. T  2.F  3.T  4.T  5.T  6.D  7.A  8.B

No comments:

Post a Comment