Sunday, September 1, 2013
Chapter 1: An Introduction to Environments and Activities in Real Estate
1) Which term describes little relevant transaction information on a property?
b) Stratified Product
c) Data Poverty
2) A process of bidding that are characterized by discrete offers, they are usually received by the seller one at a time.
a) Proprietary transaction
c) Sequential bidding
3) Creating a mortgage by lending money to a real estate borrower is called an:
5) Heterogeneous products are said to be individual parcels of Real Estate that are unique.
6) A property manager is a real estate professional who manages day-to-day operations of real estate
7) An Appraiser usually works as an independent contractor, who charges for a fee in order to provide specific advice.
8) Tax assessors work for a government tax authority, who estimates value of property for tax purposes.
1) c, 2) c, 3) a, 4) False, 5) True, 6) True, 7) False, 8) True