1. What
is the correct definition of real property?
A) The
legally recognized right associated with the ownership of real estate.
B) The
purchase of real estate motivated by the potential for financial gain.
C) How
quickly a transaction prices with in a market reflect relevant market information.
D) Both
A and B
2. Which
one of the following characteristics does not contribute to an inefficient market?
A)
Stratified product type
B)
Heterogeneous
C)
Real estate investment analysis
D)
Data poverty
3. What
is at the center of the real estate system of activities?
A) Investing
activity
B) Governing
activity
C) Entrepreneurial
activity
D) Lending
activity
4. A developer is an entrepreneur whose expertise
is used to gather necessary factors of production to create real estate for
human needs.
A) True
B) False
5. Sequential
bidding is one characteristic of real estate inefficiency.
A) True
B) False
6. Government
activity is part of the real estate system of markets.
A) True
B) False
7. An
underwriter is a real estate professional who specializes in assessing the risk
associated with real estate loans.
A) True
B) False
8. A
real estate market has one specific physical location.
A) True
B) False
1)A,
2)C, 3)C, 4)A, 5)A, 6)A, 7)A, 8)BC
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