Real Estate Basics Quiz

What does it mean when no two parcels can occupy the same space on the face of the earth?

What factor does not directly influence the value of real property?

Which term best defines the amount of money used to compensate the seller in a real estate transaction?

What is referred to as a cash-equivalent price in real estate?

Which statement is incorrect regarding the supply of one-unit residential properties?

What economic factor is likely to increase the supply of residential properties?

Which of the following describes a potential consequence of changes in local building codes?

How does police power relate to real estate?

If a fire station appraised at $2.5 million aligns with the market value, what does it represent?

What is investment value best defined as?

What statement best describes market value?

Which of the following best characterizes market capitalization rate?

If the market capitalization rate is 10% and Dennis's overall capitalization rate is 12%, what can we infer?

Which of these is NOT a factor that influences market value?

Which type of value relies heavily on a property's use in economic terms?

How are similar-sized commercial buildings appraised in terms of market value?

What does PITI stand for in mortgage calculations?

Which of the following best describes macro-level data?

Which type of household description includes all persons, related or unrelated, occupying a housing unit?

For mortgage approval, what should be considered when comparing buyers’ income?

Which factor is significant for a property to be valued over $100,000 in the market?

What is NOT included in any calculation or consideration in the mortgage approval process?

How is household data best categorized in appraisal contexts?

If a new factory opens and hires several hundred new employees, how does this impact property valuation?

What is the mortgage amount after putting down 20% on a one-unit home priced at $200,000?

How much do the points cost when purchasing a one-unit home for $200,000 with a 25% down payment and a charge of three points?

What is the equity you have if your first mortgage is $150,000 and your second mortgage is $70,000 on a property valued at $200,000?

Which institution has historically dominated the secondary mortgage market?

What is the primary purpose of a mortgage document?

If a mortgage has a 5% annual interest rate with quarterly payments, what would the effective interest rate be?

What does the secondary mortgage market encompass?

Which of the following is NOT a feature of a mortgage?

Which of the following is considered a type of neighborhood characterized by one predominant land use?

What term describes the various complementary land uses found in a region?

Which factor is NOT typically considered when assessing changes in property use?

In real estate appraisal, which of the following can indicate signs of neighborhood decline?

Which type of area is defined as the geographic location from which a retail center draws its customers?

Which of the following best describes construction cost increases?

What is the term used for the ongoing process of areas experiencing revitalization?

Which would NOT indicate a stable neighborhood?