304 North Cardinal St.
Dorchester Center, MA 02124
Q1. A large-scale company producing vegan supplements for the urban population wants a person who can help relocate the business to any other urban location. The company also wants another person who can help in searching other companies regarding financial assistance. Whom does the company need?
Q2. Land surveying becomes easy after dividing the land based on the grid system. Which of the following are the benefits of applying a grid system in state-wide land surveying?
Q3. Person L works as an engineer in a firm. After the completion of five years of service, this individual accumulated a corpus of funds for buying a house. When person L searched for the property around, then this person found that the corpus of funds secured is not sufficient. The colleagues of Mr. L have given references for the financial institutions for funding the new property. When person L approached one of the biggest financial institutions, the firm asked for details about the property. Which one is the most important and inevitable document that needs to be submitted by Person L for assuring the financial institution that the property this individual is buying is safe and under single ownership?
Q4. Individual A got a business idea to start an ice cream shop and invest capital. With the success of the business, individual A bought a piece of land as an asset and enjoyed flexibility in decision making, gave a plot of land to individual B on a rental basis to enjoy rental income. Thus, Individual A created an estate as an owner, and the form of ownership that individual A enjoys is termed as?
Q5. Mr. J wants to transfer one of its lands to his niece A, and Mr. J does not want anything in return from his niece A as Mr. J loves A the most among all his other nieces. What type of deed Mr. J needs to prepare?
Q6. Mr. J retired recently. Mr. J had always dreamt of making a house in the country for which Mr. J spent lifetime earnings and finally bought a piece of land. After one year of the purchase,Mr. J came to know about the already existing lien of $100,000 on the property Mr. J bought. What should Mr. J have created at the time of transfer of title to mitigate such loss?
Q7. If Mr. A, the dealer of a real estate and client Mr. B both have created a document in which the signature appears and is visible to both Mr. A & client Mr. B. This type of signature is the best option. Identify which type of e-sign is this?
Q8. Mr. T wants to purchase a property in the residential area of City M. One wants to investigate the property before purchasing. After visiting the property, Mr.T was satisfied. There are some legal clauses under which One must inspect the property. One should
Q9. Ms. A needs to pay $100,000 to Ms. L. Ms. L asks Ms. A to give a promissory note to her. Ms. A wrote on a promissory note that “I promise to pay Ms. L $100,000 if her father gives the money” without signing. Is the promissory note valid?
Q10. Which of the following is not an advantage of the deed of trust?
Q11. The buyer wants long-maturity debt for the purchase of the properties; the buyer paid the debt at the initial duration or starting years of the loan life. Select the option from the given below which represents the above statement?
Q12. Which of the following does not comes under predatory lending?
Q13. Mr. P borrowed an ample amount of money to purchase a residential property. Mr. P wants to take another loan to repay earlier loan. What kind of facility is this?
Q14. A property was purchased by Mr.X for $700,000 and a down payment of $100,000 with an interest rate of 5%. A mortgage is for $600,000. It is decided between the lender and Mr.X to reduce the interest to 4% and Mr. X agreed that if the value of the property increases, 15% of the increased value will be given to the lender. Identify the type of financing.
Q15. Suppose Mr. B is real estate owner and needs to wellspring of more successive and more point-by-point data. Therefore, one made the yearly personal expense, which is distributed by the internal revenue service. The owner now wants to buy an expense pamphlet for regularly updated charge data. What precautions do the real estate owner need to take while making the charge data?
Q16. The closing is the last stage of the real estate business transactions. Which of the following does not come under the responsibility of the buyer at the time of closing?
Q17. Mr. A and Mr. N form an agreement where both individuals are legally competent and have mutually agreed that Mr. A will manufacture explosives for blasts at the place whose owner is Mr. N. After a certain period of time Mr. A refuses to pay rent then will the law be able to help Mr. N?
Q18. Mr. G is involved in the valuation process of real estate and wants to apply the income approach. In the appraisal process, Mr. G is saying that property tax and income tax needs to be included, but appraiser is of the opinion that these expenses should not include in the appraisal purpose. Whether appraiser is right?
Q19. John is a real estate broker, but Mr.J has not availed any license. Mr.J is of the opinion that Mr.J has knowledge of all necessary things, so there is no need to get the license. Whether the contention of Mr.J is right?
Q20. Mr. R is a real estate broker in Texas. The commission rate prevailing in the market is 3.5 %. But R is charging the commission of 1%. Identify what type of broker this individual is and under that type what is the subtype of his working
Q21. Mr. A is a real estate broker and goes with client Mr.J to show them one house. Mr.Jasks about the walls of the house. A knew that walls are not strong enough, but still, to make the deal, said that walls are very strong. So,Mr.J purchases that house and signs the agreement. After some days, Mr.J started some repairing work in-house, in that Mr.J came to know that walls are not strong, the materials used are of low quality. So, Mr.Jwants to now sue A for this. But Mr. A is of the opinion that the contract is over now A is not liable for anything. Whether the contention of Mr. A is correct?
Q22. Mr. J has property in some states, and individual is living now in some other states. So,individualappoints a real estate broker Mr. Bto sell that property for $ 300,000. The agent was handling this contract, and knew that in the area where the property of Mr. J is located, a big development project government is coming, so the values of property in that area have increased. The property of Mr. Jis now value at $400,000. So,the agentpurchases that property for $300,000 and sale it for $400,000. After knowing the real value of the property, Mr. J wants to file a case against the agent. But the agent is of the opinion that one has not said anything liesor given any wrong information to Mr. J, so agent is not liable. Whether the contention of the agent is correct?
Q23. In a building on the first floor.One flat owner Mr. A from the first-floor thinking of selling the house. One of the real estate agentscame to Mr. A and offered to purchase this flat at a lower value and said value would fall more in coming days. and said that if Mr. Adoes not sell flat now, then the value will decrease substantially in the coming days as the agent said that in the neighbor flat on the first floor one family is coming on rent from another religion and the thus value of house of Mr. A will fall. By hearing this,Mr. A agrees to sell the house at a lower value. What is this practice called?
Q24. The land is subject to changes, modifications over some time, and sometimes not suitable for the previous usage. And those lands are not physically possible to restore to the previous condition. So, this type of land is known as?
Q25. A condominium association consists of a board of members for the maintenance of the condominium buildings. Every owner of the condominium building follows the rules set by the condominium management. Which of the following is not related to the function of condominium management?
Q26. An Individual T is captain of a Country A cricket team, and Individual B is captain of the Country U cricket team. Both captains have used the common playground for their team practices. The properties are used by the residential. Select the concept which describes the above situation.
Q27. Mr. P is the home minister in a country I. Mr. P is made the master plan for the development. Mr. P wants to collect information about the developed and undeveloped land. Mr.P is taking the help of a survey for collecting the information. Which types of survey they used for the master plan.
Q28. In the real estate sector, various forms of inflation deal with their different effects, so which form of inflation gets speedily increased compared to the productive economic activity with the increase of any demand and services in an economy?
Q29. The proliferation of long-run demand for housing is presenting new pathways to the real estate business. In this regard, what is the one factor that buyers consider while considering housing options?
Q30. Since investing in real estate plays a significant role in ascertaining the wide number of interests from the specific property and one of the most widespread methods of investing in the real estate is mortgagereduction. So, what the major result of this particular investing method in real estate is?
I hope this Real Estate Principles Practice Exam Answers would be useful for you to learn something new from this problem. If it helped you then don’t forget to bookmark our site for more Coding Solutions.
This Problem is intended for audiences of all experiences who are interested in learning about Data Science in a business context; there are no prerequisites.
More Coding Solutions >>