Quiz Summary
0 of 25 Questions completed
Questions:
Information
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading…
You must sign in or sign up to start the quiz.
You must first complete the following:
Results
Results
0 of 25 Questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 point(s), (0)
Earned Point(s): 0 of 0, (0)
0 Essay(s) Pending (Possible Point(s): 0)
Categories
 Not categorized 0%
 1
 2
 3
 4
 5
 6
 7
 8
 9
 10
 11
 12
 13
 14
 15
 16
 17
 18
 19
 20
 21
 22
 23
 24
 25
 Current
 Review
 Answered
 Correct
 Incorrect

Question 1 of 25
1. Question
Ben sold two parcels of land for $9,775 which was 15% higher than their cost four years ago. While Ben owned the parcels, he paid taxes each year at a rate of $7.00 per $100 on an assessed value of 30% of the purchase price. Assuming an annual loss of 4% imputed interest on Ben’s original investment as an expense, how much did Ben lose on the transaction?
CorrectIncorrect 
Question 2 of 25
2. Question
How many acres are in the S 1/4 of the SE 1/4 of Section 10 and the N 1/2 of the NW 1/2 of Section 3 and the N 1/2 of the NE 1/4 of Section 16?
CorrectIncorrect 
Question 3 of 25
3. Question
A house fronts on two roads running at right angles to each other. The house touches one road for 2,660 feet and on the second road for 1,980 feet. Another property line is parallel to the shorter of the two roads and runs for 2,660 feet. The final boundary is a straight line connecting the open ends. How many acres does the property contain?
CorrectIncorrect 
Question 4 of 25
4. Question
Ned, a salesperson working for Broker George, received a 45% share of a 8% commission. His share came to $9,000. What was the selling price of the property?
CorrectIncorrect 
Question 5 of 25
5. Question
Dave financed a $120,000 home with an 80% first mortgage from his local credit union, a 10% second mortgage from the seller and a 10% down payment. The seller offered terms of 9.5% INTEREST ONLY on the second mortgage. What are Johnson’s monthly payments on the second mortgage?
CorrectIncorrect 
Question 6 of 25
6. Question
The net income of an apartment building went down $200 per month when a freeway was built nearby. If investors demand a 10% capitalization rate for this area, how much has the building lost in value?
CorrectIncorrect 
Question 7 of 25
7. Question
How many square feet of cement would be needed for a 7foot wide continual sidewalk around the outside edge of a 60 foot by 90 foot corner lot?
CorrectIncorrect 
Question 8 of 25
8. Question
Ted paid $85,000 for a house, putting up a 15% cash down payment and borrowing the balance at 8.5% interest. The loan is payable over 30 years with monthly payments of $560, including principal and interest. If Ted makes the payments as scheduled, the percentage that the original cost of the house increased because of the use of credit is?
CorrectIncorrect 
Question 9 of 25
9. Question
Rita Morgan has $86,576 left on her 8.5% mortgage. Her monthly payment is set at $852.56 for principal and interest (she pays her own taxes and insurance). How much of her next payment will go to reduce the principal?
CorrectIncorrect 
Question 10 of 25
10. Question
A lender is providing 90% of the financing for a new house. If the house appraises for $75,000, what is the buyer’s down payment?
CorrectIncorrect 
Question 11 of 25
11. Question
Investors want to build an apartment house which will have a gross income of $3,000 per month and annual expenses of $7,000. The investors require a 8% capitalization rate on the investment. If the improvements cost $175,000, how much can the investors pay for the land?
CorrectIncorrect 
Question 12 of 25
12. Question
An apartment has total operating expenses of $75,000 a year and income of $750 a month for each of its 15 units. If an investor wants a 12% return on his money, what is the value of this property to him?
CorrectIncorrect 
Question 13 of 25
13. Question
Steve sold his home which had no loans against it. He received a settlement check from escrow for the amount of $96,400 after paying escrow fees of $1,365.00 plus a 6% real estate broker’s commission. What was the selling price?
CorrectIncorrect 
Question 14 of 25
14. Question
If a person borrowed $10,000 on a straight note and paid $50 interest every 90 days, what would be the interest rate?
CorrectIncorrect 
Question 15 of 25
15. Question
The Hatchers have a gross income of $60,000. The lender wants them to spend no more than 28% of their income on their housing expenses. A house they can buy for $240,000 has $2,400 in annual property taxes. Homeowners insurance would cost about $400 a year. At today’s interest rates, monthly payments would be $6.65 per $1,000 borrowed on a 30year mortgage. What is the smallest amount they can expect to spend for a cash down payment?
CorrectIncorrect 
Question 16 of 25
16. Question
Jessie Petersen makes a written offer to buy Sam Lewis’s house for $120,000. She confides in Sam’s agent, George Smith, that if necessary she’d pay $10,000 more, but she doesn’t want Sam to know that. George should:
CorrectIncorrect 
Question 17 of 25
17. Question
Bob took a listing providing for a 6% commission on the sales price of $210,000. Sue made an offer at the listed price, but did not complete the transaction. The seller declared a forfeiture of the 5% deposit. A provision in the deposit receipt provides that the broker will receive half of the buyer’s deposit in the event of the buyer’s default. Under these circumstances, the broker is entitled to:
CorrectIncorrect 
Question 18 of 25
18. Question
A homeowner has a balance of $149,570.75 remaining on the mortgage. The interest rate is 9.5% and the monthly payment is $1,303.55. After the next two payments, the balance will be:
CorrectIncorrect 
Question 19 of 25
19. Question
In order to be able to earn $90.00 per month from an investment that yields a 6% return, you must invest?
CorrectIncorrect 
Question 20 of 25
20. Question
Lot “X” is an acre. Lot “Z” is 2/3 of the size of lot “X.” Lot Z was purchased for $16,000. The two lots were divided into as many parcels as possible, all measuring 110′ by 82.5′ each. Each parcel was sold for $6,500. The total selling price was 25% profit on the original investment. What was the purchase price of lot “X?”
CorrectIncorrect 
Question 21 of 25
21. Question
Kevin Holstead, the owner of a commercial building, estimates the depreciation of the physical plant at $15,000, the furniture and fixtures at $8,000, and the machinery at $7,500. If he is in the 40% bracket, his tax savings would be:
CorrectIncorrect 
Question 22 of 25
22. Question
Steve bought a piece of property for 25% less than the listed price. He later sold it for the listed price. His gain was:
CorrectIncorrect 
Question 23 of 25
23. Question
Property “A” has a monthly gross income of $500. Property “B” has a monthly gross income of $900. Using a monthly gross multiplier of 120 and calculating the difference in value between the two properties, the result would be:
CorrectIncorrect 
Question 24 of 25
24. Question
What is the salesperson’s 45% of a 6% commission on a $31,000 sale?
CorrectIncorrect 
Question 25 of 25
25. Question
A loan was made for $14,000 at an interest rate of 6% per year for a 20year period. The total interest that would be paid over the entire loan period if the monthly payment for this fully amortized loan is $7.17 per $1,000, would be approximately:
CorrectIncorrect