Chapter 1 - NCRE

Descripción

Chapter 1 of the NCRE Training
LeShaun McKenzie
Test por LeShaun McKenzie, actualizado hace más de 1 año
LeShaun McKenzie
Creado por LeShaun McKenzie hace más de 4 años
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Resumen del Recurso

Pregunta 1

Pregunta
All of the following are separable ownerships in land EXCEPT:
Respuesta
  • surface of the land.
  • area below the surface.
  • nonhomogeneity.
  • air rights.

Pregunta 2

Pregunta
The characteristic of land that causes the real estate market to be essentially a local market is the physical characteristic of:
Respuesta
  • indestructibility.
  • immobility.
  • availability.
  • natural features.

Pregunta 3

Pregunta
The nonhomogeneity of land:
Respuesta
  • is the basis for the legal remedy of specific performance.
  • results from the uniqueness of every parcel of real estate.
  • is a physical characteristic of land.
  • all of the above.

Pregunta 4

Pregunta
An increase in the economic supply of land has resulted from:
Respuesta
  • increased utilization of the physical supply of land.
  • modification by improvements to the land.
  • high-density development.
  • all of the above.

Pregunta 5

Pregunta
The quality of the location of land and, consequently, the value of the land can be changed by:
Respuesta
  • the principle of nonhomogeneity.
  • relocation of the land.
  • changes in the national scope of the real estate business.
  • improvements to the land that result in accessibility not previously available.

Pregunta 6

Pregunta
The employment of the concept of highest and best use:
Respuesta
  • includes consideration of the physical and economic factors affecting land use.
  • results in the greatest present value of the land.
  • must be a use feasible in the near future.
  • all of the above.

Pregunta 7

Pregunta
An example of public land use controls is:
Respuesta
  • restrictive covenants.
  • zoning laws.
  • deed restrictions.
  • protective covenants.

Pregunta 8

Pregunta
Real estate investment offers the opportunity to produce a profit in the following ways EXCEPT:
Respuesta
  • appreciation.
  • positive cash flow.
  • specific performance.
  • tax advantages.

Pregunta 9

Pregunta
The real estate market may be described in all the following ways EXCEPT:
Respuesta
  • a free market.
  • a local market.
  • a movable market.
  • a market that is slow to react to changes in supply and demand.

Pregunta 10

Pregunta
The function of a real estate agent in dealings with buyers and sellers in the real estate market may best be described as which of the following?
Respuesta
  • financier
  • counselor or advisor
  • contractor
  • salesperson

Pregunta 11

Pregunta
The real estate agent must have specialized knowledge of a variety of subjects that include all of the following EXCEPT:
Respuesta
  • financing.
  • contracts.
  • legal advice.
  • valuation of property.

Pregunta 12

Pregunta
Economic characteristics of real property include which of the following?
Respuesta
  • location
  • immobility
  • indestructibility
  • nonhomogeneity

Pregunta 13

Pregunta
Which of the following has the greatest effect on real property value?
Respuesta
  • tax rates
  • location
  • availability
  • indestructibility

Pregunta 14

Pregunta
Which of the following is an example of the private control of land use?
Respuesta
  • zoning
  • restrictive covenants
  • building codes
  • environmental controls

Pregunta 15

Pregunta
The term REALTOR® designates:
Respuesta
  • any real estate licensee.
  • a real estate licensee who is a member of the national, state, and local association of REALTORS®.
  • only licensees who hold broker’s licenses.
  • all of the above.

Pregunta 16

Pregunta
Physical characteristics of land include all of the following EXCEPT:
Respuesta
  • location.
  • nonhomogeneity.
  • permanence.
  • immobility.

Pregunta 17

Pregunta
The National Association of REALTORS® is:
Respuesta
  • a government organization.
  • a trade group.
  • an organization for buyers and sellers of commercial real estate.
  • all of the above.

Pregunta 18

Pregunta
Factors affecting supply and demand in real estate include all of these items EXCEPT:
Respuesta
  • government regulations.
  • interest rates.
  • local economic conditions.
  • real estate investment trusts.

Pregunta 19

Pregunta
Scarcity and location are examples of:
Respuesta
  • physical characteristics of the land.
  • highest and best use.
  • permanence of investment.
  • economic characteristics of the land.

Pregunta 20

Pregunta
All of the following are public land use restrictions EXCEPT:
Respuesta
  • building codes.
  • protective covenants.
  • zoning.
  • regional planning.
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