63 Hour Pre Sales Videos - Unit 1 Quiz - Rowlett Real Estate School

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Question 1 of 15

1. Question
A developer acquires a tract of land that he divides into 25 homesites. Before marketing the homesites, the developer must submit the subdivision plat to the?
- Department of Housing and Urban Development.
- Local governmental planning agency.
- Florida Real Estate Commission.
- Florida Real Estate Commission.local building code enforcement department.
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Question 2 of 15

2. Question
The term follow-up refers to?
- Returning calls in a timely manner.
- Completing instructions given by one's broker.
- Following through on listing calls made to for sale by owners.
- What a sales associate does for buyers and after the sale.
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Question 3 of 15

3. Question
Even though certain exceptions apply; an active real estate licensee is legally entitled to appraise real property for compensation concerning a non-federally related transaction?
- As long as she does not represent herself as a state-certified or licensed appraiser and complies with the USPAP.
- Only if the appraisal is called a comparative market analysis.
- Provided the compensation is based on a commission agreed on before the appraisal work is done.
- Provided a licensed or certified appraiser signs the appraisal report.
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Question 4 of 15

4. Question
The field of property management has experienced growth and specialization primarily because of?
- The deregulation of the real estate industry.
- The increase in the number of licensees specializing in property management.
- The increase in the number of absentee owners.
- Higher construction costs that have caused an increase in the number of renters.
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Question 5 of 15

5. Question
Real estate licensees must comply with the Uniform Standards of Professional Appraisal Practice (USPAP) when conducting which value estimates?
- Appraisals
- Broker price opinions
- Comparative market analyses
- Real estate licensees are exempt from the provisions of USPAP
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Question 6 of 15

6. Question
Appraisers are paid a fee because?
- To accept compensation based on the appraised value is a conflict of interest.
- Custom dictates the method of compensation.
- The fee would be too high if it were based on a percentage of property value.
- Only brokers and sales associates are paid commissions for their services.
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Question 7 of 15

7. Question
The five major sales specialties do NOT include?
- Agricultural
- Special use
- Commercial
- Businesses
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Question 8 of 15

8. Question
The real estate activity that is devoted to leasing, managing, marketing, and overall maintenance of property for others is called?
- Commercial sales
- Property management
- Counseling
- Rental agents
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Question 9 of 15

9. Question
Which type of construction involves building to a buyer’s specifications?
- Tract homes
- Spec homes
- Custom homes
- Model homes
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Question 10 of 15

10. Question
The term dedication as it applies to development and construction refers to?
- A gift of land by the owner to the local government for a public use
- The builder's careful attention to construction details
- Recording a subdivision plat map in the public records
- Preparing raw land for site improvements
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Question 11 of 15

11. Question
What type of license is required to sell or lease business opportunities for another person?
- Business broker license
- Business opportunity broker license
- Real estate license
- None required, unless a building is being sold with the business
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Question 12 of 15

12. Question
Selecting a limited geographical area in which a real estate professional develops special expertise is?
- Dedicating land
- Subdividing
- Farming
- Follow-up
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Question 13 of 15

13. Question
Managing which type of property of more than 10 units requires a CAM license?
- Apartment building
- Commercial property
- Business complex
- Condominium complex
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Question 14 of 15

14. Question
Effective advertising involving developing a database of prospects to direct a specific message is called?
- Institutional advertising
- Computer efficiency
- Target marketing
- Merchandizing
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Question 15 of 15

15. Question
A broker charges a prospective seller $50 for a comparative market analysis (CMA). Which statement applies?
- Brokers are not permitted to charge for CMAs
- This is permissible, provided the broker does not represent the CMA as an appraisal
- The broker must be a state-certified or licensed appraiser to do this
- The CMA must be signed by a state-certified or licensed appraiser
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63 Hour Pre Sales Videos – Unit 1 Quiz

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