Which of these is responsible for administering the Comprehensive
Which of these is responsible for administering the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA)?
A. |
The EPA |
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B. |
Fannie Mae |
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C. |
HUD |
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D. |
The Federal Reserve |
Which of these is the byproduct of fuel combustion that may result in death if such combustion equipment is not properly vented.
A. |
Carbon monoxide |
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B. |
Radon |
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C. |
Lead |
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D. |
Oxygen |
Which of these has been proven to pose a health hazard?
A. |
Asbestos |
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B. |
Lead-based paint |
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C. |
Radon |
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D. |
All of the above |
A plat map is BEST described as
A. |
a detailed map that illustrates landscape preferences |
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B. |
a detailed map that illustrates the geographic boundaries of individual lots. |
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C. |
a detailed map that illustrates where a variance might be allowed |
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D. |
none of the above |
All of these are roles of the Federal Reserve System EXCEPT
A. |
help conteract inflationary trends |
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B. |
make direct loans to buyers |
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C. |
create a favorable economic climate |
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D. |
maintain sound credit conditions |
QUESTION 48
1. A package loan includes
A. |
multiple parcels or lots |
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B. |
real and personal property |
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C. |
private mortgage insurance |
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D. |
cash for the construction of improvements on real estate |
A man goes all over the country buying large tracts of vacant land, splitting them into smaller parcels, and building identical communities of single-family homes surrounding a central shopping center. He sells the homes to residents and leases space in the shopping center to merchants. The man is
A. |
an assembler |
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B. |
both a developer and a subdivider |
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C. |
a subdivider only |
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D. |
a developer only |
QUESTION 38
1. What is a BENEFIT of investing in real estate?
A. |
Lack of short term liquidity |
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B. |
Tax credits for certain projects |
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C. |
Investment of large amounts of capital |
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D. |
Need for active management |
Asbestos is most harmful when it is disturbed or exposed
True
False
QUESTION 11
1. Real estate refers to
A. |
land and structures attached to it. |
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B. |
legal benefits, interests or rights inherent in the ownership of real estate. |
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C. |
movable property. |
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D. |
land, but not structures attached to it. |
QUESTION 9
1. Amortization is the
A. |
practice of charging interest on a loan |
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B. |
process of gradually retiring a debt by periodic payments |
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C. |
compounding of interest |
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D. |
use of debt to enhance the rate of return |
2 points
QUESTION 10
1. The Real Estate Settlement Procedures Act (RESPA) prohibits all of the followingexcept
A. |
kickbacks paid to brokers. |
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B. |
referral fees paid to brokers. |
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C. |
mandatory use of a title insurance company. |
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D. |
disclosure of closing costs prior to the closing. |
Use the following table to answer the next three questions:
|
Annual Net Income |
Annual |
Selling Price |
Property 1 |
82,000 |
122,000 |
1,250,600 |
Property 2 |
75,000 |
111,500 |
1,145,300 |
Property 3 |
145,000 |
175,000 |
1,433,600 |
Subject |
60,000 |
108,000 |
? |
If properties are residential properties, what is the Gross Income Multiplier for Property 2?
A. |
12.1 |
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B. |
10.27 |
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C. |
15.27 |
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D. |
9.7 |
QUESTION 8
1. Using the cap rate of Property 3, what selling price should be set for the Subject property?
A. |
$1,092,012 |
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B. |
987,098 |
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C. |
875,003 |
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D. |
$606,673 |
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Rating:
5/
Solution: Which of these is responsible for administering the Comprehensive