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Chapter 1 - NCRE
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Questions in this quiz (20)
1All of the following are separable ownerships in land EXCEPT:
- Asurface of the land.
- Barea below the surface.
- Cnonhomogeneity.
- Dair rights.
2The characteristic of land that causes the real estate market to be essentially a local market is the physical characteristic of:
- Aindestructibility.
- Bimmobility.
- Cavailability.
- Dnatural features.
3The nonhomogeneity of land:
- Ais the basis for the legal remedy of specific performance.
- Bresults from the uniqueness of every parcel of real estate.
- Cis a physical characteristic of land.
- Dall of the above.
4An increase in the economic supply of land has resulted from:
- Aincreased utilization of the physical supply of land.
- Bmodification by improvements to the land.
- Chigh-density development.
- Dall of the above.
5The quality of the location of land and, consequently, the value of the land can be changed by:
- Athe principle of nonhomogeneity.
- Brelocation of the land.
- Cchanges in the national scope of the real estate business.
- Dimprovements to the land that result in accessibility not previously available.
6The employment of the concept of highest and best use:
- Aincludes consideration of the physical and economic factors affecting land use.
- Bresults in the greatest present value of the land.
- Cmust be a use feasible in the near future.
- Dall of the above.
7An example of public land use controls is:
- Arestrictive covenants.
- Bzoning laws.
- Cdeed restrictions.
- Dprotective covenants.
8Real estate investment offers the opportunity to produce a profit in the following ways EXCEPT:
- Aappreciation.
- Bpositive cash flow.
- Cspecific performance.
- Dtax advantages.
9The real estate market may be described in all the following ways EXCEPT:
- Aa free market.
- Ba local market.
- Ca movable market.
- Da market that is slow to react to changes in supply and demand.
10The 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?
- Afinancier
- Bcounselor or advisor
- Ccontractor
- Dsalesperson
11The real estate agent must have specialized knowledge of a variety of subjects that include all of the following EXCEPT:
- Afinancing.
- Bcontracts.
- Clegal advice.
- Dvaluation of property.
12Economic characteristics of real property include which of the following?
- Alocation
- Bimmobility
- Cindestructibility
- Dnonhomogeneity
13Which of the following has the greatest effect on real property value?
- Atax rates
- Blocation
- Cavailability
- Dindestructibility
14Which of the following is an example of the private control of land use?
- Azoning
- Brestrictive covenants
- Cbuilding codes
- Denvironmental controls
15The term REALTOR® designates:
- Aany real estate licensee.
- Ba real estate licensee who is a member of the national, state, and local association of REALTORS®.
- Conly licensees who hold broker’s licenses.
- Dall of the above.
16Physical characteristics of land include all of the following EXCEPT:
- Alocation.
- Bnonhomogeneity.
- Cpermanence.
- Dimmobility.
17The National Association of REALTORS® is:
- Aa government organization.
- Ba trade group.
- Can organization for buyers and sellers of commercial real estate.
- Dall of the above.
18Factors affecting supply and demand in real estate include all of these items EXCEPT:
- Agovernment regulations.
- Binterest rates.
- Clocal economic conditions.
- Dreal estate investment trusts.
19Scarcity and location are examples of:
- Aphysical characteristics of the land.
- Bhighest and best use.
- Cpermanence of investment.
- Deconomic characteristics of the land.
20All of the following are public land use restrictions EXCEPT:
- Abuilding codes.
- Bprotective covenants.
- Czoning.
- Dregional planning.
Information
- Description
- Chapter 1 of the NCRE Training
- Author
- LeShaun McKenzie
- Language
- English
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- 46
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