Gold Coast 45 Hour Exam: Questions &
Answers (Exam Version H 2023) Property managers who are employed and compensated by community associations are required to obtain and maintain which type of license?Correct Ans - CAM What term is used for the practice of specializing in one particular residential neighborhood or type of property? Correct Ans - Farming empty Correct Ans - upon closing a sales transaction who pays the sales associate their contracted commission? Correct Ans - Employing Broker Home sold for $250k with a garage, a home sold in the area for $230k with no garage. From this information what can you determine the approximate value of the garage is? Correct Ans - $20000 empty Correct Ans - which source will most likely produce the greatest # of potential buyers for a listing? Correct Ans - Putting your listing on the MLS empty Correct Ans - empty Correct Ans - The NAR code of ethics specifies duties of real-estate professionals according to ethical standard of conduct. All of the following except? Correct Ans - Duties empty Correct Ans - empty Correct Ans - 1 / 2
What is primary purpose of building code regulations? Correct Ans - to protect public health, safety and general welfare which auction system is involved with the enforcement of liens due to borrower default? Correct Ans - Courthouse Auction Which type of listing allows an owner to list his or her property with more than one broker? Correct Ans - Open Listing Which investment term refers to an asset that cannot be sold quickly without lowering the price? Correct Ans - illiquid empty Correct Ans - Which home staging and prep tip is suggested to help make home more appealing? Correct Ans - Brighten room, cleaning window & turning on lights What does a "double entry" refer to on a closing disclosure statement?Correct Ans - Expenses between two parties to the transaction, with no third party involved.What are the benefits of using a VA loan in a transaction? Correct Ans - little to no money down and low interest rates What type of brokerage business specializes in selling or leasing income- producing properties such as malls, offices, restaurants, gas stations, and office towers? Correct Ans - Commercial Brokerage empty Correct Ans - Which of the following statement best describes the practice of steering?Correct Ans - Is the practice of directing homebuyers toward or away from homes in certain neighborhoods or in a multiunit building in order to preserve or alter the makeup of that neighborhood with respect to race, religion, sex, or national origin.
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