CHAPTER 1 REVIEW QUESTIONS

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  1. A contractor who builds on his or her own lot in the hope of finding a purchaser upon completion is building on _____.
    • -specs
    • -speculative building
    • -building on specs
  2. One type of a residential sales transaction involves the sale of any improved residential property of ____units or less.
    4
  3. The term ______ is a registered trademark of the National Association of REALTORS and may be used only by member of the organization.
    Realtor
  4. Most real estate licensees are involved in _____brokerage.
    residential
  5. Property management has grown as a service of real estate primarily because of an increase in _____ _____.
    absentee ownership
  6. That portion of the Federal Financial Institutions Reform, Recovery and Enforcement Act that requires the use of state-licensed or state-certified appraisers is_____.
    Title XI
  7. An estimate of the value of property developed by a real estate licensee for use in listing or selling property is known as a _____ ____ ____.
    comparative market analysis
  8. Mortgage loan originators are licensed in Florida by the ___ ___ ___ ___.
    Department of Financial Services
  9. The category of construction that applies when a property owner employs a contractor to build according to their individual specifications is called ___ ___.
    custom building
  10. After completion of construction of a subdivision, the streets, sidewalks, and common areas are frequently conveyed to the city or county in a process called ___.
    dedication
  11. Appraising is the process of developing an ___ of value.
    opinion
  12. Valuing a business requires an analysis of ___ ___ and ___ ___.
    balance sheets, financial statements
  13. The three areas of expertise real estate licensees bring to the transaction relate to ___ ___, ___ and ___.
    property transfer, valuation, marketing
  14. The composite value of the real and personal property, plus the intangibl assets of a business, is called ___ ___ ___.
    going concern value
  15. Part ___ of F.S. 475 covers regulation and licensing of real estate practitioners, while Part ___ covers the registration, licensing, and certification of appraisers in Florida.
    I, II

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Author:
mccullochhelen
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331792
Filename:
CHAPTER 1 REVIEW QUESTIONS
Updated:
2017-05-29 02:55:10
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REVIEW QUESTIONS
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