US Real Estate Montana Advanced Test 4

Real Estate » Category

Author: TestGru Team (Education Specialist)

20 questions · All questions on one page

Prepared with up-to-date content

Real Estate — Montana Professional (Real Estate, USA) USA — Montana State Real Estate License — USA

What is this test? for Real Estate Salesperson/Broker prep, USA (national + state law) — Professional (Real Estate, USA) level, USA — Montana.
For adults preparing for Real Estate license in the USA
Section: Real Estate — Montana · Education: Professional (Adult) · Part: Real Estate — Montana · Country: USA · Region: USA — Montana

Finance and real estate acumen covers markets, valuation, contracts, and budget management.

This test is designed to reinforce core concepts and help you succeed on your exams.

By solving this test of 20 questions, you can both test your knowledge and identify the topics you need to improve.

Question 1

What is steering?

A) showing homes

B) guiding buyers by race (illegal)

C) negotiating

D) advertising

Question 2

What is agency in real estate?

A) broker acting for a client

B) ownership

C) zoning

D) tenancy

Question 3

What is a listing agreement?

A) deed

B) purchase offer

C) contract to sell a property

D) lease

Question 4

What is a CMA?

A) comparative market analysis

B) inspection

C) appraisal

D) survey

Question 5

What is earnest money?

A) fee

B) buyer good-faith deposit

C) commission

D) tax

Question 6

What is a fiduciary duty?

A) profit first

B) dual profit

C) secrecy from client

D) loyalty, obedience, care to client

Question 7

What is dual agency?

A) buyer only

B) no representation

C) two brokers

D) one broker representing both sides

Question 8

What is the Fair Housing Act?

A) building code

B) tax law

C) bans housing discrimination

D) zoning code

Question 9

What classes are protected in housing?

A) race, color, religion, sex, handicap, family, national origin

B) income

C) age only

D) politics

Question 10

What is redlining?

A) mapping

B) illegal denial by neighborhood

C) surveying

D) appraising

Question 11

What is an appraisal?

A) listing

B) professional value opinion

C) offer

D) inspection

Question 12

What are the three appraisal approaches?

A) show, stage, sell

B) offer, accept, record

C) sales comparison, cost, income

D) list, sell, close

Question 13

What is PITI?

A) a tax

B) a loan type

C) principal, interest, taxes, insurance

D) a deed

Question 14

What is LTV?

A) loan-to-value ratio

B) land title verification

C) lease term value

D) listing traffic volume

Question 15

What is PMI?

A) title insurance

B) property tax

C) flood insurance

D) insurance for low down payments

Question 16

What is escrow?

A) neutral third-party holding

B) down payment

C) commission

D) tax

Question 17

What is a deed?

A) loan paper

B) ownership transfer document

C) offer

D) lease

Question 18

What is a warranty deed?

A) quitclaim

B) lease

C) guarantees clear title

D) option

Question 19

What is a quitclaim deed?

A) lease

B) loan

C) full warranty

D) transfers whatever interest exists

Question 20

What is title insurance?

A) home warranty

B) protects against title defects

C) life insurance

D) flood policy

US Real Estate Montana Advanced Test 4

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