US Real Estate Montana Test 3

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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

Which agency licenses agents in Montana?

A) IRS

B) State Bar

C) Medical Board

D) Montana Real Estate Commission

Question 2

What is agency in real estate?

A) ownership

B) tenancy

C) zoning

D) broker acting for a client

Question 3

What classes are protected in housing?

A) politics

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

C) age only

D) income

Question 4

What is a listing agreement?

A) contract to sell a property

B) purchase offer

C) deed

D) lease

Question 5

What is earnest money?

A) fee

B) tax

C) commission

D) buyer good-faith deposit

Question 6

What is a fiduciary duty?

A) secrecy from client

B) dual profit

C) profit first

D) loyalty, obedience, care to client

Question 7

What is dual agency?

A) no representation

B) buyer only

C) one broker representing both sides

D) two brokers

Question 8

What is redlining?

A) mapping

B) surveying

C) illegal denial by neighborhood

D) appraising

Question 9

What is steering?

A) showing homes

B) negotiating

C) advertising

D) guiding buyers by race (illegal)

Question 10

What is a CMA?

A) inspection

B) appraisal

C) survey

D) comparative market analysis

Question 11

What is an appraisal?

A) professional value opinion

B) listing

C) inspection

D) offer

Question 12

What are the three appraisal approaches?

A) show, stage, sell

B) list, sell, close

C) sales comparison, cost, income

D) offer, accept, record

Question 13

What is PITI?

A) a deed

B) principal, interest, taxes, insurance

C) a loan type

D) a tax

Question 14

What is LTV?

A) lease term value

B) listing traffic volume

C) loan-to-value ratio

D) land title verification

Question 15

What is PMI?

A) property tax

B) title insurance

C) insurance for low down payments

D) flood insurance

Question 16

What is escrow?

A) down payment

B) commission

C) tax

D) neutral third-party holding

Question 17

What is a deed?

A) offer

B) lease

C) ownership transfer document

D) loan paper

Question 18

What is a warranty deed?

A) option

B) quitclaim

C) lease

D) guarantees clear title

Question 19

What is a quitclaim deed?

A) full warranty

B) transfers whatever interest exists

C) loan

D) lease

Question 20

What is title insurance?

A) life insurance

B) home warranty

C) flood policy

D) protects against title defects

US Real Estate Montana Test 3

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