US Real Estate Montana Test 8

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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

What is a lien?

A) deed

B) offer

C) claim against property for debt

D) lease

Question 2

Agents in Montana answer to which agency?

A) Montana Real Estate Commission

B) FBI

C) State Senate

D) City Council

Question 3

What is a listing agreement?

A) contract to sell a property

B) purchase offer

C) deed

D) lease

Question 4

What is earnest money?

A) fee

B) tax

C) commission

D) buyer good-faith deposit

Question 5

What is a fiduciary duty?

A) secrecy from client

B) dual profit

C) profit first

D) loyalty, obedience, care to client

Question 6

What is dual agency?

A) no representation

B) buyer only

C) one broker representing both sides

D) two brokers

Question 7

What is the Fair Housing Act?

A) tax law

B) bans housing discrimination

C) building code

D) zoning code

Question 8

What is a mortgage?

A) rent deal

B) loan secured by property

C) lease

D) deed

Question 9

What classes are protected in housing?

A) politics

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

C) age only

D) income

Question 10

What is redlining?

A) mapping

B) surveying

C) illegal denial by neighborhood

D) appraising

Question 11

What is steering?

A) showing homes

B) negotiating

C) advertising

D) guiding buyers by race (illegal)

Question 12

What is a CMA?

A) inspection

B) appraisal

C) survey

D) comparative market analysis

Question 13

What is an appraisal?

A) professional value opinion

B) listing

C) inspection

D) offer

Question 14

What are the three appraisal approaches?

A) show, stage, sell

B) list, sell, close

C) sales comparison, cost, income

D) offer, accept, record

Question 15

What is a fixed-rate mortgage?

A) changing rate

B) short term

C) same rate whole term

D) no interest

Question 16

What is PITI?

A) a deed

B) principal, interest, taxes, insurance

C) a loan type

D) a tax

Question 17

What is LTV?

A) lease term value

B) listing traffic volume

C) loan-to-value ratio

D) land title verification

Question 18

What is PMI?

A) property tax

B) title insurance

C) insurance for low down payments

D) flood insurance

Question 19

What is escrow?

A) down payment

B) commission

C) tax

D) neutral third-party holding

Question 20

What is a deed?

A) offer

B) lease

C) ownership transfer document

D) loan paper

US Real Estate Montana Test 8

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