US Real Estate Nevada Test 5

Real Estate » Category

Author: TestGru Team (Education Specialist)

20 questions · All questions on one page

Prepared with up-to-date content

Real Estate — Nevada Professional (Real Estate, USA) USA — Nevada 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 — Nevada.
For adults preparing for Real Estate license in the USA
Section: Real Estate — Nevada · Education: Professional (Adult) · Part: Real Estate — Nevada · Country: USA · Region: USA — Nevada

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 Nevada?

A) IRS

B) Nevada Real Estate Commission

C) State Bar

D) Medical Board

Question 2

What is agency in real estate?

A) ownership

B) broker acting for a client

C) tenancy

D) zoning

Question 3

What is a listing agreement?

A) purchase offer

B) lease

C) contract to sell a property

D) deed

Question 4

What is earnest money?

A) commission

B) buyer good-faith deposit

C) tax

D) fee

Question 5

What is PITI?

A) a loan type

B) a deed

C) a tax

D) principal, interest, taxes, insurance

Question 6

What is a fiduciary duty?

A) secrecy from client

B) loyalty, obedience, care to client

C) profit first

D) dual profit

Question 7

What is dual agency?

A) no representation

B) one broker representing both sides

C) two brokers

D) buyer only

Question 8

What is the Fair Housing Act?

A) building code

B) bans housing discrimination

C) tax law

D) zoning code

Question 9

What classes are protected in housing?

A) income

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

C) politics

D) age only

Question 10

What is redlining?

A) appraising

B) mapping

C) surveying

D) illegal denial by neighborhood

Question 11

What is steering?

A) negotiating

B) advertising

C) guiding buyers by race (illegal)

D) showing homes

Question 12

What is LTV?

A) loan-to-value ratio

B) lease term value

C) listing traffic volume

D) land title verification

Question 13

What is a CMA?

A) inspection

B) survey

C) comparative market analysis

D) appraisal

Question 14

What is an appraisal?

A) inspection

B) professional value opinion

C) offer

D) listing

Question 15

What is PMI?

A) flood insurance

B) property tax

C) title insurance

D) insurance for low down payments

Question 16

What is escrow?

A) neutral third-party holding

B) tax

C) commission

D) down payment

Question 17

What is a deed?

A) offer

B) loan paper

C) lease

D) ownership transfer document

Question 18

What is a warranty deed?

A) quitclaim

B) lease

C) option

D) guarantees clear title

Question 19

What is a quitclaim deed?

A) loan

B) transfers whatever interest exists

C) lease

D) full warranty

Question 20

What is title insurance?

A) life insurance

B) flood policy

C) protects against title defects

D) home warranty

US Real Estate Nevada Test 5

Test Complete

About This Test