US Real Estate Ohio Test 4

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Author: TestGru Team (Education Specialist)

20 questions · All questions on one page

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

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

Agents in Ohio answer to which agency?

A) Ohio Real Estate Commission

B) FBI

C) State Senate

D) City Council

Question 2

What is agency in real estate?

A) zoning

B) ownership

C) broker acting for a client

D) tenancy

Question 3

What is a listing agreement?

A) lease

B) purchase offer

C) deed

D) contract to sell a property

Question 4

What is a CMA?

A) survey

B) comparative market analysis

C) appraisal

D) inspection

Question 5

What is earnest money?

A) tax

B) buyer good-faith deposit

C) fee

D) commission

Question 6

What is a fiduciary duty?

A) loyalty, obedience, care to client

B) secrecy from client

C) profit first

D) dual profit

Question 7

What is dual agency?

A) buyer only

B) two brokers

C) no representation

D) one broker representing both sides

Question 8

What is the Fair Housing Act?

A) zoning code

B) bans housing discrimination

C) tax law

D) building code

Question 9

What classes are protected in housing?

A) age only

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

C) politics

D) income

Question 10

What is redlining?

A) surveying

B) appraising

C) illegal denial by neighborhood

D) mapping

Question 11

What is an appraisal?

A) offer

B) inspection

C) professional value opinion

D) listing

Question 12

What are the three appraisal approaches?

A) show, stage, sell

B) sales comparison, cost, income

C) list, sell, close

D) offer, accept, record

Question 13

What is PITI?

A) a tax

B) a deed

C) principal, interest, taxes, insurance

D) a loan type

Question 14

What is LTV?

A) listing traffic volume

B) land title verification

C) lease term value

D) loan-to-value ratio

Question 15

What is PMI?

A) insurance for low down payments

B) title insurance

C) flood insurance

D) property tax

Question 16

What is escrow?

A) down payment

B) commission

C) neutral third-party holding

D) tax

Question 17

What is a deed?

A) lease

B) loan paper

C) offer

D) ownership transfer document

Question 18

What is a warranty deed?

A) guarantees clear title

B) lease

C) option

D) quitclaim

Question 19

What is a quitclaim deed?

A) transfers whatever interest exists

B) full warranty

C) loan

D) lease

Question 20

What is title insurance?

A) flood policy

B) life insurance

C) protects against title defects

D) home warranty

US Real Estate Ohio Test 4

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