US Real Estate Tennessee Advanced Test 6

Real Estate » Category

Author: TestGru Team (Education Specialist)

20 questions · All questions on one page

Prepared with up-to-date content

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

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 PMI?

A) insurance for low down payments

B) title insurance

C) flood insurance

D) property tax

Question 2

What is agency in real estate?

A) broker acting for a client

B) zoning

C) tenancy

D) ownership

Question 3

What is a listing agreement?

A) lease

B) deed

C) contract to sell a property

D) purchase offer

Question 4

What is earnest money?

A) fee

B) tax

C) buyer good-faith deposit

D) commission

Question 5

What is a fiduciary duty?

A) secrecy from client

B) profit first

C) dual profit

D) loyalty, obedience, care to client

Question 6

What is escrow?

A) down payment

B) neutral third-party holding

C) commission

D) tax

Question 7

What is dual agency?

A) two brokers

B) one broker representing both sides

C) buyer only

D) no representation

Question 8

What is the Fair Housing Act?

A) bans housing discrimination

B) tax law

C) building code

D) zoning code

Question 9

What classes are protected in housing?

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

B) age only

C) politics

D) income

Question 10

What is redlining?

A) illegal denial by neighborhood

B) appraising

C) surveying

D) mapping

Question 11

What is steering?

A) negotiating

B) showing homes

C) advertising

D) guiding buyers by race (illegal)

Question 12

What is a CMA?

A) comparative market analysis

B) survey

C) appraisal

D) inspection

Question 13

What is a deed?

A) offer

B) ownership transfer document

C) loan paper

D) lease

Question 14

What is an appraisal?

A) professional value opinion

B) listing

C) offer

D) inspection

Question 15

What are the three appraisal approaches?

A) offer, accept, record

B) list, sell, close

C) sales comparison, cost, income

D) show, stage, sell

Question 16

What is PITI?

A) a tax

B) a loan type

C) a deed

D) principal, interest, taxes, insurance

Question 17

What is LTV?

A) listing traffic volume

B) loan-to-value ratio

C) land title verification

D) lease term value

Question 18

What is a warranty deed?

A) guarantees clear title

B) quitclaim

C) option

D) lease

Question 19

What is a quitclaim deed?

A) loan

B) transfers whatever interest exists

C) full warranty

D) lease

Question 20

What is title insurance?

A) flood policy

B) protects against title defects

C) life insurance

D) home warranty

US Real Estate Tennessee Advanced Test 6

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