Real Estate Practices and Specializations Quiz Take our real estate practices quiz to test your knowledge on investments, specializations, terms, and transactions in the industry. Get ready to ace it!
#1
Which of the following is a common type of real estate investment?Stocks
Bonds
Mutual funds
Real estate investment trusts (REITs)
#2
What does MLS stand for in real estate?Multiple Listing Service
Market Listing System
Mortgage Loan System
Money Lending Service
#3
What is 'zoning' in real estate?A type of mortgage
A legal restriction on the use of land
A negotiation tactic in property sales
A type of property tax assessment
#4
What is the primary responsibility of a real estate appraiser?Marketing properties
Negotiating contracts
Determining the value of properties
Handling property inspections
#5
In real estate, what does 'FSBO' stand for?For Sale By Owner
Free Standing Building Option
Financial Services for Brokers and Owners
Federally Subsidized Business Operations
#6
What is the role of a real estate broker?Representing buyers and sellers in real estate transactions
Performing property inspections
Handling property management tasks
Providing legal advice to clients
#7
Which of the following is NOT a common real estate specialization?Residential real estate
Commercial real estate
Forensic real estate
Industrial real estate
#8
What is a 'comparative market analysis' (CMA) used for in real estate?To determine the market value of a property
To analyze stock market trends
To evaluate mutual fund performance
To calculate mortgage interest rates
#9
What is a '1031 exchange' in real estate?An exchange of properties with a tax advantage
An exchange of currency in international real estate deals
An auction process for distressed properties
A type of real estate license
#10
What does 'CAP rate' stand for in real estate?Capital Appreciation Rate
Cash-on-Cash Appreciation Rate
Capitalization Rate
Cost Analysis Percentage
#11
Which of the following is NOT typically considered a real estate closing cost?Property taxes
Real estate agent commission
Home inspection fees
Homeowner's association (HOA) fees
#12
What is a 'landlord' in real estate terminology?An investor in real estate
A person who rents out property to tenants
A real estate agent specializing in land sales
A government official overseeing land use regulations
#13
What is the term for a legally binding agreement to buy or sell a property?Contract
Promise
Pledge
Warranty
#14
What is the purpose of 'earnest money' in a real estate transaction?To cover the buyer's closing costs
To secure the buyer's offer on the property
To pay for the seller's moving expenses
To finance property renovations
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