Question 1

Which of the following best describes the concept of appreciation?

Options :

A : When a property's value increases as a result of capital improvements.

B : When losses are deducted from a property's value for tax purposes.

C : When the value of a property decreases over time.

D : When the value of a property increases over time.

Answer: D

Question 2

What do you call the person or entity that oversees trust or escrow money?

Options :

A : Escrow agent

B : Escrow master

C : Mortgage agent

D : Special agent

Answer: A

Question 3

What type of license will you receive if you have a supervising broker at the time of application?

Options :

A : Active license

B : Brokers license

C : Firm license

D : Inactive license

Answer: A

Question 4

Which photograph of a home for sale should not be published for public viewing?

Options :

A : An exterior photo showcasing the pool and outdoor kitchen/bar area

B : A photo of the billiards room that reveals the owner's collection of antique guns

C : A photo of the master bathroom that also shows the photographer's arm reflected in the mirror

D : A wide-angle photo of the renovated kitchen that makes the area look larger than it really is

Answer: B

Question 5

The cost approach to finding an appraised value measures which of the following?

Options :

A : The cost to acquire land and construct a reproduction

B : The cost to acquire land only

C : The cost to construct a reproduction only

D : The expenses the property is expected to produce for the owner

Answer: A

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