Chapter 23
Practice Exam Three
You’ve completed two exams, but you can’t get too much practice. So here is another exam with the answers in the following chapter. This exam offers you some new questions as well as some old questions asked in a different way. Download a fill-in-the-bubble answer sheet from www.dummies.com/go/relebubblesheets and use it as you take the practice exam. I group the questions by chapter so you can easily analyze your weak areas.
Don’t get over confident. Read the questions and answers carefully. By the time you’re done with all four practice exams, know you are ready for the state test.
1. Maximizing income and maintaining property value are the general goals of what aspect of the real estate business?
(A) Appraising
(B) Brokerage and sales
(C) Property management
(D) Property inspection
2. When managing risk, transferring it usually means
(A) making the property manager responsible.
(B) making the owner responsible.
(C) complying with all local laws so that the municipality is responsible.
(D) purchasing insurance.
3. What type of insurance would usually pay a financial claim for injury by a person who falls on the icy sidewalk in front of a building?
(A) Liability
(B) Errors and omissions
(C) Casualty
(D) Fire and hazard
4. Although a property management agreement can be for any length of time, the generally recommended minimum is
(A) six months.
(B) one year.
(C) two years.
(D) no minimum.
5. An agent who represents someone ...
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