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Question 1

What principle states that the value of the best home in a neighborhood will be lowered by the existence of inferior homes?

Options :

A : Anticipation

B : Contribution

C : Progression

D : Regression

Answer: D

Question 2

Josh is a new North Carolina broker at Atlantic Realty. He just got his first listing and wrote the following ad: "Charming seaside cottage. Call Broker Josh at 555-9876 for an appointment." Which statement about this ad copy is TRUE?

Options :

A : The ad must include an address for the property.

B : The ad must include Josh's email address.

C : The ad is acceptable as written.

D : This is an example of an illegal blind ad.

Answer: D

Question 3

Bernie is the broker-in-charge at a brokerage firm located in North Carolina. He is actively involved in listing and selling properties. Mei is a provisional broker at the same brokerage firm. She has a buyer client who has expressed interest in one of Bernie's listings. In this transaction, what would be a permissible agency arrangement?

Options :

A : Bernie and Mei could act as dual agents to both clients.

B : Bernie and Mei each have a single agency relationship with their respective clients.

C : Bernie and Mei would be designated agents of their respective clients.

D : Bernie would be the designated agent for both buyer and seller.

Answer: C

Question 4

A buyer's stable monthly income is $6,800. Every month they pay a $485 car payment, $200 in a revolving credit payment, and $1,500 in alimony. Using ratios of 31% and 43%, what is the maximum monthly mortgage payment they would qualify for on an FHA-insured mortgage loan?

Options :

A : $739

B : $1,763

C : $1,972

D : $2,108

Answer: B

Question 5

The property manager of an apartment building would be in violation of the federal Fair Housing Act if they discriminated against a prospective tenant on the basis of:

Options :

A : age.

B : familial status.

C : marital status.

D : military status.

Answer: B