Real Estate-Unit 1 Exam Latest Questions And Answers (Verified Answers)

A broker charges a prospective seller $50 for a comparative market analysis (CMA). Which statement applies? a. Brokers are not permitted to charge for CMAs. b. This is permissible, provided the broker does not represent the CMA as an appraisal. c. The broker must be a state-certified or licensed appraiser to do this. d. The CMA must be signed by a state-certified or licensed appraiser. {Ans: b. This is permissible, provided the broker does not represent the CMA as an appraisal.}The field of property management has experienced growth and specialization primarily because of a. the deregulation of the real estate industry. b. the increase in the number of licensees specializing in property management. c. the increase in the number of absentee owners. d. higher construction costs that have caused an increase in the number of renters. {Ans: c. the increase in the number of absentee owners.}Appraisers are paid a fee because a. to accept compensation based on the appraised value is a conflict of interest. b. custom dictates the method of compensation. c. the fee would be too high if it were based on a percentage of property value. d. only brokers and sales associates are paiJ commissions