CA Real Estate Finance Course » 2021 » Sec 2 Unit 2 Exam

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Question #1
Robert and Jill purchased a single-family home in the suburbs for $50,000 nearly 40 years ago. Considering historical property value fluctuations, what is the likely value of the property today?
A.   More than $50,000
B.   It's impossible to tell. Historically, property values have not followed a consistent pattern.
C.   Close to $50,000
D.   Less than $50,000
Question #2
A multibillion dollar online retail distributor has decided to set up operations in Ashland. The population of Ashland is 22,000. What is the potential impact to the area?
A.   The community's economic stability is guaranteed.
B.   The community is not growing fast enough.
C.   The community will not grow.
D.   The community is potentially put at risk.
Question #3
Which generation financed their homes due to also having other debt obligations?
A.   Echo Boomers
B.   Millennials
C.   Generation X
D.   Baby Boomers
Question #4
Which of the following best describes a seller’s market?
A.   Demand is greater than supply
B.   Supply and demand are equal
C.   Supply is greater than demand
D.   Loans are widely available
Question #5
Which act temporarily removed the requirement that taxpayers whose homes were sold as a result of a foreclosure had to include the loan write-off amount as taxable income?
A.   Mortgage Forgiveness Debt Relief Act of 2007
B.   Taxpayer Relief Act of 1997
C.   American Taxpayer Relief Act of 2012
D.   Homeowner Affordability and Stability Plan
Question #6
Which of the following best describes the state of the market during the over supply phase of the real estate cycle?
A.   Unemployment increasing, prices falling, and foreclosures on the rise
B.   High but stabilized unemployment and a high number of foreclosures
C.   Properties selling for more than their appraised value, many buyers in the market, and lots of new construction
D.   Increases in hiring, employment, public confidence, and lots of buyers in the market
Question #7
Which of the following items directly influences real estate demand?
A.   Loan availability
B.   Construction of new homes
C.   Construction costs
D.   Conversions to residential properties
Question #8
Which of the following best describes the state of the market during the recession phase of the real estate cycle?
A.   Increases in hiring, employment, and public confidence, and lots of buyers in the market
B.   Unemployment increasing, prices falling, and foreclosures on the rise
C.   High but stabilized unemployment and a high number of foreclosures
D.   Properties selling for more than they're worth, many buyers in the market, and lots of new construction

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