CA Real Estate Finance Course » 2021 » Sec 16 Unit 2 Exam

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Question #1
Katrina wants to find a way to curb her spending. She has decided to take a look at her variable expenses. Which of the following is a variable expense?
A.   Gym membership
B.   Clothing
C.   Rent
D.   Car payment
Question #2
Luis is estimating his annual income. He researches and finds the average sale price of homes in the area where he’ll be working. He expects his commission to be 3%. What other data point does he need to estimate his annual income?
A.   Number of homes listed in his area
B.   Number of homes sold annually in his area
C.   Number of licensees working in the area
D.   Number of transactions he expects to close in the year
Question #3
Marion has been a licensee for four years and earns a relatively steady income. Which of the following is a good way for Marion to estimate her monthly business expenses?
A.   Researching typical real estate licensee expenses on the internet
B.   Calculating monthly expenses based on her expense history from the past year
C.   Asking colleagues how much they spend on their business each month and taking an average
D.   Asking her broker to provide a breakdown of typical licensee expenses
Question #4
Melissa is a new licensee. Which of these items will be among the expenses she will incur as she begins her business?
A.   Self-employment tax
B.   Lockbox fee
C.   Desk fee
D.   Business tax

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