Missouri Real Estate Salesperson National Licensing Exam Version 1
Practice exam for Salesperson and Broker License Exam under Real Estate Exams (Licensing Exams). 5 sample questions.
Sample Questions
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Question 1
A lot that measures 60 feet x 130 feet contains how many acres?
Correct Answer: A
Rationale: To determine the area of a lot measuring 60 feet by 130 feet in acres, we first calculate the area in square feet by multiplying the length and width: 60 ft в 130 ft = 7,800 square feet. Since one acre equals 43,560 square feet, we convert the area to acres by dividing: 7,800 В 43,560 ? 0.179 acres.
Rationale: To determine the area of a lot measuring 60 feet by 130 feet in acres, we first calculate the area in square feet by multiplying the length and width: 60 ft в 130 ft = 7,800 square feet. Since one acre equals 43,560 square feet, we convert the area to acres by dividing: 7,800 В 43,560 ? 0.179 acres.
Question 2
The terms of a mortgage call for a borrower to pay $4000 in loan discount points. If the mortgage is $80000, how many discount points have to be paid?
Correct Answer: C
Rationale: Discount points are a percentage of the loan amount; $4000 / $80000 = 0.05 or 5%. Thus, 5 points are paid. The other options do not match the calculation. This is a standard mortgage financing concept.
Rationale: Discount points are a percentage of the loan amount; $4000 / $80000 = 0.05 or 5%. Thus, 5 points are paid. The other options do not match the calculation. This is a standard mortgage financing concept.
Question 3
Which of the following is among the typical responsibilities of a residential property manager?
Correct Answer: D
Rationale: A residential property manager typically negotiates leases between owners and tenants, a core duty. Wage garnishment, structural decisions, or diversity-based tenant selection are not standard responsibilities. This ensures proper management of rental agreements. It aligns with industry practices.
Rationale: A residential property manager typically negotiates leases between owners and tenants, a core duty. Wage garnishment, structural decisions, or diversity-based tenant selection are not standard responsibilities. This ensures proper management of rental agreements. It aligns with industry practices.
Question 4
Which of the following most likely exceeds an apartment manager's responsibilities?
Correct Answer: C
Rationale: Adjusting rent based on a tenant's circumstances is typically beyond an apartment manager's authority, as rent terms are set by the owner or lease. Repairing elevators, maintaining exteriors, and entering for repairs are standard duties. This maintains consistent rental policies. It reflects typical management boundaries.
Rationale: Adjusting rent based on a tenant's circumstances is typically beyond an apartment manager's authority, as rent terms are set by the owner or lease. Repairing elevators, maintaining exteriors, and entering for repairs are standard duties. This maintains consistent rental policies. It reflects typical management boundaries.
Question 5
Which of the following restrictions could NOT be included in the CC & Rs for a housing development?
Correct Answer: D
Rationale: CC & Rs can regulate building materials, animals, or home size, but restricting family size violates fair housing laws, which prohibit discrimination based on familial status. Such a restriction is illegal. This protects residents' rights. It complies with federal regulations.
Rationale: CC & Rs can regulate building materials, animals, or home size, but restricting family size violates fair housing laws, which prohibit discrimination based on familial status. Such a restriction is illegal. This protects residents' rights. It complies with federal regulations.