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Guide for Manitoba Real Estate Salesperson Licensing Exam

Quiz Manitoba Real Estate Salesperson Licensing Exam

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Quiz

1/10
Property valuation and appraisal
What does the term "capitalization rate" refer to in property valuation and appraisal?
Select the answer
1 correct answer
A.
The rate at which a property's market value is increasing
B.
The rate of return a property is expected to generate
C.
The annual tax rate for properties in Australia
D.
The cost of borrowing money for real estate investments

Quiz

2/10
Real Estate Principles and Practices
In a tenancy in common arrangement, which of the following is accurate?
Select the answer
1 correct answer
A.
All co-owners must have equal shares in the property
B.
Each co-owner has the right to sell or transfer their share independently
C.
The property automatically passes to the surviving co-owners upon death
D.
D) Co-owners must reside in the property together

Quiz

3/10
Real Estate Math
A house is sold for $190,000. It is then appraised for $185,000. If the bank is willing to lend an 80% LTV, how much of a down payment will the buyer be required to make?
Select the answer
1 correct answer
A.
42,000
B.
37,000
C.
38,000
D.
40,000

Quiz

4/10
Real Estate Law
Which of the following is NOT a key date to be included in an agreement of purchase and sale?
Select the answer
1 correct answer
A.
Agreement Date
B.
Completion Date
C.
Requisition Date
D.
D) Home Inspection Condition Date

Quiz

5/10
Real Estate Financing
Which of the following is a correct statement about a property with a legal non-conforming use?
Select the answer
1 correct answer
A.
The property can be used for any purpose
B.
The property is exempt from all zoning regulations
C.
The property can continue its current use even if zoning laws change
D.
The property must be brought into compliance with current zoning laws

Quiz

6/10
Property valuation and appraisal
Which depreciation factor is most likely considered in the cost approach?
Select the answer
1 correct answer
A.
Physical deterioration
B.
Current market demand
C.
Neighborhood demographics
D.
Historical landmark status

Quiz

7/10
Property valuation and appraisal
Which approach is commonly used in property valuation?
Select the answer
1 correct answer
A.
Cost approach
B.
Income approach
C.
Sales comparison approach
D.
All of the above

Quiz

8/10
Real Estate Principles and Practices
Which of the following statements is correct about organized real estate?
Select the answer
1 correct answer
A.
OREA is responsible for licensing of real estate salespersons in the province of Ontario
B.
All registrants must abide by the CREA Code of Ethics
C.
REBBA 2002 does not require any registrant to become a member of organized real estate
D.
It is mandatory for every registrant to become a member of organized real estate

Quiz

9/10
Real Estate Math
What is the interest rate on a $10,000 loan with a $125 monthly interest?
Select the answer
1 correct answer
A.
2.5
B.
15
C.
7.5
D.
10

Quiz

10/10
Real Estate Law
Which of the following is a correct statement regarding remuneration under REBBA?
Select the answer
1 correct answer
A.
All registrants must be paid a fixed salary
B.
Remuneration must be agreed upon in writing
C.
Remuneration is not subject to taxation
D.
Remuneration can only be paid to the brokerage, not individual registrants
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Info quiz:

  • Quiz name:Manitoba Real Estate Salesperson Licensing Exam
  • Total number of questions:471
  • Number of questions for the test:50
  • Pass score:70%
  • Number of topics:5 Topics
Study topics:Number of questions:
  • Property valuation and appraisal:104 Questions
  • Real Estate Financing:12 Questions
  • Real Estate Law:12 Questions
  • Real Estate Math:174 Questions
  • Real Estate Principles and Practices:169 Questions

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