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Guide for Nova Scotia Real Estate Licensing Exam

Quiz Nova Scotia Real Estate 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
Which of the following is a primary duty of a real estate agent when representing a client?
Select the answer
1 correct answer
A.
To provide legal advice
B.
To act in the best interests of the client
C.
To set property prices
D.
To manage the client's finances

Quiz

3/10
Real Estate Math
If a property is listed at $300,000 and the buyer offers 95% of the asking price, what is the offer amount?
Select the answer
1 correct answer
A.
$285,000
B.
$290,000
C.
$295,000
D.
$300,000

Quiz

4/10
Real Estate Law
Which of the following is a requirement for a valid real estate contract?
Select the answer
1 correct answer
A.
Written agreement
B.
Verbal agreement
C.
Notarization
D.
Witness signatures

Quiz

5/10
Real Estate Financing
Which of the following is a common type of mortgage loan in Canada?
Select the answer
1 correct answer
A.
Fixed-rate mortgage
B.
Adjustable-rate mortgage
C.
Interest-only mortgage
D.
All of the above

Quiz

6/10
Property valuation and appraisal
What is the primary purpose of a property appraisal in real estate?
Select the answer
1 correct answer
A.
To determine the market value of the property
B.
To estimate the cost of repairs needed
C.
To set the property tax rate
D.
To assess zoning compliance

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
What is the purpose of a Comparative Market Analysis (CMA) in real estate?
Select the answer
1 correct answer
A.
To determine the property's market value
B.
To assess the property's structural integrity
C.
To calculate the property's tax liability
D.
To estimate the property's rental income potential

Quiz

9/10
Real Estate Math
A property is sold for $450,000 with a 6% commission rate. What is the total commission earned?
Select the answer
1 correct answer
A.
$27,000
B.
$25,000
C.
$30,000
D.
$35,000

Quiz

10/10
Real Estate Law
In Nova Scotia, which of the following is required to obtain a real estate license?
Select the answer
1 correct answer
A.
Completion of a real estate licensing course
B.
Passing a real estate exam with a minimum of 70%
C.
Providing a criminal record check
D.
All of the above
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Info quiz:

  • Quiz name:Nova Scotia Real Estate Licensing Exam
  • Total number of questions:511
  • Number of questions for the test:50
  • Pass score:70%
  • Number of topics:5 Topics
Study topics:Number of questions:
  • Property valuation and appraisal:133 Questions
  • Real Estate Financing:125 Questions
  • Real Estate Law:125 Questions
  • Real Estate Math:3 Questions
  • Real Estate Principles and Practices:125 Questions

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