RIRES Rhode Island Real Estate Salesperson - Set 3 - Part 3
Test your knowledge of technical writing concepts with these practice questions. Each question includes detailed explanations to help you understand the correct answers.
Question 41: When agents discuss the size of rural or undeveloped land, they typically state its area using one customary unit rather than square feet, because that unit gives a convenient sense of larger parcels. Which unit is the standard measure agents use for acreage?
Question 42: A new licensee reviewing common land measures notes that one customary unit of area, used constantly when sizing residential and rural parcels, equals forty-three thousand five hundred sixty square feet. Which of the following terms names that unit?
Question 43: A surveyor references a large block of land formed by thirty-six sections arranged in a square that measures six miles along each of its boundaries. Which term names this survey unit that sits directly above the section in the rectangular system's hierarchy?
Question 44: A homeowner signs a listing agreement, and weeks later a cooperating brokerage brings the buyer who closes the sale. Although the buyer's agent worked hardest to find that purchaser, the source of the commission money is fixed by the agreement. Who ultimately pays the commission here?
Question 45: In the government rectangular survey system, land is divided into large squares that each measure one mile on every side and contain roughly six hundred forty acres. Which term identifies this one-square-mile unit that surveyors commonly use to describe rural parcels?
Question 46: An owner of an income-producing apartment building deducts a portion of the structure's cost each year on her tax return, recovering that cost across the building's useful life even though the property may be gaining market value. Which concept describes this yearly tax deduction?
Question 47: A local tax office assigns each property a dollar figure that serves as the base for calculating the yearly property tax owed, a figure that may differ from what the home would bring on the open market. Which term identifies this figure?
Question 48: After her agent presents a comparative market analysis suggesting a price range, a seller in Newport insists on listing somewhat higher than the agent recommended. Which statement correctly describes the agent's and seller's respective roles in finally setting the listing price?
Question 49: An investor buys a small rental building and wants a simple measure expressing the annual income the property generates as a proportion of the money invested in it. This figure lets her compare opportunities. Which concept captures this relationship of yearly return to investment?
Question 50: When advising a seller in Warwick on where to set the asking price, an agent grounds the recommendation primarily in what similar homes have recently sold for in the same area rather than the seller's personal wishes. Which basis is guiding this pricing recommendation?
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