1. Joanna Bruno bought a house for $120,000, putting 20% down and borrowing the rest with a conventional loan. At the end of the first year, her principal had been paid down by $480, and property values in the area had risen by 6%. Her equity at the end of that first year was

2. In determining the market value of the subject property, which of the following would be of most importance?

3. Laura Murphy is buying a new home for $193,000. She makes a $40,000 down payment and finances the balance with a 7.5% 30-year conventional loan. The factor for repayment is $7.00 per thousand. After making the first payment, what is the remaining balance on Laura's loan?

4. Clients are liable for errors made by brokers or subagents by

5. A subdivider must place in the public records a map of the property known as a

6. The term ''walk-through refers to"

7. Steering, prohibited by fair housing laws, is the practice of

8. A promise in exchange for a promise supported by consideration is the basis for

9. After a riot provoked by the arrest of a member of a racial minority, Broker Bill decided that, with a recent rise in the number of immigrants in the neighborhood, the time was right to encourage residential property owners to list and sell their property through his firm. Broker Bill decided that, by selling as many properties as possible quickly and cheaply, he could bring in companies that would make good use of the neighborhood's new commercial zoning classification. Broker Bill's action is

10. A good source of data for preparation of a CMA is the

11. The residence replacement rule

12. An appraisal made as part of a federally related transaction may require

13. When advertising credit terms in conjunction with the sale of a house, the broker mentions the amount of the monthly payment. The broker must also include all of the following pieces of information EXCEPT the

14. Office space is usually rented by the

15. The formula for determining value of investment property is

16. To increase the effective yield on a $250,000 loan by 1/4% when one discount point is equivalent to an increase in the APR of 1/8%, how much would the lender collect at settlement in loan discount?

17. Which of the following pieces of information relating to a property requires disclosure to interested buyers or tenants?

18. Brokers typically choose to take on associate licensees as independent contractors so that the broker

19. A buyer contracts for a property and negotiates a purchase price of $250,000. With a 20% down payment, he has no problem obtaining a 30-year conventional loan for the balance. At 8%, full amortization requires a monthly payment of $7.34 per thousand. If the lender adds another $250 per month for escrows, what will the buyer pay each month?

20. At the typical closing, the seller is responsible for providing all of the following EXCEPT

21. The approach to value that considers depreciation is the

22. Real estate salespersons are most likely to work as

23. If the lease states that the landlord will provide heat, the tenant whose apartment is freezing may break the lease claiming

24. The California law that prohibits discrimination by business establishments is the

25. The Federal Reserve influences the real estate market by its control of