1. Which of the following characteristics influence the value of real estate? a. Location b. Size c. Scope of conveyed rights d. All of the above 2. In which way does the real estate market not diverge from the perfect market? a. Perfect information b. Homogenous goods c. Big number of (potential) buyers and sellers d. No transaction costs 3. Who has to sign a deed? a. the grantee b. the grantor C. A judge d. All of the above 4. Once general liens such as property tax, assessment, and CDD liens have been addressed in the case of default, the priority sequence for processing the remaining liens on the property is determined by the: a. relative size of the liens in dollar terms. b. relative reputation of the entity that established the lien. c. relative complexity of the structure of the lien. d. relative timing of the establishment of the lien.5. The "highest-quality" form of deed is the: a. quitclaim deed. b. general warranty deed. c. judicial deed. d. deed of bargain and sale. 6. Who owns a section of a real estate property that is subject to an easement? a. The owner of the servient parcel b. The owner of the dominant parcel C. A trustee representing the shared interest of both parties d. Not clear, depends on the content of the easement 7. A comparable property sold 4 months ago for $287,000. If the appropriate adjustment for market conditions is -0.50% per month (without compounding), what would be the adjusted price of the comparable property assuming all else is the same between the two properties? a. $285.565.00 b. $281,260.00 c. $292,740.00 d. $269,780.00 8. What must be true when we can observe a transaction price? a. Seller and buyer estimate the same investment value for the property. b. The buyer estimates an investment value that is as high as or higher than the investment value the seller had estimated. c. The seller estimates an investment value that is as high as or higher than the investment value the buyer had estimated. d. Seller and buyer estimate the same market value for the property. 9. Which of the following is not an approach to calculate the market value of a property? a. cost approach b. income approach c. sales comparison approach d. investment approach 10. For the purpose of property taxes, it is necessary to calculate several values and taxation rates. How can you calculate the taxable value? a. Calculate the value a neutral buyer would be willing to pay for the real estate. b. Calculate the amount of money the tax levying entities need to cover their budget. c. Multiply the estimated market value with the assessment rate. d. Divide the paid taxes by the real market value