31. Lenders charge a loan origination fee to

A. guard against charges of usury

B- guard against losses in the event of a short sale

C. cover the losses involved if the borrower repays the loan before the end of the loan term.

D. cover the expenses involved in generating the loan

32. According to the Fair Housing Act, what is steering?

A. Channeling of protected class members to certain buildings or neighborhoods

B. A method of providing reasonable accommodation for people with disabilities

C. Encouraging people to rent or sell by claiming that certain protected classes of people will have a negative impact on property values

D. An appropriate method to manage risks associated with rental property ownership

33. Of these, a HIGH vacancy rate most likely indicates ll

A. rental rates are too low

B. building management is effective and responsive

C. an undesirable property

D. the property is attractive

34. Which of these approaches is usually given the greatest weight by an appraiser when reconciling the appraised value of a two-bedroom, owner-occupied home?

A. Market value approach

B. Cost approach

C. Sales comparison approach

D. Income approach

36. What kind of listing agreement is illegal in many states because of the potential for con?ict of interest between a broker's ?duciary responsibility to the seller and the broker's pro?t motive?

A. Net listing

B. Open listing

C. Exclusive-agency listing

D. Exclusive-right-to-sell

37. A tenant pays for his own utilities and makes one payment each month to the landlord, and the landlord pays the taxes, insurance on the building, and maintenance. What type of lease arrangement is this?

A. A Net

B. Percentage

C. Gross

38. A property manager's ?rst responsibility to the owner should be to

A. ensure that the rental rates are below market average

B. keep the building's occupancy rate at 100%.

C. report all day-to-day ?nancial and operating decisions to the owner on a regular basis.

D. realize the highest return possible consistent with the owner's instructions