1. To speed up the process of surveying, surveyors use brass metal plates to record important information. The benchmarks, as they are called, are used to save time so surveyors do not have measure the datum plane each time. Benchmarks refer to what standard of measurement?

   • Square footage of an acre
   • Feet above sea level
   • Square yardage of a cube
   • Feet above the earth

2. Jane recently purchased a house using a home loan. Her home loan is a fixed-rate, 30-year loan. When will Jane's interest payment be the highest?

   • Her first loan payment will have the highest interest payment. The amount paid in interest will then decrease with each monthly loan payment.
   • The amount she pays in interest each month will always be the same.
   • Her highest interest payment will occur when she sells the property.
   • Her final loan payment will have the highest interest payment.

3. James sold his home for $379,000. If the real estate commission was 5.5%, how much commission did he have to pay?

   • $20,845 to the listing broker.
   • $45,845 to the listing agent.
   • $20,845 to the buyer's broker.
   • $10,422.50 to the listing broker and $10,422.50 to the selling broker.

4. A condo is purchased for $110,000 with a loan for $85,000. If the interest rate was 3% with 3 discount points. What did the lender charge for the points?

   • $3,350 (Dollars)
   • $5,520 (Dollars)
   • $4,150 (Dollars)
   • $2,550 (Dollars)

5. An office building has an effective gross income of $1,240,000. The operating expenses are $460,000, and the amount paid in mortgage payments equals $380,000 per year. What is the net operating income of the property?

   • $400,000. The yearly mortgage payments must be factored into the NOI.
   • $780,000. Mortgage payments are not factored into the NOI.
   • $860,000. The NOI always equals the effective gross income minus the yearly mortgage payments.
   • $1,240,000. The NOI always equals the effective gross income.