Smarter Decisions Begin With Smarter Insights  
Home Personal Solutions Business Solutions Job Security Index Economic Health Index About Us Careers
 
 
Take Test Sign In View Results
Page 1 of 8

What is your Real Estate IQ?
Real Estate continues to be one of the hottest business opportunities in the country, and like any other field of business, real estate has developed its own language, rules, and practices. The Real Estate IQ Test is designed to assess how much you know about real estate investing, property law, and the ins and outs of buying and selling property. While most people think of real estate as a place to live, this test covers a much broader range of realty-related topics, from basic terminology used in buying a first home to advanced real estate investment techniques.
1.   A real estate agent offers to sell my house for me. What would be a typical commission I should expect to pay for this service?
     3%
     6%
     9%
     12%
 
2.   I am shopping for a house, and I spend several weeks working with a real estate broker who shows me many properties, arranges visits, and provides helpful advice. I eventually buy one of these houses. How much commission do I personally owe him for his work in helping me find a home?
     0%
     4%
     6%
     9%
 
3.   A real estate agent tells you that he can give you a special deal: if you agree to pay him his full commission, he will give you a “rebate” of $1,000 when the sale closes. Is this type of deal legal?
     Yes
     No
     Only if the rebate is less than $1,500
     Legal in some states, illegal in others
 
4.   Which computer system is commonly used by real estate agents to list and search for real property?
     Multiple Listing Service (MLS)
     Automated Listing Service (ALS)
     Real Estate Listing Service (RELS)
     Property Listing Service (PLS)
 
5.   You buy a house in order to reduce your federal income taxes. When you itemize your deductions, which part or parts of your home expense can you generally take as a deduction?
     The full amount you sent to your mortgage company during the year
     The interest portion of your monthly payments
     The interest and insurance portions of your monthly payments
     The principle portion of your monthly payments
 
Users currently online:
Members + Visitors : 8
Home | About Us | Business Solutions | Privacy Policy | Terms of Use | Contact Us | Advertise | Feedback | ScoreLogix India
ScoreLogix Job Security Index | ScoreLogix Local Economic Health Index