Unit 15 Practice Exam Copy

Real estate is influenced by changes in nearby land uses because of

The qualities of immobility and uniqueness that give value to a parcel of land is called the land’s

Highest and best use is determined by

The term used to show that no two parcels of real estate are identical is

Which is correct about the economic characteristics of real estate?

What factor of real estate is an inverse influence on demand?

Which is a factor that affects the supply of real estate?

At which occupancy rate is the market said to be in balance?

If there is an oversupply of homes in a neighborhood

Assume a small city has 78,500 total houses. If 68,400 are occupied, which is correct?

MLS records show that 4,945 houses were sold last year. A real estate brokerage firm had 834 of those sales, so its market share is

Which is NOT correct?

If the occupancy rate in an area is 75%, which is NOT correct?

Appraisers who are estimating the supply of apartments need to consider those homes currently on the market and

An appraiser who is evaluating market activity in an area finds that prices are increasing. This indicates