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Chapter 15: Real Estate Quiz
Test your knowledge of the real estate chapter material!
1 / 10
A real estate agent and a Realtor are the exact same thing.
The answer can be found on page 166.
Correct! A real estate agent is a person who sells or rents housing or other buildings for clients. They do not have to be a Realtor (note the capital R, as the word is trademarked). Realtors are real estate agents who are members of The National Association of Realtors (also spelled in all capital letters as “REALTOR”).
2 / 10
Which of these is an example of a Government Sponsored Enterprise?
The answer can be found on page 167.
You got it! Freddie Mac and Fannie Mae are quasi-government entities created by Congress to provide public financial services.
3 / 10
Which of these is a trade group in the real estate business that is an excellent source of data and information?
The answer can be found on page 161.
Correct! A few other organizations include the National Association of Realtors, the Associated General Contractors of America, and the Mortgage Bankers Association.
4 / 10
You should never explain trends using indicators that contradict one another.
The answer can be found on page 163.
Correct! Your job is to explain the trends even when indicators are telling different stories. Showing “conflicting signals” is not a crime and will help your readers stay fully informed.
5 / 10
Where is one place you can find standout stories on the real estate beat?
The answer can be found on pages 160-161.
Correct! There are a lot of places you can find out standout stories, including exhibit halls, agent meetings, social media, online, planning commissions, your newspaper, courthouse, model homes, and open houses.
6 / 10
This is the difference between what a borrower owes on a mortgage and what the home is currently valued at.
The answer can be found on page 165.
That's correct!
7 / 10
When speaking with real estate consultants, what is important to know before quoting them?
The answer can be found on page 159.
8 / 10
Which one of these is not a type of mortgage?
The answer can be found on pages 164-167.
That’s correct! There are a variety of mortgage types, but “mammoth” is not one of them.
9 / 10
Real estate is a niche beat that is unlikely to be a newsleader at your publication.
The answer can be found on page 156.
Correct! Everybody needs a roof over their head – even local businesses.
10 / 10
A type of mortgage where a borrower owes more than a property is worth.
Correct! These borrowers are thought to be more susceptible to foreclosure. This is also called being “upside down” for being in “negative equity.”
Your score is
The average score is 90%
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