Real Estate Knowledge Assessment Form
Evaluate your understanding of key real estate concepts, practices, and terminology. Please respond honestly to each question.
Which of the following best describes a 'buyer's market'?
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More properties for sale than buyers
More buyers than properties for sale
Stable prices and equal supply and demand
Government intervention in pricing
What is the primary purpose of an escrow account in real estate transactions?
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Hold funds safely until conditions are met
Pay real estate agent commissions
Reduce property taxes
Finance home improvements
Which document typically transfers ownership of real property?
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Deed
Lease
Mortgage
Appraisal report
How confident are you in your understanding of current real estate market trends?
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1
2
3
4
5
Rate your familiarity with the following real estate topics:
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Rows
Not familiar
Somewhat familiar
Very familiar
Property valuation
1
2
3
Real estate contracts
4
5
6
Financing options
7
8
9
Local zoning laws
10
11
12
Which of the following is considered a type of real estate investment?
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REITs (Real Estate Investment Trusts)
Savings bonds
Stock options
Cryptocurrency
Which party is typically responsible for paying closing costs in a real estate transaction?
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Buyer
Seller
Both buyer and seller
Real estate agent
What is the main advantage of using a real estate agent when buying or selling property?
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Expertise in negotiations and paperwork
Ability to provide home loans
Setting property tax rates
Performing home inspections
Which of these best describes 'equity' in real estate?
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The value of ownership interest in a property
The total mortgage balance
The amount paid in property taxes
The cost of home insurance
Describe any real estate experience or coursework you have completed (optional):
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