So you think you’re a novice Realtor? Test your knowledge of real estate with these trivia questions.
1. Warren Buffet, who is worth an estimated $71.8 billion, still lives in the same house he bought in 1958 for _____? $31,500; $10,200; $54,950; $79,400.
2. True or false: Brass doorknobs disinfect themselves.
3. In Scotland, homeowners paint their front door red when they ______. Buy their first home; have their firstborn child; pay off their mortgage; purchase it for rental property.
4. In which state is it a legal requirement for sellers to disclose if the property being sold is “haunted by ghosts?” Texas; Oregon; New York; South Carolina.
5. With the use of pre-fabricated modules, some 30-story skyscrapers in China can be built in _____ days. 15 days; 15 weeks; 30 days; 15 hours.
6. There is enough water in _______ to flood all of North and South America up to a depth of one foot. Lake Loch Ness; Lake Michigan; Lake Superior; Lake Ontario.
7. Which state has banned all outdoor advertising billboards in order to preserve beauty? Wyoming; Rhode Island; New Jersey; Alaska.
8. True or false: You can purchase one acre of the moon for under $20.
9. The typical size home in many developing countries is _____ square feet. 75; 250; 500; 750.
10. From what language comes the all-important real estate term “mortgage,” where it means “dead pledge?” Italian; German; Spanish; French.
ANSWERS: 1. $31,500. Even though Buffet, 82, is recognized as the world’s third richest man, with a fortune of $46 billion, the “Wizard of Omaha” still lives in the same modest, well-kept gray stucco home he purchased in 1958 for $31,500. There is no gate, no security guard and no surveillance cameras protecting the home, and it was last assessed as being worth $700,000. 2. True. So maybe you should think twice before switching to the currently popular brushed nickel or oil-rubbed bronze. 3. When they pay off their mortgage. 4. New York. 5. 15 days.Having already set the record of erecting a 15-story building in one week, Chinese construction company Broad Group decided to take it up a notch and assemble a 30-story hotel in just 15 days. According to Australian news site NEWS.com.au, the construction of a hotel, near Dongting Lake in the Hunan Province, took 200 workers. To expedite the process, sections of the building were prefabricated in factories and shipped to the site before construction, the news site wrote. Check out the time-lapse video at www.cnet.com/news/chinese-build-skyscraper-in-just-15-days. 6. Lake Superior. 7. Alaska, along with Vermont, Hawaii, and Maine. 8. True. According to lunarregistry.com, “Nothing could be greater than your own crater!” 9. A mere 75 square feet. So you thought your house was too small? 10. French. For all intents and purposes, a mortgage is a fancy term for a loan. A creditor, normally a bank, purchases property for a debtor and holds the title until completion of payment on that debt. Typically, a great deal of interest is accrued on a mortgage. Fortunately, there is a tax write-off on the payment of this interest in the U.S. and other countries.
So you think you’re a novice Realtor? Test your knowledge of real estate with these trivia questions.
1. Warren Buffet, who is worth an estimated $71.8 billion, still lives in the same house he bought in 1958 for _____? $31,500; $10,200; $54,950; $79,400.
2. True or false: Brass doorknobs disinfect themselves.
3. In Scotland, homeowners paint their front door red when they ______. Buy their first home; have their firstborn child; pay off their mortgage; purchase it for rental property.
4. In which state is it a legal requirement for sellers to disclose if the property being sold is “haunted by ghosts?” Texas; Oregon; New York; South Carolina.
5. With the use of pre-fabricated modules, some 30-story skyscrapers in China can be built in _____ days. 15 days; 15 weeks; 30 days; 15 hours.
6. There is enough water in _______ to flood all of North and South America up to a depth of one foot. Lake Loch Ness; Lake Michigan; Lake Superior; Lake Ontario.
7. Which state has banned all outdoor advertising billboards in order to preserve beauty? Wyoming; Rhode Island; New Jersey; Alaska.
8. True or false: You can purchase one acre of the moon for under $20.
9. The typical size home in many developing countries is _____ square feet. 75; 250; 500; 750.
10. From what language comes the all-important real estate term “mortgage,” where it means “dead pledge?” Italian; German; Spanish; French.
ANSWERS: 1. $31,500. Even though Buffet, 82, is recognized as the world’s third richest man, with a fortune of $46 billion, the “Wizard of Omaha” still lives in the same modest, well-kept gray stucco home he purchased in 1958 for $31,500. There is no gate, no security guard and no surveillance cameras protecting the home, and it was last assessed as being worth $700,000. 2. True. So maybe you should think twice before switching to the currently popular brushed nickel or oil-rubbed bronze. 3. When they pay off their mortgage. 4. New York. 5. 15 days.Having already set the record of erecting a 15-story building in one week, Chinese construction company Broad Group decided to take it up a notch and assemble a 30-story hotel in just 15 days. According to Australian news site NEWS.com.au, the construction of a hotel, near Dongting Lake in the Hunan Province, took 200 workers. To expedite the process, sections of the building were prefabricated in factories and shipped to the site before construction, the news site wrote. Check out the time-lapse video at www.cnet.com/news/chinese-build-skyscraper-in-just-15-days. 6. Lake Superior. 7. Alaska, along with Vermont, Hawaii, and Maine. 8. True. According to lunarregistry.com, “Nothing could be greater than your own crater!” 9. A mere 75 square feet. So you thought your house was too small? 10. French. For all intents and purposes, a mortgage is a fancy term for a loan. A creditor, normally a bank, purchases property for a debtor and holds the title until completion of payment on that debt. Typically, a great deal of interest is accrued on a mortgage. Fortunately, there is a tax write-off on the payment of this interest in the U.S. and other countries.