Question 1
Which of the following is a key characteristic of the real estate market that distinguishes it from highly organized financial markets like the stock exchange?
Correct Answer:
Immobility of the asset and high degree of heterogeneity
Question 2
In estate agency practice, what type of agency relationship is created when an agent is appointed to represent the principal for a single, specific transaction?
Correct Answer:
Special agency
Question 3
When an agent acts without prior authority from a principal, but the principal subsequently approves and adopts the agent's actions, the agency is created by:
Correct Answer:
Ratification
Question 4
Which fiduciary duty requires an estate surveyor and valuer to disclose any personal interest in a property they are instructed to sell and to avoid making secret profits?
Correct Answer:
Duty to act in good faith and loyalty
Question 5
Under Nigerian law, which of the following events automatically terminates an estate agency relationship by operation of law?
Correct Answer:
The death or legal insanity of either the principal or the agent
Question 1
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Prepare with the NIESV FEM Practice Questions - NIESV Foundation in Estate Management, Nigeria Exam practice quiz. This question bank includes 100 questions covering land, property, estate, legal, and primary. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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NIESV FEM Practice Questions - NIESV Foundation in Estate Management, Nigeria Exam

This practice set contains 100 questions from the matching question bank and focuses on land, property, estate, legal, and primary. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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