Challenge Your Exam Readiness With Our Free Real Estate Licensing Practice Questions

Question # 31

Which of the following best describes the principle of “substitution” in real estate appraisal?

Options:

A.

A buyer will not pay more for a property than the cost of an equally desirable substitute

B.

A property’s value increases as more buyers enter the market

C.

Supply and demand do not affect property value

D.

Properties in rural areas always have lower value

Viewing question 31 out of 72 questions
Industry research shows that students who utilize Real Estate Licensing practice tests are significantly more likely to pass exam.


Our free Real Estate Licensing practice questions act as a diagnostic tool to give you a clear snapshot of your Real Estate Licensing readiness. Discover which topics are your strengths and, more importantly, which critical topics require your immediate attention.

Go to Real Estate Licensing Exam Main Page

Real Estate Licensing Overview

Name Real Estate Licensing
Code Real Estate Licensing
Vendor Professional
Certification State Licensing Boards

Real Estate Licensing Questions