Barney Fletcher Test Review Q&A Latest Update

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Barney Fletcher Test Review | Q&A Latest 2025/2026 | 100% PASS 1. Open Listing (Non-Exclusive) - Answer -May be given to many brokers. Only the broker who is the "procuring cause" gets paid. 2. Truth in Lending Act (Regulation Z) - Answer -Requires meaningful disclosure of cost of credit including APR (Annual Percentage Rate). 3. Trust Accounts - Answer -Holding valuables for others; Commingling-illegal mixing trust funds and own private funds; Can't be used for broker purposes; Can't be seized to use for Firm needs; Broker must complete monthly reconciliation and hold statements for 3 years. Broker can have more than 1 account. 4. Market Data Approach to Value - Answer -Value estimate based on comparable comps; Adj factors: Market Conditions, Location, Physical Characteristics, Financing. Making adjustments: Subtracts or Add to be more like SUBJECT Property "Steel from reach" - if Future Comp more desirable than Subject, then SUBTRACT from value from sale price of COMP "give to poor" If Future Comp less desirable than subject, then ADD value to comp. Residential- 3.8 Comps. Not avg- Weight Adj Value X Confidence Factor=Value INCOME Approach -CAP RATE- —- PGI-VAC-OPER Loss= NOI NOI:% Rate=Value Property NOI:Value=% Rate.