Principal of Real Estate II Practice Exam with correct answers 100% 2025/2026

Principal of Real Estate II Practice Exam with correct answers 100% 2025/2026 The real estate exam consists of 110 questions, 80 on the national portion of the test and 30 on the Texas portion of the test. A. True B. False - Correct Answer A. True The difference between the market value of a property and the sum of the liens against it is called: A. the equity B. due on sale C. the assessment D. the loan-to-value ratio - Correct Answer A. the equity Which of the following are public restrictions on the use of real property? A. zoning laws B. condominium bylaws C. restrictive covenants D. deed restrictions Next question - Correct Answer A. zoning laws The Statute of Frauds is a law that requires some documents, including deeds, be in writing and signed in order to be enforceable in a court of law. A. True B. False - Correct Answer A. True A competitive Market Analysis (CMA) is most often prepared by a/an: A. inspector B. lender C. real estate agent D. appraiser - Correct Answer C. real estate agent Which of the following results from factors outside the property? A. functional obsolescence B. physical deterioration C. economic obsolescence D. curable depreciation - Correct Answer C. economic obsolescence Karl signed a one-year lease on an apartment with a rental agency. He sublet the apartment to Kurt, who defaulted on the sublease. Any action entered by the landlord would be against: A. Karl B. Kurt C. both Karl and Kurt D. the rental agent - Correct Answer A. Karl A blanket mortgage is: A. only for people over 68. B. for only one property owned by the homeowner. C. always used to finance a vacation rental. D. a mortgage that covers more than one property. - Correct Answer D. a mortgage that covers more than one property. If two parcels are combined into one larger parcel that is worth more than the total value of the individual parcels, that added value is called: A. adage