CORRECT ANSWERS|LATEST !!!!2026|GRADED
According to fair housing, which of these is not a protected class?
A. muslim
B. arab
C. homosexual
D. single mother - ANSWER C. homosexual
The front door key to a house is:
A. chattel
B. fixture
C. improvement
D. trade fixture - ANSWER B. fixture
The phrase "bundle of legal rights" is properly included in:
A. the definition of real property
B. a legal description
C. real estate transactions
D. leases for less than one year - ANSWER A. the definition of real property
An estate at will:
1
,A. cannot be terminated
B. is terminated only if stated in the else's last will and testament
C. terminates on the death of the lessor or lessee
D. terminates on the date specified in the lease agreement - ANSWER C. terminates
on the death of the lessor or lessee
Which of the following is an essential element of a valid contract for the sale of real estate?
A. price based on certified appraisal
B. signature of the listing broker
C. offer and acceptance
D. social security number of buyer and seller - ANSWER C. offer and acceptance
The HUD-1 statement will still be used for a mortgage secured by a:
A. conventional loan used to purchase a single-family dwelling
B. single-family dwelling financed by an FHA-insured loan
C. a duplex, in which the purchaser will live, financed by a VA-guarenteed loan
D. reverse mortgage - ANSWER D. reverse mortgage
Which of the following is a lien that does NOT have to be recorded?
A. money judgement
B. real estate taxes
C. a tax deed
D. a voluntary lien - ANSWER B. real estate taxes
2
, Whether a salesperson is associated with a broker as an employee or as an independent
contractor is important:
A. for income tax purposes
B. when applying for a license
C. when listing property, because and independent contractor may list in her own name
D. when establishing the escrow account - ANSWER A. for income tax purposes
Jane Smith gave the hospital a vacant lot for "as long as it is used for hospital purposes". The
hospital owns a:
A. fee determinable
B. remainder interest
C. homestead
D. leasehold estate - ANSWER A. fee determinable
Which of the following situations will NOT delay closing under TRID rules?
A. escrow amount for taxes and insurance was changed
B. lender could not document applicant's overtime
C. applicant decided on a different loan program
D. prepayment penalty was added - ANSWER A. escrow amount for taxes and
insurance was changed
Federal income tax regulations allow a homeowner to reduce taxable income by amounts
paid for:
3
According to fair housing, which of these is not a protected class?
A. muslim
B. arab
C. homosexual
D. single mother - ANSWER C. homosexual
The front door key to a house is:
A. chattel
B. fixture
C. improvement
D. trade fixture - ANSWER B. fixture
The phrase "bundle of legal rights" is properly included in:
A. the definition of real property
B. a legal description
C. real estate transactions
D. leases for less than one year - ANSWER A. the definition of real property
An estate at will:
1
,A. cannot be terminated
B. is terminated only if stated in the else's last will and testament
C. terminates on the death of the lessor or lessee
D. terminates on the date specified in the lease agreement - ANSWER C. terminates
on the death of the lessor or lessee
Which of the following is an essential element of a valid contract for the sale of real estate?
A. price based on certified appraisal
B. signature of the listing broker
C. offer and acceptance
D. social security number of buyer and seller - ANSWER C. offer and acceptance
The HUD-1 statement will still be used for a mortgage secured by a:
A. conventional loan used to purchase a single-family dwelling
B. single-family dwelling financed by an FHA-insured loan
C. a duplex, in which the purchaser will live, financed by a VA-guarenteed loan
D. reverse mortgage - ANSWER D. reverse mortgage
Which of the following is a lien that does NOT have to be recorded?
A. money judgement
B. real estate taxes
C. a tax deed
D. a voluntary lien - ANSWER B. real estate taxes
2
, Whether a salesperson is associated with a broker as an employee or as an independent
contractor is important:
A. for income tax purposes
B. when applying for a license
C. when listing property, because and independent contractor may list in her own name
D. when establishing the escrow account - ANSWER A. for income tax purposes
Jane Smith gave the hospital a vacant lot for "as long as it is used for hospital purposes". The
hospital owns a:
A. fee determinable
B. remainder interest
C. homestead
D. leasehold estate - ANSWER A. fee determinable
Which of the following situations will NOT delay closing under TRID rules?
A. escrow amount for taxes and insurance was changed
B. lender could not document applicant's overtime
C. applicant decided on a different loan program
D. prepayment penalty was added - ANSWER A. escrow amount for taxes and
insurance was changed
Federal income tax regulations allow a homeowner to reduce taxable income by amounts
paid for:
3
