REAL ESTATE SALESPERSON LICENSE
EXAM | CORRECT ANSWERS WITH
RATIONALES. A+ GUARANTEED
SUCCESS
1. Which of the following is required for a real estate
salesperson to legally practice?
A. A broker’s license
B. A salesperson license and sponsorship by a broker
C. A notary public certificate
D. An attorney license
Answer: B
Rationale: A real estate salesperson must be licensed and
work under the supervision of a licensed broker.
2. Which agency relationship exists when a broker
represents a seller in a transaction?
A. Buyer’s agent
B. Dual agent
C. Seller’s agent
D. Transaction broker
,Answer: C
Rationale: The broker is acting on behalf of the seller to
market the property and negotiate terms.
3. A property listed at $250,000 sells for $240,000. If the
broker’s commission rate is 6%, what is the commission
earned?
A. $14,400
B. $15,000
C. $14,000
D. $13,500
Answer: A
Rationale: Commission = 6% of $240,000 = 0.06 × 240,000 =
$14,400
4. What is a fiduciary duty in real estate?
A. Duty to disclose all offers to the agent
B. Duty of loyalty, obedience, disclosure, confidentiality,
and accounting to the client
C. Duty to pay taxes
D. Duty to advertise the property
,Answer: B
Rationale: Fiduciary duty includes loyalty, obedience,
disclosure, confidentiality, and accounting toward the
client.
5. Which document is used to transfer ownership of real
property?
A. Lease agreement
B. Deed
C. Listing agreement
D. Mortgage
Answer: B
Rationale: A deed is the legal document that conveys title
from the seller to the buyer.
6. Which type of ownership allows two or more individuals to
have equal, undivided interest with right of survivorship?
A. Tenancy in common
B. Joint tenancy
C. Community property
D. Sole ownership
, Answer: B
Rationale: Joint tenancy includes equal ownership and right
of survivorship.
7. A salesperson may legally accept a commission check
from:
A. The buyer only
B. Their employing broker only
C. Either buyer or seller
D. The title company
Answer: B
Rationale: Salesperson must be paid through their broker;
direct payment from a client is prohibited.
8. Which is an example of a material fact that must be
disclosed?
A. Neighborhood aesthetics
B. Structural foundation issues
C. Nearby grocery stores
D. Landscaping choices
EXAM | CORRECT ANSWERS WITH
RATIONALES. A+ GUARANTEED
SUCCESS
1. Which of the following is required for a real estate
salesperson to legally practice?
A. A broker’s license
B. A salesperson license and sponsorship by a broker
C. A notary public certificate
D. An attorney license
Answer: B
Rationale: A real estate salesperson must be licensed and
work under the supervision of a licensed broker.
2. Which agency relationship exists when a broker
represents a seller in a transaction?
A. Buyer’s agent
B. Dual agent
C. Seller’s agent
D. Transaction broker
,Answer: C
Rationale: The broker is acting on behalf of the seller to
market the property and negotiate terms.
3. A property listed at $250,000 sells for $240,000. If the
broker’s commission rate is 6%, what is the commission
earned?
A. $14,400
B. $15,000
C. $14,000
D. $13,500
Answer: A
Rationale: Commission = 6% of $240,000 = 0.06 × 240,000 =
$14,400
4. What is a fiduciary duty in real estate?
A. Duty to disclose all offers to the agent
B. Duty of loyalty, obedience, disclosure, confidentiality,
and accounting to the client
C. Duty to pay taxes
D. Duty to advertise the property
,Answer: B
Rationale: Fiduciary duty includes loyalty, obedience,
disclosure, confidentiality, and accounting toward the
client.
5. Which document is used to transfer ownership of real
property?
A. Lease agreement
B. Deed
C. Listing agreement
D. Mortgage
Answer: B
Rationale: A deed is the legal document that conveys title
from the seller to the buyer.
6. Which type of ownership allows two or more individuals to
have equal, undivided interest with right of survivorship?
A. Tenancy in common
B. Joint tenancy
C. Community property
D. Sole ownership
, Answer: B
Rationale: Joint tenancy includes equal ownership and right
of survivorship.
7. A salesperson may legally accept a commission check
from:
A. The buyer only
B. Their employing broker only
C. Either buyer or seller
D. The title company
Answer: B
Rationale: Salesperson must be paid through their broker;
direct payment from a client is prohibited.
8. Which is an example of a material fact that must be
disclosed?
A. Neighborhood aesthetics
B. Structural foundation issues
C. Nearby grocery stores
D. Landscaping choices
