Puerto Rico Real Estate Salesperson
Licensing Exam Practice Questions And
Correct Answers (Verified Answers) Plus
Rationales 2026 Q&A | Instant
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1. A real estate salesperson’s primary fiduciary duty to a client is:
A. To maximize personal commission
B. To act in the client’s best interest
C. To disclose other buyers’ offers only when asked
D. To represent both parties equally without consent
ANSWER: B
Rationale: A real estate agent owes fiduciary duties including loyalty,
care, and acting in the client’s best interest.
2. Which document is used to authorize a broker to act on behalf of a
property owner?
A. Deed
B. Listing agreement
C. Title insurance policy
D. Appraisal report
ANSWER: B
Rationale: A listing agreement is the contract that authorizes the
broker to represent the seller.
3. What type of ownership gives the highest level of control over real
property?
A. Leasehold estate
B. Fee simple absolute
C. Life estate
, D. Tenancy at will
ANSWER: B
Rationale: Fee simple absolute provides full ownership rights with
the least restrictions.
4. A legally enforceable contract must include:
A. Oral agreement only
B. Consideration
C. Witness signatures only
D. Notarization in all cases
ANSWER: B
Rationale: Consideration is required for a valid contract to be
enforceable.
5. Which of the following is a physical characteristic of land?
A. Scarcity
B. Indestructibility
C. Demand
D. Utility
ANSWER: B
Rationale: Land is indestructible, one of its key physical
characteristics.
6. A buyer representation agreement primarily benefits:
A. The seller
B. The buyer
C. The lender
D. The title company
ANSWER: B
Rationale: It establishes fiduciary duties and representation for the
buyer.
7. The document that transfers ownership of real property is called a:
A. Mortgage
B. Deed
C. Lease
D. Survey
ANSWER: B
Rationale: A deed is the legal instrument used to transfer title.
, 8. Which element is NOT required for a valid contract?
A. Offer
B. Acceptance
C. Consideration
D. Recording
ANSWER: D
Rationale: Recording is not required for contract validity, only for
public notice.
9. A mortgage is best defined as:
A. Ownership document
B. Loan secured by real property
C. Rental agreement
D. Tax document
ANSWER: B
Rationale: A mortgage is a security instrument for a loan using
property as collateral.
10. Which appraisal approach compares similar properties?
A. Cost approach
B. Income approach
C. Sales comparison approach
D. Depreciation approach
ANSWER: C
Rationale: The sales comparison approach uses comparable property
sales.
11. The term “encumbrance” refers to:
A. Full ownership
B. A claim or lien on property
C. Property value increase
D. Rental income
ANSWER: B
Rationale: Encumbrances include liens, easements, or restrictions on
property.
12. Which type of listing gives one broker exclusive rights to sell, but
allows the owner to sell independently?
A. Exclusive agency listing
Licensing Exam Practice Questions And
Correct Answers (Verified Answers) Plus
Rationales 2026 Q&A | Instant
Download Pdf
1. A real estate salesperson’s primary fiduciary duty to a client is:
A. To maximize personal commission
B. To act in the client’s best interest
C. To disclose other buyers’ offers only when asked
D. To represent both parties equally without consent
ANSWER: B
Rationale: A real estate agent owes fiduciary duties including loyalty,
care, and acting in the client’s best interest.
2. Which document is used to authorize a broker to act on behalf of a
property owner?
A. Deed
B. Listing agreement
C. Title insurance policy
D. Appraisal report
ANSWER: B
Rationale: A listing agreement is the contract that authorizes the
broker to represent the seller.
3. What type of ownership gives the highest level of control over real
property?
A. Leasehold estate
B. Fee simple absolute
C. Life estate
, D. Tenancy at will
ANSWER: B
Rationale: Fee simple absolute provides full ownership rights with
the least restrictions.
4. A legally enforceable contract must include:
A. Oral agreement only
B. Consideration
C. Witness signatures only
D. Notarization in all cases
ANSWER: B
Rationale: Consideration is required for a valid contract to be
enforceable.
5. Which of the following is a physical characteristic of land?
A. Scarcity
B. Indestructibility
C. Demand
D. Utility
ANSWER: B
Rationale: Land is indestructible, one of its key physical
characteristics.
6. A buyer representation agreement primarily benefits:
A. The seller
B. The buyer
C. The lender
D. The title company
ANSWER: B
Rationale: It establishes fiduciary duties and representation for the
buyer.
7. The document that transfers ownership of real property is called a:
A. Mortgage
B. Deed
C. Lease
D. Survey
ANSWER: B
Rationale: A deed is the legal instrument used to transfer title.
, 8. Which element is NOT required for a valid contract?
A. Offer
B. Acceptance
C. Consideration
D. Recording
ANSWER: D
Rationale: Recording is not required for contract validity, only for
public notice.
9. A mortgage is best defined as:
A. Ownership document
B. Loan secured by real property
C. Rental agreement
D. Tax document
ANSWER: B
Rationale: A mortgage is a security instrument for a loan using
property as collateral.
10. Which appraisal approach compares similar properties?
A. Cost approach
B. Income approach
C. Sales comparison approach
D. Depreciation approach
ANSWER: C
Rationale: The sales comparison approach uses comparable property
sales.
11. The term “encumbrance” refers to:
A. Full ownership
B. A claim or lien on property
C. Property value increase
D. Rental income
ANSWER: B
Rationale: Encumbrances include liens, easements, or restrictions on
property.
12. Which type of listing gives one broker exclusive rights to sell, but
allows the owner to sell independently?
A. Exclusive agency listing
