Real Estate License Exam A+ Grade Assured Complete Solutions And Verified Answers

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Exam Solution +t




Real Estate Final Exam (150 Questions ) #1 2026 A+ GR
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ADE ASSURED COMPLETE SOLUTIONS AND VERIFIED A
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NSWERS (148AD) +t




QUESTION 1 +t




A real estate licensee has a buyer agency agreement. What is the seller in this situation?
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ANSWER

A customer.
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QUESTION 2 +t




An optionor and an optionee make a contract for an option on a commercial piece of pro
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perty. If the optionee decides to exercise his option, when must he perform?
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ANSWER

He must exercise his option under the terms of the option contract.
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QUESTION 3 +t




When can a landlord evict a disabled blind or disabled tenant from the premises?
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ANSWER

If the tenant has loud parties, makes too much noise, and is constantly disturbing other tenants
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QUESTION 4 +t




4. Broker Carr, with ABC Real Estate Company, listed the property with a seller. Broker S
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mith, with XYZ Real Estate Company, called Broker Carr, and disclosed that he was a Buy
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er Agent. Broker Smith wrote a contract with a buyer for the sale of the property. What,
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if any, is the relationship between the buyer's broker, the seller and the listing broker?
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ANSWER

,There is not a relationship between the parties. Broker Carr represents the Seller and Broker Smith rep
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resents the Buyer. +t +t




QUESTION 5 +t




A buyer bought a property without telling the seller of his intended purpose for the prop
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erty. The contract contains no contingency clauses and it is a properly executed contract
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. After the closing, the buyer is unable to obtain the zoning he needs for his commercial
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project. What is the contract at this stage? +t +t +t +t +t +t +t




ANSWER

Enforceable



QUESTION 6 +t




A seller listed his home for six months on February 26. On April 29, a buyer made an off
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er on the property. The listing broker presented the offer to the seller on April 30. The s
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eller accepted the offer on May 1, with the closing to occur on June 15. Assuming the clos
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ing took place on June 15, when did the listing expire?
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ANSWER

6/15



QUESTION 7 +t




The seller and the buyer agreed to a purchase price of $270,000 with the closing to occu
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r on June 15. The seller's loan balance after the June 1 payment was $170,000. with an i
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nterest rate of 6%.The monthly payment was $1,800 principal and interest. What was th
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e loan balance the day of closing, and how much interest did the seller owe the bank?
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ANSWER

Loan balance $170,000; interest due $425
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QUESTION 8 +t




The buyer and seller agreed to a purchase price of $310,500. The buyer received an 80
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% loan. How much was the buyer's loan and how did it appear on the settlement statem
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ent?
ANSWER

$ 248,400. Credit the buyer only.
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QUESTION 9 +t

, The seller under a land contract is called
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ANSWER

The vendor +t




QUESTION 10 +t




On an 8% straight term loan of $6,071, the borrower paid total interest of $1,700. How l
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ong did he have the loan?
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ANSWER

42 months
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QUESTION 11 +t




Are recording fees and title insurance premiums part of the Truth in Lending statement?
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ANSWER

No, These are considered legal, not financing fees and therefore are not part of the Truth in Lending sta
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tement.



QUESTION 12 +t




A mortgage broker
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ANSWER

arranges loans between borrowers and investors.
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QUESTION 13 +t




The Smiths' purchased a residence for $750,000. They made a down payment of $150,00
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0 and agreed to assume the seller's existing mortgage, which had a current balance of $2
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30,000. The Smiths' financed the remaining $370,000 of the purchase price by executing
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a second mortgage whereby the seller became a mortgagee. This type of loan is called a
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ANSWER

part purchase mortgage
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QUESTION 14 +t




On a $500,000 loan the borrower is required to pay two points. How much does the borr
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ower have to pay the lender?
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