Real Estate U Final Exam Study Guide
(2026) | 100% Correct Answers | A+
• Which is a void contract? -✓✓A contract involving a minor
• Radon can be found in any building, but also in... -✓✓Well water
• If nearby properties have a lower value than the property being
appraised, which principal of valuation may cause the property to be
appraised at a lower value? -✓✓The principal of comparability
• if a licensee plans to own and manage their property, what would they
be wise to do? -✓✓set a personal escrow acct. to handle tenant funds
• a trust/escrow acct. must be a properly designated demand deposit
bank acct., must be marked as a "trust" or "escrow" acct. How else must
it be designated? -✓✓Must include businesses name.
• To calculate taxes paid per diem, you divide the amount paid in annual
property taxes by -✓✓365 days, 366 in a leap year.
• what is one benefit for a property owner of entering into an options
contract with a potential buyer? -✓✓Owner will receive a guaranteed
fee from the buyer.
, • UFFI isn't easily to visually detect in a home because its usually in
hard-to-reach places and -✓✓it slowly releases formaldehyde
• which is responsible for setting the base/primate interest rate? -
✓✓Federal Reserve
• what loan is typically the riskiest for homeowners? -✓✓Interest-Only
• After paying off a mortgage, the largest expense for the seller at
closing is typically the -✓✓Realtor's commission
• what is the most common type of loan used to purchase real property?
-✓✓Conventional Loans
• the most common times when a deed wouldn't be recorded are times
like a private ownership and... -✓✓when not registered w/ appropriate
public records departments
• 2 realty offices agree to only operate in designated neighborhoods in an
effort to reduce competition. this anti-trust violation is an example of -
✓✓Market Allocation
• Can a company use company policies to prove industry compliance? -
✓✓Yes
(2026) | 100% Correct Answers | A+
• Which is a void contract? -✓✓A contract involving a minor
• Radon can be found in any building, but also in... -✓✓Well water
• If nearby properties have a lower value than the property being
appraised, which principal of valuation may cause the property to be
appraised at a lower value? -✓✓The principal of comparability
• if a licensee plans to own and manage their property, what would they
be wise to do? -✓✓set a personal escrow acct. to handle tenant funds
• a trust/escrow acct. must be a properly designated demand deposit
bank acct., must be marked as a "trust" or "escrow" acct. How else must
it be designated? -✓✓Must include businesses name.
• To calculate taxes paid per diem, you divide the amount paid in annual
property taxes by -✓✓365 days, 366 in a leap year.
• what is one benefit for a property owner of entering into an options
contract with a potential buyer? -✓✓Owner will receive a guaranteed
fee from the buyer.
, • UFFI isn't easily to visually detect in a home because its usually in
hard-to-reach places and -✓✓it slowly releases formaldehyde
• which is responsible for setting the base/primate interest rate? -
✓✓Federal Reserve
• what loan is typically the riskiest for homeowners? -✓✓Interest-Only
• After paying off a mortgage, the largest expense for the seller at
closing is typically the -✓✓Realtor's commission
• what is the most common type of loan used to purchase real property?
-✓✓Conventional Loans
• the most common times when a deed wouldn't be recorded are times
like a private ownership and... -✓✓when not registered w/ appropriate
public records departments
• 2 realty offices agree to only operate in designated neighborhoods in an
effort to reduce competition. this anti-trust violation is an example of -
✓✓Market Allocation
• Can a company use company policies to prove industry compliance? -
✓✓Yes
