DELAWARE REAL ESTATE UPDATED
ACTUAL QUESTIONS AND CORRECT
ANSWERS COMPLETE STUDY GUIDE
RESOURCE
●● Conducting Audits
Answer: Name something the DE Commission has the power to do
●● 9
Answer: How many members are appointed to the Delaware Real Estate
Commission?
●● The governor
Answer: Who appoints members to the Delaware Real Estate
Commission?
●● 1
Answer: How many escrow accounts are brokers required to maintain in
the firm's name at a federally insured financial institution with offices in
Delaware?
●● CMA
,Answer: What service are all real estate licensees permitted to perform
for clients to assess a property's value?
●● At least 10 feet from the edge of a public road
Answer: In Delaware, which of these is a legal spot to place a sign
advertising one of your listings?
●● 3 years
Answer: How long does a brokerage have to retain escrow accounting
for?
●● Immediately after the estimated price
Answer: Where must the disclosure pertaining to CMAs that begins,
"Notwithstanding any language to the contrary contained herein, this
Competitive Market Analysis is NOT an appraisal ..." be listed on the
CMA?
●● Broker
Answer: Katy's in charge of all the real estate activities at Katy-Did
Realty in Delaware. What license does she hold?
●● Easement
Answer: What is it called when one party has the right to use land
owned by another party for a special purpose?
, ●● Voluntary
Answer: Hope's mortgage created a lien against the property she
purchased with the mortgage. What kind of lien is this?
●● The dominant estate owner takes action that shows a clear intent to
stop using the easement.
Answer: What must happen for an easement to be terminated due to
abandonment?
●● Easement, encroachment, Lien
Answer: Name 3 types of encumbrances
●● encroachment
Answer: Justin decided to build a privacy fence around his yard. He
thought the fence was along the property line, but it turns out he built it
one foot inside his neighbor's property. What will an inspector document
as existing on the neighboring property?
●● An agreement between two lien holders to modify the order of lien
priority
Answer: What's a subordination agreement
●● They could trigger a foreclosure
ACTUAL QUESTIONS AND CORRECT
ANSWERS COMPLETE STUDY GUIDE
RESOURCE
●● Conducting Audits
Answer: Name something the DE Commission has the power to do
●● 9
Answer: How many members are appointed to the Delaware Real Estate
Commission?
●● The governor
Answer: Who appoints members to the Delaware Real Estate
Commission?
●● 1
Answer: How many escrow accounts are brokers required to maintain in
the firm's name at a federally insured financial institution with offices in
Delaware?
●● CMA
,Answer: What service are all real estate licensees permitted to perform
for clients to assess a property's value?
●● At least 10 feet from the edge of a public road
Answer: In Delaware, which of these is a legal spot to place a sign
advertising one of your listings?
●● 3 years
Answer: How long does a brokerage have to retain escrow accounting
for?
●● Immediately after the estimated price
Answer: Where must the disclosure pertaining to CMAs that begins,
"Notwithstanding any language to the contrary contained herein, this
Competitive Market Analysis is NOT an appraisal ..." be listed on the
CMA?
●● Broker
Answer: Katy's in charge of all the real estate activities at Katy-Did
Realty in Delaware. What license does she hold?
●● Easement
Answer: What is it called when one party has the right to use land
owned by another party for a special purpose?
, ●● Voluntary
Answer: Hope's mortgage created a lien against the property she
purchased with the mortgage. What kind of lien is this?
●● The dominant estate owner takes action that shows a clear intent to
stop using the easement.
Answer: What must happen for an easement to be terminated due to
abandonment?
●● Easement, encroachment, Lien
Answer: Name 3 types of encumbrances
●● encroachment
Answer: Justin decided to build a privacy fence around his yard. He
thought the fence was along the property line, but it turns out he built it
one foot inside his neighbor's property. What will an inspector document
as existing on the neighboring property?
●● An agreement between two lien holders to modify the order of lien
priority
Answer: What's a subordination agreement
●● They could trigger a foreclosure
