Rockwell Exam Questions with 100% Correct Answers Latest
Graded A+
Question:
Which of the following is TRUE about the holder of an inactive license? This person: A. may not
perform any acts that require a real estate license B. is technically licensed, and may perform
certain acts that require a real estate license C. can keep the license on inactive status for a
maximum of three years D. must obtain 30 clock hours of real estate instruction prior to each
inactive license renewal
Answer:
A. may not perform any acts that require a real estate license
Question:
A borrower defaults on a mortgage. What does the acceleration clause in the mortgage allow the
lender to do? A. Compel the borrower to sell the property and repay the debt B. Demand immediate
payment of the entire loan balance C. Prevent the borrower from selling the property D. Report the
borrower to a collection agency
Answer:
B. Demand immediate payment of the entire loan balance
Question:
A prospective tenant applies to rent a unit in a 12-unit apartment building, where the owner lives in
one of the units and handles all lease transactions on his own. The tenant is turned down, and
believes he has been discriminated against on the basis of his race. If true, this would be: A. lawful,
because no discriminatory advertising was used B. lawful, because the owner lives on the premises
C. lawful, because no real estate agent was used D. unlawful, because this is a 12-unit building
Answer:
D. unlawful, because this is a 12-unit building
Only lawful for four or fewer unit buildings
If a licensee is sued based on her real estate activities, the licensee must notify the Real Estate
Program Manager:
Question:
,A. if the judge determines the case to be serious enough to warrant disclosure B. within 20 days of
any settlement conference C. within 20 days of a court order, verdict, or judgment against the
licensee D. at the conclusion of the case, unless the licensee intends to appeal
Answer:
C. within 20 days of a court order, verdict, or judgment against the licensee
Question:
A letter of intent: A. contains all terms and conditions of a contractual agreement B. is generally
binding C. is used regularly in small residential transactions D. sets out basics prior to negotiation
Answer:
D. sets out basics prior to negotiation
Question:
A letter of intent is not a contract and isn't binding. Its just a preliminary statement that lays out
parameters for negotiation of a contract An elderly woman gives a power of attorney to her son to
manage all of her affairs. What sort of agent is he? A. Ostensible agent B. Special agent C.
Universal agent D. Unlimited agent
Answer:
C. Universal agent
Question:
The description of the power of attorney doesn't mention any limitations so the document gives the
son universal agency authority. A plaintiff files a lawsuit involving a property and also files a
separate document intended to provide notice of the lawsuit. This recorded notice of a pending
legal action is called a/an: A. abstract of judgment B. petition for alienation C. writ of execution D.
lis pendens
Answer:
D. lis pendens
Question:
When can an earnest money deposit be held by someone other than the firm that the check is made
out to? A. When borrower and lender agree in writing B. When both parties agree in writing C.
When deposit funds will be used right away for repairs D. When the deposit amount is below a
certain de minimis amount
Answer:
,B. When both parties agree in writing
Question:
A real estate agent lists Harold's home, which he owns as a life estate. Harold's children hold the
remainder interest. Which of the following is true? A. Someone who buys Harold's life estate
receives only the interest held by Harold B. Harold's children need to sign the listing agreement C.
The buyer will automatically receive a fee simple absolute interest D. Since a life estate cannot be
sold, the listing is invalid
Answer:
A. Someone who buys Harold's life estate receives only the interest held by Harold
Question:
Which law prohibits discrimination in real estate transactions based on race, with no exceptions? A.
Civil Rights Act of 1866 B,. Civil Rights Act of 1964 C. Civil Rights Act of 1968 D. Fair Housing
Act
Answer:
A. Civil Rights Act of 1866
1866 prevents discrimination based on race or color in any real estate transaction, 1964 limited to
programs where the federal government offers financial assistance. Fair Housing Act (part of 1986)
is limited to residential transactions
Question:
A buyer who records a deed is giving: A. constructive notice B. actual notice C. pending notice D.
statutory notice
Answer:
A. constructive notice
Question:
When making the required agency disclosure, a licensee must always: A. conduct herself in
conformity with the agency disclosure she has made B. explain that she is the agent for the seller C.
avoid dual agency situations, because they are illegal D. explain that she is the agent of the party
who is responsible for paying the commission
Answer:
A. conduct herself in conformity with the agency disclosure she has made
, Question:
Which of the following loans would result in the borrower paying the least interest over the life of
the loan term? A. 15-year loan at 10% interest B. 15-year loan at 11% interest C. 20-year loan at
10% interest D. 20-year loan at 11% interest
Answer:
A. 15-year loan at 10% interest
Question:
A landlord enters an apartment to make sure everything is in working order without providing any
advance notice. Is the landlord correct to do so? A. Yes, a landlord always has the right to enter a
tenant's apartment B. Yes, a landlord may offer his potential liability for the tenant's safety as an
affirmative defense C. No, the landlord would breach the covenant of quiet enjoyment D. No, the
landlord would breach the warranty of habitability
Answer:
C. No, the landlord would breach the covenant of quiet enjoyment
John leases a commercial property. In the lease, he agrees to pay part of the utilities and taxes, as
well as a fixed monthly rent amount. This is a:
Question:
A. net lease B. percentage lease C. ground lease D. graduated lease
Answer:
A. net lease
Question:
A percolation test will examine the: A. likelihood of landslides or subsidence B. presence of toxic
contamination in soil C. roofing material's ability to repel rain D. soil's ability to absorb and retain
water
Answer:
D. soil's ability to absorb and retain water
Branches of an apple tree hang over the fence, and overripe fruit falls into the neighbor's yard. This
is an example of a/an:
Question:
A. easement in gross B. emblement C. encroachment D. lien
Graded A+
Question:
Which of the following is TRUE about the holder of an inactive license? This person: A. may not
perform any acts that require a real estate license B. is technically licensed, and may perform
certain acts that require a real estate license C. can keep the license on inactive status for a
maximum of three years D. must obtain 30 clock hours of real estate instruction prior to each
inactive license renewal
Answer:
A. may not perform any acts that require a real estate license
Question:
A borrower defaults on a mortgage. What does the acceleration clause in the mortgage allow the
lender to do? A. Compel the borrower to sell the property and repay the debt B. Demand immediate
payment of the entire loan balance C. Prevent the borrower from selling the property D. Report the
borrower to a collection agency
Answer:
B. Demand immediate payment of the entire loan balance
Question:
A prospective tenant applies to rent a unit in a 12-unit apartment building, where the owner lives in
one of the units and handles all lease transactions on his own. The tenant is turned down, and
believes he has been discriminated against on the basis of his race. If true, this would be: A. lawful,
because no discriminatory advertising was used B. lawful, because the owner lives on the premises
C. lawful, because no real estate agent was used D. unlawful, because this is a 12-unit building
Answer:
D. unlawful, because this is a 12-unit building
Only lawful for four or fewer unit buildings
If a licensee is sued based on her real estate activities, the licensee must notify the Real Estate
Program Manager:
Question:
,A. if the judge determines the case to be serious enough to warrant disclosure B. within 20 days of
any settlement conference C. within 20 days of a court order, verdict, or judgment against the
licensee D. at the conclusion of the case, unless the licensee intends to appeal
Answer:
C. within 20 days of a court order, verdict, or judgment against the licensee
Question:
A letter of intent: A. contains all terms and conditions of a contractual agreement B. is generally
binding C. is used regularly in small residential transactions D. sets out basics prior to negotiation
Answer:
D. sets out basics prior to negotiation
Question:
A letter of intent is not a contract and isn't binding. Its just a preliminary statement that lays out
parameters for negotiation of a contract An elderly woman gives a power of attorney to her son to
manage all of her affairs. What sort of agent is he? A. Ostensible agent B. Special agent C.
Universal agent D. Unlimited agent
Answer:
C. Universal agent
Question:
The description of the power of attorney doesn't mention any limitations so the document gives the
son universal agency authority. A plaintiff files a lawsuit involving a property and also files a
separate document intended to provide notice of the lawsuit. This recorded notice of a pending
legal action is called a/an: A. abstract of judgment B. petition for alienation C. writ of execution D.
lis pendens
Answer:
D. lis pendens
Question:
When can an earnest money deposit be held by someone other than the firm that the check is made
out to? A. When borrower and lender agree in writing B. When both parties agree in writing C.
When deposit funds will be used right away for repairs D. When the deposit amount is below a
certain de minimis amount
Answer:
,B. When both parties agree in writing
Question:
A real estate agent lists Harold's home, which he owns as a life estate. Harold's children hold the
remainder interest. Which of the following is true? A. Someone who buys Harold's life estate
receives only the interest held by Harold B. Harold's children need to sign the listing agreement C.
The buyer will automatically receive a fee simple absolute interest D. Since a life estate cannot be
sold, the listing is invalid
Answer:
A. Someone who buys Harold's life estate receives only the interest held by Harold
Question:
Which law prohibits discrimination in real estate transactions based on race, with no exceptions? A.
Civil Rights Act of 1866 B,. Civil Rights Act of 1964 C. Civil Rights Act of 1968 D. Fair Housing
Act
Answer:
A. Civil Rights Act of 1866
1866 prevents discrimination based on race or color in any real estate transaction, 1964 limited to
programs where the federal government offers financial assistance. Fair Housing Act (part of 1986)
is limited to residential transactions
Question:
A buyer who records a deed is giving: A. constructive notice B. actual notice C. pending notice D.
statutory notice
Answer:
A. constructive notice
Question:
When making the required agency disclosure, a licensee must always: A. conduct herself in
conformity with the agency disclosure she has made B. explain that she is the agent for the seller C.
avoid dual agency situations, because they are illegal D. explain that she is the agent of the party
who is responsible for paying the commission
Answer:
A. conduct herself in conformity with the agency disclosure she has made
, Question:
Which of the following loans would result in the borrower paying the least interest over the life of
the loan term? A. 15-year loan at 10% interest B. 15-year loan at 11% interest C. 20-year loan at
10% interest D. 20-year loan at 11% interest
Answer:
A. 15-year loan at 10% interest
Question:
A landlord enters an apartment to make sure everything is in working order without providing any
advance notice. Is the landlord correct to do so? A. Yes, a landlord always has the right to enter a
tenant's apartment B. Yes, a landlord may offer his potential liability for the tenant's safety as an
affirmative defense C. No, the landlord would breach the covenant of quiet enjoyment D. No, the
landlord would breach the warranty of habitability
Answer:
C. No, the landlord would breach the covenant of quiet enjoyment
John leases a commercial property. In the lease, he agrees to pay part of the utilities and taxes, as
well as a fixed monthly rent amount. This is a:
Question:
A. net lease B. percentage lease C. ground lease D. graduated lease
Answer:
A. net lease
Question:
A percolation test will examine the: A. likelihood of landslides or subsidence B. presence of toxic
contamination in soil C. roofing material's ability to repel rain D. soil's ability to absorb and retain
water
Answer:
D. soil's ability to absorb and retain water
Branches of an apple tree hang over the fence, and overripe fruit falls into the neighbor's yard. This
is an example of a/an:
Question:
A. easement in gross B. emblement C. encroachment D. lien
