,PUERTO RICO REAL ESTATE SALESPERSON
LICENSING EXAM 2026
COMPLETE PRACTICE TEST BANK — QUESTIONS 1-200
Question 1
Which of the following is considered a physical characteristic of land?
A) Scarcity
B) Situs
C) Immobility
D) Transferability
Answer: C) Immobility
Rationale: The three physical characteristics of land are immobility,
indestructibility, and uniqueness (non-homogeneity). Scarcity and situs are
economic characteristics, while transferability is a legal characteristic.
Immobility means the geographic location of land cannot be changed.
Question 2
A property owner sells their home but keeps the right to use a portion of the
backyard for gardening purposes after the sale. This retained right is best
described as:
A) An easement B)
A license
C) A reservation
D) A deed restriction
Answer: C) A reservation
Rationale: A reservation is a right retained by the grantor when conveying
property. In this case, the seller is reserving a specific right to use part of the
,backyard after transferring ownership. This differs from an easement, which is a
right granted to another party.
Question 3
Under Puerto Rico Law 45 of 2013, which of the following is NOT a
requirement for obtaining a real estate salesperson license?
A) Being at least 18 years old
B) Holding a high school diploma or equivalent
C) Passing a criminal background check
D) Having 2 years of prior real estate experience
Answer: D) Having 2 years of prior real estate experience
Rationale: Law 45 of 2013 requires applicants to be at least 18, hold a high
school diploma or equivalent, complete the required pre-licensing education
(90 hours), and pass a criminal background check. Prior real estate experience
is not a licensing requirement for salespersons; it is a requirement for brokers.
Question 4
Which type of deed provides the LEAST protection to the buyer?
A) General warranty deed
B) Special warranty deed
C) Quitclaim deed
D) Bargain and sale deed
Answer: C) Quitclaim deed
Rationale: A quitclaim deed transfers only whatever interest the grantor may
have in the property, with no warranties or guarantees. It provides the least
protection to the buyer because the grantor does not warrant that they have
good title or that the property is free from encumbrances.
, Question 5
In Puerto Rico, the legal system is primarily based on:
A) English common law
B) Spanish Civil Code
C) French Napoleonic Code
D) German Civil Code
Answer: B) Spanish Civil Code
Rationale: Puerto Rico's legal system is based on the Spanish Civil Code,
derived from Roman law. This distinguishes it from the common law system
used in most U.S. states. However, federal laws and some common law
principles also apply in Puerto Rico.
Question 6
A borrower obtains a $180,000 mortgage on a property valued at $200,000.
What is the loan-to-value (LTV) ratio?
A) 80%
B) 85%
C) 90%
D) 95%
Answer: C) 90%
Rationale: The loan-to-value ratio is calculated by dividing the loan amount by
the property value: $180,000 ÷ $200,000 = 0.90 or 90%. An LTV of 90%
LICENSING EXAM 2026
COMPLETE PRACTICE TEST BANK — QUESTIONS 1-200
Question 1
Which of the following is considered a physical characteristic of land?
A) Scarcity
B) Situs
C) Immobility
D) Transferability
Answer: C) Immobility
Rationale: The three physical characteristics of land are immobility,
indestructibility, and uniqueness (non-homogeneity). Scarcity and situs are
economic characteristics, while transferability is a legal characteristic.
Immobility means the geographic location of land cannot be changed.
Question 2
A property owner sells their home but keeps the right to use a portion of the
backyard for gardening purposes after the sale. This retained right is best
described as:
A) An easement B)
A license
C) A reservation
D) A deed restriction
Answer: C) A reservation
Rationale: A reservation is a right retained by the grantor when conveying
property. In this case, the seller is reserving a specific right to use part of the
,backyard after transferring ownership. This differs from an easement, which is a
right granted to another party.
Question 3
Under Puerto Rico Law 45 of 2013, which of the following is NOT a
requirement for obtaining a real estate salesperson license?
A) Being at least 18 years old
B) Holding a high school diploma or equivalent
C) Passing a criminal background check
D) Having 2 years of prior real estate experience
Answer: D) Having 2 years of prior real estate experience
Rationale: Law 45 of 2013 requires applicants to be at least 18, hold a high
school diploma or equivalent, complete the required pre-licensing education
(90 hours), and pass a criminal background check. Prior real estate experience
is not a licensing requirement for salespersons; it is a requirement for brokers.
Question 4
Which type of deed provides the LEAST protection to the buyer?
A) General warranty deed
B) Special warranty deed
C) Quitclaim deed
D) Bargain and sale deed
Answer: C) Quitclaim deed
Rationale: A quitclaim deed transfers only whatever interest the grantor may
have in the property, with no warranties or guarantees. It provides the least
protection to the buyer because the grantor does not warrant that they have
good title or that the property is free from encumbrances.
, Question 5
In Puerto Rico, the legal system is primarily based on:
A) English common law
B) Spanish Civil Code
C) French Napoleonic Code
D) German Civil Code
Answer: B) Spanish Civil Code
Rationale: Puerto Rico's legal system is based on the Spanish Civil Code,
derived from Roman law. This distinguishes it from the common law system
used in most U.S. states. However, federal laws and some common law
principles also apply in Puerto Rico.
Question 6
A borrower obtains a $180,000 mortgage on a property valued at $200,000.
What is the loan-to-value (LTV) ratio?
A) 80%
B) 85%
C) 90%
D) 95%
Answer: C) 90%
Rationale: The loan-to-value ratio is calculated by dividing the loan amount by
the property value: $180,000 ÷ $200,000 = 0.90 or 90%. An LTV of 90%
