CE Shop (Alabama) Final Exam Review 2026
Actual exam (Testing Real Exam Questions)and
verified Answers ( 100% accurate) GET IT
RIGHT!!
Jeung gave her agent an earnest money check, and the seller accepted Jeung's offer.
What will happen to the check now? - answer-An escrow agent will hold the funds in a
trust account until the agreement's terms are satisfied.
Cheryl, the aggrieved claimant on a complaint against a licensee, has just won her
claim. She demonstrated that the licensee was responsible for her losing $60,000. She
also paid for a lawyer, which was another $5,000. With other fees and incidentals, her
total damages are $67,000. What is the amount she'll receive? - answer-$25,000
Jerrold reviews the floor plan of the Knoxville house he's going to sell. It's 3,800 square
feet. In his advertising, he bumps that number up to 4,000 square feet to better justify its
asking price. What has Jerrold done? - answer-Intentional misrepresentation
Which of the following best describes an inactive license? - answer-This license status
means that you've paid your license fee but haven't completed your CE requirements.
If you, as an Alabama licensee, make a statement in an ad that you should have known
was false, what are you guilty of? - answer-Misrepresentation
Which of the following is a minimum service that an Alabama licensee must provide to
her clients? - answer-Disclosing any material facts the licensee knows about that the
client couldn't reasonably ascertain
Alabama broker Jim is acting as a limited consensual dual agent for seller Christine and
buyer Blake. Which of the following is required for Jim to act in this capacity? - answer-
He must get the written, informed, advance consent before entering into the
relationship.
What action may licensees take if they're unhappy with the commission's final decision
on their hearing? - answer-They may request a rehearing.
The funds placed in trust accounts are insured by the ______. - answer-FDIC
When it comes to earnest money, which one of the following statements is true? -
answer-Earnest money must be placed in a trust account.
, D'Wayne is acting as the buyer's agent for Alabama resident Rocky in a real estate
transaction. In this transaction, what is D'Wayne's role? - answer-A single agent
Julie is working with buyer clients and has prepared an estimated closing statement.
Which of the following statements is true? - answer-She must provide it when an offer is
signed.
Should the broker end up in litigation, any trust funds not safely tucked away in a trust
account could be ______. - answer-Frozen
Which one of the following is a true statement regarding the termination of qualifying
broker status in Alabama? - answer-Qualifying brokers have to notify their brokerage
and the commission in writing if they wish to terminate their status.
For how long must an Alabama licensee retain transaction file records after the date of
the transaction? - answer-Three years
Which of the following statements about escrow accounts is correct? - answer-Escrow
accounts are managed by escrow agents, and are used to hold funds belonging to
others, such as earnest money deposits.
Which entity administers and enforces Alabama's residential and commercial laws for
activities that require a license? - answer-Alabama Real Estate Commission
Susie has opted out of opening an escrow account with her mortgage lender, which
means she has a lower monthly payment. She still needs to save up, though, to make
sure she can pay for taxes and ______. - answer-Insurance
What's one of the steps you need to take if you choose to affiliate with a different
broker? - answer-Notify the commission by certified or registered mail.
Maria is the buyer's agent, and Julia is the seller's agent in a real estate transaction in
Alabama. Jack is Maria's qualifying broker. Julia works for Kyle's firm. From whom can
Julia accept compensation? - answer-Kyle
Which area of real estate law governs the use of contracts, explains the elements
required to make a contract valid, and describes what happens if a breach of contract
should occur? - answer-Contract law
To whom must a licensee, representing a buyer, disclose agency status? - answer-All
parties in the transaction
Of the following, which one could be considered a real estate violation? - answer-Mandy
didn't disclose to potential buyers that she was showing her own listing, or that she
represents the sellers.
Actual exam (Testing Real Exam Questions)and
verified Answers ( 100% accurate) GET IT
RIGHT!!
Jeung gave her agent an earnest money check, and the seller accepted Jeung's offer.
What will happen to the check now? - answer-An escrow agent will hold the funds in a
trust account until the agreement's terms are satisfied.
Cheryl, the aggrieved claimant on a complaint against a licensee, has just won her
claim. She demonstrated that the licensee was responsible for her losing $60,000. She
also paid for a lawyer, which was another $5,000. With other fees and incidentals, her
total damages are $67,000. What is the amount she'll receive? - answer-$25,000
Jerrold reviews the floor plan of the Knoxville house he's going to sell. It's 3,800 square
feet. In his advertising, he bumps that number up to 4,000 square feet to better justify its
asking price. What has Jerrold done? - answer-Intentional misrepresentation
Which of the following best describes an inactive license? - answer-This license status
means that you've paid your license fee but haven't completed your CE requirements.
If you, as an Alabama licensee, make a statement in an ad that you should have known
was false, what are you guilty of? - answer-Misrepresentation
Which of the following is a minimum service that an Alabama licensee must provide to
her clients? - answer-Disclosing any material facts the licensee knows about that the
client couldn't reasonably ascertain
Alabama broker Jim is acting as a limited consensual dual agent for seller Christine and
buyer Blake. Which of the following is required for Jim to act in this capacity? - answer-
He must get the written, informed, advance consent before entering into the
relationship.
What action may licensees take if they're unhappy with the commission's final decision
on their hearing? - answer-They may request a rehearing.
The funds placed in trust accounts are insured by the ______. - answer-FDIC
When it comes to earnest money, which one of the following statements is true? -
answer-Earnest money must be placed in a trust account.
, D'Wayne is acting as the buyer's agent for Alabama resident Rocky in a real estate
transaction. In this transaction, what is D'Wayne's role? - answer-A single agent
Julie is working with buyer clients and has prepared an estimated closing statement.
Which of the following statements is true? - answer-She must provide it when an offer is
signed.
Should the broker end up in litigation, any trust funds not safely tucked away in a trust
account could be ______. - answer-Frozen
Which one of the following is a true statement regarding the termination of qualifying
broker status in Alabama? - answer-Qualifying brokers have to notify their brokerage
and the commission in writing if they wish to terminate their status.
For how long must an Alabama licensee retain transaction file records after the date of
the transaction? - answer-Three years
Which of the following statements about escrow accounts is correct? - answer-Escrow
accounts are managed by escrow agents, and are used to hold funds belonging to
others, such as earnest money deposits.
Which entity administers and enforces Alabama's residential and commercial laws for
activities that require a license? - answer-Alabama Real Estate Commission
Susie has opted out of opening an escrow account with her mortgage lender, which
means she has a lower monthly payment. She still needs to save up, though, to make
sure she can pay for taxes and ______. - answer-Insurance
What's one of the steps you need to take if you choose to affiliate with a different
broker? - answer-Notify the commission by certified or registered mail.
Maria is the buyer's agent, and Julia is the seller's agent in a real estate transaction in
Alabama. Jack is Maria's qualifying broker. Julia works for Kyle's firm. From whom can
Julia accept compensation? - answer-Kyle
Which area of real estate law governs the use of contracts, explains the elements
required to make a contract valid, and describes what happens if a breach of contract
should occur? - answer-Contract law
To whom must a licensee, representing a buyer, disclose agency status? - answer-All
parties in the transaction
Of the following, which one could be considered a real estate violation? - answer-Mandy
didn't disclose to potential buyers that she was showing her own listing, or that she
represents the sellers.
