CE Shop Final Exam Questions with Correct Answers 2026 | Complete Real Estate Course Study Guide & Practice Test

CESHOPFINALEXAM QUESTIONS WITH b b b b b




CORRECT ANSWERS 2026.
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which of the following is the price a lender believes the property will bring at a foreclosure sal e? -
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CORRECT ANSWER -mortgage value
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Burt terminated his exclusive right-to-
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sell listing agreement with Scott, his listing broker. Burt may legally do this as long as he's
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- CORRECT ANSWER -willing to pay Scott's commission anyway
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what must a homeowner in DC disclose about a property built before 1978 if they have never t
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ested it for lead paint? - CORRECT ANSWER -that the home is presumed to have lead-
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based paint b




Fred is buying Gary's property, which is listed with Sara. Who are the parties to the listing agre ement? -
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CORRECT ANSWER -Gary and Sara
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an appraiser used the cost approach to estimate a property's value at $220,000. The site value was
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$50,000 and the total depreciation estimate was $4,000. What was the estimated cost of i
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mprovements? - CORRECT ANSWER -$174,000
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which term is defined as the addition of one possessor's years of use to another's continuous use
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of the same property in an adverse possession claim? - CORRECT ANSWER -tacking
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which one of the following statements describes informed consent as it relates to dual agency?
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- CORRECT ANSWER -
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both the buyer and the seller understand what dual agency is and agree in writing to allow the agent to
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represent both parties
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,which of the following factors would play a role in an IRS determination as to whether a licens ee
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should be classified as an employee or an independent contractor? - CORRECT ANSWER -
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whether the licensee receives benefits from the brokerage firm
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under the statute of , if legal remedy is sought against a person, the pursuer must bring a
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court action within a specified period of time - CORRECT ANSWER -limitations
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Chester is interested in becoming a real estate licensee in DC. After completing the requiremen ts
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for obtaining the license for a real estate salesperson, which agency will administer Chester's
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license? - CORRECT ANSWER -DC Real Estate Commission
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A client terminates a listing agreement before its expiration date. What happens now? -
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CORRECT ANSWER -the client may owe a commission anyway b b b b b b b b




what's involuntary lien? - CORRECT ANSWER -
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a lien created without a property owner's consent
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Jim is a listing agent. What offers must he present to his client and when? - CORRECT
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ANSWER -he must present all offers as soon as practicable
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Wallace is beside himself He spent the last five months raising enough money to purchase the
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property that he has an opinion on, and now, a month before the end of his option period, the
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seller refuses to sell him the property. The seller's actions are
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CORRECT ANSWER -a breach of contract b b b b b




The mishandling of escrow funds can result in
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Disciplinary action and fines for the real estate licensee
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How many feet are in a mile? - CORRECT ANSWER -5,280
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, Under which types of agency agreement may a buyer and agent operate? - CORRECT
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ANSWER -open, exclusive right to represent, and exclusive agency
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With an option contract, which of the following constitutes a breach of contract? -
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CORRECT ANSWER -
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the optionor sells the property without the option contract to someone other than the option ee
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What would be an altruistic reason for a municipality to accept a land dedication? -
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CORRECT ANSWER -to use the land for public benefit
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Rhonda and Jade both consider themselves African-
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American, although Rhonda has much darker skin and hair than Jade. When Rhonda went to t he
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Valley Falls apartment manager's office to request a rental application, she was told there w ere no
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vacancies. Jade went in a day later and received an application. This may be discriminati on based
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on
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Among other things, a listing in the MLS should always include
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CORRECT ANSWER -at least one photo
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Joint tenancy requires unities of time, interest, and
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possession
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Obviously, you can't lawfully convey something unless the parties agree on what's being conve
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yed. How is that determined? - CORRECT ANSWER -legal description
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Whose role is it to develop the comprehensive master plan? - CORRECT ANSWER -
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Planning board members
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