PEARSON VUE NATIONAL BROKER PRACTICE EXAM QUESTIONS
AND CORRECT ANSWERS!!! ALREADY GRADED A+ LATEST
UPDATE!!!
A broker wants to buy a 50-year-old office building for a real estate office and parking lot. To comply with
the Americans with Disabilities Act (ADA) regarding modifications, alterations MAY need to include:
A. installing elevators
B. installing water fountains
C. widening hallways
D. modifying restrooms - (ANSWER)D. modifying restroom
When the parties to a contract stipulate that a specified sum MUST be paid by any party who breaches
the contract, the sum is called:
A. punitive damages
B. liquidated damages
C. compensatory damages
D. actual damages - (ANSWER)B. liquidated damages
Ownership of water and mineral rights to real property are insured by which type of insurance?
A. Umbrella
B. Homeowners
,PEARSON VUE NATIONAL BROKER PRACTICE EXAM QUESTIONS
AND CORRECT ANSWERS!!! ALREADY GRADED A+ LATEST
UPDATE!!!
C. Flood
D. Title - (ANSWER)Title
In the absence of a formal appraisal report, which of the following choices is the MOST appropriate for
setting a listing price for a property in a neighborhood of rapidly selling homes?
A. The price that willing buyers have recently paid for similar structures
B. The cost of reproducing the structure plus the original lot value
C. The price that is an average of the cost of reproducing the structure and the recent sales prices
D. The price that is an average of the listed prices of the most recently sold similar properties -
(ANSWER)A. The price that willing buyers have recently paid for similar structures
In a real estate sale, the purpose of the title commitment is to:
A. Pay for losses the mortgagee might incur related to the sale
B. Indicate that the title insurance company will insure the title
C. Ensure that the sale will be closed according to the sales contract
D. Correct any defects found in the abstract of title - (ANSWER)B. Indicate that the title insurance
company will insure the title
A broker is commingling trust funds by depositing:
, PEARSON VUE NATIONAL BROKER PRACTICE EXAM QUESTIONS
AND CORRECT ANSWERS!!! ALREADY GRADED A+ LATEST
UPDATE!!!
A. earnest monies received from a client's properties in the broker's business account
B. earnest monies and rents received from a client's various properties in the same trust account
C. rents received from the broker's personally owned rental properties in a personal account
D. tenants' security deposits received from various clients' properties in the same trust account -
(ANSWER)A. earnest monies received from a client's properties in the broker's business account
A broker has listed a home for rent and placed the following advertisement in the local newspaper: "For
rent. Lovely home, 3 bedrooms, 2 bathrooms, 2-car garage. Recently remodeled and repainted. Within
walking distance of the town park and the public library. Mature couple preferred." Which of the
following laws has the broker VIOLATED?
A. Regulation Z
B. Federal Fair Housing Act
C. Americans with Disabilities Act
D. Uniform Residential Landlord-Tenant Act - (ANSWER)B. Federal Fair Housing Act
P owns a home in fee simple and conveys a life estate in the home to Q, for R's lifetime. In this example,
R is the:
A. life tenant
AND CORRECT ANSWERS!!! ALREADY GRADED A+ LATEST
UPDATE!!!
A broker wants to buy a 50-year-old office building for a real estate office and parking lot. To comply with
the Americans with Disabilities Act (ADA) regarding modifications, alterations MAY need to include:
A. installing elevators
B. installing water fountains
C. widening hallways
D. modifying restrooms - (ANSWER)D. modifying restroom
When the parties to a contract stipulate that a specified sum MUST be paid by any party who breaches
the contract, the sum is called:
A. punitive damages
B. liquidated damages
C. compensatory damages
D. actual damages - (ANSWER)B. liquidated damages
Ownership of water and mineral rights to real property are insured by which type of insurance?
A. Umbrella
B. Homeowners
,PEARSON VUE NATIONAL BROKER PRACTICE EXAM QUESTIONS
AND CORRECT ANSWERS!!! ALREADY GRADED A+ LATEST
UPDATE!!!
C. Flood
D. Title - (ANSWER)Title
In the absence of a formal appraisal report, which of the following choices is the MOST appropriate for
setting a listing price for a property in a neighborhood of rapidly selling homes?
A. The price that willing buyers have recently paid for similar structures
B. The cost of reproducing the structure plus the original lot value
C. The price that is an average of the cost of reproducing the structure and the recent sales prices
D. The price that is an average of the listed prices of the most recently sold similar properties -
(ANSWER)A. The price that willing buyers have recently paid for similar structures
In a real estate sale, the purpose of the title commitment is to:
A. Pay for losses the mortgagee might incur related to the sale
B. Indicate that the title insurance company will insure the title
C. Ensure that the sale will be closed according to the sales contract
D. Correct any defects found in the abstract of title - (ANSWER)B. Indicate that the title insurance
company will insure the title
A broker is commingling trust funds by depositing:
, PEARSON VUE NATIONAL BROKER PRACTICE EXAM QUESTIONS
AND CORRECT ANSWERS!!! ALREADY GRADED A+ LATEST
UPDATE!!!
A. earnest monies received from a client's properties in the broker's business account
B. earnest monies and rents received from a client's various properties in the same trust account
C. rents received from the broker's personally owned rental properties in a personal account
D. tenants' security deposits received from various clients' properties in the same trust account -
(ANSWER)A. earnest monies received from a client's properties in the broker's business account
A broker has listed a home for rent and placed the following advertisement in the local newspaper: "For
rent. Lovely home, 3 bedrooms, 2 bathrooms, 2-car garage. Recently remodeled and repainted. Within
walking distance of the town park and the public library. Mature couple preferred." Which of the
following laws has the broker VIOLATED?
A. Regulation Z
B. Federal Fair Housing Act
C. Americans with Disabilities Act
D. Uniform Residential Landlord-Tenant Act - (ANSWER)B. Federal Fair Housing Act
P owns a home in fee simple and conveys a life estate in the home to Q, for R's lifetime. In this example,
R is the:
A. life tenant
