ACEABLE AGENT EXAM LATEST
QUESTIONS AND
ANSWERS 2026 - 2027
What is meant when it is said that a promissory note is a negotiable
instrument?
1. It means that the terms contained in the promissory note are not fixed,
but can be negotiated whenever the note is transferred.
2. It means that the promissory note is transferable and assignable.
3. It means that a promissory note is not mandatory, but can be
negotiated into existence as a condition of the loan.
4. It means that a promissory note is a living document subject to
change, rather than being fixed in nature - ANSWERS-It means that the
promissory note is transferable and assignable.
In what way does hypothecation benefit borrowers in the financing of a
home purchase?
1. It allows lenders to offer lower interest rates since the loan is secured
through the use of the property as collateral.
2. It demands hyper-transparency in the loan evaluation process.
3. It allows state and federal agencies to provide government-secured
loan rates.
END OF
PAGE
1
, ACEABLE AGENT EXAM LATEST
QUESTIONS AND
ANSWERS 2026 - 2027
4. It creates an open marketplace where lenders compete for borrowers
meeting select criteria. - ANSWERS-It allows lenders to offer lower
interest rates since the loan is secured through the use of the property as
collateral.
What is one of the larger factors for lenders in determining the risk of a
loan request?
1. the marital status of the applicant
2. the level of education of the applicant
3. the intended use of the property purchased with the loan
4. whether or not the loan will be secured by collateral - ANSWERS-
whether or not the loan will be secured by collateral
The decimal equivalent of 345% is:
1. .345
2. 345
3. 34.5
END OF
PAGE
2
, ACEABLE AGENT EXAM LATEST
QUESTIONS AND
ANSWERS 2026 - 2027
4. 3.45 - ANSWERS-3.45
What is the equation for solving for part?
1. divide the percent by the total
2. multiply the total by the percent
3. multiply the part by total
4. divide the total by percent - ANSWERS-multiply the total by the
percent
Sandra buys a primary residence in 2003 for $250,000. She sells it in
2016 for $425,000. How much money will she be required to pay capital
gains tax on?
1. $425,000
2. $175,000
3. $0
4. $250,000 - ANSWERS-$0
END OF
PAGE
3
, ACEABLE AGENT EXAM LATEST
QUESTIONS AND
ANSWERS 2026 - 2027
Ebony owns a business that does the following:
Oversees real estate transactions to completion.
Brings together the parties to a real estate transaction, such as a buyer
and a seller.
Ebony's business likely engaged in:
1. Real estate brokerage
2. Investing
3. Community association management
4. Mortgage loan origination - ANSWERS-Real estate broekrage
In which of the following situations would a sales associate need a CAM
license?
END OF
PAGE
4
QUESTIONS AND
ANSWERS 2026 - 2027
What is meant when it is said that a promissory note is a negotiable
instrument?
1. It means that the terms contained in the promissory note are not fixed,
but can be negotiated whenever the note is transferred.
2. It means that the promissory note is transferable and assignable.
3. It means that a promissory note is not mandatory, but can be
negotiated into existence as a condition of the loan.
4. It means that a promissory note is a living document subject to
change, rather than being fixed in nature - ANSWERS-It means that the
promissory note is transferable and assignable.
In what way does hypothecation benefit borrowers in the financing of a
home purchase?
1. It allows lenders to offer lower interest rates since the loan is secured
through the use of the property as collateral.
2. It demands hyper-transparency in the loan evaluation process.
3. It allows state and federal agencies to provide government-secured
loan rates.
END OF
PAGE
1
, ACEABLE AGENT EXAM LATEST
QUESTIONS AND
ANSWERS 2026 - 2027
4. It creates an open marketplace where lenders compete for borrowers
meeting select criteria. - ANSWERS-It allows lenders to offer lower
interest rates since the loan is secured through the use of the property as
collateral.
What is one of the larger factors for lenders in determining the risk of a
loan request?
1. the marital status of the applicant
2. the level of education of the applicant
3. the intended use of the property purchased with the loan
4. whether or not the loan will be secured by collateral - ANSWERS-
whether or not the loan will be secured by collateral
The decimal equivalent of 345% is:
1. .345
2. 345
3. 34.5
END OF
PAGE
2
, ACEABLE AGENT EXAM LATEST
QUESTIONS AND
ANSWERS 2026 - 2027
4. 3.45 - ANSWERS-3.45
What is the equation for solving for part?
1. divide the percent by the total
2. multiply the total by the percent
3. multiply the part by total
4. divide the total by percent - ANSWERS-multiply the total by the
percent
Sandra buys a primary residence in 2003 for $250,000. She sells it in
2016 for $425,000. How much money will she be required to pay capital
gains tax on?
1. $425,000
2. $175,000
3. $0
4. $250,000 - ANSWERS-$0
END OF
PAGE
3
, ACEABLE AGENT EXAM LATEST
QUESTIONS AND
ANSWERS 2026 - 2027
Ebony owns a business that does the following:
Oversees real estate transactions to completion.
Brings together the parties to a real estate transaction, such as a buyer
and a seller.
Ebony's business likely engaged in:
1. Real estate brokerage
2. Investing
3. Community association management
4. Mortgage loan origination - ANSWERS-Real estate broekrage
In which of the following situations would a sales associate need a CAM
license?
END OF
PAGE
4
