Real Estate License Exam UPDATED
ACTUAL Questions and CORRECT
Answers
Community property is that owned by:
a. the church
b. parent and child if the child is over 21
c. the city or community
d. husband or wife when purchased with community funds - CORRECT ANSWER✔✔-
husband or wife when purchased with community funds
When real estate under lease is sold, the lease: a. expires within 30 days, unconditionally b. is
broken c. remains binding on the new owner unless otherwise stipulated in the lease itself d.
must be renewed - CORRECT ANSWER✔✔- remains binding on the new owner unless
otherwise stipulated in the lease itself
Income approach for an appraisal would be most widely used: a. on a newly opened
subdivision b. on commercial and investment property rented to tenants c. on property
heavily mortgaged d. on property heavily insured - CORRECT ANSWER✔✔- on
commercial and investment property rented to tenants
The right to cross over property owned by another is called: a. adverse possession b. an
easement c. a homestead d. a lien - CORRECT ANSWER✔✔- an easement
Taxes on real estate automatically become: a. a lien b. an easement c. a relinquishment d. a
mortgage - CORRECT ANSWER✔✔- a lien
Deeds are recorded in the: a. City hall b. County courthouse c. State capitol building d.
Tenancy in common - CORRECT ANSWER✔✔- County courthouse
Real property owned by the husband or wife prior to marriage is: a. community property b.
separate property c. personal property d. tenancy in common - CORRECT ANSWER✔✔-
separate property
, Eminent domain is: a. the action of taking property for public use b. a written agreement c.
the right to take property for public use d. evidenced by zoning - CORRECT ANSWER✔✔-
the right to take property for public use
The deed which states that the title conveyed is good from the sovereignty of the soil to the
grantee and that no one else can successfully claim the property is a: a. special warranty deed
b. general warranty deed c. quit claim deed d. bargain and sale deed - CORRECT
ANSWER✔✔- general warranty deed
One who acquires property under a deed is: a. an optionee b. a vendor c. a grantee d. a trustee
- CORRECT ANSWER✔✔- a grantee
The tax on a given piece of real estate is determined by multiplying the tax rate of the
assessing body by the: a. selling price b. appraised value of the property c. assessed valuation
d. market value less depreciation - CORRECT ANSWER✔✔- assessed valuation
The law which requires certain contracts to be in writing to be enforceable is called the: a.
written instrument act b. statute of limitations c. statute of frauds d. license act - CORRECT
ANSWER✔✔- statute of frauds
To ascertain the exact boundary lines of property, one should obtain a: a. title insurance
policy b. survey, with corners staked, by a licensed surveyor c. warranty deed d. bill of sale -
CORRECT ANSWER✔✔- survey
Amortization is the process of: a. liquidation of debts by installments b. depreciation c.
appraisal d. appreciation - CORRECT ANSWER✔✔- liquidation of debts by installments
An attorney-in-fact is the holder of: a. a certificate as an attorney-at-law b. a power of
attorney c. an appointment by court order d. deed from a trustee under a will - CORRECT
ANSWER✔✔- a power of attorney
The amount of deposit money is fixed by: a. the Real Estate License Act b. agreement of the
parties c. a minimum percentage of the selling price d. a broker - CORRECT ANSWER✔✔-
agreement of the parties
ACTUAL Questions and CORRECT
Answers
Community property is that owned by:
a. the church
b. parent and child if the child is over 21
c. the city or community
d. husband or wife when purchased with community funds - CORRECT ANSWER✔✔-
husband or wife when purchased with community funds
When real estate under lease is sold, the lease: a. expires within 30 days, unconditionally b. is
broken c. remains binding on the new owner unless otherwise stipulated in the lease itself d.
must be renewed - CORRECT ANSWER✔✔- remains binding on the new owner unless
otherwise stipulated in the lease itself
Income approach for an appraisal would be most widely used: a. on a newly opened
subdivision b. on commercial and investment property rented to tenants c. on property
heavily mortgaged d. on property heavily insured - CORRECT ANSWER✔✔- on
commercial and investment property rented to tenants
The right to cross over property owned by another is called: a. adverse possession b. an
easement c. a homestead d. a lien - CORRECT ANSWER✔✔- an easement
Taxes on real estate automatically become: a. a lien b. an easement c. a relinquishment d. a
mortgage - CORRECT ANSWER✔✔- a lien
Deeds are recorded in the: a. City hall b. County courthouse c. State capitol building d.
Tenancy in common - CORRECT ANSWER✔✔- County courthouse
Real property owned by the husband or wife prior to marriage is: a. community property b.
separate property c. personal property d. tenancy in common - CORRECT ANSWER✔✔-
separate property
, Eminent domain is: a. the action of taking property for public use b. a written agreement c.
the right to take property for public use d. evidenced by zoning - CORRECT ANSWER✔✔-
the right to take property for public use
The deed which states that the title conveyed is good from the sovereignty of the soil to the
grantee and that no one else can successfully claim the property is a: a. special warranty deed
b. general warranty deed c. quit claim deed d. bargain and sale deed - CORRECT
ANSWER✔✔- general warranty deed
One who acquires property under a deed is: a. an optionee b. a vendor c. a grantee d. a trustee
- CORRECT ANSWER✔✔- a grantee
The tax on a given piece of real estate is determined by multiplying the tax rate of the
assessing body by the: a. selling price b. appraised value of the property c. assessed valuation
d. market value less depreciation - CORRECT ANSWER✔✔- assessed valuation
The law which requires certain contracts to be in writing to be enforceable is called the: a.
written instrument act b. statute of limitations c. statute of frauds d. license act - CORRECT
ANSWER✔✔- statute of frauds
To ascertain the exact boundary lines of property, one should obtain a: a. title insurance
policy b. survey, with corners staked, by a licensed surveyor c. warranty deed d. bill of sale -
CORRECT ANSWER✔✔- survey
Amortization is the process of: a. liquidation of debts by installments b. depreciation c.
appraisal d. appreciation - CORRECT ANSWER✔✔- liquidation of debts by installments
An attorney-in-fact is the holder of: a. a certificate as an attorney-at-law b. a power of
attorney c. an appointment by court order d. deed from a trustee under a will - CORRECT
ANSWER✔✔- a power of attorney
The amount of deposit money is fixed by: a. the Real Estate License Act b. agreement of the
parties c. a minimum percentage of the selling price d. a broker - CORRECT ANSWER✔✔-
agreement of the parties
