ACEABLE AGENT EXAM 2025
QUESTIONS AND ANSWERS
Does a client always have the right to terminate (revoke) an agency relationship agreement at
any time with a broker? If so, does this also mean a client could do so without liability? -
ANS Even though a client always has the right to terminate an agency agreement with a
broker at any time, there may be language in the contract that creates liability for damages if
they do.
Which of these would most likely represent the unauthorized practice of law by a licensee? -
ANS expressing an opinion regarding the client's degree of legal liability due to a clause in
the contract
Hamilton's home has been assessed for $265,000. The millage rate for the school district is 6.1
mills. The millage rate for the city is 6.8 mills. The millage rate for the county is 7.3 mills.
What is his total property tax bill? Round to the nearest dollar. - ANS $4,496
What does a high vacancy rate indicate about a rental market? - ANS Supply is outpacing
demand. Rent prices will be lower to attract renters.
Bruno is a 22-year-old who has gathered a group of impressionable local teenagers with the
intent to enlist their help in selling drugs to their classmates. He explains that their
compensation would be strictly commission, with volume-based bonuses paid out every two
weeks. Sadly, six of the kids agree to work for Bruno.
Given what you know of this disturbing scenario, which two essential elements of a valid
contract are missing? - ANS lawful objective and legally competent parties
Karen is selling her house and wants to receive a profit of at least $50,000. She has $210,000
remaining on her mortgage, $12,000 in closing costs, and will pay her listing agent a 6% sale
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,commission. Approximately, which is the LEAST the home can sell for in order to net the profit
Karen desires? - ANS $290,000 $210,000 + $12,000 + $50,000 = $272,000 $272,000 ÷ 0.94 =
$290,000
Which of these would be considered a tangible asset of a business? - ANS personal property
Explain how goodwill affects the valuation of a business. - ANS Goodwill increases a
business's going concern valuation.
A homebuyer is looking to find a mortgage. He goes to the office of Bert Applebee, who
presents him with some options for mortgages. The homebuyer chooses one he likes, and Bert
contacts the lender and negotiates the terms for the homebuyer. The lender then originates
the loan for the homebuyer.
What job does Bert Applebee most likely have? - ANS mortgage broker
Adrienne and Marty bought their first home in June 2021. Their real estate agent told them that
ALL of the property tax would be deductible. Is this true? - ANS No. Homeowners can deduct
a total of $10,000 between state, city, and property taxes.
Kae is a broker. She asks her sales associate to collect evidence of title for the property they are
working with. They bring Kae evidence of title in the form of:
A Torrens certificate
An opinion of title
A certificate of title
Title insurance
Rank the types of evidence of title the sales associate brought Kae from the best to the worst. -
ANS Torrens certificate, title insurance, opinion of title, certificate of title
What is it called when a borrower pledges an asset as collateral to borrow money to buy the
pledged asset? - ANS hypothecation
Which of these liens would take priority over the others? - ANS property tax lien
2 Copyright ©BRIGHSTARS ALL RIGHTS RESERVED 2025
, Oliver is a licensed lawyer in Florida. He has lived in Florida for three years. Assuming he passes
the background check and has his application accepted, what ELSE must he do to become a
licensed sales associate in Florida? - ANS pass the state and national portion of the state
licensing exam
The lot and block system primarily relies on which of the following to describe land? -
ANS section, lot, and block numbers within a subdivision
Analyze the following scenarios. Which does NOT violate the federal Fair Housing Act? -
ANS An agent refuses to show an apartment to a woman because she has a poor credit
score.
You are a buyer, and a very nervous one, at that. You are checking all of your bases when you
go out to buy your first home. To give yourself the greatest protection, you make sure the
listing agreement states the property will be conveyed using a: - ANS general warranty deed
Broker Blessing is caught in the middle of a buyer's and seller's claims that they have the right
to the escrow money. While the buyer and seller resolve their disputes in court, Blessing knows
she has no claim to the escrow funds. Blessing pursues a(n): - ANS interpleader
Which of the following best explains the purpose of the Comprehensive Environmental
Response, Compensation, and Liability Act (CERCLA)? - ANS CERCLA provides broad federal
authority to respond directly to releases of hazardous substances that may endanger public
health or the environment.
Which of these is an example of a monument? - ANS wooden stake put in the ground by a
surveyor
There has been a lot of new construction in Ace City. New apartment complexes have been
opening all over town. Assuming that demand remains stable, infer the effect that this will have
on rent prices. - ANS Rent rates should go down now that there is more supply in relation to
demand.
3 Copyright ©BRIGHSTARS ALL RIGHTS RESERVED 2025
QUESTIONS AND ANSWERS
Does a client always have the right to terminate (revoke) an agency relationship agreement at
any time with a broker? If so, does this also mean a client could do so without liability? -
ANS Even though a client always has the right to terminate an agency agreement with a
broker at any time, there may be language in the contract that creates liability for damages if
they do.
Which of these would most likely represent the unauthorized practice of law by a licensee? -
ANS expressing an opinion regarding the client's degree of legal liability due to a clause in
the contract
Hamilton's home has been assessed for $265,000. The millage rate for the school district is 6.1
mills. The millage rate for the city is 6.8 mills. The millage rate for the county is 7.3 mills.
What is his total property tax bill? Round to the nearest dollar. - ANS $4,496
What does a high vacancy rate indicate about a rental market? - ANS Supply is outpacing
demand. Rent prices will be lower to attract renters.
Bruno is a 22-year-old who has gathered a group of impressionable local teenagers with the
intent to enlist their help in selling drugs to their classmates. He explains that their
compensation would be strictly commission, with volume-based bonuses paid out every two
weeks. Sadly, six of the kids agree to work for Bruno.
Given what you know of this disturbing scenario, which two essential elements of a valid
contract are missing? - ANS lawful objective and legally competent parties
Karen is selling her house and wants to receive a profit of at least $50,000. She has $210,000
remaining on her mortgage, $12,000 in closing costs, and will pay her listing agent a 6% sale
1 Copyright ©BRIGHSTARS ALL RIGHTS RESERVED 2025
,commission. Approximately, which is the LEAST the home can sell for in order to net the profit
Karen desires? - ANS $290,000 $210,000 + $12,000 + $50,000 = $272,000 $272,000 ÷ 0.94 =
$290,000
Which of these would be considered a tangible asset of a business? - ANS personal property
Explain how goodwill affects the valuation of a business. - ANS Goodwill increases a
business's going concern valuation.
A homebuyer is looking to find a mortgage. He goes to the office of Bert Applebee, who
presents him with some options for mortgages. The homebuyer chooses one he likes, and Bert
contacts the lender and negotiates the terms for the homebuyer. The lender then originates
the loan for the homebuyer.
What job does Bert Applebee most likely have? - ANS mortgage broker
Adrienne and Marty bought their first home in June 2021. Their real estate agent told them that
ALL of the property tax would be deductible. Is this true? - ANS No. Homeowners can deduct
a total of $10,000 between state, city, and property taxes.
Kae is a broker. She asks her sales associate to collect evidence of title for the property they are
working with. They bring Kae evidence of title in the form of:
A Torrens certificate
An opinion of title
A certificate of title
Title insurance
Rank the types of evidence of title the sales associate brought Kae from the best to the worst. -
ANS Torrens certificate, title insurance, opinion of title, certificate of title
What is it called when a borrower pledges an asset as collateral to borrow money to buy the
pledged asset? - ANS hypothecation
Which of these liens would take priority over the others? - ANS property tax lien
2 Copyright ©BRIGHSTARS ALL RIGHTS RESERVED 2025
, Oliver is a licensed lawyer in Florida. He has lived in Florida for three years. Assuming he passes
the background check and has his application accepted, what ELSE must he do to become a
licensed sales associate in Florida? - ANS pass the state and national portion of the state
licensing exam
The lot and block system primarily relies on which of the following to describe land? -
ANS section, lot, and block numbers within a subdivision
Analyze the following scenarios. Which does NOT violate the federal Fair Housing Act? -
ANS An agent refuses to show an apartment to a woman because she has a poor credit
score.
You are a buyer, and a very nervous one, at that. You are checking all of your bases when you
go out to buy your first home. To give yourself the greatest protection, you make sure the
listing agreement states the property will be conveyed using a: - ANS general warranty deed
Broker Blessing is caught in the middle of a buyer's and seller's claims that they have the right
to the escrow money. While the buyer and seller resolve their disputes in court, Blessing knows
she has no claim to the escrow funds. Blessing pursues a(n): - ANS interpleader
Which of the following best explains the purpose of the Comprehensive Environmental
Response, Compensation, and Liability Act (CERCLA)? - ANS CERCLA provides broad federal
authority to respond directly to releases of hazardous substances that may endanger public
health or the environment.
Which of these is an example of a monument? - ANS wooden stake put in the ground by a
surveyor
There has been a lot of new construction in Ace City. New apartment complexes have been
opening all over town. Assuming that demand remains stable, infer the effect that this will have
on rent prices. - ANS Rent rates should go down now that there is more supply in relation to
demand.
3 Copyright ©BRIGHSTARS ALL RIGHTS RESERVED 2025
