SUPERIOR REAL ESTATE SCHOOL EXAM BANK
2025/2026 NEWEST CURRENTLY TESTING AND
FREQUENTLY TESTED QUESTIONS AND
ANSWERS WITH A STUDY GUIDE | EXPERTLY
VERIFIED FOR GUARANTEED PASS | LATEST
UPDATE /ALREADY GRADED A+
Gene has agreed to sell his property to Amy with
settlement to be on December 11. Property taxes of $810
for the year have already been paid. How will the resulting
entry appear on the settlement worksheet?
A. $ 767.25 debit-buyer, credit-seller
B. $24.75 debit-buyer, credit-seller
C. $24.75 credit-seller, debit-buyer
D. $42.75 debit-buyer, credit-seller - ....ANSWER...$42.75
debit-buyer, credit-seller
Ashley contracts to purchase August's home for $250,000
with settlement set for October 21. The lender agrees to
make her a 80% LTV mortgage at 5.5% interest with 1%
loan origination fee and a 1.5 discount points. In addition,
interim interest to the end of the month must be collected.
1
,Property taxes are $2,750 for the year and the lender
requires these to be paid off at the settlement. At
settlement the following items must be paid by the party
who would traditionally pay them: attorney fees -$950;
survey - $450; deed preparation -$90; title insurance-$500;
termite report-$75; commission - 6%; revenue stamps - use
state rate. The buyer has paid $475 for the appraisal and
$75 for the credit report at the time of the loan
application. In addition the buyer has paid $2,500 in
earnest money deposit and $200 in the form of the due
diligence fee. How much money will Ashley need to bring
to the settlement in order to close - ....ANSWER...$55,108
Danette has agreed to sell her house to Thomas for
$319,000 and settlement to be scheduled for April 23.
Thomas paid earnest money of $3,000 and an additional
$1,000 as a due diligence fee with the offer. The balance
due at closing on Danette's mortgage is $191,415. Terms of
the agreement are for the annual property taxes of $4,032
to be prorated along with the monthly homeowners
association fees of $48 that have already been paid by the
seller. In addition the above items, the settlement attorney
will collect deed preparation fees of $80, recording fees of
$40, revenue stamps using the state rate, and the sales
commission of 5%. What will be the amount the seller will
receive at the settlement? (Enter all proration entries to
2
,the nearest whole dollar amount.)
A. $108,662
B. $109,938
C. $110,663
D. $111,194 - ....ANSWER...$108,662
Which of the following would create legally binding
acceptance of a written offer? - ....ANSWER...The seller's
agent emails the buyer's agent that the seller signed the
offer as written.
Matt is obtaining a mortgage loan of $178,000 at 5.5%
interest. Settlement is to occur on the 27th day of the
month. How will the interim interest appear on the
settlement worksheet?
A. $734.13 debit-buyer
B. $706.94 debit-buyer
C. $108.76 debit-buyer
D. $81.57 debit-buyer - ....ANSWER...$108.76 debit-
buyer
3
, A broker is preparing a comparative market analysis
(CMA) for a subject property with 3200 square feet. A
comparable property has 2750 square feet. The estimated
value of 450 additional square feet is $22,500. The broker
should... - ....ANSWER...Add $22,500 to the sales price of
the comparable property.
An option to purchase has been created for a one hundred
acre parcel of farmland. During the one-year option
period, the option he has the right to... -
....ANSWER...Execute the option to purchase on the terms
in the option agreement.
A buyer is under contract to purchase a home for $370,000
and has qualified for an 80% loan-to-value mortgage loan
at an annual interest rate of 45%. How much will the
buyer owe for the 1% loan origination fee and 1 1/2
discount points associated with this loan package? -
....ANSWER...$7,400
4
2025/2026 NEWEST CURRENTLY TESTING AND
FREQUENTLY TESTED QUESTIONS AND
ANSWERS WITH A STUDY GUIDE | EXPERTLY
VERIFIED FOR GUARANTEED PASS | LATEST
UPDATE /ALREADY GRADED A+
Gene has agreed to sell his property to Amy with
settlement to be on December 11. Property taxes of $810
for the year have already been paid. How will the resulting
entry appear on the settlement worksheet?
A. $ 767.25 debit-buyer, credit-seller
B. $24.75 debit-buyer, credit-seller
C. $24.75 credit-seller, debit-buyer
D. $42.75 debit-buyer, credit-seller - ....ANSWER...$42.75
debit-buyer, credit-seller
Ashley contracts to purchase August's home for $250,000
with settlement set for October 21. The lender agrees to
make her a 80% LTV mortgage at 5.5% interest with 1%
loan origination fee and a 1.5 discount points. In addition,
interim interest to the end of the month must be collected.
1
,Property taxes are $2,750 for the year and the lender
requires these to be paid off at the settlement. At
settlement the following items must be paid by the party
who would traditionally pay them: attorney fees -$950;
survey - $450; deed preparation -$90; title insurance-$500;
termite report-$75; commission - 6%; revenue stamps - use
state rate. The buyer has paid $475 for the appraisal and
$75 for the credit report at the time of the loan
application. In addition the buyer has paid $2,500 in
earnest money deposit and $200 in the form of the due
diligence fee. How much money will Ashley need to bring
to the settlement in order to close - ....ANSWER...$55,108
Danette has agreed to sell her house to Thomas for
$319,000 and settlement to be scheduled for April 23.
Thomas paid earnest money of $3,000 and an additional
$1,000 as a due diligence fee with the offer. The balance
due at closing on Danette's mortgage is $191,415. Terms of
the agreement are for the annual property taxes of $4,032
to be prorated along with the monthly homeowners
association fees of $48 that have already been paid by the
seller. In addition the above items, the settlement attorney
will collect deed preparation fees of $80, recording fees of
$40, revenue stamps using the state rate, and the sales
commission of 5%. What will be the amount the seller will
receive at the settlement? (Enter all proration entries to
2
,the nearest whole dollar amount.)
A. $108,662
B. $109,938
C. $110,663
D. $111,194 - ....ANSWER...$108,662
Which of the following would create legally binding
acceptance of a written offer? - ....ANSWER...The seller's
agent emails the buyer's agent that the seller signed the
offer as written.
Matt is obtaining a mortgage loan of $178,000 at 5.5%
interest. Settlement is to occur on the 27th day of the
month. How will the interim interest appear on the
settlement worksheet?
A. $734.13 debit-buyer
B. $706.94 debit-buyer
C. $108.76 debit-buyer
D. $81.57 debit-buyer - ....ANSWER...$108.76 debit-
buyer
3
, A broker is preparing a comparative market analysis
(CMA) for a subject property with 3200 square feet. A
comparable property has 2750 square feet. The estimated
value of 450 additional square feet is $22,500. The broker
should... - ....ANSWER...Add $22,500 to the sales price of
the comparable property.
An option to purchase has been created for a one hundred
acre parcel of farmland. During the one-year option
period, the option he has the right to... -
....ANSWER...Execute the option to purchase on the terms
in the option agreement.
A buyer is under contract to purchase a home for $370,000
and has qualified for an 80% loan-to-value mortgage loan
at an annual interest rate of 45%. How much will the
buyer owe for the 1% loan origination fee and 1 1/2
discount points associated with this loan package? -
....ANSWER...$7,400
4
