- Questions and Answers 2026
Exam All Answers and
Illustrations Given
(1) 1. The real estate marketplace could BEST be described as being
A. homogeneous
B. stratified
C. perfect
,D. uninfluenced by emotion - ANSWER ✔✔B. stratified (based on
price)
(1) 2. Most real estate agents are primarily engaged in which area of
activity
A. residential property
B. raw land and lots
C. commercial property
D. development - ANSWER ✔✔A. residential property
(1) 3. The IRS will treat real estate salespeople as independent
contractors if 3 criteria are met. Which is not a criteria
A. The salesperson's reimbursement is solely based on sales, not hours
worked
B. The salesperson represents himself as an independent contractor
when dealing with third parties
C. There is a written contract stating that the salesperson will be treated
as an independent contractor for tax purposes
,D. The salesperson is licensed as a real estate agent - ANSWER
✔✔B. The salesperson represents himself as an independent contractor
when dealing with third parties ( merely representing oneself as an
independent contractor would be a violation of disclosure requirements
and is not considered to be an IRS criteria)
(1) 4. A broker ordinarily would be liable to salespeople for
A. unemployment compensation
B. workers' compensation
C. Social Security contributions
D. none of these - ANSWER ✔✔B. workers' compensation (for work
related injuries)
(1) 5. In choosing a broker, a new licensee should be LEAST interested
in an office that
A. has a high percentage of successful people
B. has a good library of books, tapes, and videos for training
C. offers 100% commission
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, D. is a member of a local multiple listing service - ANSWER ✔✔C.
offers 100% commission (new licensees should remember training is
more important than commission split)
(1) 6. The BEST way to learn is to
A. listen to what others say
B. read instructional material
C. watch what others do
D. use the ideas you observe or read about - ANSWER ✔✔D. use
the ideas you observe or read about (by using ideas, they become
yours)
(1) 7. Which of the following statements is true about role-playing
A. Role-playing situations are limited only by our own imagination
B. Role-playing can be verbalized or nonverbalized
C. Role-playing exercises can involve more than one person
D. All of these - ANSWER ✔✔D. All of these
(1) 8. Which statement is an example of a specific goal