Exam Prep Questions And 100%
Correct Answers 2025-2026 Updated.
Which of the following wills may be considered invalid? - Answer A will that is not signed
The Quarry Mountain Subdivision requires all properties to have fences that are at least 8 feet
tall surrounding each property. This is an example of - Answer a deed restriction.
The essential criteria for an acceptable legal description is that it - Answer accurately locates
the parcel in the opinion of a court.
New broker Juliet has been assigned office duty for Saturday and Sunday. What is another
common term for office duty? - Answer Floor time
In the appraisal process, looking at the number of recreational facilities, the distances to schools
and adequacy of public transportation is called - Answer neighborhood analysis.
Alex's home has been on the market for eight months. What is the most likely reason Alex's
home has not been sold yet? - Answer The property is overpriced.
Owner Tom decided to lease out his basement to a college student. By leasing the basement,
Tom has - Answer transferred a portion of his bundle of rights.
One of the major considerations in a master plan is - Answer the effect of new development
on traffic patterns and the environment.
On a $280,000 loan, the lender charges a 2 point service charge. How much does the borrower
have to pay for just these two points? - Answer $5,600
What is the definition of "valuable consideration" in regard to contract validity? - Answer
Something specifically offered in exchange for something else
, If a comparable has one less bathroom than the subject, an adjustment is made by - Answer
adding value to the comparable.
Designated Broker Austin represents a party in a transaction where there is a dispute regarding
the deposited escrow money. What should Austin do? - Answer Hold the money until both
parties (or their lawyers) provide a written release.
What is a disadvantage of real estate investment? - Answer It is not highly liquid.
Earl orally agreed to a 18-month lease with landlord Blake. Is this contract enforceable? -
Answer No, all leases for longer than one year must be in writing to be enforceable.
If the party who has reason to disaffirm the contract elects instead to perform it, the contract is:
- Answer no longer voidable but valid.
Designated Broker Jon is attaching a rider strip to a For Sale sign. What information is most likely
on this rider strip? - Answer Jon's cell phone number
Who can qualify for an FHA loan? - Answer Anyone with qualified income
Should a licensee who represents both the buyer and seller tell the buyer about material
defects on the seller's property? - Answer Yes, any defects known to the designated broker
should have been disclosed to the buyer.
Which of the following must be aware of relevant local ordinances, electrical and plumbing
systems, heating and cooling systems? - Answer Home inspector
What are the primary advantages of PEX piping? - Answer PEX piping is able to withstand both
high and low temperatures and it is highly resistant to chemicals.
Which of these statements about the Americans with Disabilities Act is TRUE? - Answer An
apartment manager might be required to allow a tenant with a disability to widen a doorway.
Licensee Alex only represents the buyer in a transaction. What is Alex called in this situation? -
Answer A single agent