REAL ESTATE PRACTICE EXAM 2026 183+ COMPLETE EXAM QUESTIONS AND ANSWERS 100% VERIFIED A+ GRADE ASSURED!!!!! NEW LATEST UPDATE!!!!!

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REAL ESTATE PRACTICE EXAM 2026 183+ COMPLETE EXAM QUESTIONS AND ANSWERS 100% VERIFIED A+ GRADE ASSURED!!!!! NEW LATEST UPDATE!!!!!

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2026/2027

Institution REAL ESTATE PRACTICE

Module REAL ESTATE PRACTICE

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REAL ESTATE PRACTICE EXAM 2026 183+ COMPLETE EXAM QUESTIONS AND ANSWERS 100% VERIFIED A+ GRADE ASSURED!!!!! NEW LATEST UPDATE!!!!!

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FINAL EXAMINATION PAPER dd dd

dd REAL ESTATE PRACTICE EXAM QUESTIONS ANSWERS
dd dd dd dd dd

STUDENT NAME: ________________________________
dd dd DATE: _____________ dd

COURSE: NATIONAL PORTION OF REAL ESTATE EXAM
dd dd dd dd dd dd TIME: _____________ dd

EXAM CODE: REAL ESTATE PRACTICE EXAM QUESTIO
dd dd dd dd dd dd

NS ANSWERS-101
dd

EXAM INSTRUCTIONS:
dd

1. Print your full name and date clearly in the header above.
dd dd dd dd dd dd dd dd dd dd dd

2. This exam booklet contains both Test Questions (Part I) and Verified Solutions (Part II).
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3. Answer all multiple-choice questions clearly. Double-check your work.
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4. Do not break the seal or open this booklet until instructed to do so by the proctor.
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Q1. If a 17 year old signs a contract is the contract:
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[Verified Solution]: voidable dd dddd

Q2. A property owner advertises property available for lease with a swimming pool. The prop
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erty owner may
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[Verified Solution]: a.Require the families to live in a specific area away from the pool. b.Refuse to r
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ent to families with children. c.Require the parents to supervise their children when they are in the pool.
dd dd dd dd dd dd dd dd dd dd dd dd dd dd dd dd dd

d.be required to hire a lifegaurd C.
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Q3. Agency means the broker owes to their client's certain duties. Which of the following is N
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OT true?
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[Verified Solution]: A. Loyalty B Honesty
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C. Indemnification
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D. accounting C.
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Q4. If the interest for four months on a loan of $80,000 was $3200, what was the annual rate
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of interest?
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[Verified Solution]: 12% dd dddd

,Q5. In order to establish net operating income in the income approach to valuation, which of
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the following would be deducted from effective gross income?
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[Verified Solution]: A. Taxes dd dddd dd

B. Mortgage interest
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C. Building depreciation
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D. Capital improvements A
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Q6. A house has a market value of $ 110,000. The assessed value is 30% of the market value.
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If the mill levy is 52 mills, what is the yearly tax on the house?
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[Verified Solution]: $1,716 110,000 x .052 x .3 = $1,716 ***annual tax = assessed value x tax rate (
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mill)

Q7. What would most likely cause housing prices to fall?
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[Verified Solution]: A. The sale of 3 luxury homes in a neighborhood
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B. A company hiring 250 engineers
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C. Sharp increase in interest rates
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D. A reduction in building activity C
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Q8. The Internal Revenue code provides for tax-deferred exchange only of:
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[Verified Solution]: A. Residential property
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B. Commercial property
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C. Urban property
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D. Like kind property **tax-deferred exchange = 1030
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Q9. Subordination clause?
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[Verified Solution]: Allows a change in the order/priority of mortgages
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Q10. A buyer made an offer to purchase a property. The owner responded with a counteroffe
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r. While the buyer was reviewing the counteroffer, the owner received a better offer. The own
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er can accept the second offer if:
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[Verified Solution]: A. The owner withdraws the counteroffer before it is accepted
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B. The owner gives the first buyer notice that another offer was received and an opportunity to revise t
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he bid dd

C. The first buyer is informed, in writing, of the owner's intent to accept another offer
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D. It satisfies or exceeds all terms included in the counteroffer A
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, Q11. Building ordinances may specify and regulate:
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A. Use of land
dd dd dd

B. Zoning
dd

C. Material used in plumbing
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D. Easements
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[Verified Solution]: C. Material used in plumbing
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Q12. Seller is giving the buyer a contingency but doesn't want to be stopped from selling fore
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ver. The seller should consider:
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A. Increasing the earnest money
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B. Get proof of buyer financing
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C. Refusing the contingency
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D. Countering with an escape clause
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[Verified Solution]: D. Countering with an escape clause
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Q13. Which of the following clauses in a conventional mortgage instrument entitles the lender
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to accelerate the loan if the loan is assumed?
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A. Prepayment
dd

B. Due-on-sale
dd

C. Right to sell
dd dd dd

D. Defeasance
dd

[Verified Solution]: B. Due-on- dd dddd dd

sale ***allows a lender to accelerate the loan and demand immediate payment
dd dd dd dd dd dd dd dd dd dd dd

Q14. An agreement of sale becomes enforceable when signed by:
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A. The buyer
dd dd

B. The seller
dd dd

C. The buyer and listing broker
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D. Both buyer and seller
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[Verified Solution]: D. Both buyer and seller
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Q15. A tenant leased property and agrees to pay taxes and insurance. This is a:
dddd dd dd dd dd dd dd dd dd dd dd dd dd dd

A. Gross lease
dd dd

B. Variable lease
dd dd

C. Net lease
dd dd

D. Ground lease
dd dd

[Verified Solution]: C. Net lease dd dddd dd dd

Document information

Uploaded on: August 1, 2026
Number of pages: 28
Written in: 2026/2027
Type: Exam (elaborations)
Contains: Questions & answers

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