Principles I 2025/2026 Exam Questions
with 100% Correct Answers | Latest
Update
Broker's Price Opinion (BPO) - 🧠 ANSWER ✔✔A broker's price opinion is
the process used by a hired sales agent to determine the potential selling
price or estimated value of a real estate property
Closing - 🧠 ANSWER ✔✔The completion of a real estate transaction in
which the buyer receives ownership and the seller receives the contract
amount
, Comparative Market Analysis (CMA) - 🧠 ANSWER ✔✔A report comparing
the prices of sold homes that are similar to the subject property (called
comparables), created by a license holder to help the seller or buyer
determine the market value
Seller's Market - 🧠 ANSWER ✔✔a market condition in which the number of
properties for sale does not meet the demand (number of people looking to
buy)
Buyer's Market - 🧠 ANSWER ✔✔relatively low demand for real estate in the
area (it will take 6 months or more to sell a house)
Agent - 🧠 ANSWER ✔✔A person who acts on behalf of someone else
Seller's Disclosure Notice - 🧠 ANSWER ✔✔A document filled out by the
seller concerning any defects in the improvements on the property
Subagent - 🧠 ANSWER ✔✔A license holder from one office who represents
the seller through cooperation with the listing broker of another company
Material Fact - 🧠 ANSWER ✔✔Any fact that is significant or essential to the
transaction