ACEABLE REAL ESTATE ACTUAL EXAM
PAPER 2026 QUESTIONS WITH ANSWERS
GRADED A+
◍ acceleration clause. Answer: a clause in a security instrument
which makes the entire loan amount due immediately upon default
◍ accession. Answer: is the right to all that one's own property
produces, including that which is added, either naturally or by human
action, to the property already owned.
◍ accretion. Answer: the process that results in the gradual increase
in land area through deposits of soil by natural forces
◍ acre. Answer: a measurement of land equal to 43,560 square feet
◍ actual eviction. Answer: the legal process by which someone is
expelled from a property and prevented from re-entry
◍ actual notice. Answer: when an individual actually knows of a fact
◍ ad valorem taxes. Answer: a tax calculated according to the
assessed value of a piece of real estate
,◍ adjustable-rate mortgage (ARM). Answer: a mortgage with an
interest rate that can be adjusted based on fluctuations in the cost of
money
◍ adverse possession. Answer: involuntary transfer of title from an
owner who does not use or inspect their land for a number of years to
another person who has some claim to the land and takes possession
◍ agency agreement. Answer: a mutual binding understanding
between two parties that authorizes another party to act on their behalf
◍ agent. Answer: an individual with authority to act on behalf of
another; a state license is required to operate as an agent in real estate
◍ air rights. Answer: the right to use the airspace above the surface of
land
◍ air space. Answer: the area above ground that is owned along with
a property. could include space above a piece of land, or the space
owned inside a condominium unit.
◍ alienation. Answer: the transfer of ownership (title) to real property.
alienation may be voluntary or involuntary.
◍ Americans with Disabilities Act. Answer: a federal civil rights law
passed in 1990 which prohibits discrimination against and create
standards for people with disabilities
,◍ amortization. Answer: the process of paying off a debt/mortgage in
regular installments based on a fixed payment schedule
◍ Annual Percentage Rate (APR). Answer: how much the borrower
will pay in interest over the course of a year
◍ antitrust laws. Answer: laws designed at preventing unfair or anti-
competitive practices such as price fixing, collusion, monopolies, etc.
◍ appraised value. Answer: an estimation of property's value as of a
specific date, performed by a certified appraiser
◍ appraiser. Answer: an individual who is trained and licensed to
perform appraisals, which estimate the value of real property
◍ appreciation. Answer: the increase in value of a property
◍ appurtenances. Answer: rights that run with real property
ownership; most often transferred with the property, but possible to
sell separately
◍ asbestos. Answer: a naturally occurring mineral fiber that is
commonly used in insulation but if airborne or inhaled, can cause
severe respiratory health issues
, ◍ assemblage. Answer: the combining of multiple contiguous pieces
of real property into a single tract of land, often resulting in an
increase in value
◍ assessed value. Answer: the value placed on a property by a
governmental unit for use in calculating property taxes
◍ assessment. Answer: the determination of the value of a property
for tax purposes
◍ asset. Answer: item of value
◍ assignment. Answer: the transference of rights and obligations in a
contract from one party to another
◍ associate broker. Answer: an individual who meets the licensure
requirements to be a real estate broker but provides real estate
brokerage services as an independent contractor to a real estate broker
◍ avulsion. Answer: the sudden loss of land by flood or when a
stream or river changes course.
◍ balloon payment. Answer: a payment at the end of a loan period
which includes the total outstanding balance of the loan.
PAPER 2026 QUESTIONS WITH ANSWERS
GRADED A+
◍ acceleration clause. Answer: a clause in a security instrument
which makes the entire loan amount due immediately upon default
◍ accession. Answer: is the right to all that one's own property
produces, including that which is added, either naturally or by human
action, to the property already owned.
◍ accretion. Answer: the process that results in the gradual increase
in land area through deposits of soil by natural forces
◍ acre. Answer: a measurement of land equal to 43,560 square feet
◍ actual eviction. Answer: the legal process by which someone is
expelled from a property and prevented from re-entry
◍ actual notice. Answer: when an individual actually knows of a fact
◍ ad valorem taxes. Answer: a tax calculated according to the
assessed value of a piece of real estate
,◍ adjustable-rate mortgage (ARM). Answer: a mortgage with an
interest rate that can be adjusted based on fluctuations in the cost of
money
◍ adverse possession. Answer: involuntary transfer of title from an
owner who does not use or inspect their land for a number of years to
another person who has some claim to the land and takes possession
◍ agency agreement. Answer: a mutual binding understanding
between two parties that authorizes another party to act on their behalf
◍ agent. Answer: an individual with authority to act on behalf of
another; a state license is required to operate as an agent in real estate
◍ air rights. Answer: the right to use the airspace above the surface of
land
◍ air space. Answer: the area above ground that is owned along with
a property. could include space above a piece of land, or the space
owned inside a condominium unit.
◍ alienation. Answer: the transfer of ownership (title) to real property.
alienation may be voluntary or involuntary.
◍ Americans with Disabilities Act. Answer: a federal civil rights law
passed in 1990 which prohibits discrimination against and create
standards for people with disabilities
,◍ amortization. Answer: the process of paying off a debt/mortgage in
regular installments based on a fixed payment schedule
◍ Annual Percentage Rate (APR). Answer: how much the borrower
will pay in interest over the course of a year
◍ antitrust laws. Answer: laws designed at preventing unfair or anti-
competitive practices such as price fixing, collusion, monopolies, etc.
◍ appraised value. Answer: an estimation of property's value as of a
specific date, performed by a certified appraiser
◍ appraiser. Answer: an individual who is trained and licensed to
perform appraisals, which estimate the value of real property
◍ appreciation. Answer: the increase in value of a property
◍ appurtenances. Answer: rights that run with real property
ownership; most often transferred with the property, but possible to
sell separately
◍ asbestos. Answer: a naturally occurring mineral fiber that is
commonly used in insulation but if airborne or inhaled, can cause
severe respiratory health issues
, ◍ assemblage. Answer: the combining of multiple contiguous pieces
of real property into a single tract of land, often resulting in an
increase in value
◍ assessed value. Answer: the value placed on a property by a
governmental unit for use in calculating property taxes
◍ assessment. Answer: the determination of the value of a property
for tax purposes
◍ asset. Answer: item of value
◍ assignment. Answer: the transference of rights and obligations in a
contract from one party to another
◍ associate broker. Answer: an individual who meets the licensure
requirements to be a real estate broker but provides real estate
brokerage services as an independent contractor to a real estate broker
◍ avulsion. Answer: the sudden loss of land by flood or when a
stream or river changes course.
◍ balloon payment. Answer: a payment at the end of a loan period
which includes the total outstanding balance of the loan.
