ACEABLE AGENT - PRINCIPLES OF REAL ESTATE II EXAM NEWEST 2026 WITH COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) PLUS RATIONALES |ALREADY GRADED A+||BRAND NEW VERSION!!

ACEABLE AGENT - PRINCIPLES OF REAL ESTATE II EXAM
NEWEST 2026 WITH COMPLETE QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED ANSWERS)
PLUS RATIONALES |ALREADY GRADED A+||BRAND
NEW VERSION!!




Aceable Agent Principles of Real Estate II Exam: Questions 1-60
1. What is the repayment of a loan principal over time called?
A) Arrears
B) Proration
C) Amortization
D) Leverage
Correct Answer-: C) Amortization.
Rationale: Amortization refers to the schedule by which a loan's principal is
gradually paid down over the life of the loan through regular payments .
2. Payment for an item or service after it has been received is known as:
A) Down payment
B) Arrears
C) Principal
D) Interest
Correct Answer-: B) Arrears.
Rationale: Paying in arrears means the payment is made after the service or
period has occurred, such as mortgage interest paid at the end of the month .

,3. The initial payment made when buying something on credit, paid directly by
the buyer to the seller, is called the:
A) Principal
B) Interest
C) Down payment
D) Proration
Correct Answer-: C) Down payment.
Rationale: The down payment is the upfront portion of the purchase price paid by
the buyer, which reduces the amount needed to finance .
4. The allocation or distribution of an annual expense across smaller chunks of
time is called:
A) Amortization
B) Proration
C) Depreciation
D) Reconciliation
Correct Answer-: B) Proration.
Rationale: Proration is commonly used at closing to divide expenses like property
taxes and insurance fairly between the buyer and seller .
5. A unit of measurement used to determine the size of land; 1 acre equals:
A) 40,000 square feet
B) 43,560 square feet
C) 45,000 square feet
D) 50,000 square feet
Correct Answer-: B) 43,560 square feet.
Rationale: An acre is a standard unit of land measurement equivalent to 43,560
square feet .
6. The value of property, based on factors determined by a certified appraiser, is
the:
A) Assessed value
B) Market value
C) Appraisal
D) Loan-to-Value Ratio

,Correct Answer-: C) Appraisal.
Rationale: An appraisal is a professional opinion of value conducted by a licensed
appraiser .
7. Information about the area surrounding a property, such as the city, region,
and neighborhood, is known as:
A) Specific data
B) General data
C) Limited data
D) Comparative data
Correct Answer-: B) General data.
Rationale: General data refers to external factors influencing property value,
while specific data relates to the property itself .
8. Information regarding the property itself is known as:
A) General data
B) Specific data
C) External data
D) Market data
Correct Answer-: B) Specific data.
Rationale: Specific data includes details about the subject property's condition,
features, and improvements .
9. A simpler, abbreviated version of a regular appraisal is called a:
A) Desk review
B) Field review
C) Limited appraisal
D) Comparative Market Analysis
Correct Answer-: C) Limited appraisal.
Rationale: A limited appraisal uses fewer verification methods and may rely on
less data than a full appraisal .
10. The price for which a property would sell if offered openly under normal
market conditions is the:
A) Appraised value
B) Assessed value

, C) Market value
D) Loan value
Correct Answer-: C) Market value.
Rationale: Market value represents the most probable price a willing buyer and
seller would agree upon in an arm's-length transaction .
11. The value given by a licensed appraiser during the mortgage origination
process, where appraisers are chosen by the lender but paid for by the
homebuyer, is the:
A) Assessed value
B) Market value
C) Appraised value
D) Tax value
Correct Answer-: C) Appraised value.
Rationale: Lenders rely on the appraised value to ensure the property is worth the
loan amount .
12. The value placed on a property by a governmental unit for use in levying
annual real estate taxes is the:
A) Appraised value
B) Market value
C) Assessed value
D) Fair market value
Correct Answer-: C) Assessed value.
Rationale: Assessed value is used by local governments to calculate property tax
bills .
13. The limit on the value of a loan, usually a certain percentage of the home's
appraised value or sales price (whichever is lower), is the:
A) Principal
B) Interest rate
C) Loan-to-Value Ratio (LTV)
D) Origination fee