Puerto Rico Real Estate Salesperson
Examination Questions and Correct
Answers (Verified Answers) Plus
Rationales 2026 Q&A | Instant
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1. Which of the following is considered real property?
A. A movable couch
B. A refrigerator
C. Land and buildings
D. A car
Rationale: Land and buildings are immovable and thus classified as
real property, whereas personal property includes items that can be
moved.
2. A sales contract in real estate must include:
A. Only the buyer’s name
, B. Only the seller’s signature
C. Property description, purchase price, and signatures of both
parties
D. Only the purchase price
Rationale: For a contract to be legally enforceable, it must clearly
identify the property, state the agreed price, and include signatures of
both buyer and seller.
3. In Puerto Rico, who regulates real estate licensing?
A. Department of Commerce
B. Puerto Rico Bar Association
C. Puerto Rico Department of Consumer Affairs (DACO)
D. Puerto Rico Treasury Department
Rationale: The Puerto Rico Department of Consumer Affairs oversees
real estate licensure and ensures compliance with laws.
4. The type of listing where the broker earns a commission only if
they procure a buyer is called:
A. Open listing
B. Exclusive right to sell listing
C. Net listing
D. Exclusive agency listing
,Rationale: Exclusive right to sell listings guarantee the broker a
commission regardless of who finds the buyer, distinguishing them
from exclusive agency listings.
5. The legal principle that requires contracts to be performed in good
faith is called:
A. Caveat emptor
B. Lien priority
C. Doctrine of good faith
D. Eminent domain
Rationale: The doctrine of good faith obligates parties to act honestly
and fairly in contractual agreements.
6. When a broker represents both the buyer and the seller in the
same transaction, this is known as:
A. Single agency
B. Dual agency
C. Limited agency
D. Subagency
Rationale: Dual agency occurs when one broker represents both
parties; it requires informed consent from both.
7. A property’s market value is best described as:
A. The price the seller wants
, B. The mortgage balance
C. The most probable price a property should bring in a
competitive market
D. The assessed tax value
Rationale: Market value reflects the price a willing buyer would pay to
a willing seller under normal conditions.
8. A real estate licensee must disclose material defects:
A. Only if asked
B. Only if they are visible
C. Even if the buyer does not ask
D. Only in new construction
Rationale: Puerto Rico law requires disclosure of material facts that
could affect the buyer’s decision, regardless of whether the buyer
asks.
9. Which type of deed provides the greatest protection to a buyer?
A. Quitclaim deed
B. Bargain and sale deed
C. Warranty deed
D. Executor’s deed
Rationale: A warranty deed guarantees that the property is free of
encumbrances and that the seller has the legal right to sell.
Examination Questions and Correct
Answers (Verified Answers) Plus
Rationales 2026 Q&A | Instant
Download Pdf
1. Which of the following is considered real property?
A. A movable couch
B. A refrigerator
C. Land and buildings
D. A car
Rationale: Land and buildings are immovable and thus classified as
real property, whereas personal property includes items that can be
moved.
2. A sales contract in real estate must include:
A. Only the buyer’s name
, B. Only the seller’s signature
C. Property description, purchase price, and signatures of both
parties
D. Only the purchase price
Rationale: For a contract to be legally enforceable, it must clearly
identify the property, state the agreed price, and include signatures of
both buyer and seller.
3. In Puerto Rico, who regulates real estate licensing?
A. Department of Commerce
B. Puerto Rico Bar Association
C. Puerto Rico Department of Consumer Affairs (DACO)
D. Puerto Rico Treasury Department
Rationale: The Puerto Rico Department of Consumer Affairs oversees
real estate licensure and ensures compliance with laws.
4. The type of listing where the broker earns a commission only if
they procure a buyer is called:
A. Open listing
B. Exclusive right to sell listing
C. Net listing
D. Exclusive agency listing
,Rationale: Exclusive right to sell listings guarantee the broker a
commission regardless of who finds the buyer, distinguishing them
from exclusive agency listings.
5. The legal principle that requires contracts to be performed in good
faith is called:
A. Caveat emptor
B. Lien priority
C. Doctrine of good faith
D. Eminent domain
Rationale: The doctrine of good faith obligates parties to act honestly
and fairly in contractual agreements.
6. When a broker represents both the buyer and the seller in the
same transaction, this is known as:
A. Single agency
B. Dual agency
C. Limited agency
D. Subagency
Rationale: Dual agency occurs when one broker represents both
parties; it requires informed consent from both.
7. A property’s market value is best described as:
A. The price the seller wants
, B. The mortgage balance
C. The most probable price a property should bring in a
competitive market
D. The assessed tax value
Rationale: Market value reflects the price a willing buyer would pay to
a willing seller under normal conditions.
8. A real estate licensee must disclose material defects:
A. Only if asked
B. Only if they are visible
C. Even if the buyer does not ask
D. Only in new construction
Rationale: Puerto Rico law requires disclosure of material facts that
could affect the buyer’s decision, regardless of whether the buyer
asks.
9. Which type of deed provides the greatest protection to a buyer?
A. Quitclaim deed
B. Bargain and sale deed
C. Warranty deed
D. Executor’s deed
Rationale: A warranty deed guarantees that the property is free of
encumbrances and that the seller has the legal right to sell.
