REAL ESTATE EXAM
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Exam Solution
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Real Estate Final Exam Review 2026 A+ GRADE ASSUR
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ED COMPLETE SOLUTIONS AND VERIFIED ANSWERS (8
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F800)
QUESTION 1 @x
Term
ANSWER
Definition
QUESTION 2 @x
Price fixing, group boycotting, allocating markets and tie in agreements are
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ANSWER
antitrust law violations
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QUESTION 3 @x
amount of exclusion that taxpayers who file singly are entitled to a
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ANSWER
$250k
QUESTION 4 @x
supply increases and demand remains stable, prices go down
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ANSWER
buyer's market@x
,QUESTION 5 @x
demand increases and supply remains stable, prices go up
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ANSWER
seller's market @x
QUESTION 6 @x
the paid-off share of the property; current value minus what is still owed
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ANSWER
equity
QUESTION 7 @x
Mortgage Interest Pmts on 1st & 2nd homes for balances under $1mill, or $500k if m
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arried filing separately & Real Estate Taxes from their gross income
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ANSWER
homeowners' tax deductions @x @x
QUESTION 8 @x
amount excluded from capital gains tax for profits on the sale of a principal residenc
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e by married taxpayers who file jointly
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ANSWER
$500k
QUESTION 9 @x
basic form of Homeowners' Insurance covers
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ANSWER
fire & lightening, but not flood
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QUESTION 10 @x
Broker's compensation is NEGOTIABLE
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ANSWER
in every case
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, QUESTION 11 @x
The amount of compensation a salesperson receives is set by
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ANSWER
mutual agreement between broker and salesperson
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QUESTION 12 @x
A salesperson's compensation can only be paid by the
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ANSWER
employing broker @x
QUESTION 13 @x
Independent contractors are responsible for paying their own
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ANSWER
taxes and benefits
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QUESTION 14 @x
relationship in which the agent is placed in the position of special trust and confiden
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ce to the principal
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ANSWER
fiduciary relationship @x
QUESTION 15 @x
a key element of a fiduciary relationship
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ANSWER
confidentiality
QUESTION 16 @x
confidentiality means an agent @x @x @x
ANSWER
may not disclose the principal's financial condition.
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@x @x
Exam Solution
@x
Real Estate Final Exam Review 2026 A+ GRADE ASSUR
@x @x @x @x @x @x @x @x
ED COMPLETE SOLUTIONS AND VERIFIED ANSWERS (8
@x @x @x @x @x @x
F800)
QUESTION 1 @x
Term
ANSWER
Definition
QUESTION 2 @x
Price fixing, group boycotting, allocating markets and tie in agreements are
@x @x @x @x @x @x @x @x @x @x
ANSWER
antitrust law violations
@x @x
QUESTION 3 @x
amount of exclusion that taxpayers who file singly are entitled to a
@x @x @x @x @x @x @x @x @x @x @x
ANSWER
$250k
QUESTION 4 @x
supply increases and demand remains stable, prices go down
@x @x @x @x @x @x @x @x
ANSWER
buyer's market@x
,QUESTION 5 @x
demand increases and supply remains stable, prices go up
@x @x @x @x @x @x @x @x
ANSWER
seller's market @x
QUESTION 6 @x
the paid-off share of the property; current value minus what is still owed
@x @x @x @x @x @x @x @x @x @x @x @x
ANSWER
equity
QUESTION 7 @x
Mortgage Interest Pmts on 1st & 2nd homes for balances under $1mill, or $500k if m
@x @x @x @x @x @x @x @x @x @x @x @x @x @x @x
arried filing separately & Real Estate Taxes from their gross income
@x @x @x @x @x @x @x @x @x @x
ANSWER
homeowners' tax deductions @x @x
QUESTION 8 @x
amount excluded from capital gains tax for profits on the sale of a principal residenc
@x @x @x @x @x @x @x @x @x @x @x @x @x @x
e by married taxpayers who file jointly
@x @x @x @x @x @x
ANSWER
$500k
QUESTION 9 @x
basic form of Homeowners' Insurance covers
@x @x @x @x @x
ANSWER
fire & lightening, but not flood
@x @x @x @x @x
QUESTION 10 @x
Broker's compensation is NEGOTIABLE
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ANSWER
in every case
@x @x
, QUESTION 11 @x
The amount of compensation a salesperson receives is set by
@x @x @x @x @x @x @x @x @x
ANSWER
mutual agreement between broker and salesperson
@x @x @x @x @x
QUESTION 12 @x
A salesperson's compensation can only be paid by the
@x @x @x @x @x @x @x @x
ANSWER
employing broker @x
QUESTION 13 @x
Independent contractors are responsible for paying their own
@x @x @x @x @x @x @x
ANSWER
taxes and benefits
@x @x
QUESTION 14 @x
relationship in which the agent is placed in the position of special trust and confiden
@x @x @x @x @x @x @x @x @x @x @x @x @x @x
ce to the principal
@x @x @x
ANSWER
fiduciary relationship @x
QUESTION 15 @x
a key element of a fiduciary relationship
@x @x @x @x @x @x
ANSWER
confidentiality
QUESTION 16 @x
confidentiality means an agent @x @x @x
ANSWER
may not disclose the principal's financial condition.
@x @x @x @x @x @x
