AYPO REAL ESTATE PRINCIPLES OF REAL
ESTATE I COMPREHENSIVE REVIEW SHEET
TESTED QUESTIONS WITH SOLUTIONS
●● 2. To be eligible for an agent license, the applicant needs to complete
mandatory education, pass the qualifying exam and _____ :
Answer: d) make the application on the proper form prescribed by the
DRE.
●● 3. Brokers and agents are required complete a minimum of _____ of
continuing education (CE) every four years to renew a license issued by
the Department of Real Estate (DRE).
Answer: b) 45-Hours
●● 4. A fictitious business name license, also known as a _____ will be
qranted to a broker who has complied with the filing requirements.
Answer: b) DBA (Doing Business As)
●● 5. A _____ is the sale or lease of the operations and goodwill of an
existing business enterprise or opportunity.
Answer: a) business opportunity
,●● 6. The _____ compensates individuals who have obtained a
judgment against a licensee and are unable to recover the judgment from
the licensee.
Answer: d) Real Estate Recovery Fund
●● 7. Agency in real estate related transactions includes relationships
between brokers and their:
Answer: c) Both a and b
●● 8. The Agency Law Disclosure needs to be attached to which of the
following documents and signed by all parties in targeted transactions?
Answer: d. All of the above.
(A purchase contract, Seller's listing agreement, A Lease Agreement for
a term exceeding one year)
●● 9. A(n) _____ exists when an agent has a positive or negative bias
toward an opposing party in a transaction which might hinder their
ability to fully represent the needs of their client.
Answer: a) conflict of interest
●● 10. A broker who simultaneously represents the best interests of
opposing parties in a transaction is known as a:
Answer: b) dual agent
, ●● 11. When a dual agency is established in a one-to-four unit
residential sales transaction, the broker may not:
Answer: a) pass on confidential pricing information to the opposing
parties.
●● 12. _____ are funds belonging to others which a broker and their
agents handle when acting in a transaction.
Answer: c) Trust funds
●● 13. While the federal Civil Rights Act provides general protection
against all prohibited discriminatory activity, the _____ protections are
specifically limited to dwellings, including rental housing.
Answer: d) Federal Fair Housing Act (FFHA)
●● 14. The restriction of a person seeking to buy or rent housing in a
manner that perpetuates segregated housing patterns is referred to as
Answer: c) steering
●● 15. _____ refers to the failure of lenders to provide financing in
certain targeted communities.
Answer: a) Redlining
●● 16. Under the _____ lenders are required to compile and submit
home loan origination data to supervisory agencies.
ESTATE I COMPREHENSIVE REVIEW SHEET
TESTED QUESTIONS WITH SOLUTIONS
●● 2. To be eligible for an agent license, the applicant needs to complete
mandatory education, pass the qualifying exam and _____ :
Answer: d) make the application on the proper form prescribed by the
DRE.
●● 3. Brokers and agents are required complete a minimum of _____ of
continuing education (CE) every four years to renew a license issued by
the Department of Real Estate (DRE).
Answer: b) 45-Hours
●● 4. A fictitious business name license, also known as a _____ will be
qranted to a broker who has complied with the filing requirements.
Answer: b) DBA (Doing Business As)
●● 5. A _____ is the sale or lease of the operations and goodwill of an
existing business enterprise or opportunity.
Answer: a) business opportunity
,●● 6. The _____ compensates individuals who have obtained a
judgment against a licensee and are unable to recover the judgment from
the licensee.
Answer: d) Real Estate Recovery Fund
●● 7. Agency in real estate related transactions includes relationships
between brokers and their:
Answer: c) Both a and b
●● 8. The Agency Law Disclosure needs to be attached to which of the
following documents and signed by all parties in targeted transactions?
Answer: d. All of the above.
(A purchase contract, Seller's listing agreement, A Lease Agreement for
a term exceeding one year)
●● 9. A(n) _____ exists when an agent has a positive or negative bias
toward an opposing party in a transaction which might hinder their
ability to fully represent the needs of their client.
Answer: a) conflict of interest
●● 10. A broker who simultaneously represents the best interests of
opposing parties in a transaction is known as a:
Answer: b) dual agent
, ●● 11. When a dual agency is established in a one-to-four unit
residential sales transaction, the broker may not:
Answer: a) pass on confidential pricing information to the opposing
parties.
●● 12. _____ are funds belonging to others which a broker and their
agents handle when acting in a transaction.
Answer: c) Trust funds
●● 13. While the federal Civil Rights Act provides general protection
against all prohibited discriminatory activity, the _____ protections are
specifically limited to dwellings, including rental housing.
Answer: d) Federal Fair Housing Act (FFHA)
●● 14. The restriction of a person seeking to buy or rent housing in a
manner that perpetuates segregated housing patterns is referred to as
Answer: c) steering
●● 15. _____ refers to the failure of lenders to provide financing in
certain targeted communities.
Answer: a) Redlining
●● 16. Under the _____ lenders are required to compile and submit
home loan origination data to supervisory agencies.
