ESTATE PRINCIPLES: ONLINE EXAM
FIRST TUESDAY 2026 COMPLETE
PRACTICE QUESTIONS, VERIFIED
CORRECT ANSWERS AND
COMPREHENSIVE REAL ESTATE REAL
STUDY GUIDE
74. _____ occurs when an owner-in-foreclosure pays all sums due under
the note and trust deed and reimburses the lender's costs of foreclosure,
prior to completion of the trustee's sale. - CORRECT ANSWER -a)
Redemption of the property in foreclosure
1. The _____ oversees, regulates, administers and enforces the real estate
law. - CORRECT ANSWER -b) Department of Real Estate (DRE)
2. To be eligible for an agent license, the applicant needs to complete
mandatory education, pass the qualifying exam and _____ : - CORRECT
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). - CORRECT 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. -
CORRECT 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. - CORRECT 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.
- CORRECT ANSWER -d) Real Estate Recovery Fund
7. Agency in real estate related transactions includes relationships between
brokers and their: - CORRECT 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? -
CORRECT 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. - CORRECT ANSWER -a) conflict of
interest
10. A broker who simultaneously represents the best interests of opposing
parties in a transaction is known as a: - CORRECT ANSWER -b) dual agent
FIRST TUESDAY 2026 COMPLETE
PRACTICE QUESTIONS, VERIFIED
CORRECT ANSWERS AND
COMPREHENSIVE REAL ESTATE REAL
STUDY GUIDE
74. _____ occurs when an owner-in-foreclosure pays all sums due under
the note and trust deed and reimburses the lender's costs of foreclosure,
prior to completion of the trustee's sale. - CORRECT ANSWER -a)
Redemption of the property in foreclosure
1. The _____ oversees, regulates, administers and enforces the real estate
law. - CORRECT ANSWER -b) Department of Real Estate (DRE)
2. To be eligible for an agent license, the applicant needs to complete
mandatory education, pass the qualifying exam and _____ : - CORRECT
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). - CORRECT 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. -
CORRECT 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. - CORRECT 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.
- CORRECT ANSWER -d) Real Estate Recovery Fund
7. Agency in real estate related transactions includes relationships between
brokers and their: - CORRECT 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? -
CORRECT 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. - CORRECT ANSWER -a) conflict of
interest
10. A broker who simultaneously represents the best interests of opposing
parties in a transaction is known as a: - CORRECT ANSWER -b) dual agent
