REAL ESTATE CONTRACTS CORE EXAMS SET 2026/2027
QUESTIONS AND SOLUTIONS RATED A+
✔✔8-1
Sam agrees to enter a lease agreement to have Jane occupy his property in exchange
for rent. Who holds a reversionary right to the property? - ✔✔Sam
✔✔8-2
Section 28 of the Residential Lease Form states that a sublessor is: - ✔✔still primarily
liable for paying rent to the owner
✔✔9-1
Although homebuyers and sellers use the services of real estate agents, most have
limited understanding of the agency representation. Therefore, what are real estate
agents required to provide at the first personal meeting with potential sellers or buyers?
- ✔✔Agency Disclosure Statement
✔✔9-2
An "as is" clause in a real estate purchase agreement: - ✔✔does not relieve a seller
from the responsibility to disclose all known material facts to a buyer
✔✔9-3
Where on the Seller's Disclosure of Property Condition does the seller indicate whether
or not they are occupying the property? - ✔✔just above Section 1
✔✔9-4
Regarding the Seller's Disclosure of Property Condition form, if an answer is "yes" to a
question regarding the condition of of the property, what should the seller do if there is
not enough space on the form to provide a complete answer? - ✔✔make a note on the
form that the buyer should see the attached sheet providing a more detailed answer
✔✔9-5
Which tax laws are affected by the Foreign Investment in Real Property Tax Act
(FIRPTA)? - ✔✔federal and state
✔✔10-1
Which of these in an example of a closing cost? - ✔✔-PROPERTY TAXES
-RECORDING FEES
-TITLE INSURANCE
✔✔10-2
An escrow is termed "complete" when: - ✔✔all terms and conditions of the escrow
instructions have been fulfilled
, ✔✔3-1
A legal relationship in which a principal authorizes an agent to act as the principal's
representative when dealing with third parties is known as: - ✔✔agency.
✔✔3-2
An agency relationship may be terminated by all of the following, except: - ✔✔-a fire
destroying the property that is subject of the agency contract
-THE PRINCIPALS REFUSAL OF AN OFFER TO PURCHASE PRESENTED IN THE
NAME OF A THIRD PARTY
-mutual agreement of both the principal and the agent before the original term expires
-the renunciation of the agency the the agent
✔✔3 Exam
In order for an intermediary relationship to exist, it is mandatory to have a(n): -
✔✔written employment contract signed and agreed on by tho buyer and seller.
✔✔4-1
One of the most commonly used real estate contract forms is the listing agreement.
Which of the following is a type of listing agreement? - ✔✔open listing, net listing, and
exclusive right to sell listing.
✔✔4-2
If a seller does not want to include in the sale of their home the chandelier that hangs
over the table in the formal dining room, which section of the TAR 1101 form should the
agent complete? - ✔✔the seller should compete property Section 2(D) and list the
chandelier as a fixture that the seller will not leave with the property.
✔✔4-3
With an Exclusive Right to Sell Listing Agreement, can a broker be compensated before
the close of the sale? - ✔✔Yes. The broker is compensated when he property is sold,
whether the seller finds a buyer or a cooperating broker brings a buyer during the term
of the listing agreement.
✔✔4-4
If a seller does not want the broker, who is listing their home for sale, to represent the
buyer on the purchase of their home, how would the salesperson complete the Listing
Agreement in order to reflect the seller's wishes? - ✔✔the salesperson would check
block 9(B) No Intermediary Status - on the listing agreement.
✔✔4-5
If a seller, during the listing period, decides to rent a room in the home they have listed
for sale, what are they obligations of the seller to the broker? - ✔✔the seller may rent a
room to someone during the listing period, after advising her or her listing broker and
providing copies of any rental agreements to the broker.
QUESTIONS AND SOLUTIONS RATED A+
✔✔8-1
Sam agrees to enter a lease agreement to have Jane occupy his property in exchange
for rent. Who holds a reversionary right to the property? - ✔✔Sam
✔✔8-2
Section 28 of the Residential Lease Form states that a sublessor is: - ✔✔still primarily
liable for paying rent to the owner
✔✔9-1
Although homebuyers and sellers use the services of real estate agents, most have
limited understanding of the agency representation. Therefore, what are real estate
agents required to provide at the first personal meeting with potential sellers or buyers?
- ✔✔Agency Disclosure Statement
✔✔9-2
An "as is" clause in a real estate purchase agreement: - ✔✔does not relieve a seller
from the responsibility to disclose all known material facts to a buyer
✔✔9-3
Where on the Seller's Disclosure of Property Condition does the seller indicate whether
or not they are occupying the property? - ✔✔just above Section 1
✔✔9-4
Regarding the Seller's Disclosure of Property Condition form, if an answer is "yes" to a
question regarding the condition of of the property, what should the seller do if there is
not enough space on the form to provide a complete answer? - ✔✔make a note on the
form that the buyer should see the attached sheet providing a more detailed answer
✔✔9-5
Which tax laws are affected by the Foreign Investment in Real Property Tax Act
(FIRPTA)? - ✔✔federal and state
✔✔10-1
Which of these in an example of a closing cost? - ✔✔-PROPERTY TAXES
-RECORDING FEES
-TITLE INSURANCE
✔✔10-2
An escrow is termed "complete" when: - ✔✔all terms and conditions of the escrow
instructions have been fulfilled
, ✔✔3-1
A legal relationship in which a principal authorizes an agent to act as the principal's
representative when dealing with third parties is known as: - ✔✔agency.
✔✔3-2
An agency relationship may be terminated by all of the following, except: - ✔✔-a fire
destroying the property that is subject of the agency contract
-THE PRINCIPALS REFUSAL OF AN OFFER TO PURCHASE PRESENTED IN THE
NAME OF A THIRD PARTY
-mutual agreement of both the principal and the agent before the original term expires
-the renunciation of the agency the the agent
✔✔3 Exam
In order for an intermediary relationship to exist, it is mandatory to have a(n): -
✔✔written employment contract signed and agreed on by tho buyer and seller.
✔✔4-1
One of the most commonly used real estate contract forms is the listing agreement.
Which of the following is a type of listing agreement? - ✔✔open listing, net listing, and
exclusive right to sell listing.
✔✔4-2
If a seller does not want to include in the sale of their home the chandelier that hangs
over the table in the formal dining room, which section of the TAR 1101 form should the
agent complete? - ✔✔the seller should compete property Section 2(D) and list the
chandelier as a fixture that the seller will not leave with the property.
✔✔4-3
With an Exclusive Right to Sell Listing Agreement, can a broker be compensated before
the close of the sale? - ✔✔Yes. The broker is compensated when he property is sold,
whether the seller finds a buyer or a cooperating broker brings a buyer during the term
of the listing agreement.
✔✔4-4
If a seller does not want the broker, who is listing their home for sale, to represent the
buyer on the purchase of their home, how would the salesperson complete the Listing
Agreement in order to reflect the seller's wishes? - ✔✔the salesperson would check
block 9(B) No Intermediary Status - on the listing agreement.
✔✔4-5
If a seller, during the listing period, decides to rent a room in the home they have listed
for sale, what are they obligations of the seller to the broker? - ✔✔the seller may rent a
room to someone during the listing period, after advising her or her listing broker and
providing copies of any rental agreements to the broker.
