Ace your upcoming real estate licensing test or course final with this complete, high-
yield practice exam package.
What is Included
• 100 Core Questions: Real-world multiple-choice questions covering key real
estate principles.
• Verified Answers: Accurate, exam-standard answers provided for every
single question.
• Clear Explanations: Detailed breakdowns explaining why the correct answer
is right so you master the concept.
Topics Covered
•Property ownership, interests, and land use controls.
• Real estate contracts, agency relationships, and disclosure laws.
• Real estate finance, mortgages, and federal lending laws.
• Property valuation, appraisal methods, and market analysis.
• Real estate math calculations (prorations, commissions, area).
• Fair housing laws and ethical practices.
Why Buy This Guide
Save Time: Skip re-reading the entire textbook and focus on high-frequency
•
exam topics.
• Boost Confidence: Practice under real test conditions before exam day.
• Pass on the First Try: Ideal for students preparing for state licensing exams
or college real estate finals.
1. A real estate licensee has a buyer agency agreement. What is the
seller in this situation?
• Answer✅: A customer.
• Rationale: In an agency relationship, the party represented by the broker is the client
(principal). Since the licensee represents the buyer via a buyer agency agreement, the
seller is a third party, legally referred to as a customer, to whom the agent owes
honesty and fairness but not fiduciary duties.
1
, 2. An optionor and an optionee make a contract for an option on a
commercial piece of property. If the optionee decides to exercise his
option, when must he perform?
• Answer✅: He must exercise his option under the terms of the option contract.
• Rationale: An option contract is a unilateral agreement that binds the seller (optionor)
but leaves the choice to the buyer (optionee). If the optionee decides to move forward,
they must strictly adhere to the specific deadlines, terms, and conditions outlined in
that contract.
3. When can a landlord evict a disabled blind or disabled tenant from
the premises?
• Answer✅: If the tenant has loud parties, makes too much noise, and is
constantly disturbing other tenants.
• Rationale: Fair Housing laws protect individuals with disabilities from
discrimination, but they do not exempt them from standard lease terms regarding
conduct. A landlord can evict a disabled tenant for legitimate, non-discriminatory
reasons, such as violating community rules or disturbing the quiet enjoyment of
neighbors.
4. Broker Carr, with ABC Real Estate Company, listed the property
with a seller. Broker Smith, with XYZ Real Estate Company, called
Broker Carr, and disclosed that he was a Buyer Agent. Broker Smith
wrote a contract with a buyer for the sale of the property. What, if
any, is the relationship between the buyer's broker, the seller and the
listing broker?
• Answer✅: There is not a relationship between the parties. Broker Carr
represents the Seller and Broker Smith represents the Buyer.
• Rationale: Both brokers are acting as exclusive single agents for their respective
clients. There is no subagency or dual agency relationship here; the listing broker
exclusively owes fiduciary duties to the seller, and the buyer's broker exclusively
owes fiduciary duties to the buyer.
5. A buyer bought a property without telling the seller of his intended
purpose for the property. The contract contains no contingency
clauses and it is a properly executed contract. After the closing, the
2
yield practice exam package.
What is Included
• 100 Core Questions: Real-world multiple-choice questions covering key real
estate principles.
• Verified Answers: Accurate, exam-standard answers provided for every
single question.
• Clear Explanations: Detailed breakdowns explaining why the correct answer
is right so you master the concept.
Topics Covered
•Property ownership, interests, and land use controls.
• Real estate contracts, agency relationships, and disclosure laws.
• Real estate finance, mortgages, and federal lending laws.
• Property valuation, appraisal methods, and market analysis.
• Real estate math calculations (prorations, commissions, area).
• Fair housing laws and ethical practices.
Why Buy This Guide
Save Time: Skip re-reading the entire textbook and focus on high-frequency
•
exam topics.
• Boost Confidence: Practice under real test conditions before exam day.
• Pass on the First Try: Ideal for students preparing for state licensing exams
or college real estate finals.
1. A real estate licensee has a buyer agency agreement. What is the
seller in this situation?
• Answer✅: A customer.
• Rationale: In an agency relationship, the party represented by the broker is the client
(principal). Since the licensee represents the buyer via a buyer agency agreement, the
seller is a third party, legally referred to as a customer, to whom the agent owes
honesty and fairness but not fiduciary duties.
1
, 2. An optionor and an optionee make a contract for an option on a
commercial piece of property. If the optionee decides to exercise his
option, when must he perform?
• Answer✅: He must exercise his option under the terms of the option contract.
• Rationale: An option contract is a unilateral agreement that binds the seller (optionor)
but leaves the choice to the buyer (optionee). If the optionee decides to move forward,
they must strictly adhere to the specific deadlines, terms, and conditions outlined in
that contract.
3. When can a landlord evict a disabled blind or disabled tenant from
the premises?
• Answer✅: If the tenant has loud parties, makes too much noise, and is
constantly disturbing other tenants.
• Rationale: Fair Housing laws protect individuals with disabilities from
discrimination, but they do not exempt them from standard lease terms regarding
conduct. A landlord can evict a disabled tenant for legitimate, non-discriminatory
reasons, such as violating community rules or disturbing the quiet enjoyment of
neighbors.
4. Broker Carr, with ABC Real Estate Company, listed the property
with a seller. Broker Smith, with XYZ Real Estate Company, called
Broker Carr, and disclosed that he was a Buyer Agent. Broker Smith
wrote a contract with a buyer for the sale of the property. What, if
any, is the relationship between the buyer's broker, the seller and the
listing broker?
• Answer✅: There is not a relationship between the parties. Broker Carr
represents the Seller and Broker Smith represents the Buyer.
• Rationale: Both brokers are acting as exclusive single agents for their respective
clients. There is no subagency or dual agency relationship here; the listing broker
exclusively owes fiduciary duties to the seller, and the buyer's broker exclusively
owes fiduciary duties to the buyer.
5. A buyer bought a property without telling the seller of his intended
purpose for the property. The contract contains no contingency
clauses and it is a properly executed contract. After the closing, the
2
