REAL ESTATE PRACTICE EXAM QUESTIONS WITH
CORRECT SOLUTIONS 2025-2026 /GRADED A+
1. 4. Principal definition... - ANS☑☑---a consumer of real estate services who
has entered into an agency relationship with a broker or another licensee
employed by a broker.
2. 5. Capitalization definition... - ANS☑☑---the process of determining the
present value of a property from it's future income.
3. 6. What is the salespersons obligation to a buyer under single agency listing?
- ANS☑☑---Inform the buyer
4. 8. All are examples of real estate except... - ANS☑☑---factories
5. 9. What is homeowners insurance? - ANS☑☑---Insurance to protect
owners from fires and other etc.
6. 10. Special agent definition... - ANS☑☑---the type of agency in which the
principal authorizes the agent to represent the agent in "one specific
transaction or business activity"
7. 11. Which is not used to determine cost approach to estimate value?
8. -Quantity Survey Method
9. -Unit-in-Place Method
10.-Square Foot Method
11.-Gross Rent Multiplier Method - ANS☑☑---Gross Rent Multiplier Method
, 12.What is steering? - ANS☑☑---the unlawful act of keeping a buyer away
from certain communities or guiding them to purchase in certain
communities.
13.Entitlement to commission when transaction is not consummated. -
ANS☑☑---Except when listing broker does not disclose information
14.Can a salesperson give legal advice? - ANS☑☑---No, not unless they are
an attorney.
1. Brokerage definition... - ANS☑☑---the business practice of bringing
together the parties in a practice.
2. What are two examples of special use property? - ANS☑☑---schools
and cemetary
3. What is an example of functional obsolescence? - ANS☑☑---bathroom
15.Who determines the commission in a listing contract? - ANS☑☑---An
agreement between the owner and broker
16.19. All are typical duties of a property manager with the exception of... -
ANS☑☑---Investing profits
17.20. Transfer tax is typically paid by for by whom? - ANS☑☑---Buyer and
seller
CORRECT SOLUTIONS 2025-2026 /GRADED A+
1. 4. Principal definition... - ANS☑☑---a consumer of real estate services who
has entered into an agency relationship with a broker or another licensee
employed by a broker.
2. 5. Capitalization definition... - ANS☑☑---the process of determining the
present value of a property from it's future income.
3. 6. What is the salespersons obligation to a buyer under single agency listing?
- ANS☑☑---Inform the buyer
4. 8. All are examples of real estate except... - ANS☑☑---factories
5. 9. What is homeowners insurance? - ANS☑☑---Insurance to protect
owners from fires and other etc.
6. 10. Special agent definition... - ANS☑☑---the type of agency in which the
principal authorizes the agent to represent the agent in "one specific
transaction or business activity"
7. 11. Which is not used to determine cost approach to estimate value?
8. -Quantity Survey Method
9. -Unit-in-Place Method
10.-Square Foot Method
11.-Gross Rent Multiplier Method - ANS☑☑---Gross Rent Multiplier Method
, 12.What is steering? - ANS☑☑---the unlawful act of keeping a buyer away
from certain communities or guiding them to purchase in certain
communities.
13.Entitlement to commission when transaction is not consummated. -
ANS☑☑---Except when listing broker does not disclose information
14.Can a salesperson give legal advice? - ANS☑☑---No, not unless they are
an attorney.
1. Brokerage definition... - ANS☑☑---the business practice of bringing
together the parties in a practice.
2. What are two examples of special use property? - ANS☑☑---schools
and cemetary
3. What is an example of functional obsolescence? - ANS☑☑---bathroom
15.Who determines the commission in a listing contract? - ANS☑☑---An
agreement between the owner and broker
16.19. All are typical duties of a property manager with the exception of... -
ANS☑☑---Investing profits
17.20. Transfer tax is typically paid by for by whom? - ANS☑☑---Buyer and
seller
