Real Estate Exam- MO & National Study
With Complete Solutions!!
A seller owned two plots of land that combined for a width of 950 ft and a depth of 1800
ft. A creek divided the north plot from the south plot. What is the total acreage of the two
plots? - ANSWER-Draw a line to divide rectangle horizontally. Write 950 as width &
1800 ft as depth.
Multiple 950 x 1800 =1,710,000
Then divide 1,710,000 by 43,560 to convert to acreage.
Answer is 39.25 rounded
A secretary in a real estate office has passed the salesperson's exam but has not yet
received a license. This person could - ANSWER-give another salesperson in the office
the address of the listed property the other salesperson wants to show
An owner builds a rec room onto her house, neighbor feels it will violate setback lines
established by city building codes. Does neighbor have the right to request an
injunction? - ANSWER-Yes, under these circumstances she may ask for an injunction
A broker recieved EMD from the buyer. Offer wasn't accepted by the seller but money
had already been deposited. What should be done? - ANSWER-Broker should return
EMD immediately to the buyer
In order to be in compliance with the Statute of Frauds, a sales contract must -
ANSWER-be in writing
The owner of an apartment building has just signed a managment agreement with a real
estate firm. In this situation, has an agency been formed? - ANSWER-Yes, an agency is
formed when one party delegates to another the right to act on their behalf.
A property was for sale for $129,000. An offer was made for $123,000. The seller
counteroffered at $127,000. Would this offer be binding? - ANSWER-No offer is binding
until both parties are in agreement.
What best describes a fixture? - ANSWER-it was personal property at one time
, A 16 year old bought a piece of property. Seller found out and wanted to void the deal.
Could he do this? - ANSWER-No, only the buyer could void the contract
X, a single person, and Y, a single person, want to take title to a property. They want
undivided interest. If one dies, the interst will be passed to the other. Which way of
taking title will best suit them? - ANSWER-Joint tenants with the right of survivorship
In the event of an EMD dispute, the broker should - ANSWER-contract sign a release or
release it to the courts
After listing a home with a broker, a seller told the broker NOT to disclose the major
structural damanges in the house. The broker should - ANSWER-tell the buyer of all
defects prior to writing the contract.
To create joint tenancy there must be the unity of - ANSWER-P - possession
I - interest
T - time
T - title
Seller had his home listed with a broker. During listing period, seller found his own
buyer and refused to pay broker commission. Broker sued the seller and won. What
type of listing was this? - ANSWER-Exclusive Right to Sell
A property manager normally is in charge of all of the following duties except -
ANSWER-repairing a tenant's fixture
In 1988, John Smith built a 3 story apt building. To comply with Federal Fair Housing -
ANSWER-Handicap tenants would need to have access to at least the first floor
Elective credits for continuing education could be granted for a course - ANSWER-that
is exclusively video-taped for classroom courses
With Complete Solutions!!
A seller owned two plots of land that combined for a width of 950 ft and a depth of 1800
ft. A creek divided the north plot from the south plot. What is the total acreage of the two
plots? - ANSWER-Draw a line to divide rectangle horizontally. Write 950 as width &
1800 ft as depth.
Multiple 950 x 1800 =1,710,000
Then divide 1,710,000 by 43,560 to convert to acreage.
Answer is 39.25 rounded
A secretary in a real estate office has passed the salesperson's exam but has not yet
received a license. This person could - ANSWER-give another salesperson in the office
the address of the listed property the other salesperson wants to show
An owner builds a rec room onto her house, neighbor feels it will violate setback lines
established by city building codes. Does neighbor have the right to request an
injunction? - ANSWER-Yes, under these circumstances she may ask for an injunction
A broker recieved EMD from the buyer. Offer wasn't accepted by the seller but money
had already been deposited. What should be done? - ANSWER-Broker should return
EMD immediately to the buyer
In order to be in compliance with the Statute of Frauds, a sales contract must -
ANSWER-be in writing
The owner of an apartment building has just signed a managment agreement with a real
estate firm. In this situation, has an agency been formed? - ANSWER-Yes, an agency is
formed when one party delegates to another the right to act on their behalf.
A property was for sale for $129,000. An offer was made for $123,000. The seller
counteroffered at $127,000. Would this offer be binding? - ANSWER-No offer is binding
until both parties are in agreement.
What best describes a fixture? - ANSWER-it was personal property at one time
, A 16 year old bought a piece of property. Seller found out and wanted to void the deal.
Could he do this? - ANSWER-No, only the buyer could void the contract
X, a single person, and Y, a single person, want to take title to a property. They want
undivided interest. If one dies, the interst will be passed to the other. Which way of
taking title will best suit them? - ANSWER-Joint tenants with the right of survivorship
In the event of an EMD dispute, the broker should - ANSWER-contract sign a release or
release it to the courts
After listing a home with a broker, a seller told the broker NOT to disclose the major
structural damanges in the house. The broker should - ANSWER-tell the buyer of all
defects prior to writing the contract.
To create joint tenancy there must be the unity of - ANSWER-P - possession
I - interest
T - time
T - title
Seller had his home listed with a broker. During listing period, seller found his own
buyer and refused to pay broker commission. Broker sued the seller and won. What
type of listing was this? - ANSWER-Exclusive Right to Sell
A property manager normally is in charge of all of the following duties except -
ANSWER-repairing a tenant's fixture
In 1988, John Smith built a 3 story apt building. To comply with Federal Fair Housing -
ANSWER-Handicap tenants would need to have access to at least the first floor
Elective credits for continuing education could be granted for a course - ANSWER-that
is exclusively video-taped for classroom courses
