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Aceable Agent: Level 1 Exam
Questions and Answers
Five Catagories of Real Estate Properties - ✔✔(1) Residential, (2) Commercial, (3)
Industrial, (4) Farm & Land/ Agriculture (5) Special Purpose
Apartment Locator - ✔✔A real estate license holder who locates dwelling units for
prospective tenants
Tenant - ✔✔one who possesses (rents) real property for a period of time, usually under
a lease. The property or estate is normally owned by the landlord.
Broker - ✔✔Someone who assists in buying and selling to recieve a commission.
Client - ✔✔The person that an agent is representing, made official through a
representation document.
Sales Agent Apprentice Education (SAE) - ✔✔an educational requirement for courses in
the first two years of being licensed as a real estate agent.
Consumer - ✔✔A person or company that buys or leases any product or service.
Katelyn Whitman© 2025, All Rights Reserved.
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Education Standards Advisory Committee (ESAC) - ✔✔To review and revise
curriculum standards, course content and instructor certification requirements for both
qualifying and continuing education courses.
Committee Members - ✔✔12 members appointed by the commission.
*Seven members who are license holders.
*Four education members who are real estate instructors or owners of real estate
schools.
*One member who represents the public.
*Serve staggered two- year terms.
Real Estate Industry Services - ✔✔Brokerage, Appraisal, Property Managment,
Development, Counceling, Financial and Education.
Residential Real Estate - ✔✔Single Family Dwelling, Duplex, Triplex, and Fourplex.
Co-ops.
Commercial Real Estate - ✔✔Primarily made up of (Income Produced) property that is
used for business.
Katelyn Whitman© 2025, All Rights Reserved.
Aceable Agent: Level 1 Exam
Questions and Answers
Five Catagories of Real Estate Properties - ✔✔(1) Residential, (2) Commercial, (3)
Industrial, (4) Farm & Land/ Agriculture (5) Special Purpose
Apartment Locator - ✔✔A real estate license holder who locates dwelling units for
prospective tenants
Tenant - ✔✔one who possesses (rents) real property for a period of time, usually under
a lease. The property or estate is normally owned by the landlord.
Broker - ✔✔Someone who assists in buying and selling to recieve a commission.
Client - ✔✔The person that an agent is representing, made official through a
representation document.
Sales Agent Apprentice Education (SAE) - ✔✔an educational requirement for courses in
the first two years of being licensed as a real estate agent.
Consumer - ✔✔A person or company that buys or leases any product or service.
Katelyn Whitman© 2025, All Rights Reserved.
, 2|Page
Education Standards Advisory Committee (ESAC) - ✔✔To review and revise
curriculum standards, course content and instructor certification requirements for both
qualifying and continuing education courses.
Committee Members - ✔✔12 members appointed by the commission.
*Seven members who are license holders.
*Four education members who are real estate instructors or owners of real estate
schools.
*One member who represents the public.
*Serve staggered two- year terms.
Real Estate Industry Services - ✔✔Brokerage, Appraisal, Property Managment,
Development, Counceling, Financial and Education.
Residential Real Estate - ✔✔Single Family Dwelling, Duplex, Triplex, and Fourplex.
Co-ops.
Commercial Real Estate - ✔✔Primarily made up of (Income Produced) property that is
used for business.
Katelyn Whitman© 2025, All Rights Reserved.
