REAL ESTATE FUNDAMENTALS NEWEST ACTUAL COMPLETE
230 REAL EXAM QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED
A+(2025/2026)
A buyer asks if a property has radon gas in the basement. The
agent says there is none when he knows there is a radon
problem. This is an example of – ANSWER-negligent
misrepresentation since this is an intentional nondisclosure of a
material fact.
A(n) _______ is the third party with whom the agent deals when
working on behalf of the principal. - ANSWER-customer
What is the major difference between a VA Loan and a FHA Loan?
– ANSWER-FHA insures repayment of the loan; VA guarantees
repayment of the loan.
What is the minimum period of time a licensee who has had his or
her license revoked must wait before reapplying for licensure? -
ANSWER-5 years
An instrument that records the history of the property is called -
ANSWER-The Abstract of Title
, Which of the following is an item that is normally prorated at
closing? – ANSWER-taxes
Who owns the land under a navigable river? - ANSWER-state
Constructive notice of ownership of a parcel of real estate is
primarily demonstrated through - ANSWER-title records
Bert just purchased his first property. To what level(s) of
government will Bert have to pay real estate taxes? - ANSWER-
county and local
Bill's monthly mortgage payments were $1,300. However, Bill's
final payment was $72,000. What type of mortgage did Bill have? -
ANSWER-a straight term loan
A will takes effect only after the testator's death. It is a(n)
_________, meaning that it can be changed at any time during the
maker's lifetime. - ANSWER-amendatory instrument
__________ and _________ determine a building's potential for
generating income. - ANSWER-Ability to attract tenants, operating
expenses
230 REAL EXAM QUESTIONS AND CORRECT DETAILED
ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED
A+(2025/2026)
A buyer asks if a property has radon gas in the basement. The
agent says there is none when he knows there is a radon
problem. This is an example of – ANSWER-negligent
misrepresentation since this is an intentional nondisclosure of a
material fact.
A(n) _______ is the third party with whom the agent deals when
working on behalf of the principal. - ANSWER-customer
What is the major difference between a VA Loan and a FHA Loan?
– ANSWER-FHA insures repayment of the loan; VA guarantees
repayment of the loan.
What is the minimum period of time a licensee who has had his or
her license revoked must wait before reapplying for licensure? -
ANSWER-5 years
An instrument that records the history of the property is called -
ANSWER-The Abstract of Title
, Which of the following is an item that is normally prorated at
closing? – ANSWER-taxes
Who owns the land under a navigable river? - ANSWER-state
Constructive notice of ownership of a parcel of real estate is
primarily demonstrated through - ANSWER-title records
Bert just purchased his first property. To what level(s) of
government will Bert have to pay real estate taxes? - ANSWER-
county and local
Bill's monthly mortgage payments were $1,300. However, Bill's
final payment was $72,000. What type of mortgage did Bill have? -
ANSWER-a straight term loan
A will takes effect only after the testator's death. It is a(n)
_________, meaning that it can be changed at any time during the
maker's lifetime. - ANSWER-amendatory instrument
__________ and _________ determine a building's potential for
generating income. - ANSWER-Ability to attract tenants, operating
expenses
