Real Estate Salesperson Practice Exam 1
Questions and Answers (Verified Answers)
with Rationales 2025
1. What is the primary purpose of a deed?
A. To record the sale of a property
B. To transfer ownership of real property
C. To finance real estate
D. To verify market value
Rationale: A deed is the legal instrument used to transfer title (ownership) from
one party to another in a real estate transaction.
2. Which of the following is considered personal property?
A. A built-in dishwasher
B. A garage
C. A freestanding refrigerator
D. A ceiling fan
Rationale: Personal property is movable and not attached to the land. A
freestanding refrigerator is not permanently affixed and can be removed.
,3. A fiduciary duty includes all of the following EXCEPT:
A. Loyalty
B. Obedience
C. Profit-sharing
D. Confidentiality
Rationale: Fiduciary duties do not include profit-sharing. Agents must act in the
client’s best interest, not share in their profits.
4. The right of survivorship is associated with which type of ownership?
A. Tenancy in common
B. Joint tenancy
C. Severalty
D. Fee simple
Rationale: In joint tenancy, if one owner dies, the surviving co-owners
automatically inherit the deceased’s interest.
5. What is the purpose of a comparative market analysis (CMA)?
A. To estimate a property’s market value
B. To determine property tax
C. To establish insurance premiums
D. To determine rent price
Rationale: A CMA is used by agents to estimate the likely selling price of a home
based on recent comparable sales.
, 6. What does the term "encumbrance" refer to in real estate?
A. A claim or liability attached to a property
B. A new construction on a property
C. A legal eviction
D. A change in zoning
Rationale: An encumbrance limits the use or reduces the value of a property,
such as a lien or easement.
7. Which type of listing provides the greatest protection for the broker?
A. Open listing
B. Exclusive right to sell
C. Net listing
D. Exclusive agency
Rationale: An exclusive right to sell ensures the broker earns commission
regardless of who sells the property.
8. Zoning laws are enforced through:
A. Police power
B. Eminent domain
C. Escheat
D. Taxation
Questions and Answers (Verified Answers)
with Rationales 2025
1. What is the primary purpose of a deed?
A. To record the sale of a property
B. To transfer ownership of real property
C. To finance real estate
D. To verify market value
Rationale: A deed is the legal instrument used to transfer title (ownership) from
one party to another in a real estate transaction.
2. Which of the following is considered personal property?
A. A built-in dishwasher
B. A garage
C. A freestanding refrigerator
D. A ceiling fan
Rationale: Personal property is movable and not attached to the land. A
freestanding refrigerator is not permanently affixed and can be removed.
,3. A fiduciary duty includes all of the following EXCEPT:
A. Loyalty
B. Obedience
C. Profit-sharing
D. Confidentiality
Rationale: Fiduciary duties do not include profit-sharing. Agents must act in the
client’s best interest, not share in their profits.
4. The right of survivorship is associated with which type of ownership?
A. Tenancy in common
B. Joint tenancy
C. Severalty
D. Fee simple
Rationale: In joint tenancy, if one owner dies, the surviving co-owners
automatically inherit the deceased’s interest.
5. What is the purpose of a comparative market analysis (CMA)?
A. To estimate a property’s market value
B. To determine property tax
C. To establish insurance premiums
D. To determine rent price
Rationale: A CMA is used by agents to estimate the likely selling price of a home
based on recent comparable sales.
, 6. What does the term "encumbrance" refer to in real estate?
A. A claim or liability attached to a property
B. A new construction on a property
C. A legal eviction
D. A change in zoning
Rationale: An encumbrance limits the use or reduces the value of a property,
such as a lien or easement.
7. Which type of listing provides the greatest protection for the broker?
A. Open listing
B. Exclusive right to sell
C. Net listing
D. Exclusive agency
Rationale: An exclusive right to sell ensures the broker earns commission
regardless of who sells the property.
8. Zoning laws are enforced through:
A. Police power
B. Eminent domain
C. Escheat
D. Taxation
