OHIO REAL ESTATE EXAM PRACTICE QUESTIONS AND 100% CORRECT ANSWERS|LATEST 2025/2026|GRADED A+

OHIO REAL ESTATE EXAM PRACTICE



May a consumer who has been harmed by a licensee acting under her license as a real estate s
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alesperson or broker immediately file a claim for payment from the Real Estate Recovery Fund
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?- B



BANSWER CORRECT ANSWER: No, the consumer must file a lawsuit, get a final judgment B B B B B B B B B B B B



, and attempt to collect
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A listing agreement in which the agent may possibly be in competition with the client to see w
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ho can sell the house first is an exclusive - ANSWER
B B B B B B B B B B CORRECT ANSWER: agency B B




According to the Statute of Frauds, what does NOT have to be in writing? -
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B ANSWER CORRECT ANSWER: listing agreement B B B




If a third party maintains a website for a licensee, places information on the website on behalf
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of the licensee, and that information becomes outdated or expired, how soon must it be upda
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ted or removed? - B B B



ANSWER
B CORRECT ANSWER: Outdated and expired information must be updated or re B B B B B B B B B B



moved within two weeks B B B




After issuing a bad check, the Division requires the licensee to send certified funds for all subs
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equent payments for a period of - ANSWERB B B B B B B CORRECT ANSWER: 5 years B B B




How much will a licensee be fined for paying fees to the state with a bad check? -
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B ANSWER CORRECT ANSWER: $100 B B




Once a salesperson is affiliated with a broker, what are the steps to be taken to associate with
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another broker? - B B



ANSWER
B CORRECT ANSWER: the salesperson must submit an application to the Superi
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ntendent



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Wicky

,What statement regarding condominium ownership is correct? -
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B ANSWER CORRECT ANSWER: A unit owner may devise the property
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Julie is the new owner of a house and decides to remove the carpet. After doing so, she discov
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ers there is significant pet damage to the hardwood floor beneath the carpet. Julie cuts most o
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f the center of the floor out and replaces it with subfloor. Julie then places a Persian rug over t
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he subfloor. When Julie sells, can she remove the Persian rug? -
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BANSWER CORRECT ANSWER: No, anything that covers subflooring becomes real proper
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ty



How would a developer/builder typically finance a development? -
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B ANSWER CORRECT ANSWER: blanket B B




For a conventional loan, how much of a borrower's income can be used to service debt? -
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B ANSWER CORRECT ANSWER: 36% B B




What document uses legal title to real property to secure debt? -
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B ANSWER CORRECT ANSWER: mortgage B B




According to the Lead- B B B



Based Paint Hazard Reduction Act, what can happen to a licensee if she fails to give a buyer th
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e lead-based paint pamphlet and disclosures? - ANSWER
B B B B B B B CORRECT ANSWER: B




- $10,000 fine
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- 3 times compensatory damages in lawsuit
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- punishment
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The non-breaching party to a contract has a duty by law to -
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B ANSWER CORRECT ANSWER: mitigate damages B B B




What would be considered evidence of the agency relationship between broker and buyer? -
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B ANSWER CORRECT ANSWER: buyer-broker contract
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2
Wicky

, Harvey enters into a lease where he must pay 30 percent of the landlord's expenses. Which ty
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pe of lease did Harvey sign? - ANSWER
B B B B B B B CORRECT ANSWER: net lease B B B




Which statement regarding RESPA is TRUE? -
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ANSWER
B RESPA eliminates kickbacks and other referral fees, prohibits lenders from req B B B B B B B B B B



uiring excessive escrow account deposits, and provides accurate and timely information about
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the actual cost of buying or selling a home.
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A wealthy business man whishes to change his last will and testament to exclude a relative wh
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o recently died. Which document will the testator use to make the change? -
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B ANSWER CORRECT ANSWER: codicil B B




RATIONALE

An addendum would signify a change in the terms of a contract. A certificate of transfer is the i
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nstrument used to convey title to a devise. A transfer on death deed transfers title of a decede
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nt's property upon death. A codicil is used to change a last will and testament.
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When a broker received an unexpected bill, he deposited a client's earnest money check into
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his personal account to cover the expense. This best describes -
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B ANSWER CORRECT ANSWER: conversion B B




A real estate agent has written an offer in which Luke, the buyer, asked the sellers to pay his ha
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lf of the escrow fee and his three points. The sellers accepted $135,000 for the home and Luke
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Bis going to put $40,000 down. How much will the Luke pay for his points? -
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B ANSWER CORRECT ANSWER: $0 B B




RATIONALE

Read carefully: The sellers, not the buyer, are paying the points. For the math practice, the for
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mula is: Loan Amount ($95,000) x number of points ($95,000 x 0.03) = Total Amount paid for p
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oints ($2,850). Remember, one point equals 1% or 0.01.
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Wicky