Page 1 of 59
ROCKWELL REAL ESTATE EXAM 1 WITH 250 QUESTIONS
AND CORRECT DETAILED SOLUTIONS JUST RELEASED THIS
YEAR
Question: To be entitled to sue for a commission, a person must be able to prove that at the
time the real estate activities were performed, she:
A. was licensed
B. had passed the real estate exam
C. had at least a verbal promise of compensation
D. was under the supervision of a mentor - CORRECT ANSWER✔✔A. was licensed
Question: Q falls behind on his child support payments. The matter is forwarded to the Director
of the Department of Licensing. What action is available to the Director? She can:
A. suspend Q's license
B. revoke Q's license
C. fine Q up to $5,000
D. issue a cease and desist order - CORRECT ANSWER✔✔A. suspend Q's license
Question: A legal action brought in court to compel a party to fulfill the terms of a contract
because the land is unique and money damages would not adequately compensate the party
victimized by a breach is called a/an:
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A. partition action
B. suit for specific performance
C. quiet title action
D. injunction - CORRECT ANSWER✔✔B. suit for specific performance
Question: A licensee locates what seems like a ready, willing, and able buyer. However, the deal
falls through at closing because the buyer can't obtain necessary financing. At the same time,
though, the seller turns out to be unable to provide marketable title. Does the seller still owe a
commission to the listing agent in this case?
A. No, because the sale didn't close
B. No, because there was no ready, willing, and able buyer
C. Yes, because the licensee saw the transaction through to the closing date
D. Yes, because the seller has an absolute duty to provide marketable title at closing - CORRECT
ANSWER✔✔B. No, because there was no ready, willing, and able buyer
Question: Buyer Bob and Seller Sam decide to wait until Sam's listing agreement with XYZ Real
Estate has expired, to avoid paying a commission. Does the listing agent have any legal
recourse?
A. Yes, the listing agent can pursue criminal charges
B. Yes, the listing agent can sue Bob under the listing agreement
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C. Yes, the listing agent can sue Sam under the listing agreement
D. No, the listing agent has no further recourse - CORRECT ANSWER✔✔D. No, the listing agent
has no further recourse
Question: Bronson agreed to sell his house to the Hatchers. Closing is scheduled for May 15.
Bronson already paid the taxes for the entire year, but the Hatchers are assuming responsibility
for the taxes as of the closing date. The settlement statement will prorate the taxes as a:
A. credit to the buyer, and debit to the seller
B. debit to the buyer, and credit to the seller
C. debit to the seller
D. credit to the buyer - CORRECT ANSWER✔✔B. debit to the buyer, and credit to the seller
Question: An appraiser needs to be state-certified to perform which of the following
appraisals?
A. Appraisal of a residence valued at $200,000
B. Appraisal of a residence valued at $500,000
C. Appraisal related to a loan that will be issued by a federally insured lender
D. Appraisal related to an FHA loan - CORRECT ANSWER✔✔D. Appraisal related to an FHA loan
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Question: Which of the following actions by a developer would require a zoning variance or a
rezone, because it would result in a more intensive use of the land?
A. Deed restriction prohibiting further subdivision of individual lots
B. Deed restriction prohibiting painting houses non-earth-tone colors
C. Fewer outbuildings placed on each lot than allowed by law
D. Increase in number of lots per acre - CORRECT ANSWER✔✔D. Increase in number of lots per
acre
Question: On a settlement statement, an earnest money deposit that will be held by the
brokerage firm until closing is a:
A. credit to the buyer
B. credit to the seller
C. debit (charge) to the buyer
D. debit (charge) to the seller - CORRECT ANSWER✔✔A. credit to the buyer
Question: A licensee would not be disciplined for:
A. accepting compensation from both parties to a transaction without a written disclosure
B. failing to adequately supervise an employee who misrepresents a property to a prospect
C. failing to include the firm's name, as licensed, in an advertisement
4
SUCCESS!
ROCKWELL REAL ESTATE EXAM 1 WITH 250 QUESTIONS
AND CORRECT DETAILED SOLUTIONS JUST RELEASED THIS
YEAR
Question: To be entitled to sue for a commission, a person must be able to prove that at the
time the real estate activities were performed, she:
A. was licensed
B. had passed the real estate exam
C. had at least a verbal promise of compensation
D. was under the supervision of a mentor - CORRECT ANSWER✔✔A. was licensed
Question: Q falls behind on his child support payments. The matter is forwarded to the Director
of the Department of Licensing. What action is available to the Director? She can:
A. suspend Q's license
B. revoke Q's license
C. fine Q up to $5,000
D. issue a cease and desist order - CORRECT ANSWER✔✔A. suspend Q's license
Question: A legal action brought in court to compel a party to fulfill the terms of a contract
because the land is unique and money damages would not adequately compensate the party
victimized by a breach is called a/an:
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A. partition action
B. suit for specific performance
C. quiet title action
D. injunction - CORRECT ANSWER✔✔B. suit for specific performance
Question: A licensee locates what seems like a ready, willing, and able buyer. However, the deal
falls through at closing because the buyer can't obtain necessary financing. At the same time,
though, the seller turns out to be unable to provide marketable title. Does the seller still owe a
commission to the listing agent in this case?
A. No, because the sale didn't close
B. No, because there was no ready, willing, and able buyer
C. Yes, because the licensee saw the transaction through to the closing date
D. Yes, because the seller has an absolute duty to provide marketable title at closing - CORRECT
ANSWER✔✔B. No, because there was no ready, willing, and able buyer
Question: Buyer Bob and Seller Sam decide to wait until Sam's listing agreement with XYZ Real
Estate has expired, to avoid paying a commission. Does the listing agent have any legal
recourse?
A. Yes, the listing agent can pursue criminal charges
B. Yes, the listing agent can sue Bob under the listing agreement
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C. Yes, the listing agent can sue Sam under the listing agreement
D. No, the listing agent has no further recourse - CORRECT ANSWER✔✔D. No, the listing agent
has no further recourse
Question: Bronson agreed to sell his house to the Hatchers. Closing is scheduled for May 15.
Bronson already paid the taxes for the entire year, but the Hatchers are assuming responsibility
for the taxes as of the closing date. The settlement statement will prorate the taxes as a:
A. credit to the buyer, and debit to the seller
B. debit to the buyer, and credit to the seller
C. debit to the seller
D. credit to the buyer - CORRECT ANSWER✔✔B. debit to the buyer, and credit to the seller
Question: An appraiser needs to be state-certified to perform which of the following
appraisals?
A. Appraisal of a residence valued at $200,000
B. Appraisal of a residence valued at $500,000
C. Appraisal related to a loan that will be issued by a federally insured lender
D. Appraisal related to an FHA loan - CORRECT ANSWER✔✔D. Appraisal related to an FHA loan
3
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Question: Which of the following actions by a developer would require a zoning variance or a
rezone, because it would result in a more intensive use of the land?
A. Deed restriction prohibiting further subdivision of individual lots
B. Deed restriction prohibiting painting houses non-earth-tone colors
C. Fewer outbuildings placed on each lot than allowed by law
D. Increase in number of lots per acre - CORRECT ANSWER✔✔D. Increase in number of lots per
acre
Question: On a settlement statement, an earnest money deposit that will be held by the
brokerage firm until closing is a:
A. credit to the buyer
B. credit to the seller
C. debit (charge) to the buyer
D. debit (charge) to the seller - CORRECT ANSWER✔✔A. credit to the buyer
Question: A licensee would not be disciplined for:
A. accepting compensation from both parties to a transaction without a written disclosure
B. failing to adequately supervise an employee who misrepresents a property to a prospect
C. failing to include the firm's name, as licensed, in an advertisement
4
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