ACEABLE AGENT REAL ESTATE EXAM
2025/2026 QUESTIONS AND ANSWERS
100% PASS
The concept of escheat means that property - ANS reverts to the state when a person dies
without a will, an heir, or a creditor
What are ownership rights to all that is found beneath the surface of the tract of land owned,
extending downward to the center of the earth? - ANS subsurface rights
Jimmy is installing hardwood floors in his rectangular room. The dimensions of the room are 25
ft. by 10 ft. What is the area of this room in square yards? - ANS 27.78 square yards;
Remember that 1 square yard is equal to 9 sq.ft. So, 25ft x 10 ft = 250 sq.ft.; 250/ 9 = 27.77
square yards
What is the revenue a property could generate if 100% of the units in the building were leased
at market rate? - ANS potential gross income
The court case Brown vs. Board of Education overturned the "separate but equal" doctrine
established by: - ANS Plessy v. Ferguson
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
, Lea's property was created when a larger lot was cut into pieces. It is landlocked, and she has
an easement across a neighboring lot to reach the road. What kind of easement does she have?
- ANS Easement by necessity
Title X requires that sellers of properties built prior to: - ANS 1978 must make a disclosure of
hazards related to lead-based paint
How much does a buyer have to put down on a conventional loan to avoid paying PMI? -
ANS 20% of the sales price
Specific performance, rescission, and suit for damages are the three primary legal remedies for:
- ANS breach of contract
Nick took out a non-amortized loan of $100,000 at a 5.3% interest rate. How much will Nick pay
in interest over the course of 3 months? - ANS $1,325; To find the quarterly interest, first
find the annual interest, which is $100,000x 0.053= $5300. Divide that by 12 to get $441.667
monthly interest. Multiply by 3 to get $1,325 total in interest paid by Nick over the course of 3
months.
Fannie Mae and Freddie Mac: - ANS buy mortgages and package them to create MBSs
(Mortgage-backed securities
What is it called when a third-party is led to mistakenly believe that agency exists between a
principal and an agent when it does not? - ANS ostensible agency and agency by estoppel
Rafael manages a REIT that buys and manages regional malls. What type of REIT does he have?
- ANS an equity REIT ( Real Estate Investment Trust)
The fair housing act is enforced by - ANS HUD
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
2025/2026 QUESTIONS AND ANSWERS
100% PASS
The concept of escheat means that property - ANS reverts to the state when a person dies
without a will, an heir, or a creditor
What are ownership rights to all that is found beneath the surface of the tract of land owned,
extending downward to the center of the earth? - ANS subsurface rights
Jimmy is installing hardwood floors in his rectangular room. The dimensions of the room are 25
ft. by 10 ft. What is the area of this room in square yards? - ANS 27.78 square yards;
Remember that 1 square yard is equal to 9 sq.ft. So, 25ft x 10 ft = 250 sq.ft.; 250/ 9 = 27.77
square yards
What is the revenue a property could generate if 100% of the units in the building were leased
at market rate? - ANS potential gross income
The court case Brown vs. Board of Education overturned the "separate but equal" doctrine
established by: - ANS Plessy v. Ferguson
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
, Lea's property was created when a larger lot was cut into pieces. It is landlocked, and she has
an easement across a neighboring lot to reach the road. What kind of easement does she have?
- ANS Easement by necessity
Title X requires that sellers of properties built prior to: - ANS 1978 must make a disclosure of
hazards related to lead-based paint
How much does a buyer have to put down on a conventional loan to avoid paying PMI? -
ANS 20% of the sales price
Specific performance, rescission, and suit for damages are the three primary legal remedies for:
- ANS breach of contract
Nick took out a non-amortized loan of $100,000 at a 5.3% interest rate. How much will Nick pay
in interest over the course of 3 months? - ANS $1,325; To find the quarterly interest, first
find the annual interest, which is $100,000x 0.053= $5300. Divide that by 12 to get $441.667
monthly interest. Multiply by 3 to get $1,325 total in interest paid by Nick over the course of 3
months.
Fannie Mae and Freddie Mac: - ANS buy mortgages and package them to create MBSs
(Mortgage-backed securities
What is it called when a third-party is led to mistakenly believe that agency exists between a
principal and an agent when it does not? - ANS ostensible agency and agency by estoppel
Rafael manages a REIT that buys and manages regional malls. What type of REIT does he have?
- ANS an equity REIT ( Real Estate Investment Trust)
The fair housing act is enforced by - ANS HUD
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
