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Rockwell Real Estate Exam 1 Questions and Correct
Answers/ Latest Update / Already Graded
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
Ans: B. No, because there was no ready, willing, and able buyer
Buyer Bob and Seller Sam decide to kwait kuntil kSam's klisting kagreement kwith
kXYZ kReal kEstate khas kexpired, kto kavoid kpaying ka kcommission. kDoes kthe klisting
kagent khave kany klegal krecourse?
A. Yes, kthe klisting kagent kcan kpursue kcriminal kcharges
B. Yes, kthe klisting kagent kcan ksue kBob kunder kthe klisting kagreement
C. Yes, kthe klisting kagent kcan ksue kSam kunder kthe klisting kagreement
D. No, kthe klisting kagent khas kno kfurther krecourse
Ans: k D. kNo, kthe klisting kagent khas kno kfurther krecourse
© k2025/ k2026 k| k® kAll krights kreserved
, 2 k| kPage
Bronson kagreed kto ksell khis khouse kto kthe kHatchers. kClosing kis kscheduled kfor kMay
15. kBronson kalready kpaid kthe ktaxes kfor kthe kentire kyear, kbut kthe kHatchers kare
kassuming kresponsibility kfor kthe ktaxes kas kof kthe kclosing kdate. kThe ksettlement
kstatement kwill kprorate kthe ktaxes kas ka:
A. credit kto kthe kbuyer, kand kdebit kto kthe kseller
B. debit kto kthe kbuyer, kand kcredit kto kthe kseller
C. debit kto kthe kseller
D. credit kto kthe kbuyer
Ans: k B. kdebit kto kthe kbuyer, kand kcredit kto kthe kseller
To kbe kentitled kto ksue kfor ka kcommission, ka kperson kmust kbe kable kto kprove kthat
kat kthe ktime kthe kreal kestate kactivities kwere kperformed, kshe:
A. was klicensed
B. had kpassed kthe kreal k estate kexam
C. had kat kleast ka kverbal kpromise kof kcompensation
D. was kunder kthe ksupervision kof ka kmentor
Ans: k A. kwas klicensed
Q kfalls kbehind kon khis kchild ksupport kpayments. kThe kmatter kis kforwarded kto kthe
kDirector kof kthe kDepartment kof kLicensing. kWhat kaction kis kavailable kto kthe
kDirector? kShe kcan:
A. suspend kQ's klicense
© k2025/ k2026 k| k® kAll krights kreserved
, 3 k| kPage
B. revoke kQ's klicense
C. fine kQ kup kto k$5,000
D. issue ka kcease kand kdesist korder
Ans: k A. ksuspend kQ's klicense
A klegal kaction kbrought kin kcourt kto kcompel ka kparty kto kfulfill kthe kterms kof ka
kcontract kbecause kthe kland kis kunique kand kmoney kdamages kwould knot kadequately
kcompensate kthe kparty kvictimized kby ka kbreach kis kcalled ka/an:
A. partition k action
B. suit kfor kspecific kperformance
C. quiet ktitle kaction
D. injunction
Ans: k B. ksuit kfor kspecific kperformance
An kappraiser kneeds kto kbe kstate-certified kto kperform kwhich kof kthe kfollowing
kappraisals?
A. Appraisal kof ka kresidence kvalued kat k$200,000
B. Appraisal kof ka kresidence kvalued kat k$500,000
C. Appraisal krelated kto ka kloan kthat kwill kbe kissued kby ka kfederally kinsured klender
D. Appraisal krelated kto kan kFHA kloan
Ans: k D. kAppraisal krelated kto kan kFHA kloan
© k2025/ k2026 k| k® kAll krights kreserved
, 4 k| kPage
Which kof kthe kfollowing kactions kby ka kdeveloper kwould krequire ka kzoning
kvariance kor ka krezone, kbecause kit kwould kresult kin ka kmore kintensive kuse kof kthe
kland?
A. Deed krestriction kprohibiting kfurther ksubdivision kof kindividual klots
B. Deed krestriction kprohibiting kpainting khouses knon-earth-tone kcolors
C. Fewer koutbuildings kplaced kon keach klot kthan kallowed kby klaw
D. Increase kin knumber kof klots kper kacre
Ans: k D. kIncrease kin knumber kof klots kper kacre
On ka ksettlement kstatement, kan kearnest kmoney kdeposit kthat kwill kbe kheld kby kthe
kbrokerage kfirm kuntil kclosing kis ka:
A. credit kto kthe kbuyer
B. credit kto kthe kseller
C. debit k(charge) kto kthe kbuyer
D. debit k(charge) kto kthe kseller
Ans: k A. kcredit kto kthe kbuyer
A klicensee kwould knot kbe kdisciplined kfor:
A. accepting kcompensation kfrom kboth kparties kto ka ktransaction kwithout ka
kwritten kdisclosure
B. failing kto kadequately ksupervise kan kemployee kwho kmisrepresents ka kproperty
kto ka kprospect
© k2025/ k2026 k| k® kAll krights kreserved
Rockwell Real Estate Exam 1 Questions and Correct
Answers/ Latest Update / Already Graded
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
Ans: B. No, because there was no ready, willing, and able buyer
Buyer Bob and Seller Sam decide to kwait kuntil kSam's klisting kagreement kwith
kXYZ kReal kEstate khas kexpired, kto kavoid kpaying ka kcommission. kDoes kthe klisting
kagent khave kany klegal krecourse?
A. Yes, kthe klisting kagent kcan kpursue kcriminal kcharges
B. Yes, kthe klisting kagent kcan ksue kBob kunder kthe klisting kagreement
C. Yes, kthe klisting kagent kcan ksue kSam kunder kthe klisting kagreement
D. No, kthe klisting kagent khas kno kfurther krecourse
Ans: k D. kNo, kthe klisting kagent khas kno kfurther krecourse
© k2025/ k2026 k| k® kAll krights kreserved
, 2 k| kPage
Bronson kagreed kto ksell khis khouse kto kthe kHatchers. kClosing kis kscheduled kfor kMay
15. kBronson kalready kpaid kthe ktaxes kfor kthe kentire kyear, kbut kthe kHatchers kare
kassuming kresponsibility kfor kthe ktaxes kas kof kthe kclosing kdate. kThe ksettlement
kstatement kwill kprorate kthe ktaxes kas ka:
A. credit kto kthe kbuyer, kand kdebit kto kthe kseller
B. debit kto kthe kbuyer, kand kcredit kto kthe kseller
C. debit kto kthe kseller
D. credit kto kthe kbuyer
Ans: k B. kdebit kto kthe kbuyer, kand kcredit kto kthe kseller
To kbe kentitled kto ksue kfor ka kcommission, ka kperson kmust kbe kable kto kprove kthat
kat kthe ktime kthe kreal kestate kactivities kwere kperformed, kshe:
A. was klicensed
B. had kpassed kthe kreal k estate kexam
C. had kat kleast ka kverbal kpromise kof kcompensation
D. was kunder kthe ksupervision kof ka kmentor
Ans: k A. kwas klicensed
Q kfalls kbehind kon khis kchild ksupport kpayments. kThe kmatter kis kforwarded kto kthe
kDirector kof kthe kDepartment kof kLicensing. kWhat kaction kis kavailable kto kthe
kDirector? kShe kcan:
A. suspend kQ's klicense
© k2025/ k2026 k| k® kAll krights kreserved
, 3 k| kPage
B. revoke kQ's klicense
C. fine kQ kup kto k$5,000
D. issue ka kcease kand kdesist korder
Ans: k A. ksuspend kQ's klicense
A klegal kaction kbrought kin kcourt kto kcompel ka kparty kto kfulfill kthe kterms kof ka
kcontract kbecause kthe kland kis kunique kand kmoney kdamages kwould knot kadequately
kcompensate kthe kparty kvictimized kby ka kbreach kis kcalled ka/an:
A. partition k action
B. suit kfor kspecific kperformance
C. quiet ktitle kaction
D. injunction
Ans: k B. ksuit kfor kspecific kperformance
An kappraiser kneeds kto kbe kstate-certified kto kperform kwhich kof kthe kfollowing
kappraisals?
A. Appraisal kof ka kresidence kvalued kat k$200,000
B. Appraisal kof ka kresidence kvalued kat k$500,000
C. Appraisal krelated kto ka kloan kthat kwill kbe kissued kby ka kfederally kinsured klender
D. Appraisal krelated kto kan kFHA kloan
Ans: k D. kAppraisal krelated kto kan kFHA kloan
© k2025/ k2026 k| k® kAll krights kreserved
, 4 k| kPage
Which kof kthe kfollowing kactions kby ka kdeveloper kwould krequire ka kzoning
kvariance kor ka krezone, kbecause kit kwould kresult kin ka kmore kintensive kuse kof kthe
kland?
A. Deed krestriction kprohibiting kfurther ksubdivision kof kindividual klots
B. Deed krestriction kprohibiting kpainting khouses knon-earth-tone kcolors
C. Fewer koutbuildings kplaced kon keach klot kthan kallowed kby klaw
D. Increase kin knumber kof klots kper kacre
Ans: k D. kIncrease kin knumber kof klots kper kacre
On ka ksettlement kstatement, kan kearnest kmoney kdeposit kthat kwill kbe kheld kby kthe
kbrokerage kfirm kuntil kclosing kis ka:
A. credit kto kthe kbuyer
B. credit kto kthe kseller
C. debit k(charge) kto kthe kbuyer
D. debit k(charge) kto kthe kseller
Ans: k A. kcredit kto kthe kbuyer
A klicensee kwould knot kbe kdisciplined kfor:
A. accepting kcompensation kfrom kboth kparties kto ka ktransaction kwithout ka
kwritten kdisclosure
B. failing kto kadequately ksupervise kan kemployee kwho kmisrepresents ka kproperty
kto ka kprospect
© k2025/ k2026 k| k® kAll krights kreserved
