National Real Estate Exam (Latest 2026/2027 Update) 160 Questions with Verified Answers | 100% Correct| Graded A+

National Real Estate Exam (Latest 2026/2027
Update) 160 Questions with Verified Answers |
100% Correct| Graded A+
Question:
What should a license holder do if a client instructs them to do something
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that would discriminate against a protected class??
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Answer:

advise the client they cannot legally discriminate against certain groups
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Question:

What is a novation?? i,- i,- i,-




Answer:

the substitution of one contract for another
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Question:

A married couple bought a home ten years ago for $400,000. Their
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neighborhood has rapidly grown in popularity, and they were able to sell
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their home this year for $950,000. How much of that money will they be
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required to pay capital gains tax on?? i,- i,- i,- i,- i,- i,-




Answer:

$50,000

,Question:

Which element of a valid contract states that the contract cannot require
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any illegal activities or outcomes??
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Answer:

lawful objective i,-




Question:

Deanna wants to sue her real estate agent, but finds out that she has no
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legal recourse because too many years have passed since the offending
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incident. What is this an example of??
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Answer:
statute of limitations i,- i,-




Question:

Pedro bought his house for $370,000. The assessed value is $290,000. If
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the tax rate for Pedro's county is 2.375%, what will he pay in ad valorem
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taxes this year??
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Answer:

$6,887.50

,Question:

A potentially valid contract in which at least one party has the option to
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rescind is described as:?
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Answer:
voidable




Question:

When you're talking about mortgages, what is another name for an
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origination fee?? i,-




Answer:
points




Question:
Both parties involved in an agency agreement agree to end the
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agreement early. What is this called??
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Answer:

mutual rescission i,-




Question:
What does a standard title insurance policy do?*?
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, Answer:
protects against any defects discovered in the title after closing
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Question:

In most cases, broker compensation, as a percentage of home price, falls
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somewhere between:? i,-




Answer:

5-7%




Question:
A Christian organization owns a fourplex. It wants to rent to only Christian
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tenants. Under the federal Fair Housing Act, is this legal??
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Answer:

Yes. Religious organizations which rent to tenants for residential purposes
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are exempt from the Fair Housing Act
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Question:

What happens to trade fixtures after a business moves out of a leased
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property??

Answer:
The tenant removes their trade fixtures and takes them upon moving out.
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