CERTIFIED RESIDENTIAL SPECIALIST
(CRS) EXAMINATION QUESTION AND
CORRECT ANSWERS (VERIFIED
ANSWERS) PLUS RATIONALES 2026 Q&A
INSTANT DOWNLOAD PDF
1. What is the primary purpose of comparative market analysis (CMA)?
A. To determine property tax rates
B. To estimate a home’s market value
C. To set mortgage interest rates
D. To evaluate a home inspection
Rationale: A CMA helps brokers estimate a property’s value based on
similar recently sold properties.
2. Which of the following is a legally enforceable promise in a contract?
A. Invitation to negotiate
B. Offer to show property
C. Contractual obligation
D. Pre-qualification letter
Rationale: Only contractual obligations are binding promises enforceable
by law.
3. What does “fiduciary duty” require of a real estate agent?
A. Market a home aggressively
B. Act in the client’s best interest
C. Offer lowest commission
D. Provide free services
Rationale: Fiduciary duty means loyalty, obedience, and acting for the
client’s benefit.
,4. A seller accepts an offer subject to the buyer obtaining financing. This is
known as:
A. Contingency letter
B. Financing contingency
C. Equalization clause
D. Dual agency
Rationale: A financing contingency makes the contract dependent on loan
approval.
5. What is “time is of the essence” in a contract?
A. Deadlines are flexible
B. Deadlines are strict and enforceable
C. Time is negotiable after signing
D. Transaction may continue indefinitely
Rationale: This phrase makes performance deadlines essential to the
contract.
6. Which form of ownership has right of survivorship?
A. Tenancy in common
B. Joint tenancy
C. Leasehold estate
D. Community lien ownership
Rationale: Joint tenancy allows remaining owners to inherit an interest
automatically.
7. The main role of a closing agent is to:
A. Determine listing price
B. Appraise the property
C. Facilitate transfer of ownership
D. Manage tenant relations
Rationale: The closing agent manages document signing and funds
distribution.
8. What is an “encumbrance”?
A. A tax refund
B. A claim against the property
C. A property improvement
, D. An appraisal discount
Rationale: An encumbrance limits property rights (e.g., lien, easement).
9. What does MLS stand for?
A. Multiple Legal Structures
B. Multiple Listing Service
C. Member Liaison Society
D. Mortgage Loan Standards
Rationale: MLS is a database of listed properties shared among brokers.
10.Federal Fair Housing Act prohibits discrimination based on:
A. Employment status
B. Race, color, religion, sex, handicap, familial status, national origin
C. Education level
D. Homeowner’s insurance
Rationale: These are protected classes under federal law.
11.Which document conveys title from seller to buyer?
A. Lease agreement
B. Deed
C. CMA
D. Listing agreement
Rationale: Only a deed legally transfers ownership.
12.What is an easement?
A. A mortgage
B. Property tax
C. Right to use another’s land
D. Homeowners insurance
Rationale: An easement grants use rights without ownership.
13.A broker must present all offers:
A. Only offers above asking price
B. Promptly to the seller
C. At the broker’s discretion
D. Only final offers
Rationale: Duty requires presenting all offers immediately.
(CRS) EXAMINATION QUESTION AND
CORRECT ANSWERS (VERIFIED
ANSWERS) PLUS RATIONALES 2026 Q&A
INSTANT DOWNLOAD PDF
1. What is the primary purpose of comparative market analysis (CMA)?
A. To determine property tax rates
B. To estimate a home’s market value
C. To set mortgage interest rates
D. To evaluate a home inspection
Rationale: A CMA helps brokers estimate a property’s value based on
similar recently sold properties.
2. Which of the following is a legally enforceable promise in a contract?
A. Invitation to negotiate
B. Offer to show property
C. Contractual obligation
D. Pre-qualification letter
Rationale: Only contractual obligations are binding promises enforceable
by law.
3. What does “fiduciary duty” require of a real estate agent?
A. Market a home aggressively
B. Act in the client’s best interest
C. Offer lowest commission
D. Provide free services
Rationale: Fiduciary duty means loyalty, obedience, and acting for the
client’s benefit.
,4. A seller accepts an offer subject to the buyer obtaining financing. This is
known as:
A. Contingency letter
B. Financing contingency
C. Equalization clause
D. Dual agency
Rationale: A financing contingency makes the contract dependent on loan
approval.
5. What is “time is of the essence” in a contract?
A. Deadlines are flexible
B. Deadlines are strict and enforceable
C. Time is negotiable after signing
D. Transaction may continue indefinitely
Rationale: This phrase makes performance deadlines essential to the
contract.
6. Which form of ownership has right of survivorship?
A. Tenancy in common
B. Joint tenancy
C. Leasehold estate
D. Community lien ownership
Rationale: Joint tenancy allows remaining owners to inherit an interest
automatically.
7. The main role of a closing agent is to:
A. Determine listing price
B. Appraise the property
C. Facilitate transfer of ownership
D. Manage tenant relations
Rationale: The closing agent manages document signing and funds
distribution.
8. What is an “encumbrance”?
A. A tax refund
B. A claim against the property
C. A property improvement
, D. An appraisal discount
Rationale: An encumbrance limits property rights (e.g., lien, easement).
9. What does MLS stand for?
A. Multiple Legal Structures
B. Multiple Listing Service
C. Member Liaison Society
D. Mortgage Loan Standards
Rationale: MLS is a database of listed properties shared among brokers.
10.Federal Fair Housing Act prohibits discrimination based on:
A. Employment status
B. Race, color, religion, sex, handicap, familial status, national origin
C. Education level
D. Homeowner’s insurance
Rationale: These are protected classes under federal law.
11.Which document conveys title from seller to buyer?
A. Lease agreement
B. Deed
C. CMA
D. Listing agreement
Rationale: Only a deed legally transfers ownership.
12.What is an easement?
A. A mortgage
B. Property tax
C. Right to use another’s land
D. Homeowners insurance
Rationale: An easement grants use rights without ownership.
13.A broker must present all offers:
A. Only offers above asking price
B. Promptly to the seller
C. At the broker’s discretion
D. Only final offers
Rationale: Duty requires presenting all offers immediately.
