THE National Real Estate Exam Practice Test Newest 2025/2026 Complete All
Questions And Correct Detailed Answers (Verified Answers) |Already Graded
A+||Brand New Version!!
In most cases, broker compensation, as a percentage of home price,
falls somewhere between: - ANSWER-5-7%
A Christian organization owns a fourplex. It wants to rent to only
Christian tenants. Under the federal Fair Housing Act, is this legal? -
ANSWER-Yes. Religious organizations which rent to tenants for
residential purposes are exempt from the Fair Housing Act
What happens to trade fixtures after a business moves out of a leased
property? - ANSWER-The tenant removes their trade fixtures and takes
them upon moving out.
Suppose that a borrower has a gross monthly income of $3,000 and
wants to qualify for a conforming loan (total debt service ratio of 36%)
with a monthly PITI payment of $800. What is the maximum amount of
additional long-term obligations this borrower may have after PITI? -
CORRECT
ANSWER-$280
,A square bedroom measures 10 feet by 10 feet. What is the area of the
room? - ANSWER-100 square feet
Which of these is an economic characteristic that makes land a
distinctive commodity?* - ANSWER-situs
In a fixed-rate mortgage that is fully amortized, the total amount of
interest to be paid is: - ANSWERpredetermined
Which is exempt from the federal Fair Housing Act? - CORRECT
ANSWER-renting a room in a house occupied by the owner
The Americans with Disabilities Act applies to: - ANSWER-privately
owned or government-owned public accommodations
Condemnation is the act of seizing private property from citizens.
What gives the government the right to do this? -
ANSWER-eminent domain
The PHYSICAL characteristics of land are that land is indestructible,
non-homogenous, and: - ANSWERimmobile
Which statement BEST defines the term contingency? -
, ANSWER-stipulation that must be satisfied before the contract can be
performed
If a borrower is behind on payments, the acceleration clause gives the
lender the ability to: - ANSWER-call the entire loan balance due
immediately
A metes and bounds legal description always returns to: -
ANSWER-the point of beginning
What should a license holder do if a client instructs them to do
something that would discriminate against a protected class? -
ANSWER-advise the client they cannot legally discriminate against
certain groups
What is a novation? - ANSWER-the substitution of one contract for
another
A married couple bought a home ten years ago for $400,000. Their
neighborhood has rapidly grown in popularity, and they were able to
sell their home this year for $950,000. How much of that money will
they be required to pay capital gains tax on? - ANSWER-$50,000
Questions And Correct Detailed Answers (Verified Answers) |Already Graded
A+||Brand New Version!!
In most cases, broker compensation, as a percentage of home price,
falls somewhere between: - ANSWER-5-7%
A Christian organization owns a fourplex. It wants to rent to only
Christian tenants. Under the federal Fair Housing Act, is this legal? -
ANSWER-Yes. Religious organizations which rent to tenants for
residential purposes are exempt from the Fair Housing Act
What happens to trade fixtures after a business moves out of a leased
property? - ANSWER-The tenant removes their trade fixtures and takes
them upon moving out.
Suppose that a borrower has a gross monthly income of $3,000 and
wants to qualify for a conforming loan (total debt service ratio of 36%)
with a monthly PITI payment of $800. What is the maximum amount of
additional long-term obligations this borrower may have after PITI? -
CORRECT
ANSWER-$280
,A square bedroom measures 10 feet by 10 feet. What is the area of the
room? - ANSWER-100 square feet
Which of these is an economic characteristic that makes land a
distinctive commodity?* - ANSWER-situs
In a fixed-rate mortgage that is fully amortized, the total amount of
interest to be paid is: - ANSWERpredetermined
Which is exempt from the federal Fair Housing Act? - CORRECT
ANSWER-renting a room in a house occupied by the owner
The Americans with Disabilities Act applies to: - ANSWER-privately
owned or government-owned public accommodations
Condemnation is the act of seizing private property from citizens.
What gives the government the right to do this? -
ANSWER-eminent domain
The PHYSICAL characteristics of land are that land is indestructible,
non-homogenous, and: - ANSWERimmobile
Which statement BEST defines the term contingency? -
, ANSWER-stipulation that must be satisfied before the contract can be
performed
If a borrower is behind on payments, the acceleration clause gives the
lender the ability to: - ANSWER-call the entire loan balance due
immediately
A metes and bounds legal description always returns to: -
ANSWER-the point of beginning
What should a license holder do if a client instructs them to do
something that would discriminate against a protected class? -
ANSWER-advise the client they cannot legally discriminate against
certain groups
What is a novation? - ANSWER-the substitution of one contract for
another
A married couple bought a home ten years ago for $400,000. Their
neighborhood has rapidly grown in popularity, and they were able to
sell their home this year for $950,000. How much of that money will
they be required to pay capital gains tax on? - ANSWER-$50,000
