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SUPERIOR SCHOOL OF REAL ESTATE FINAL ACTUAL EXAM
QUESTIONS WITH COMPLETE SOLUTION GUIDE (A+ GRADED
100% VERIFIED) LATEST VERSION 2026!!
Which of the following would create legally binding acceptance of a
written offer? ......ANSWER......The seller's agent emails the buyer's
agent that the seller signed the offer as written.
A broker is preparing a comparative market analysis (CMA) for a subject
property with 3200 square feet. A comparable property has 2750
square feet. The estimated value of 450 additional square feet is
$22,500. The broker should... ......ANSWER......Add $22,500 to the sales
price of the comparable property.
An option to purchase has been created for a one hundred acre parcel
of farmland. During the one-year option period, the option he has the
right to... ......ANSWER......Execute the option to purchase on the terms
in the option agreement.
A buyer is under contract to purchase a home for $370,000 and has
qualified for an 80% loan-to-value mortgage loan at an annual interest
rate of 45%. How much will the buyer owe for the 1% loan origination
fee and 1 1/2 discount points associated with this loan package?
......ANSWER......$7,400
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The buyer and the seller in a failed transaction cannot agree on how to
disburse the earnest money deposit being held in the listing firm's trust
account. The listing firm must retain the records of this transaction for 3
years after the... ......ANSWER......Date the earnest money is disbursed.
Which of the following is an example of personal property that could
typically be removed by the seller of a residential property?
......ANSWER......A tree house constructed in a tree on the property that
can be removed without damage to the tree.
Which of the following properties would be the best comparable for an
appraiser to use for an appraisal of a two-story subject property with 3
bedrooms and 2 baths in a subdivision near the downtown area of a
city? ......ANSWER......3 bedrooms, 2 baths two-story house in a nearby
similar subdivision.
Which of the following is a legal property management practice under
the Federal Fair Housing Act as amended in 1998?
......ANSWER......Requiring a credit report and a criminal background
check for all applicants.
How and when must a broker notify an unrepresented buyer that the
broker represents the seller? ......ANSWER......In writing, before
obtaining any personal information from the buyer.
Excise tax on real property in North Carolina is...
......ANSWER......$1per$500
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Which of the following scenarios best illustrates first substantial
contact? ......ANSWER......Seller states that she must relocate by the end
of the year.
Liens, restrictive covenants, easements, and encroachments are all
examples of... ......ANSWER......Encumbrances.
A detached workshop extends over the property line onto the
neighboring lot by six inches. This legally constitutes as a (an)...
......ANSWER......Encroachment.
A North Carolina broker is required to deliver all executed contracts to
his/her clients no later than... ......ANSWER......Three days after receipt
by the broker.
A buyer who is Muslim instructs the broker to show the buyer
properties that are located in neighborhoods that have a higher number
of Muslim residents. If the broker complies with this client's instructions
the broker will be in... ......ANSWER......Compliance with the Civil Rights
Act of 1866, but in violation of the Federal Fair Housing Act.
Which of the following statements regarding the TILA-RESPA Integrated
Disclosure (TRID) requirements is true? ......ANSWER......Within three
days of receiving a loan application, the lender must provide the
applicant with a loan estimate.
SUPERIOR SCHOOL OF REAL ESTATE FINAL ACTUAL EXAM
QUESTIONS WITH COMPLETE SOLUTION GUIDE (A+ GRADED
100% VERIFIED) LATEST VERSION 2026!!
Which of the following would create legally binding acceptance of a
written offer? ......ANSWER......The seller's agent emails the buyer's
agent that the seller signed the offer as written.
A broker is preparing a comparative market analysis (CMA) for a subject
property with 3200 square feet. A comparable property has 2750
square feet. The estimated value of 450 additional square feet is
$22,500. The broker should... ......ANSWER......Add $22,500 to the sales
price of the comparable property.
An option to purchase has been created for a one hundred acre parcel
of farmland. During the one-year option period, the option he has the
right to... ......ANSWER......Execute the option to purchase on the terms
in the option agreement.
A buyer is under contract to purchase a home for $370,000 and has
qualified for an 80% loan-to-value mortgage loan at an annual interest
rate of 45%. How much will the buyer owe for the 1% loan origination
fee and 1 1/2 discount points associated with this loan package?
......ANSWER......$7,400
,2|Page
The buyer and the seller in a failed transaction cannot agree on how to
disburse the earnest money deposit being held in the listing firm's trust
account. The listing firm must retain the records of this transaction for 3
years after the... ......ANSWER......Date the earnest money is disbursed.
Which of the following is an example of personal property that could
typically be removed by the seller of a residential property?
......ANSWER......A tree house constructed in a tree on the property that
can be removed without damage to the tree.
Which of the following properties would be the best comparable for an
appraiser to use for an appraisal of a two-story subject property with 3
bedrooms and 2 baths in a subdivision near the downtown area of a
city? ......ANSWER......3 bedrooms, 2 baths two-story house in a nearby
similar subdivision.
Which of the following is a legal property management practice under
the Federal Fair Housing Act as amended in 1998?
......ANSWER......Requiring a credit report and a criminal background
check for all applicants.
How and when must a broker notify an unrepresented buyer that the
broker represents the seller? ......ANSWER......In writing, before
obtaining any personal information from the buyer.
Excise tax on real property in North Carolina is...
......ANSWER......$1per$500
, 3|Page
Which of the following scenarios best illustrates first substantial
contact? ......ANSWER......Seller states that she must relocate by the end
of the year.
Liens, restrictive covenants, easements, and encroachments are all
examples of... ......ANSWER......Encumbrances.
A detached workshop extends over the property line onto the
neighboring lot by six inches. This legally constitutes as a (an)...
......ANSWER......Encroachment.
A North Carolina broker is required to deliver all executed contracts to
his/her clients no later than... ......ANSWER......Three days after receipt
by the broker.
A buyer who is Muslim instructs the broker to show the buyer
properties that are located in neighborhoods that have a higher number
of Muslim residents. If the broker complies with this client's instructions
the broker will be in... ......ANSWER......Compliance with the Civil Rights
Act of 1866, but in violation of the Federal Fair Housing Act.
Which of the following statements regarding the TILA-RESPA Integrated
Disclosure (TRID) requirements is true? ......ANSWER......Within three
days of receiving a loan application, the lender must provide the
applicant with a loan estimate.
