Arkansas
Department of Real Estate -
Salesperson
LATEST EXAM GUIDE
Q&S
© 2024/2025
,1. When considering land use controls and regulations, which of
the following is not typically a power held by local governments?
A) Zoning
B) Eminent domain
C) Environmental restrictions
D) Interest rate setting
Correct Answer: D
2. In the context of fiduciary duties, which duty requires the agent
to put the client's interests above their own?
A) Duty of care
B) Duty of loyalty
C) Duty of disclosure
D) Duty of obedience
Correct Answer: B
3. Which appraisal method estimates the value of a property by
comparing it to similar properties with known sale prices?
A) Cost approach
B) Income approach
© 2024/2025
, C) Sales comparison approach
D) Investment method
Correct Answer: C
4. What type of financing involves a new mortgage that includes
both the unpaid principal balance of the first mortgage and
additional amounts?
A) Package mortgage
B) Blanket mortgage
C) Wraparound mortgage
D) Open-end mortgage
Correct Answer: C
5. The legal act of transferring property from one party to another
is called:
A) Conveyance
B) Assignment
C) Encumbrance
D) Alienation
Correct Answer: A
© 2024/2025
Department of Real Estate -
Salesperson
LATEST EXAM GUIDE
Q&S
© 2024/2025
,1. When considering land use controls and regulations, which of
the following is not typically a power held by local governments?
A) Zoning
B) Eminent domain
C) Environmental restrictions
D) Interest rate setting
Correct Answer: D
2. In the context of fiduciary duties, which duty requires the agent
to put the client's interests above their own?
A) Duty of care
B) Duty of loyalty
C) Duty of disclosure
D) Duty of obedience
Correct Answer: B
3. Which appraisal method estimates the value of a property by
comparing it to similar properties with known sale prices?
A) Cost approach
B) Income approach
© 2024/2025
, C) Sales comparison approach
D) Investment method
Correct Answer: C
4. What type of financing involves a new mortgage that includes
both the unpaid principal balance of the first mortgage and
additional amounts?
A) Package mortgage
B) Blanket mortgage
C) Wraparound mortgage
D) Open-end mortgage
Correct Answer: C
5. The legal act of transferring property from one party to another
is called:
A) Conveyance
B) Assignment
C) Encumbrance
D) Alienation
Correct Answer: A
© 2024/2025
