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Recent Exam 2026-2027 | Actual Comprehensive Real Exam
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The Department of Housing and Urban Development estimates that most
private homes built before 1978 contain potentially dangerous levels of
lead. Because of this, some Federal agencies, such as FHA,
ANSWERS: Require the buyer to acknowledge disclosure of the presence
of any known lead paint.
At the time of listing, the seller tells the listing agent they are moving
because the neighbor has loud parties every weekend. The agent
should
ANSWERS: tell potential buyers about the parties. (Any social information
expressed to an agent can be shared)
A major reason for buying and owning a condominium rather than a
detached single-family home is that
ANSWERS: a condominium tends to be more affordable.
,A buyer was negotiating the purchase of a house for himself. During a
conversation with the seller, the seller agreed to include all kitchen
appliances in the sale, and this fact was included in the sales contract. In
this situation, if the
seller takes the appliances with him, what recourse does the buyer have?
ANSWERS: The buyer may sue the seller for specific performance.
A loan which requires the borrower to pay interest only until the maturity
date (or due date), and then to pay the entire principal on the maturity
date, is called a
ANSWERS: straight (term) loan (AKA term loan)
The real estate contract for a specific property for use as an unlicensed
whiskey sales operation was forced to terminate. The termination was the
result of
ANSWERS: Impossibility of performance. - - (Key word: Unlicensed whiskey
sales operation).
A broker lists a property, with a listing contract allowing subagency and
dual agency. One of the broker's salespersons shows the property. The
salesperson would be classified as
ANSWERS: a subagent of the seller. — (Think - brokerage is the AGENCY,
salesperson is working under the agency)
,The relationship in which the agent is placed in the position of trust and
confidence to the principal is known by the term
ANSWERS: fiduciary
An agreement to purchase that has NOT yet closed is
ANSWERS: an executory contract.
When compiling a competitive market analysis, a broker would look for
comparable properties that
ANSWERS: were located near the property being listed.
The power vested in the government to establish legislation to
preserve order, protect the public health and safety, and promote the
general welfare is known as
ANSWERS: police power
If a borrower can afford to make monthly principal and interest payments
of
$1,000 and the lender will make a 30-year loan at 8-1/2%, how
large a loan (rounded to the nearest $100) can this buyer afford?
(BE SURE TO USE THE AMORTIZATION TABLE.)
ANSWERS: $130,000
, An Environmental Impact Statement (EIS)
ANSWERS: projects the impact on the environment of a proposed project.
In an exclusive right-to-sell listing, an owner lists the property for sale
with how many brokers?
ANSWERS: One
A prospective buyer made an offer to purchase a property. The owner
responded with a counteroffer. While the buyer was reviewing the
counteroffer, the owner received a better offer. The owner can
accept the second offer if
ANSWERS: the owner withdraws the counteroffer before it is accepted.
Antitrust laws prohibit competing brokers from all of the following EXCEPT
ANSWERS: receiving compensation from both the buyer and the seller.
Recent Exam 2026-2027 | Actual Comprehensive Real Exam
Questions With 100% Correct Answers | Verified Answers |
Already Graded A+ | Guaranteed Success!! | Newest Exam |
Just Released!!
The Department of Housing and Urban Development estimates that most
private homes built before 1978 contain potentially dangerous levels of
lead. Because of this, some Federal agencies, such as FHA,
ANSWERS: Require the buyer to acknowledge disclosure of the presence
of any known lead paint.
At the time of listing, the seller tells the listing agent they are moving
because the neighbor has loud parties every weekend. The agent
should
ANSWERS: tell potential buyers about the parties. (Any social information
expressed to an agent can be shared)
A major reason for buying and owning a condominium rather than a
detached single-family home is that
ANSWERS: a condominium tends to be more affordable.
,A buyer was negotiating the purchase of a house for himself. During a
conversation with the seller, the seller agreed to include all kitchen
appliances in the sale, and this fact was included in the sales contract. In
this situation, if the
seller takes the appliances with him, what recourse does the buyer have?
ANSWERS: The buyer may sue the seller for specific performance.
A loan which requires the borrower to pay interest only until the maturity
date (or due date), and then to pay the entire principal on the maturity
date, is called a
ANSWERS: straight (term) loan (AKA term loan)
The real estate contract for a specific property for use as an unlicensed
whiskey sales operation was forced to terminate. The termination was the
result of
ANSWERS: Impossibility of performance. - - (Key word: Unlicensed whiskey
sales operation).
A broker lists a property, with a listing contract allowing subagency and
dual agency. One of the broker's salespersons shows the property. The
salesperson would be classified as
ANSWERS: a subagent of the seller. — (Think - brokerage is the AGENCY,
salesperson is working under the agency)
,The relationship in which the agent is placed in the position of trust and
confidence to the principal is known by the term
ANSWERS: fiduciary
An agreement to purchase that has NOT yet closed is
ANSWERS: an executory contract.
When compiling a competitive market analysis, a broker would look for
comparable properties that
ANSWERS: were located near the property being listed.
The power vested in the government to establish legislation to
preserve order, protect the public health and safety, and promote the
general welfare is known as
ANSWERS: police power
If a borrower can afford to make monthly principal and interest payments
of
$1,000 and the lender will make a 30-year loan at 8-1/2%, how
large a loan (rounded to the nearest $100) can this buyer afford?
(BE SURE TO USE THE AMORTIZATION TABLE.)
ANSWERS: $130,000
, An Environmental Impact Statement (EIS)
ANSWERS: projects the impact on the environment of a proposed project.
In an exclusive right-to-sell listing, an owner lists the property for sale
with how many brokers?
ANSWERS: One
A prospective buyer made an offer to purchase a property. The owner
responded with a counteroffer. While the buyer was reviewing the
counteroffer, the owner received a better offer. The owner can
accept the second offer if
ANSWERS: the owner withdraws the counteroffer before it is accepted.
Antitrust laws prohibit competing brokers from all of the following EXCEPT
ANSWERS: receiving compensation from both the buyer and the seller.
