Page 1 of 23
BBK99E1 Practical Final Exam NEWEST
UPDA TE 2026-2027QUESTIONS AND
DETAILED SOLUTIONS
Question: Janice has given her broker an earnest money deposit check with written
instructions to hold the check until the seller has accepted her offer. Her broker follows
instructions and informs the seller, through a telephone conversation with the seller's agent
after the initial offer was presented, the buyer's check is being held awaiting offer acceptance.
Did Janice's broker handle this situation correctly?
No, the broker must inform the seller in writing the buyer's check is being held until acceptance
of the offer.
Yes, the broker informed the seller of the stipulation on the negotiation of the check until offer
acceptance.
No, the broker must inform the seller of the buyer's check being held at the exact time the
actual offer is presented.
Both A and C - CORRECT ANSWER✔✔D
Question: Katie and Rich own a rental home they have put up FSBO. They've noticed the same
woman has accompanied several potential buyers viewing the home. Katie and Rich discover
she is a broker that has been "showing" the home on the sly without their permission. Instead
of fighting this aggressive salesperson, the couple just go along. In which manner was agency
created?
Ostensible Agency
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Ratification
Implied Agency
Written or Expressed - CORRECT ANSWER✔✔A
Question: Which of the following statements referring to general taxes is true?
General taxes are Ad Valorem taxes.
General taxes are used for the general operation of the governmental agency authorized to
impose the taxes.
Real property tax (general taxes) are based on the assessed valuation of the property.
All of the Above - CORRECT ANSWER✔✔D
Question: Ross, a newly licensed residential real estate appraiser, is on his way to appraise his
very first piece of property. He is nervous on the way to the property and is going through the
appraisal process in his head. Please help Ross put the appraisal steps in order.
State the problem. Gather, record and verify the necessary data. Analyze and interpret.
Neighborhood analysis. Neighborhood cycle. Site analysis.
Gather, record and verify the necessary data. Analyze and interpret. State the problem.
Neighborhood analysis. Neighborhood cycle. Site analysis.
Gather, record and verify the necessary data. State the problem. Analyze and interpret.
Neighborhood analysis. Neighborhood cycle. Site analysis.
, Page 3 of 23
None of the Above. - CORRECT ANSWER✔✔A
Question: Marcus wants to have the deed to his new home recorded to protect his ownership
rights. In order to record the deed, it must be notarized. Marcus must go before a notary public
and verify the signing of the deed. The notary then signs the deed. The verification of Marcus'
signature in the signing of the deed is known as:
Autograph
Attestation
Recording
Caveat Emptor - CORRECT ANSWER✔✔B
Question: Timothy has been hired by the estate of Tyler Wilbanks, who is recently deceased.
Timothy has Power of Attorney and will be handling all the real estate affairs of the deceased
estate. Which type of agent is Timothy?
Special Agent
Single Agent
Universal Agent
Agency Coupled with Interest - CORRECT ANSWER✔✔C
Question: When is it permissible for a broker to possess an out-of-state trust account?
BBK99E1 Practical Final Exam NEWEST
UPDA TE 2026-2027QUESTIONS AND
DETAILED SOLUTIONS
Question: Janice has given her broker an earnest money deposit check with written
instructions to hold the check until the seller has accepted her offer. Her broker follows
instructions and informs the seller, through a telephone conversation with the seller's agent
after the initial offer was presented, the buyer's check is being held awaiting offer acceptance.
Did Janice's broker handle this situation correctly?
No, the broker must inform the seller in writing the buyer's check is being held until acceptance
of the offer.
Yes, the broker informed the seller of the stipulation on the negotiation of the check until offer
acceptance.
No, the broker must inform the seller of the buyer's check being held at the exact time the
actual offer is presented.
Both A and C - CORRECT ANSWER✔✔D
Question: Katie and Rich own a rental home they have put up FSBO. They've noticed the same
woman has accompanied several potential buyers viewing the home. Katie and Rich discover
she is a broker that has been "showing" the home on the sly without their permission. Instead
of fighting this aggressive salesperson, the couple just go along. In which manner was agency
created?
Ostensible Agency
, Page 2 of 23
Ratification
Implied Agency
Written or Expressed - CORRECT ANSWER✔✔A
Question: Which of the following statements referring to general taxes is true?
General taxes are Ad Valorem taxes.
General taxes are used for the general operation of the governmental agency authorized to
impose the taxes.
Real property tax (general taxes) are based on the assessed valuation of the property.
All of the Above - CORRECT ANSWER✔✔D
Question: Ross, a newly licensed residential real estate appraiser, is on his way to appraise his
very first piece of property. He is nervous on the way to the property and is going through the
appraisal process in his head. Please help Ross put the appraisal steps in order.
State the problem. Gather, record and verify the necessary data. Analyze and interpret.
Neighborhood analysis. Neighborhood cycle. Site analysis.
Gather, record and verify the necessary data. Analyze and interpret. State the problem.
Neighborhood analysis. Neighborhood cycle. Site analysis.
Gather, record and verify the necessary data. State the problem. Analyze and interpret.
Neighborhood analysis. Neighborhood cycle. Site analysis.
, Page 3 of 23
None of the Above. - CORRECT ANSWER✔✔A
Question: Marcus wants to have the deed to his new home recorded to protect his ownership
rights. In order to record the deed, it must be notarized. Marcus must go before a notary public
and verify the signing of the deed. The notary then signs the deed. The verification of Marcus'
signature in the signing of the deed is known as:
Autograph
Attestation
Recording
Caveat Emptor - CORRECT ANSWER✔✔B
Question: Timothy has been hired by the estate of Tyler Wilbanks, who is recently deceased.
Timothy has Power of Attorney and will be handling all the real estate affairs of the deceased
estate. Which type of agent is Timothy?
Special Agent
Single Agent
Universal Agent
Agency Coupled with Interest - CORRECT ANSWER✔✔C
Question: When is it permissible for a broker to possess an out-of-state trust account?
