VanEd National Real
Estate Exam with
complete solution
2026/2027
Question: A sublessee is a(n) - ANSWER-. Tenant
Question: A major disadvantage of owning investment property might be - ANSWER-
Lack of Liquidity
Question: The most favorable thing about a VA loan is that - ANSWER-VA loans
guarranty gives the veteran favorable financing terms because the lender is
protected from loss
Question: Once the funds of a construction loan are disbursed to the contractor, and
if the sub-contractor is not paid, - ANSWER-. The sub-contractor can file a lien against
the home, even if the home is sold, after it closes
,Question: Marie dies intestate, and her property will transfer according to intestate
succession. This means - ANSWER-. The courts will give the property based on state
law
Question: A seller cannot get marketable title due to a break in the chain of title. He
will need - ANSWER-
- ANSWER-. Quiet title Action
Question: Which is the term used for the person or organization who acts as an
intermediary for the purpose of obtaining financing? - ANSWER-Mortgage Broker
Question: Seller Andy had a custom table made to fit in a corner of his study,
attached to the floorboards on one end. When he sells his home the table will be
considered - ANSWER-A fixture
Question: The term lis pendent refers to - ANSWER-. Advance notice of a lawsuit to be
filed
Question: What kind of zoning would require that a developer build 10% of the
homes in a subdivision for low-income families? - ANSWER-Inclusionary
Question: Functional obsolescence can be caused by - ANSWER-. An over-
improvement of the property
Question: An owner may properly refuse to rent to a prospective tenant because the
prospective tenant is - ANSWER-A drug addict with abusive behavior
Question: 'A' purchased a commercial lot from 'B' based on 'B's fraudulent
representation as to lot size, zoning, and water connections. 'A' cannot use the parcel
purchased. What remedy should 'A' seek? - ANSWER-Recission
Question: An offer is accepted one day after the offer period expires. How could the
offeror create a valid contract? - ANSWER-Have the offeror sign a waiver of the offer
period
Question: A broker has an exclusive-right-to sell listing. A buyer offers to purchase
the listed property. The buyer knows that the broker is an agent of the seller, yet
, tells the agent in confidence that she may be willing to increase his offer by $10,000
if it is not accepted by the seller. The broker - ANSWER-
- ANSWER-. Must convey this information to the seller
Question: To perfect a lien against personal property, a creditor would record a(n) -
ANSWER-. Financing Statment
Question: A property manager needs to have a bid on floor coverings based on this
statement of fact. "The building he manages is 90' by 60'. Sixty percent of the
building will be carpeted at a cost of $16.00 per square yard, and the remainder will
be tiled at a cost of $8.00 per square yard. Estimate the cost of the floor covering. -
ANSWER-$7,680
Question: - ANSWER-
A FSBO seller and buyer agree to terms on a contract to purchase. The buyer then
finds a structural defect during his inspection, and cancels the contract. - ANSWER-
The FSBO seller makes cosmetic repairs to cover the damage, and lists the property
with Agent M and informs him of the defect. Buyer C buys the home, and does not
perform an inspection. Only after closing and moving into the home does buyer C
discover the material defect. Who is liable? Both FSBO and Agent M are liabe
Question: Which if the following is NOT considered an element of value? - ANSWER-
Cost
Question: A property has a net income of $40,000.00. One appraiser decides to use a
12 % capitalization rate, while a second appraiser uses a 10% rate. Use of the higher
rate results in - ANSWER-. $66,667 decrease in appraised value
Question: A broker is instructed not to show a property while the owner, who is
caucasian, is away. While the owner is out of town, an African American couple
requests to be shown the property. The broker should - ANSWER-. Refuse to show
the property
Question: An agency that cannot be terminated by an owner is a(n) - ANSWER-
Agency coupled with an interest
Question: A valid contract would be unenforceable because of - ANSWER-The statue
of limitations
Estate Exam with
complete solution
2026/2027
Question: A sublessee is a(n) - ANSWER-. Tenant
Question: A major disadvantage of owning investment property might be - ANSWER-
Lack of Liquidity
Question: The most favorable thing about a VA loan is that - ANSWER-VA loans
guarranty gives the veteran favorable financing terms because the lender is
protected from loss
Question: Once the funds of a construction loan are disbursed to the contractor, and
if the sub-contractor is not paid, - ANSWER-. The sub-contractor can file a lien against
the home, even if the home is sold, after it closes
,Question: Marie dies intestate, and her property will transfer according to intestate
succession. This means - ANSWER-. The courts will give the property based on state
law
Question: A seller cannot get marketable title due to a break in the chain of title. He
will need - ANSWER-
- ANSWER-. Quiet title Action
Question: Which is the term used for the person or organization who acts as an
intermediary for the purpose of obtaining financing? - ANSWER-Mortgage Broker
Question: Seller Andy had a custom table made to fit in a corner of his study,
attached to the floorboards on one end. When he sells his home the table will be
considered - ANSWER-A fixture
Question: The term lis pendent refers to - ANSWER-. Advance notice of a lawsuit to be
filed
Question: What kind of zoning would require that a developer build 10% of the
homes in a subdivision for low-income families? - ANSWER-Inclusionary
Question: Functional obsolescence can be caused by - ANSWER-. An over-
improvement of the property
Question: An owner may properly refuse to rent to a prospective tenant because the
prospective tenant is - ANSWER-A drug addict with abusive behavior
Question: 'A' purchased a commercial lot from 'B' based on 'B's fraudulent
representation as to lot size, zoning, and water connections. 'A' cannot use the parcel
purchased. What remedy should 'A' seek? - ANSWER-Recission
Question: An offer is accepted one day after the offer period expires. How could the
offeror create a valid contract? - ANSWER-Have the offeror sign a waiver of the offer
period
Question: A broker has an exclusive-right-to sell listing. A buyer offers to purchase
the listed property. The buyer knows that the broker is an agent of the seller, yet
, tells the agent in confidence that she may be willing to increase his offer by $10,000
if it is not accepted by the seller. The broker - ANSWER-
- ANSWER-. Must convey this information to the seller
Question: To perfect a lien against personal property, a creditor would record a(n) -
ANSWER-. Financing Statment
Question: A property manager needs to have a bid on floor coverings based on this
statement of fact. "The building he manages is 90' by 60'. Sixty percent of the
building will be carpeted at a cost of $16.00 per square yard, and the remainder will
be tiled at a cost of $8.00 per square yard. Estimate the cost of the floor covering. -
ANSWER-$7,680
Question: - ANSWER-
A FSBO seller and buyer agree to terms on a contract to purchase. The buyer then
finds a structural defect during his inspection, and cancels the contract. - ANSWER-
The FSBO seller makes cosmetic repairs to cover the damage, and lists the property
with Agent M and informs him of the defect. Buyer C buys the home, and does not
perform an inspection. Only after closing and moving into the home does buyer C
discover the material defect. Who is liable? Both FSBO and Agent M are liabe
Question: Which if the following is NOT considered an element of value? - ANSWER-
Cost
Question: A property has a net income of $40,000.00. One appraiser decides to use a
12 % capitalization rate, while a second appraiser uses a 10% rate. Use of the higher
rate results in - ANSWER-. $66,667 decrease in appraised value
Question: A broker is instructed not to show a property while the owner, who is
caucasian, is away. While the owner is out of town, an African American couple
requests to be shown the property. The broker should - ANSWER-. Refuse to show
the property
Question: An agency that cannot be terminated by an owner is a(n) - ANSWER-
Agency coupled with an interest
Question: A valid contract would be unenforceable because of - ANSWER-The statue
of limitations
