BBK99E1 PRACTICAL FINAL EXAM 2026 | ACTUAL
EXAM QUESTIONS AND CORRECT ANSWERS |
VERIFIED ANSWERS | UPDATED VERSION
Calvin is buying his first home. He has been saving and saving for years.
The home he is buying has a price of $300,000 and Calvin has a down
payment of $75,000. Calvin's loan is considered:
Highly Secured
Low Risk
Simple Interest
Highly Leveraged ---------CORRECT ANSWER-----------------B
Adeeb has listed his condo with Maria's broker and she is his listing
agent. The listing agreement is signed and the day to begin showing his
property is nearing. Adeeb decides the day before the open house to
raise his asking price by $20,000. Maria disagrees with the decision but
goes along with Adeeb's wishes. How must Maria take care of this
contractual change in price?
Maria must change the listing price on a price change or extension
form.
,Maria may make the change on the original contract due to the fact the
condo has not been professionally shown by licensees.
The listing price change does not need to be changed on the contract.
The price that will be paid for the condo does not have to be the listing
price; therefore, it is just a guide, not set in stone.
None of the Above. ---------CORRECT ANSWER-----------------A
Although 16-year-old Tameka's goal is to be a licensed real estate
salesperson in the State of California, she is currently living in Canada.
Her long-term goal is to be a successful salesperson, manager, and to
own a brokerage. She has been studying the Real Estate Principles
Course for next week's exam. However, if she passes, she cannot apply
for her 4 year salesperson's license. Why?
Tameka cannot apply for a 4-year salesperson because she has not
completed three
college-level real estate courses.
Tameka is only sixteen and a licensee must be eighteen years old.
Tameka cannot provide proof of legal presence in the United States.
,Both A and B ---------CORRECT ANSWER-----------------D
Anthony is adding a new deck to his home. He has obtained all the
necessary building permits to construct his new deck. Anthony's
neighbor, Steve, informed him he has to have a California State
Contractor's License to even work on his own property. Anthony says
that Steve is wrong. Who is right in this situation?
Anthony is correct, anyone who does the business of a contractor must
be licensed.
Steve is correct, any major work conducted on real property must be
done by a licensed state contractor.
Anthony is correct. Anyone who does the business of a contractor must
be licensed.
Unless, the property owner is planning to sell
the finished real estate project, he does not
need a license to work on his own property.
None of the Above. ---------CORRECT ANSWER-----------------C
, 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
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?
EXAM QUESTIONS AND CORRECT ANSWERS |
VERIFIED ANSWERS | UPDATED VERSION
Calvin is buying his first home. He has been saving and saving for years.
The home he is buying has a price of $300,000 and Calvin has a down
payment of $75,000. Calvin's loan is considered:
Highly Secured
Low Risk
Simple Interest
Highly Leveraged ---------CORRECT ANSWER-----------------B
Adeeb has listed his condo with Maria's broker and she is his listing
agent. The listing agreement is signed and the day to begin showing his
property is nearing. Adeeb decides the day before the open house to
raise his asking price by $20,000. Maria disagrees with the decision but
goes along with Adeeb's wishes. How must Maria take care of this
contractual change in price?
Maria must change the listing price on a price change or extension
form.
,Maria may make the change on the original contract due to the fact the
condo has not been professionally shown by licensees.
The listing price change does not need to be changed on the contract.
The price that will be paid for the condo does not have to be the listing
price; therefore, it is just a guide, not set in stone.
None of the Above. ---------CORRECT ANSWER-----------------A
Although 16-year-old Tameka's goal is to be a licensed real estate
salesperson in the State of California, she is currently living in Canada.
Her long-term goal is to be a successful salesperson, manager, and to
own a brokerage. She has been studying the Real Estate Principles
Course for next week's exam. However, if she passes, she cannot apply
for her 4 year salesperson's license. Why?
Tameka cannot apply for a 4-year salesperson because she has not
completed three
college-level real estate courses.
Tameka is only sixteen and a licensee must be eighteen years old.
Tameka cannot provide proof of legal presence in the United States.
,Both A and B ---------CORRECT ANSWER-----------------D
Anthony is adding a new deck to his home. He has obtained all the
necessary building permits to construct his new deck. Anthony's
neighbor, Steve, informed him he has to have a California State
Contractor's License to even work on his own property. Anthony says
that Steve is wrong. Who is right in this situation?
Anthony is correct, anyone who does the business of a contractor must
be licensed.
Steve is correct, any major work conducted on real property must be
done by a licensed state contractor.
Anthony is correct. Anyone who does the business of a contractor must
be licensed.
Unless, the property owner is planning to sell
the finished real estate project, he does not
need a license to work on his own property.
None of the Above. ---------CORRECT ANSWER-----------------C
, 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
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?
