NATIONAL REAL ESTATE EXAM EXAM COVERAGE
National Real Estate Exam
Property Ownership & Land Use
Real vs. personal property
Types of estates and interests
Encumbrances: liens, easements, deed
restrictions
Land use controls and zoning
Contracts & Agency
Listing agreements, purchase contracts, and
contingencies
Agency relationships and fiduciary duties
Disclosure requirements and dual agency rules
Finance & Valuation
Types of mortgages and loan programs
Financing calculations (loan-to-value, PMI,
interest)
Appraisal methods: cost, sales comparison,
income
Practice of Real Estate
Fair Housing laws and anti-discrimination
regulations
Property management basics
Marketing, advertising, and ethics
Transfer of Property
, Deeds, title, and ownership transfer
Closings and settlement procedures
Title insurance and recording
Math & Calculations
Commission, prorations, property taxes, area
calculations
Mortgage payment and interest computations
Real Estate Law & Regulations
Federal and state regulations
Consumer protection laws
Licensing requirements and disciplinary actions
A Christian organization owns a Yes. Religious organizations which rent to
fourplex. It wants to rent to only tenants for residential purposes are exempt from
Christian tenants. Under the federal the Fair Housing Act
Fair Housing Act, is this legal?
What happens to trade fixtures The tenant removes their trade fixtures and takes
after a business moves out of a them upon moving out.
leased property?
,Suppose that a borrower has a $280
gross monthly income of $3,000
and wants to qualify for a
conforming loan (total debt
service ratio of 36%) with a monthly
PITI payment of $800. What is the
maximum amount of additional
long-term obligations this
borrower may have after PITI?
A square bedroom measures 10 100 square feet
feet by 10 feet. What is the area of
the room?
Which of these is an economic situs
characteristic that makes land a
distinctive commodity?*
In most cases, broker 5-7%
compensation, as a percentage of
home price, falls somewhere
between:
In a fixed-rate mortgage that is predetermined
fully amortized, the total amount of
interest to be paid is:
, Which is exempt from the federal renting a room in a house occupied by the
Fair Housing Act? owner
The Americans with Disabilities Act privately owned or government-owned public
applies to: accommodations
Condemnation is the act of seizing eminent domain
private property from citizens.
What gives the government the
right to do this?
The PHYSICAL characteristics of immobile
land are that land is indestructible,
non-homogenous, and:
Which statement BEST defines the stipulation that must be satisfied before the
term contingency? contract can be performed
If a borrower is behind on call the entire loan balance due immediately
payments, the acceleration clause
gives the lender the ability to:
A metes and bounds legal the point of beginning
description always returns to:
National Real Estate Exam
Property Ownership & Land Use
Real vs. personal property
Types of estates and interests
Encumbrances: liens, easements, deed
restrictions
Land use controls and zoning
Contracts & Agency
Listing agreements, purchase contracts, and
contingencies
Agency relationships and fiduciary duties
Disclosure requirements and dual agency rules
Finance & Valuation
Types of mortgages and loan programs
Financing calculations (loan-to-value, PMI,
interest)
Appraisal methods: cost, sales comparison,
income
Practice of Real Estate
Fair Housing laws and anti-discrimination
regulations
Property management basics
Marketing, advertising, and ethics
Transfer of Property
, Deeds, title, and ownership transfer
Closings and settlement procedures
Title insurance and recording
Math & Calculations
Commission, prorations, property taxes, area
calculations
Mortgage payment and interest computations
Real Estate Law & Regulations
Federal and state regulations
Consumer protection laws
Licensing requirements and disciplinary actions
A Christian organization owns a Yes. Religious organizations which rent to
fourplex. It wants to rent to only tenants for residential purposes are exempt from
Christian tenants. Under the federal the Fair Housing Act
Fair Housing Act, is this legal?
What happens to trade fixtures The tenant removes their trade fixtures and takes
after a business moves out of a them upon moving out.
leased property?
,Suppose that a borrower has a $280
gross monthly income of $3,000
and wants to qualify for a
conforming loan (total debt
service ratio of 36%) with a monthly
PITI payment of $800. What is the
maximum amount of additional
long-term obligations this
borrower may have after PITI?
A square bedroom measures 10 100 square feet
feet by 10 feet. What is the area of
the room?
Which of these is an economic situs
characteristic that makes land a
distinctive commodity?*
In most cases, broker 5-7%
compensation, as a percentage of
home price, falls somewhere
between:
In a fixed-rate mortgage that is predetermined
fully amortized, the total amount of
interest to be paid is:
, Which is exempt from the federal renting a room in a house occupied by the
Fair Housing Act? owner
The Americans with Disabilities Act privately owned or government-owned public
applies to: accommodations
Condemnation is the act of seizing eminent domain
private property from citizens.
What gives the government the
right to do this?
The PHYSICAL characteristics of immobile
land are that land is indestructible,
non-homogenous, and:
Which statement BEST defines the stipulation that must be satisfied before the
term contingency? contract can be performed
If a borrower is behind on call the entire loan balance due immediately
payments, the acceleration clause
gives the lender the ability to:
A metes and bounds legal the point of beginning
description always returns to:
