Metro Broker FINAL EXAM STUDY GUIDE
2026/2027 COMPLETE QUESTIONS WITH
VERIFIED CORRECT ANSWERS ||
100% GUARANTEED PASS
<NEWEST VERSION>
1. How to prove a broker is not culpable if an agent makes a mistake? -
ANSWER ✔ Prove reasonable supervision, no interaction, no ratification. (P
18-10)
2. Who is the rightful owner if a deed is not recorded? - ANSWER ✔ Buyer
with constructive notice, no subsequent recordations. (P 4-18)
3. How is an appraisal charged? - ANSWER ✔ Fee can't be based on value
estimate. (P 12-2)
4. What are trade fixtures and when can they be removed? - ANSWER ✔
Personal property attached by lessee for business, can be removed before
lease end without waste. (P 1-6)
5. What is the definition of a trade fixture? - ANSWER ✔ An item of personal
property attached to land or building for business. (P 1-6)
6. What is the definition of constructive notice? - ANSWER ✔ Notice given by
visible possession or use of property. (P 4-18)
,7. What is the definition of waste? - ANSWER ✔ Damage to property by
tenant beyond normal wear and tear. (P 1-6)
8. What is the definition of an appraisal? - ANSWER ✔ An estimate of
property value by a licensed appraiser. (P 12-2)
9. How long is a lender's policy valid? - ANSWER ✔ As long as there is an
outstanding balance on the loan
10.What does an owner's policy protect? - ANSWER ✔ Owner's equity in the
property
11.How long does an owner's policy last? - ANSWER ✔ At a minimum, for as
long as this owner or the heirs have an interest or obligation regarding the
property
12.Is an owner's policy transferable? - ANSWER ✔ No
13.Is an owner's policy mandatory? - ANSWER ✔ No, it is optional but
prudent to purchase
14.What is reproduction cost? - ANSWER ✔ Cost at today's prices of
constructing an exact replica
1) What is your take-home from a if the total commission for the sale
was 6%, which equaled $13,545.00 if you have a 70/30 split with your
broker?
a) $6772.50
, b) $4740.75
c) $3254.76
d) $6000.00 - ANSWER ✔ b) $4,740.75
Assuming there is a co-broker involved with a 50/50
$13,545. = $6,772.50 (this is the amount split W/your broker)
$6,772.50 X 70% = $4,740.75
15.2) What is a CAM license for?
a) Listing property
b) Managing apartment building
c) Managing building projects
d) Manager of a subdivision association - ANSWER ✔ d)
Manager of a subdivision association
16.If an agent is leaving ABC Realty but still has deals pending, what
determines how you'll be paid? - ANSWER ✔ • Employment Contract
• Written agreement between brokers
17.If seller wants to default (back out) of a contract, their agent must suggest
they: - ANSWER ✔ Seek legal advice or to speak to an attorney
18.An ad says an item is 99¢ etc., according to regulation Z it doesn't cover: -
ANSWER ✔ Simple interest rate
19.Conspiring to fixed prices is a violation of: - ANSWER ✔ The Sherman
Anti Trust Act
, 20.Trigger term under Regulation Z: - ANSWER ✔ "Nothing down"
21.If 2 people get into contract but close in 10 days, it's a: - ANSWER ✔
Bilateral contract in executory.
22.Not a violation of the Fair Housing Act - ANSWER ✔ Prohibition of
alcohol consumption in an area
23.Which of these is personal property?:
A. Picket fence
B. Fructus naturales
C. Fructus industriales - ANSWER ✔ C. Fructus
industriales
24.The transfer of all of the tenants rights and interests in a lease is called: -
ANSWER ✔ Assignment
25.Real Estate Commissioner isn't required to be: - ANSWER ✔ A Real Estate
licensee
26.If 2 brokers open a firm, what must happen? - ANSWER ✔ The qualifying
broker of the corporation must be an officer
27.What is puffing? - ANSWER ✔ A statement of exaggeration
28.When a listing broker is working with a prospect buyer, and want to avoid
dual agency, they must: - ANSWER ✔ Treat them as a customer
2026/2027 COMPLETE QUESTIONS WITH
VERIFIED CORRECT ANSWERS ||
100% GUARANTEED PASS
<NEWEST VERSION>
1. How to prove a broker is not culpable if an agent makes a mistake? -
ANSWER ✔ Prove reasonable supervision, no interaction, no ratification. (P
18-10)
2. Who is the rightful owner if a deed is not recorded? - ANSWER ✔ Buyer
with constructive notice, no subsequent recordations. (P 4-18)
3. How is an appraisal charged? - ANSWER ✔ Fee can't be based on value
estimate. (P 12-2)
4. What are trade fixtures and when can they be removed? - ANSWER ✔
Personal property attached by lessee for business, can be removed before
lease end without waste. (P 1-6)
5. What is the definition of a trade fixture? - ANSWER ✔ An item of personal
property attached to land or building for business. (P 1-6)
6. What is the definition of constructive notice? - ANSWER ✔ Notice given by
visible possession or use of property. (P 4-18)
,7. What is the definition of waste? - ANSWER ✔ Damage to property by
tenant beyond normal wear and tear. (P 1-6)
8. What is the definition of an appraisal? - ANSWER ✔ An estimate of
property value by a licensed appraiser. (P 12-2)
9. How long is a lender's policy valid? - ANSWER ✔ As long as there is an
outstanding balance on the loan
10.What does an owner's policy protect? - ANSWER ✔ Owner's equity in the
property
11.How long does an owner's policy last? - ANSWER ✔ At a minimum, for as
long as this owner or the heirs have an interest or obligation regarding the
property
12.Is an owner's policy transferable? - ANSWER ✔ No
13.Is an owner's policy mandatory? - ANSWER ✔ No, it is optional but
prudent to purchase
14.What is reproduction cost? - ANSWER ✔ Cost at today's prices of
constructing an exact replica
1) What is your take-home from a if the total commission for the sale
was 6%, which equaled $13,545.00 if you have a 70/30 split with your
broker?
a) $6772.50
, b) $4740.75
c) $3254.76
d) $6000.00 - ANSWER ✔ b) $4,740.75
Assuming there is a co-broker involved with a 50/50
$13,545. = $6,772.50 (this is the amount split W/your broker)
$6,772.50 X 70% = $4,740.75
15.2) What is a CAM license for?
a) Listing property
b) Managing apartment building
c) Managing building projects
d) Manager of a subdivision association - ANSWER ✔ d)
Manager of a subdivision association
16.If an agent is leaving ABC Realty but still has deals pending, what
determines how you'll be paid? - ANSWER ✔ • Employment Contract
• Written agreement between brokers
17.If seller wants to default (back out) of a contract, their agent must suggest
they: - ANSWER ✔ Seek legal advice or to speak to an attorney
18.An ad says an item is 99¢ etc., according to regulation Z it doesn't cover: -
ANSWER ✔ Simple interest rate
19.Conspiring to fixed prices is a violation of: - ANSWER ✔ The Sherman
Anti Trust Act
, 20.Trigger term under Regulation Z: - ANSWER ✔ "Nothing down"
21.If 2 people get into contract but close in 10 days, it's a: - ANSWER ✔
Bilateral contract in executory.
22.Not a violation of the Fair Housing Act - ANSWER ✔ Prohibition of
alcohol consumption in an area
23.Which of these is personal property?:
A. Picket fence
B. Fructus naturales
C. Fructus industriales - ANSWER ✔ C. Fructus
industriales
24.The transfer of all of the tenants rights and interests in a lease is called: -
ANSWER ✔ Assignment
25.Real Estate Commissioner isn't required to be: - ANSWER ✔ A Real Estate
licensee
26.If 2 brokers open a firm, what must happen? - ANSWER ✔ The qualifying
broker of the corporation must be an officer
27.What is puffing? - ANSWER ✔ A statement of exaggeration
28.When a listing broker is working with a prospect buyer, and want to avoid
dual agency, they must: - ANSWER ✔ Treat them as a customer
