2025 ACEABLE REAL ESTATE PRE-LICENSING EXAM
UPDATE FREQUENTLY TESTED QUESTIONS AND
VERIFIED ANSWERS ALREADY GRADED A+
antitrust laws - ANSWER-laws designed at preventing unfair or
anticompetitive practices such as price fixing, collusion, monopolies, etc.
appraised value - ANSWER-an estimation of property's value as of a
specific date, performed by a certified appraiser
Americans with Disabilities Act - ANSWER-a federal civil rights law passed in
1990 which prohibits discrimination against and create standards for people with
disabilities
amortization - ANSWER-the process of paying off a debt/mortgage in
regular installments based on a fixed payment schedule
pg. 1
,Annual Percentage Rate (APR) - ANSWER-how much the borrower will pay in
interest over the course of a year
appraiser - ANSWER-an individual who is trained and licensed to perform
appraisals, which estimate the value of real property
appreciation - ANSWER-the increase in value of a property
appurtenances - ANSWER-rights that run with real property ownership;
most often transferred with the property, but possible to sell separately
asbestos - ANSWER-a naturally occurring mineral fiber that is commonly
used in insulation but if airborne or inhaled, can cause severe respiratory health
issues
assemblage - ANSWER-the combining of multiple contiguous pieces of real
property into a single tract of land, often resulting in an increase in value
pg. 2
,assessed value - ANSWER-the value placed on a property by a
governmental unit for use in calculating property taxes
assessment - ANSWER-the determination of the value of a property for
tax purposes
asset - ANSWER-item of value
assignment - ANSWER-the transference of rights and obligations in a
contract from one party to another
associate broker - ANSWER-an individual who meets the licensure
requirements to be a real estate broker but provides real estate brokerage services
as an independent contractor to a real estate broker
abstract of title - ANSWER-an abbreviated history of a property, including
information on any transfers, grants, wills, conveyances, liens, and encumbrances
pg. 3
, acceleration clause - ANSWER-a clause in a security instrument which
makes the entire loan amount due immediately upon default
accession - ANSWER-is the right to all that one's own property produces,
including that which is added, either naturally or by human action, to the property
already owned.
accretion - ANSWER-the process that results in the gradual increase in
land area through deposits of soil by natural forces
acre - ANSWER-a measurement of land equal to 43,560 square feet
actual eviction - ANSWER-the legal process by which someone is expelled from a
property and prevented from re-entry
actual notice - ANSWER-when an individual actually knows of a fact
pg. 4
UPDATE FREQUENTLY TESTED QUESTIONS AND
VERIFIED ANSWERS ALREADY GRADED A+
antitrust laws - ANSWER-laws designed at preventing unfair or
anticompetitive practices such as price fixing, collusion, monopolies, etc.
appraised value - ANSWER-an estimation of property's value as of a
specific date, performed by a certified appraiser
Americans with Disabilities Act - ANSWER-a federal civil rights law passed in
1990 which prohibits discrimination against and create standards for people with
disabilities
amortization - ANSWER-the process of paying off a debt/mortgage in
regular installments based on a fixed payment schedule
pg. 1
,Annual Percentage Rate (APR) - ANSWER-how much the borrower will pay in
interest over the course of a year
appraiser - ANSWER-an individual who is trained and licensed to perform
appraisals, which estimate the value of real property
appreciation - ANSWER-the increase in value of a property
appurtenances - ANSWER-rights that run with real property ownership;
most often transferred with the property, but possible to sell separately
asbestos - ANSWER-a naturally occurring mineral fiber that is commonly
used in insulation but if airborne or inhaled, can cause severe respiratory health
issues
assemblage - ANSWER-the combining of multiple contiguous pieces of real
property into a single tract of land, often resulting in an increase in value
pg. 2
,assessed value - ANSWER-the value placed on a property by a
governmental unit for use in calculating property taxes
assessment - ANSWER-the determination of the value of a property for
tax purposes
asset - ANSWER-item of value
assignment - ANSWER-the transference of rights and obligations in a
contract from one party to another
associate broker - ANSWER-an individual who meets the licensure
requirements to be a real estate broker but provides real estate brokerage services
as an independent contractor to a real estate broker
abstract of title - ANSWER-an abbreviated history of a property, including
information on any transfers, grants, wills, conveyances, liens, and encumbrances
pg. 3
, acceleration clause - ANSWER-a clause in a security instrument which
makes the entire loan amount due immediately upon default
accession - ANSWER-is the right to all that one's own property produces,
including that which is added, either naturally or by human action, to the property
already owned.
accretion - ANSWER-the process that results in the gradual increase in
land area through deposits of soil by natural forces
acre - ANSWER-a measurement of land equal to 43,560 square feet
actual eviction - ANSWER-the legal process by which someone is expelled from a
property and prevented from re-entry
actual notice - ANSWER-when an individual actually knows of a fact
pg. 4
