OHIO REAL ESTATE MAIN EXAMINATION 2026 QUESTIONS
AND ANSWERS GRADED A+
✔✔Who may make a complaint to the Superintendent?
a. anyone
b. Attorney General
c. the local board of Realtors
d. only a licenses attorney at law - ✔✔a. anyone
✔✔The purpose of the licensing law is to
a. legally separate brokers and agents
b. limit the number of agents to reduce competition
c. make it hard to get a license to discourage part time workers
d. protect the public against fraudulent practice - ✔✔d. protect the public against
fraudulent practice
✔✔A broker can buy property in his own name only if
a. he discloses his license
b. he places his license on a voluntary hold
c. his wife releases dower
d. the other side is properly represented - ✔✔a. he discloses his license
✔✔Agent - ✔✔A person licensed to represent another in a real estaet transaction; a
person authorized to represent the principal in dealings with third parties.
✔✔Agency Law - ✔✔Principal appoints agent
Agent works for principal
Ex: Seller- Principal
Broker- Agent of seller and Principal of Sales Agent
Sales Agent- Subagent
✔✔Customer - ✔✔A party in a transaction with whom an agent does not have a
fiduciary duty or relationship, but with whom an agent still be fair and honest.
✔✔Dual Agent - ✔✔A licensee who enters into any of the dual agency relationships set
forth in Ohio license law; when a licensee represents both the buyer and seller in the
same transaction, and all management-level licensees at a brokerage. A management-
level licensee is not a dual agent if there is more than one management-level licensee
in the brokerage and that licensee either personally represents the buyer or seller or
that licensee is the buyer or seller.
✔✔Estoppel - ✔✔A legal doctrine that prevents a person from asserting rights or facts
that are inconsistent with earlier actions or statements, when he failed to object another
person's actions.
, ✔✔Fraud - ✔✔Intentional or negligent misrepresentation or concealment of material
facts; making statements that a person knows, or should realize, are false or
misleading.
✔✔Universal Agent- and an example - ✔✔An agent authorized to do everything that
can be lawfully delegated to a representative.- Court Appointed Guardian
✔✔General Agent- and an example - ✔✔An agent authorized to handle all of the
principal's affairs in one area or in specified areas- Property Manager
✔✔Special Agent- and an example - ✔✔An agent with limited authority to do a specific
thing or conduct a specific transaction.- Real Estate Broker
✔✔Actual Authority - ✔✔is authority intentionally given to an agent by the principal,
either expressly or by implication
✔✔Listing Agreements - ✔✔An agency relationship between a seller and a licensee in a
real estate transaction is usually created with a written document.
BUT does not require it to be in writing
✔✔Management-level licensee - ✔✔A licensee who is employed by or affiliated with a
real estate broker and who has supervisory responsibility over other licensees
employed by or affiliated with that real estate broker.
✔✔Negligence - ✔✔Conduct that falls below the standard of care a reasonable person
would exercise under the circumstances; an unintentional breach of a legal duty
resulting form carelessness, recklessness, or incompetence.
✔✔Principal - ✔✔A person who grants another person authority to represent him in
dealings with third parties.
✔✔Split Agent - ✔✔A licensee assigned by a broker to represent a buyer or seller in a
transaction, usually in an in-company dual agency situation.
✔✔Apparent Agency-
AKA - ✔✔When someone who has not been authorized to represent another acts as if
she is that persons agent.
Legally SHOULD NOT happen in Ohio
AKA- Ostensible Agency
✔✔Ratification - ✔✔The later confirmation or approval of an act that was not authorized
when it was performed.
Legally CANNOT happen in Real Estate in Ohio
AND ANSWERS GRADED A+
✔✔Who may make a complaint to the Superintendent?
a. anyone
b. Attorney General
c. the local board of Realtors
d. only a licenses attorney at law - ✔✔a. anyone
✔✔The purpose of the licensing law is to
a. legally separate brokers and agents
b. limit the number of agents to reduce competition
c. make it hard to get a license to discourage part time workers
d. protect the public against fraudulent practice - ✔✔d. protect the public against
fraudulent practice
✔✔A broker can buy property in his own name only if
a. he discloses his license
b. he places his license on a voluntary hold
c. his wife releases dower
d. the other side is properly represented - ✔✔a. he discloses his license
✔✔Agent - ✔✔A person licensed to represent another in a real estaet transaction; a
person authorized to represent the principal in dealings with third parties.
✔✔Agency Law - ✔✔Principal appoints agent
Agent works for principal
Ex: Seller- Principal
Broker- Agent of seller and Principal of Sales Agent
Sales Agent- Subagent
✔✔Customer - ✔✔A party in a transaction with whom an agent does not have a
fiduciary duty or relationship, but with whom an agent still be fair and honest.
✔✔Dual Agent - ✔✔A licensee who enters into any of the dual agency relationships set
forth in Ohio license law; when a licensee represents both the buyer and seller in the
same transaction, and all management-level licensees at a brokerage. A management-
level licensee is not a dual agent if there is more than one management-level licensee
in the brokerage and that licensee either personally represents the buyer or seller or
that licensee is the buyer or seller.
✔✔Estoppel - ✔✔A legal doctrine that prevents a person from asserting rights or facts
that are inconsistent with earlier actions or statements, when he failed to object another
person's actions.
, ✔✔Fraud - ✔✔Intentional or negligent misrepresentation or concealment of material
facts; making statements that a person knows, or should realize, are false or
misleading.
✔✔Universal Agent- and an example - ✔✔An agent authorized to do everything that
can be lawfully delegated to a representative.- Court Appointed Guardian
✔✔General Agent- and an example - ✔✔An agent authorized to handle all of the
principal's affairs in one area or in specified areas- Property Manager
✔✔Special Agent- and an example - ✔✔An agent with limited authority to do a specific
thing or conduct a specific transaction.- Real Estate Broker
✔✔Actual Authority - ✔✔is authority intentionally given to an agent by the principal,
either expressly or by implication
✔✔Listing Agreements - ✔✔An agency relationship between a seller and a licensee in a
real estate transaction is usually created with a written document.
BUT does not require it to be in writing
✔✔Management-level licensee - ✔✔A licensee who is employed by or affiliated with a
real estate broker and who has supervisory responsibility over other licensees
employed by or affiliated with that real estate broker.
✔✔Negligence - ✔✔Conduct that falls below the standard of care a reasonable person
would exercise under the circumstances; an unintentional breach of a legal duty
resulting form carelessness, recklessness, or incompetence.
✔✔Principal - ✔✔A person who grants another person authority to represent him in
dealings with third parties.
✔✔Split Agent - ✔✔A licensee assigned by a broker to represent a buyer or seller in a
transaction, usually in an in-company dual agency situation.
✔✔Apparent Agency-
AKA - ✔✔When someone who has not been authorized to represent another acts as if
she is that persons agent.
Legally SHOULD NOT happen in Ohio
AKA- Ostensible Agency
✔✔Ratification - ✔✔The later confirmation or approval of an act that was not authorized
when it was performed.
Legally CANNOT happen in Real Estate in Ohio
