Missed Questions – Real Estate Exam with Questions and Answers – 100% Solved
A borrower has defaulted on the mortgage. The mortgage contains an acceleration clause. This
permits the lender to - ✔✔✔-demand immediate payment of the entire note
A broker acting as a transaction licensee would violate the license law by doing which of the
following? - ✔✔✔-Disclosing that the buyer will agree to financing terms other than those
offered
A broker has brought a ready, willing, and able buyer to a seller. In MOST listing contracts, the
broker has earned his commission when - ✔✔✔-the seller accepts the offer
A broker has heard that an individual is thinking about selling her property. Two times per week
for the last month, the broker has solicited the prospective seller to list the property for sale.
The real estate commission would view this form of advertising and solicitation: - ✔✔✔-As a
violation on the basis of harassment
A broker lists a home. Which CANNOT terminate this agreement? - ✔✔✔-Death of Broker
A broker may legally collect commissions from both the seller and the buyer when: - ✔✔✔-The
buyer and seller provide prior knowledge by written informed consent
A broker owns a real estate brokerage, a title company, a mortgage company, and an insurance
company. The broker advertises one-stop services in his advertising. Which law requires the
broker to disclose the material relationships when a client buys the property through the broker,
gets the loan from the in-house lender, used the broker's title company to close the transaction,
and secured an insurance policy from the broker's insurance company - ✔✔✔-RESPA
A broker owns a real estate brokerage, a title company, a mortgage company, and an insurance
company. The broker advertises one-stop services in his advertising. Which law requires the
broker to disclose the material relationships when a client buys the property through the broker,
gets the loan from the in-house lender, used the broker's title company to close the transaction,
and secured an insurance policy from the broker's insurance company? - ✔✔✔-RESPA
,Missed Questions – Real Estate Exam with Questions and Answers – 100% Solved
A broker supplies the financing for a project to build condominiums with the stipulation that he
has the exclusive right to sell the completed condos. Which of the following BEST describes this
relationship? - ✔✔✔-Agency coupled with an interest
A broker wishes to conduct real estate business under a business name. All of the following are
false except: - ✔✔✔-When using the business name, the broker must always represent the
business name exactly as it appears on the license
A commercial tenant installs a pizza oven in his new restaurant. The pizza oven would be
deemed a(n) - ✔✔✔-Chattel
A contract has been drawn which obliges the sellers to convey title to their land to the buyers if
the buyers come up with $22,000 on or before December 31st. This is called - ✔✔✔-an option
contract
A counteroffer constitutes a - ✔✔✔-Change
A farm was zoned agricultural in 1859 and has been handed down from lineal descendent to
lineal descendant. In 1939, the government zoned the entire region to be used for commercial
development. The farm still exists today. How is this possible? - ✔✔✔-nonconforming use
A judgment has been properly recorded. Any subsequent purchasers, whether they have
actually examined the record or not, have been given - ✔✔✔-constructive notice
A landlord may legally refuse to rent to a prospective tenant if the tenant - ✔✔✔-has ever been
convicted of selling illegal drugs.
A lease executed by a minor lessor is - ✔✔✔-voidable by the landlord only
, Missed Questions – Real Estate Exam with Questions and Answers – 100% Solved
A lender who receives a mortgage contract as security on a mortgage loan is known as the -
✔✔✔-mortgagee
A lender will make an 80% loan-to-value loan on a property that is appraised for $72,250 and
sells for $73,500. If the buyer has saved $14,450 for a down payment, how much more (if any)
will he need in order to make the down payment required under the terms of this loan? -
✔✔✔-He needs an additional $1,250 in order to make the down payment.
A licensed salesperson is offering one of her personally owned investment properties for sale.
When advertising the property, all of the following are false except: - ✔✔✔-The licensee must
disclose her status as a licensee if the property is not listed with a real estate company
A licensee is listing a property in a known flood plain. The seller flatly denies that the structure
and the property have ever been flooded. What is the licensee required to do in this situation? -
✔✔✔-Inform the seller of the legal obligation to disclose facts regarding flood plains.
A loan which requires the borrower to pay interest only until the maturity date (or due date),
and then to pay the entire principal on the maturity date, is called a - ✔✔✔-Term loan
A major difference between freehold and nonfreehold estates is that all freehold estates -
✔✔✔-are of indeterminable duration
A major reason for buying and owning a condominium rather than a detached single-family
home is that - ✔✔✔-a condominium tends to be more affordable
A person who receives title to real property through a last will and testament is called a - ✔✔✔-
Devisee
A property manager of a retail complex sells the property to a customer procured by the
property manager himself. The property manager does not execute an agency disclosure
A borrower has defaulted on the mortgage. The mortgage contains an acceleration clause. This
permits the lender to - ✔✔✔-demand immediate payment of the entire note
A broker acting as a transaction licensee would violate the license law by doing which of the
following? - ✔✔✔-Disclosing that the buyer will agree to financing terms other than those
offered
A broker has brought a ready, willing, and able buyer to a seller. In MOST listing contracts, the
broker has earned his commission when - ✔✔✔-the seller accepts the offer
A broker has heard that an individual is thinking about selling her property. Two times per week
for the last month, the broker has solicited the prospective seller to list the property for sale.
The real estate commission would view this form of advertising and solicitation: - ✔✔✔-As a
violation on the basis of harassment
A broker lists a home. Which CANNOT terminate this agreement? - ✔✔✔-Death of Broker
A broker may legally collect commissions from both the seller and the buyer when: - ✔✔✔-The
buyer and seller provide prior knowledge by written informed consent
A broker owns a real estate brokerage, a title company, a mortgage company, and an insurance
company. The broker advertises one-stop services in his advertising. Which law requires the
broker to disclose the material relationships when a client buys the property through the broker,
gets the loan from the in-house lender, used the broker's title company to close the transaction,
and secured an insurance policy from the broker's insurance company - ✔✔✔-RESPA
A broker owns a real estate brokerage, a title company, a mortgage company, and an insurance
company. The broker advertises one-stop services in his advertising. Which law requires the
broker to disclose the material relationships when a client buys the property through the broker,
gets the loan from the in-house lender, used the broker's title company to close the transaction,
and secured an insurance policy from the broker's insurance company? - ✔✔✔-RESPA
,Missed Questions – Real Estate Exam with Questions and Answers – 100% Solved
A broker supplies the financing for a project to build condominiums with the stipulation that he
has the exclusive right to sell the completed condos. Which of the following BEST describes this
relationship? - ✔✔✔-Agency coupled with an interest
A broker wishes to conduct real estate business under a business name. All of the following are
false except: - ✔✔✔-When using the business name, the broker must always represent the
business name exactly as it appears on the license
A commercial tenant installs a pizza oven in his new restaurant. The pizza oven would be
deemed a(n) - ✔✔✔-Chattel
A contract has been drawn which obliges the sellers to convey title to their land to the buyers if
the buyers come up with $22,000 on or before December 31st. This is called - ✔✔✔-an option
contract
A counteroffer constitutes a - ✔✔✔-Change
A farm was zoned agricultural in 1859 and has been handed down from lineal descendent to
lineal descendant. In 1939, the government zoned the entire region to be used for commercial
development. The farm still exists today. How is this possible? - ✔✔✔-nonconforming use
A judgment has been properly recorded. Any subsequent purchasers, whether they have
actually examined the record or not, have been given - ✔✔✔-constructive notice
A landlord may legally refuse to rent to a prospective tenant if the tenant - ✔✔✔-has ever been
convicted of selling illegal drugs.
A lease executed by a minor lessor is - ✔✔✔-voidable by the landlord only
, Missed Questions – Real Estate Exam with Questions and Answers – 100% Solved
A lender who receives a mortgage contract as security on a mortgage loan is known as the -
✔✔✔-mortgagee
A lender will make an 80% loan-to-value loan on a property that is appraised for $72,250 and
sells for $73,500. If the buyer has saved $14,450 for a down payment, how much more (if any)
will he need in order to make the down payment required under the terms of this loan? -
✔✔✔-He needs an additional $1,250 in order to make the down payment.
A licensed salesperson is offering one of her personally owned investment properties for sale.
When advertising the property, all of the following are false except: - ✔✔✔-The licensee must
disclose her status as a licensee if the property is not listed with a real estate company
A licensee is listing a property in a known flood plain. The seller flatly denies that the structure
and the property have ever been flooded. What is the licensee required to do in this situation? -
✔✔✔-Inform the seller of the legal obligation to disclose facts regarding flood plains.
A loan which requires the borrower to pay interest only until the maturity date (or due date),
and then to pay the entire principal on the maturity date, is called a - ✔✔✔-Term loan
A major difference between freehold and nonfreehold estates is that all freehold estates -
✔✔✔-are of indeterminable duration
A major reason for buying and owning a condominium rather than a detached single-family
home is that - ✔✔✔-a condominium tends to be more affordable
A person who receives title to real property through a last will and testament is called a - ✔✔✔-
Devisee
A property manager of a retail complex sells the property to a customer procured by the
property manager himself. The property manager does not execute an agency disclosure
