ACEABLE AGENT REAL ESTATE
PRINCIPLES TEST BANK 2026
COMPREHENSIVE QUESTIONS AND
ACCURATE SOLUTIONS VERIFIED
◉ Closing. Answer: The completion of a real estate transaction in which
the buyer receives ownership and the seller receives the contract amount
◉ Comparative Market Analysis (CMA). Answer: A report comparing
the prices of sold homes that are similar to the subject property (called
comparables), created by a license holder to help the seller or buyer
determine the market value
◉ Seller's Market. Answer: a market condition in which the number of
properties for sale does not meet the demand (number of people looking
to buy)
◉ Buyer's Market. Answer: relatively low demand for real estate in the
area (it will take 6 months or more to sell a house)
◉ Agent. Answer: A person who acts on behalf of someone else
◉ Seller's Disclosure Notice. Answer: A document filled out by the
seller concerning any defects in the improvements on the property
, ◉ Subagent. Answer: A license holder from one office who represents
the seller through cooperation with the listing broker of another
company
◉ Material Fact. Answer: Any fact that is significant or essential to the
transaction
◉ Principle. Answer: the individual who authorizes another person to
act on their behalf
◉ Intermediary Relationships. Answer: occur when the same real estate
office is representing both the seller and the buyer as clients in the same
transaction
◉ Third Party. Answer: the individual with whom the agent and
principal enter into real estate negotiations. The third party is also
sometimes referred to as the customer
◉ Agency Relationship Disclosure. Answer: Agency relationships
should be disclosed at first contact
◉ Community Reinvestment Act. Answer: Helps commercial banks and
savings associations meet the needs of borrowers in all segments of their
communities, including low- and moderate-income neighborhoods
PRINCIPLES TEST BANK 2026
COMPREHENSIVE QUESTIONS AND
ACCURATE SOLUTIONS VERIFIED
◉ Closing. Answer: The completion of a real estate transaction in which
the buyer receives ownership and the seller receives the contract amount
◉ Comparative Market Analysis (CMA). Answer: A report comparing
the prices of sold homes that are similar to the subject property (called
comparables), created by a license holder to help the seller or buyer
determine the market value
◉ Seller's Market. Answer: a market condition in which the number of
properties for sale does not meet the demand (number of people looking
to buy)
◉ Buyer's Market. Answer: relatively low demand for real estate in the
area (it will take 6 months or more to sell a house)
◉ Agent. Answer: A person who acts on behalf of someone else
◉ Seller's Disclosure Notice. Answer: A document filled out by the
seller concerning any defects in the improvements on the property
, ◉ Subagent. Answer: A license holder from one office who represents
the seller through cooperation with the listing broker of another
company
◉ Material Fact. Answer: Any fact that is significant or essential to the
transaction
◉ Principle. Answer: the individual who authorizes another person to
act on their behalf
◉ Intermediary Relationships. Answer: occur when the same real estate
office is representing both the seller and the buyer as clients in the same
transaction
◉ Third Party. Answer: the individual with whom the agent and
principal enter into real estate negotiations. The third party is also
sometimes referred to as the customer
◉ Agency Relationship Disclosure. Answer: Agency relationships
should be disclosed at first contact
◉ Community Reinvestment Act. Answer: Helps commercial banks and
savings associations meet the needs of borrowers in all segments of their
communities, including low- and moderate-income neighborhoods
