Topics CRES Final Test Questions with Correct Answers Updated 2026

Topics CRES Final Test Questions
with Correct Answers Updated 2026
WhichAofAtheAfollowingArequiresAtheAuseAofAtheALicenseeABuyoutAAddendumAtoAtheAcontractAt
oABuyA&ASell?A-
AAnswerAAAbrokerAisAofferingAaAguaranteeAasAanAinducementAtoAlistAwithAhisAcompany



TheAbuyerAnotifiesAtheAsellerAinAwritingAofAaAterminationAofAtheAcontractAunderAtheALoanAOb
jectionADeadline.AWhatAhappensAtoAtheAearnestAmoney?A-
AAnswerATheAbrokerAmustAimmediatelyAreturnAtheAmoneyAtoAtheAbuyer



TheAillegalApracticeAofAinducingAhomeownersAtoAsellAtheirApropertiesAbyAmakingArepresentati
onsAaboutAtheAprospectiveAentryAofApersonsAofAaAcertainArace/nationalAoriginAintoAtheAneigh
borhoodAisAalsoAcalled:A-AAnswerAblockbusting


JuneAisAaAlistingAbrokerAinAColorado.AWhenAandAhowAmustAsheAdiscloseAtoAaApotentialAbuye
rAthatAsheAhasAaAworkingArelationshipAwithAtheAseller?A-
AAnswerAinAwriting,AbeforeAprovidingAspecificArealAestateAservices



BeatriceAaAlistingAagentAwhoAhasAreceivedAtwoAsimilarAoffersAtoApurchase.ASheAhasAmadeAan
AappointmentAwithAtheAsellersAtoApresentAtheAoffers,AbutAmeanwhileAanotherAofferAcomesAin
AfromAanAassociateAinAtheAsameAcompany.AInAthisAsituation,AwhichAshouldABeatriceApresent?
A-AAnswerAallAthreeAoffersAforAsimultaneousAreview



AfterAaAtenantAgaveAnoticeAandAvacatedAanAapartment,AtheAlandlordAdiscoveredAsubstantialAd
amageAtoAtheAunit.ANoAtimeAwasAsetAinAtheAleaseAspecifyingAtheAlengthAofAtimeAtheAlandlor
dAhadAtoAaccountAorArefundAtheAsecurityAdepositAafterAdeductions.AWhichAofAtheAfollowingAis
AanAappropriateAactionAbyAtheAlandlord?A-
AAnswerAitemizeAtheAdamageAinAwritingAandAreturnAanyAexcessAdepositAwithinAoneAmonth



StanAisAaArealAestateAbrokerAinAColorado.AHeAhasAidentifiedAaApropertyAforAaAfastAfoodAoutl
etAandAhasAaskedAfourAfriendsAtoAcontributeAmoneyAtoAtheApurchaseAandAgainApartialAowner
ship.AStanAwillAmanageAtheApropertyAandAnegotiateAtheAleaseAforAtheAfastAfoodAfranchise.AW
hichAofAtheAfollowingAisAcorrectAwithAregardAtoAStan'sAroleAasAaAbrokerAinAthisAarrangement
?A -
AAnswerAHeAmustAcomplyAwithAstateAandAfederalAsecuritiesAlawsAinAarrangingAthisAinvestm
entAgroup.


AAsecurityAisAaAfinancialAinstrumentAbackedAbyAassets.ATheyAgiveAtheAholderAanAinterestAorA
rightAinAsomethingAelse.ARegulationAunderAstateAorAfederalAsecuritiesAlawsAmayAapplyAtoAwh

, ichAofAtheAfollowing?A-
AAnswerAResortAcondominiumAprojectAinAwhichAownersAenterAtheirAunitsAinAaAcommonArent
alApoolAtoAenhanceAtheirAincome.
TheAcommonArentalApoolAarrangementAforAincreasingAincomeAmayAqualifyAthisAofferingAasAaA
security.


AAbuyerAandAsellerAhaveAwrittenAtwoAcontractsAforAoneAproperty:AaAhigherAcontractAtoAsubmi
tAforAaAlargerAloanArequestAandAanotherAwithAaAlowerAactualApurchaseApriceAbecauseAtheyAk
nowAtheAsellerAisAanxiousAtoAsellAquickly.AWhichAcorrectlyAdescribesAthisAarrangement?A-
AAnswerAFraudulentAdualAcontracting



HowAisAtheArelationshipAhandledAwhenAaAbuyerAwishesAtoAworkAwithAaAbrokerAtoAlocateApro
pertyAtoApurchase?A-
AAnswerABuyerAandAbrokerAmayAagreeAtoAaArelationshipAwhichAcouldAincludeAagency,Atrans
action-brokerage,AorAnoAworkingArelationshipAbetweenAtheAparties


AAbuyerAisAassumingAaAloanAandAtheAloanAbalanceAhasAturnedAoutAtoAbeAlessAthanAtheAass
umptionAbalanceAprovidedAbyAtheAseller.AHowAwouldAthisAbeAhandledAaccordingAtoAtheAResid
entialAContractAtoABuyAandASellA?A-
AAnswerATheAbuyerAmayAterminateAtheAcontractAbyAwrittenAnoticeAifAtheAdifferenceAcausesA
theAbuyer'sAcashAatAclosingAtoAincreaseAbyAaAstatedAamount.


WhatAisAtheAeffectAofAaALoanAObjectionADeadlineAwhenAspecifiedAinAanAapprovedAResidential
AContractAtoABuyAandASell?A-
AAnswerAIfAtheAbuyerAcannotAgetAaAsatisfactoryAwrittenAloanAcommitmentAbyAthatAdate,Ath
eAbuyerAmayAterminateAtheAcontractAuponAwrittenAnoticeAtoAtheAseller.


WhichAofAtheAfollowingAisAtrueAifAaAbuyerAreceivesAaApropertyAinspectionAreportAindicatingAs
everalAapparentlyAseriousAproblemsAonAtheAdayAafterAtheAInspectionAObjectionADeadline?A-
AAnswerATheAbuyerAmissedAtheAopportunityAtoAobjectAbasedAonAinspectionAissues,AandAtheA
contractAisAstillAinAforce.


InAtheAContractAtoABuyAandASell,AwhatAdoesAtheAstatement,A"timeAisAofAtheAessenceAhereof"
Amean?A-AAnswerAAllAdatesAandAdeadlinesAwillAbeAstrictlyAinterpreted.



HowAareAcourtAcostsAandAlegalAfeesAhandledAifAaAdisputeAoverAtheAResidentialAContractAtoAB
uyAandASellAgoesAtoAcourt?A-AAnswerATheyAareAawardedAtoAtheAwinningAparty.