Pearson Vue National practice Exam
Actual Questions and Answers 2026
The difference between reproduction cost and the present value of
a property is:
A. appreciation
B. depreciation
C. market value
D. book value -
correct answer ✅B. depreciation
If a prospective buyer is concerned about the electric service on a
property, the buyer's licensee SHOULD:
A. advise the buyer to hire inspectors to examine the property after
the closing
B. recommend that the buyer insert an inspection contingency in
the purchase agreement
,Pearson Vue National practice Exam
Actual Questions and Answers 2026
C. recommend a home warranty for the electric appliances
D. inspect the fuse box personally -
correct answer ✅B. recommend that the buyer insert an
inspection contingency in the purchase agreement
In a condominium apartment project, the BEST term to describe
swimming pools and laundry rooms for the use of unit owners is:
A. common elements
B. limited common elements
C. fee simple elements
D. leasehold elements -
correct answer ✅A. common elements
When a buyer purchases a property subject to a seller's existing
mortgage, which of the following statements is CORRECT?
,Pearson Vue National practice Exam
Actual Questions and Answers 2026
A. The seller's credit will not be affected by foreclosure on the
property.
B. The seller is released from all liability of the loan.
C. Any mortgage loan obtained by the buyer to complete the
purchase will be a first mortgage loan.
D. The seller's obligations under the existing mortgage remain
unchanged. -
correct answer ✅D. The seller's obligations under the existing
mortgage remain unchanged.
If a broker lists a property and agrees to net the seller $83,000 after
the broker's 6% commission is paid, the property must be sold for a
MINIMUM of:
A. $78,020
B. $87,980
, Pearson Vue National practice Exam
Actual Questions and Answers 2026
C. $88,298
D. $93,259 -
correct answer ✅C. $88,298
Which of the following statements about the income approach to
value is CORRECT?
A. It estimates an investment property's value based on its return.
B. It is the most accurate method of appraising single-family
houses.
C. It produces the highest estimate of value possible.
D. It is used to set loan-to-value ratios. -
correct answer ✅A. It estimates an investment property's value
based on its return.
Which of the following clauses will put the priority of an existing
mortgage or deed of trust below that of a mortgage recorded later?
Actual Questions and Answers 2026
The difference between reproduction cost and the present value of
a property is:
A. appreciation
B. depreciation
C. market value
D. book value -
correct answer ✅B. depreciation
If a prospective buyer is concerned about the electric service on a
property, the buyer's licensee SHOULD:
A. advise the buyer to hire inspectors to examine the property after
the closing
B. recommend that the buyer insert an inspection contingency in
the purchase agreement
,Pearson Vue National practice Exam
Actual Questions and Answers 2026
C. recommend a home warranty for the electric appliances
D. inspect the fuse box personally -
correct answer ✅B. recommend that the buyer insert an
inspection contingency in the purchase agreement
In a condominium apartment project, the BEST term to describe
swimming pools and laundry rooms for the use of unit owners is:
A. common elements
B. limited common elements
C. fee simple elements
D. leasehold elements -
correct answer ✅A. common elements
When a buyer purchases a property subject to a seller's existing
mortgage, which of the following statements is CORRECT?
,Pearson Vue National practice Exam
Actual Questions and Answers 2026
A. The seller's credit will not be affected by foreclosure on the
property.
B. The seller is released from all liability of the loan.
C. Any mortgage loan obtained by the buyer to complete the
purchase will be a first mortgage loan.
D. The seller's obligations under the existing mortgage remain
unchanged. -
correct answer ✅D. The seller's obligations under the existing
mortgage remain unchanged.
If a broker lists a property and agrees to net the seller $83,000 after
the broker's 6% commission is paid, the property must be sold for a
MINIMUM of:
A. $78,020
B. $87,980
, Pearson Vue National practice Exam
Actual Questions and Answers 2026
C. $88,298
D. $93,259 -
correct answer ✅C. $88,298
Which of the following statements about the income approach to
value is CORRECT?
A. It estimates an investment property's value based on its return.
B. It is the most accurate method of appraising single-family
houses.
C. It produces the highest estimate of value possible.
D. It is used to set loan-to-value ratios. -
correct answer ✅A. It estimates an investment property's value
based on its return.
Which of the following clauses will put the priority of an existing
mortgage or deed of trust below that of a mortgage recorded later?
