National Real Estate Exam - Guide to
Pearson Vue Book Questions &
Answers (Grade A+)
The phrase definite duration refers to: -
correct answer ✅An estate for years
A lease that automatically renews itself, in the absence of notice, is:
-
correct answer ✅A periodic tenancy
A man just sold a condo for $80,000. This gave him a 20% profit on
what he paid. What did the man pay? $80,000/1.20 -
correct answer ✅$66,666
A requirement of a valid deed is that the deed be: -
correct answer ✅Signed by the grantor
To locate buyers for other properties, a broker advertised a
property that was not available but which would generate great
interest. The broker's action violated: -
correct answer ✅The Truth In Lending Act
A federally mandated disclosure deals with: -
correct answer ✅Lead paint
,National Real Estate Exam - Guide to
Pearson Vue Book Questions &
Answers (Grade A+)
If no period is set for a residential tenancy but rent is to be paid
monthly, the lease is a: -
correct answer ✅periodic tenancy
A builder wanted the listing to reflect $85 per square foot for a
2,500 square foot home plus $75,000 for the lot after the 6%
commission was paid. What should the home be listed at to meet
the builder's wishes? 2500x85 = 212,500 + 75,000 = 287,500/.94 =
305,851 -
correct answer ✅$305, 851
To alienate property means to -
correct answer ✅Transfer it
A deed restriction is BEST described as -
correct answer ✅An encumbrance
A minor discrepancy concerning a title is -
correct answer ✅A cloud on the title
, National Real Estate Exam - Guide to
Pearson Vue Book Questions &
Answers (Grade A+)
An example of liquidated damages in a real property purchase
contract is -
correct answer ✅the forfeiture of a deposit
The annual percentage rate is -
correct answer ✅greater than the nominal rate
Collateral for a real estate loan is the: -
correct answer ✅property
A clause in a mortgage that provides for the assignment of rents
benefits the: -
correct answer ✅mortgagee
The secondary mortgage marketplace refers to -
correct answer ✅the resale mortgage marketplace
Fannie Mae activities include -
correct answer ✅purchasing mortgages originated by financial
institutions
Pearson Vue Book Questions &
Answers (Grade A+)
The phrase definite duration refers to: -
correct answer ✅An estate for years
A lease that automatically renews itself, in the absence of notice, is:
-
correct answer ✅A periodic tenancy
A man just sold a condo for $80,000. This gave him a 20% profit on
what he paid. What did the man pay? $80,000/1.20 -
correct answer ✅$66,666
A requirement of a valid deed is that the deed be: -
correct answer ✅Signed by the grantor
To locate buyers for other properties, a broker advertised a
property that was not available but which would generate great
interest. The broker's action violated: -
correct answer ✅The Truth In Lending Act
A federally mandated disclosure deals with: -
correct answer ✅Lead paint
,National Real Estate Exam - Guide to
Pearson Vue Book Questions &
Answers (Grade A+)
If no period is set for a residential tenancy but rent is to be paid
monthly, the lease is a: -
correct answer ✅periodic tenancy
A builder wanted the listing to reflect $85 per square foot for a
2,500 square foot home plus $75,000 for the lot after the 6%
commission was paid. What should the home be listed at to meet
the builder's wishes? 2500x85 = 212,500 + 75,000 = 287,500/.94 =
305,851 -
correct answer ✅$305, 851
To alienate property means to -
correct answer ✅Transfer it
A deed restriction is BEST described as -
correct answer ✅An encumbrance
A minor discrepancy concerning a title is -
correct answer ✅A cloud on the title
, National Real Estate Exam - Guide to
Pearson Vue Book Questions &
Answers (Grade A+)
An example of liquidated damages in a real property purchase
contract is -
correct answer ✅the forfeiture of a deposit
The annual percentage rate is -
correct answer ✅greater than the nominal rate
Collateral for a real estate loan is the: -
correct answer ✅property
A clause in a mortgage that provides for the assignment of rents
benefits the: -
correct answer ✅mortgagee
The secondary mortgage marketplace refers to -
correct answer ✅the resale mortgage marketplace
Fannie Mae activities include -
correct answer ✅purchasing mortgages originated by financial
institutions
