practice exam
questions and
Answers Updated
2026
WhichBofBtheBfollowingBbestBdescribesBtenancyBinBcommon?B-
BAnswerBUndividedBinterestBwithoutBsurvivorship
ABpropertyBownerBdiscoversBthatBtheirBneighborBhasBbeenBusingBaBportionBofBtheirBl
andBforBoverBfiveByears.BWhatBisBtheBfirstBstepBtheBownerBshouldBtakeBtoBaddressBt
heBpotentialBadverseBpossessionBclaim?B-BAnswerBConsultBaBrealBestateBattorney
TheBLotBandBBlockBmethodBofBlegalBpropertyBdescriptionBisBprimarilyBusedBfor?B-
BAnswerBDescribingBpropertyBinBurbanBdevelopments
ABrealBestateBbrokerBisBadvisingBaBclientBinterestedBinBdevelopingBaBvacantBlotBintoB
aBretailBstore,BbutBtheBlotBisBcurrentlyBzonedBforBresidentialBuse.BWhatBshouldBtheBb
rokerBadviseBtheBclientBtoBdoBfirst?B-BAnswerBApplyBforBaBzoningBchange.
WhatBisBtrueBaboutBoptionBagreementsBinBrealBestate?B-
BAnswerBTheyBgrantBanBexclusiveBrightBtoBpurchase.
InBrealBestateBtransactions,BverbalBagreementsBareBgenerally:B-
BAnswerBnotBenforceable
, IfBaBpartyBtoBaBrealBestateBcontractBisBunableBtoBfulfillBtheirBobligations,BwhatBisBmo
stBlikelyBlegalBimplication?B-BAnswerBTheBnon-
performingBpartyBmayBbeBinBbreachBofBcontract
InBaBrealBestateBcontractBstatingBthatBtheBsaleBisBcontingentBuponBtheBbuyerBobtaini
ngBaBsatisfactoryBhomeBinspection,BifBtheBinspectionBrevealsBsignificantBissues,BtheBbu
yer:B-BAnswerBCanBvoidBaBcontract
IfBaBbuyerBbreachesBaBrealBestateBpurchaseBcontract,BwhatBisBtheBmostBethicalBactio
nBforBtheBrealBestateBprofessional?B-
BAnswerBRecommendBseekingBlegalBadviceBtoBunderstandBoptions.
WhatBdoesBtheBtermB"blockbusting"BreferBtoBinBrealBestateBpractices?B-
BAnswerBIncludingBsalesBthroughBdemographicBchanges.
IfBaBborrowerBtakesBoutBaB$90,000BmortgageBonBaBhomeBvaluedBatB$120,000,Bwhat
BisBtheBLoan-to-ValueB(LTV)Bratio?B-BAnswerB75%
ABbuyerBisBconsideringBaB15-
yearBfixedBrateBmortgageBofB$200,000BwithBanBannualBinterestBrateBofB3.5%.BWhatBi
sBtheBmonthlyBpaymentBforBprincipalBandBinterest?B-BAnswerB$1429.77
IdentifyBtheBtermBthatBdescribesBtheBlegalBrightBtoBown,Buse,BandBdisposeBofBproper
ty.B-BAnswerBTitle
WhichBtermBdescribesBaBcontractBformedBbyBtheBactionsBofBtheBparties?B-
BAnswerBimpliedBcontract
WhatBdoesB'ratification'BmeanBinBtheBcontextBofBagencyBrelationships?B-
BAnswerBPrincipalBacceptsBactionsBdoneBwithoutBauthority.