NATIONAL REAL ESTATE EXAM PRACTICE TEST BANK
MIDTERM EXAM || MOST RECENT EXAM 2026 ACTUAL
COMPLETE REAL EXAM QUESTIONS AND CORRECT
ANSWERS (VERIFIED ANSWERS) ALREADY GRADED A+ |
GUARANTEED SUCCESS!! NEWEST EXAM | JUST
RELEASED!!
After defaulting on a real estate loan, a borrower is able to pay off
the loan prior to the foreclosure sale. This is called:
ANSWERS: right of redemption
The required distance between buildings and a federally protected
endangered species wetlands is an example of...
ANSWERS: a buffer zone
A couple purchased a condominium. The complex has an exercise
room for all residents. The couple does not use the exercise room and
does not want to pay the monthly fee for the use of the facility. What
can they do to avoid this fee?
ANSWERS: they must pay the fee as they have a tenancy in common
interest in all common areas
,Which of the following is personal property?
ANSWERS: a lease
A landlord leased space in his new retail property to an inexperienced
business
person. Based on location and the type of business, the landlord
believes it will be a great success. What type of lease can he enter
into with the tenant that will allow the landlord to benefit from the
tenant's success?
ANSWERS: a percentage lease
A buyer has purchased a property and after closing the seller will
continue to occupy the property. This is an example of...
ANSWERS: sale and leaseback
Your client will be able to qualify for a property they wish to purchase in
about 6 months, after they had an opportunity to reduce their consumer
debt. They have
found a property that they would like to purchase now. What type of
agreement can they enter into with a seller that will allow them to
occupy the property now and
purchase it within the 6 months?
ANSWERS: lease with an option to buy
,Tenants have signed a 3 year lease on a property. In the second
year the owner dies and his heirs inherit the property. They give the
tenants notice to vacate. What is true?
ANSWERS: the tenants can stay until the end of the lease
A developer decides to build a commercial property in the middle of a
residential subdivision. What is required?
ANSWERS: a variance
A zoning ordinance would affect which of the following?
ANSWERS: the concentration of housing in a residential area
If a person dies without a will, who receives their estate?
ANSWERS: spouse and children
What are the requirements/ criteria for real estate to have values?
ANSWERS: demand, utility, scarcity, transferability
What principle of value defines the most important factor for appraisal?
ANSWERS: highest and best use
, What approach would an appraiser most likely use to value a
residential rent house in neighborhood where a majority of the
homes are leased?
ANSWERS: income approach
A licensed broker is advertising that he will perform a free appraisal
if you contact him for a listing appointment. He is not in violation of
the law...
ANSWERS: if he is a licensed appraiser
Which of the following is NOT an example of functional
obsolescence?
ANSWERS: deferred maintenance
According to the Statute of Frauds, which of the following leases
must be in writing?
ANSWERS: a lease for more than one year
MIDTERM EXAM || MOST RECENT EXAM 2026 ACTUAL
COMPLETE REAL EXAM QUESTIONS AND CORRECT
ANSWERS (VERIFIED ANSWERS) ALREADY GRADED A+ |
GUARANTEED SUCCESS!! NEWEST EXAM | JUST
RELEASED!!
After defaulting on a real estate loan, a borrower is able to pay off
the loan prior to the foreclosure sale. This is called:
ANSWERS: right of redemption
The required distance between buildings and a federally protected
endangered species wetlands is an example of...
ANSWERS: a buffer zone
A couple purchased a condominium. The complex has an exercise
room for all residents. The couple does not use the exercise room and
does not want to pay the monthly fee for the use of the facility. What
can they do to avoid this fee?
ANSWERS: they must pay the fee as they have a tenancy in common
interest in all common areas
,Which of the following is personal property?
ANSWERS: a lease
A landlord leased space in his new retail property to an inexperienced
business
person. Based on location and the type of business, the landlord
believes it will be a great success. What type of lease can he enter
into with the tenant that will allow the landlord to benefit from the
tenant's success?
ANSWERS: a percentage lease
A buyer has purchased a property and after closing the seller will
continue to occupy the property. This is an example of...
ANSWERS: sale and leaseback
Your client will be able to qualify for a property they wish to purchase in
about 6 months, after they had an opportunity to reduce their consumer
debt. They have
found a property that they would like to purchase now. What type of
agreement can they enter into with a seller that will allow them to
occupy the property now and
purchase it within the 6 months?
ANSWERS: lease with an option to buy
,Tenants have signed a 3 year lease on a property. In the second
year the owner dies and his heirs inherit the property. They give the
tenants notice to vacate. What is true?
ANSWERS: the tenants can stay until the end of the lease
A developer decides to build a commercial property in the middle of a
residential subdivision. What is required?
ANSWERS: a variance
A zoning ordinance would affect which of the following?
ANSWERS: the concentration of housing in a residential area
If a person dies without a will, who receives their estate?
ANSWERS: spouse and children
What are the requirements/ criteria for real estate to have values?
ANSWERS: demand, utility, scarcity, transferability
What principle of value defines the most important factor for appraisal?
ANSWERS: highest and best use
, What approach would an appraiser most likely use to value a
residential rent house in neighborhood where a majority of the
homes are leased?
ANSWERS: income approach
A licensed broker is advertising that he will perform a free appraisal
if you contact him for a listing appointment. He is not in violation of
the law...
ANSWERS: if he is a licensed appraiser
Which of the following is NOT an example of functional
obsolescence?
ANSWERS: deferred maintenance
According to the Statute of Frauds, which of the following leases
must be in writing?
ANSWERS: a lease for more than one year
