Real Estate Practice Exam Questions With
Defined Answers 2025\2026 A+ Grade
Receipts for copies of the real estate commissioners subdivision final report
- accurate answer-Must be retained for a period of 3 years from the date they
are taken.
Seller's obligations when selling a condominium
- accurate answer-Must furnish The CC&R's, The Bylaws and The Financial
Statements to the buyer.
Charges prohibited by the Real Estate Settlement Procedures Act (RESPA)
- accurate answer-A buyer or seller may legally be charged for appraisals
necessary to make the loan, disclosure settlement statements, preparation of
loan documents, and credit reports, EXCEPT for the specified charges.
Prohibited instructions by a landlord's agent
- accurate answer-Collecting a larger deposit from single men than from single
women or couples is prohibited by the Federal Fair Housing Act.
Discrimination in real estate transactions
- accurate answer-According to fair housing laws, Wendell is not guilty of
discrimination.
Withdrawals from the real estate client's trust account
- accurate answer-Can be made by any individual authorized by the broker in
writing.
Type of advertisement for a property listing
- accurate answer-The advertisement described is an example of a Blind ad.
Broker's financial analysis violation
- accurate answer-Kiki's analysis showing a 12 percent yield without allowing
for vacancy factor, maintenance expenses, or reserves is a possible
Misrepresentation.
,Court order against burning leaves
- accurate answer-The court order received by Mr. Glasssmith is called an
injunction.
Broker's requirement of lender in a transaction
- accurate answer-Mili can require her lender because she is the buyer.
Broker's liability for salesperson's conduct
- accurate answer-Broker may be held liable for the salesperson's conduct in a
real estate transaction.
Broker's control over salesperson's office hours
- accurate answer-Broker may not set the salesperson's office hours and
assign floor time under an independent contractor agreement.
Condominium seller's required documents
- accurate answer-The seller must provide The Bylaws, The Financial
Statements, and The CC&R's.
Legal charges in real estate transactions
- accurate answer-Buyers and sellers can be charged for appraisals, disclosure
statements, loan document preparation, and credit reports.
Fair Housing Act violations
- accurate answer-Instruction 2, which encourages non-minority tenants to
solicit prospective tenants, is prohibited.
Discrimination based on minority status
- accurate answer-Sam is guilty of discrimination for accepting Wendell's offer
based on minority status.
Trust account withdrawal authorization
- accurate answer-Withdrawals can be made by only salespersons employed
and authorized by the broker.
Advertisement content for property listings
- accurate answer-An advertisement containing only property details and
contact information is a Silent ad.
,Misrepresentation in financial analysis
- accurate answer-Kiki's failure to account for expenses in the financial
analysis is a False statement regarding a real property security.
Court order terminology
- accurate answer-A court order to stop an action is referred to as an
injunction.
Negotiation of lender requirements
- accurate answer-Nobody can require any lender because it is a term to be
negotiated.
Independent contractor agreement implications
- accurate answer-Broker may not control the salesperson's conduct in a real
estate transaction.
Real estate commission retention period
- accurate answer-Receipts must be retained for 3 years.
Condominium buyer's required documents
- accurate answer-The buyer must receive The CC&R's, The Bylaws, and The
Financial Statements.
Broker's office hours
- accurate answer-Broker may set the salesperson's office hours and assign
floor time.
Unlicensed assistant
- accurate answer-Any unlicensed assistant of the salesperson must be an
employee of the broker.
State Unemployment Insurance
- accurate answer-Broker must pay State Unemployment Insurance premiums
for the salesperson.
Loan application race question
- accurate answer-Ms. Chung can refuse to fill out that portion of the loan
application.
, Fair housing violation
- accurate answer-A landlord requires a co-signer exclusively for tenants who
are single.
Licensee's obligation
- accurate answer-The licensee may select homes for showing as he would for
any other prospect.
RESPA loan requirements
- accurate answer-The loan applicant must be provided with a loan estimate.
RESPA violation
- accurate answer-A title insurance company paying $40 for referring clients.
Franchise agreement
- accurate answer-An agreement where Bob is granted the right to offer, sell,
or distribute goods or services under a marketing plan described by Adam.
Warehouse rental measurement
- accurate answer-Normally, a structure used primarily as a warehouse would
be rented by the cubic foot.
Salesperson application filing time
- accurate answer-Allison has one year from the date she was notified she
passed the exam to file her application.
As-is condition sale
- accurate answer-Hidden and latent defects must still be disclosed to the
purchaser.
Earnest money deposit
- accurate answer-Andrews should return the note and ask the purchaser to
give him a check for the same amount.
Redlining
- accurate answer-Redlining refers to the now illegal practices by lending
institutions.
Defined Answers 2025\2026 A+ Grade
Receipts for copies of the real estate commissioners subdivision final report
- accurate answer-Must be retained for a period of 3 years from the date they
are taken.
Seller's obligations when selling a condominium
- accurate answer-Must furnish The CC&R's, The Bylaws and The Financial
Statements to the buyer.
Charges prohibited by the Real Estate Settlement Procedures Act (RESPA)
- accurate answer-A buyer or seller may legally be charged for appraisals
necessary to make the loan, disclosure settlement statements, preparation of
loan documents, and credit reports, EXCEPT for the specified charges.
Prohibited instructions by a landlord's agent
- accurate answer-Collecting a larger deposit from single men than from single
women or couples is prohibited by the Federal Fair Housing Act.
Discrimination in real estate transactions
- accurate answer-According to fair housing laws, Wendell is not guilty of
discrimination.
Withdrawals from the real estate client's trust account
- accurate answer-Can be made by any individual authorized by the broker in
writing.
Type of advertisement for a property listing
- accurate answer-The advertisement described is an example of a Blind ad.
Broker's financial analysis violation
- accurate answer-Kiki's analysis showing a 12 percent yield without allowing
for vacancy factor, maintenance expenses, or reserves is a possible
Misrepresentation.
,Court order against burning leaves
- accurate answer-The court order received by Mr. Glasssmith is called an
injunction.
Broker's requirement of lender in a transaction
- accurate answer-Mili can require her lender because she is the buyer.
Broker's liability for salesperson's conduct
- accurate answer-Broker may be held liable for the salesperson's conduct in a
real estate transaction.
Broker's control over salesperson's office hours
- accurate answer-Broker may not set the salesperson's office hours and
assign floor time under an independent contractor agreement.
Condominium seller's required documents
- accurate answer-The seller must provide The Bylaws, The Financial
Statements, and The CC&R's.
Legal charges in real estate transactions
- accurate answer-Buyers and sellers can be charged for appraisals, disclosure
statements, loan document preparation, and credit reports.
Fair Housing Act violations
- accurate answer-Instruction 2, which encourages non-minority tenants to
solicit prospective tenants, is prohibited.
Discrimination based on minority status
- accurate answer-Sam is guilty of discrimination for accepting Wendell's offer
based on minority status.
Trust account withdrawal authorization
- accurate answer-Withdrawals can be made by only salespersons employed
and authorized by the broker.
Advertisement content for property listings
- accurate answer-An advertisement containing only property details and
contact information is a Silent ad.
,Misrepresentation in financial analysis
- accurate answer-Kiki's failure to account for expenses in the financial
analysis is a False statement regarding a real property security.
Court order terminology
- accurate answer-A court order to stop an action is referred to as an
injunction.
Negotiation of lender requirements
- accurate answer-Nobody can require any lender because it is a term to be
negotiated.
Independent contractor agreement implications
- accurate answer-Broker may not control the salesperson's conduct in a real
estate transaction.
Real estate commission retention period
- accurate answer-Receipts must be retained for 3 years.
Condominium buyer's required documents
- accurate answer-The buyer must receive The CC&R's, The Bylaws, and The
Financial Statements.
Broker's office hours
- accurate answer-Broker may set the salesperson's office hours and assign
floor time.
Unlicensed assistant
- accurate answer-Any unlicensed assistant of the salesperson must be an
employee of the broker.
State Unemployment Insurance
- accurate answer-Broker must pay State Unemployment Insurance premiums
for the salesperson.
Loan application race question
- accurate answer-Ms. Chung can refuse to fill out that portion of the loan
application.
, Fair housing violation
- accurate answer-A landlord requires a co-signer exclusively for tenants who
are single.
Licensee's obligation
- accurate answer-The licensee may select homes for showing as he would for
any other prospect.
RESPA loan requirements
- accurate answer-The loan applicant must be provided with a loan estimate.
RESPA violation
- accurate answer-A title insurance company paying $40 for referring clients.
Franchise agreement
- accurate answer-An agreement where Bob is granted the right to offer, sell,
or distribute goods or services under a marketing plan described by Adam.
Warehouse rental measurement
- accurate answer-Normally, a structure used primarily as a warehouse would
be rented by the cubic foot.
Salesperson application filing time
- accurate answer-Allison has one year from the date she was notified she
passed the exam to file her application.
As-is condition sale
- accurate answer-Hidden and latent defects must still be disclosed to the
purchaser.
Earnest money deposit
- accurate answer-Andrews should return the note and ask the purchaser to
give him a check for the same amount.
Redlining
- accurate answer-Redlining refers to the now illegal practices by lending
institutions.
