ACEABLE AGENT LATEST 2026 STUDY GUIDE QUESTIONS
AND SOLUTIONS GUARANTEE A+
✔✔Ivan is buying a furnished condo. What type of loan will he need? - ✔✔package
mortgage
✔✔Toni and Karl are married and own a home. It's their primary residence, and they
have homesteaded it. They have two adult children. If Karl dies, who owns the home? -
✔✔no, other inherits property as life estate, kids are remaindermen
✔✔When an agent enters into an agency relationship, despite the fact that no
compensation is offered or paid, they are providing: - ✔✔gratuitous agency
✔✔when actions or words of an individual lead thrid party to believe agency exists
between an individual and the agent (when it doesn't), and neither individual nor agent
takes action to correct impression at time - ✔✔ostensible agency
✔✔Comp 1 is 3,000 sq. ft. and was sold for $300,000. The subject property is 2,800 sq.
ft. If that was the only difference in the properties, using the sales comparison approach,
what would the value of the subject property be? - ✔✔$280000
✔✔Lead based paint disclosure - ✔✔required for residences built prior to 1978
regardless renovations
✔✔Stevie receives an offer for his house. He takes part of that offer and adds new
language. He sends it to the buyer. This revised offer: - ✔✔basically a new offer
✔✔Sales Associate Frank placed escrowed money into his brokerage's operating
expenses account. This is an example of: - ✔✔commingling
✔✔If Manuel is part of an LLP and Shay is part of an unincorporated association, which
of them is eligible to register their business entity as a brokerage? - ✔✔Manuel
✔✔In a contract for deed, what does the buyer receive (until they pay off the entire
loan)? - ✔✔equitable title
✔✔sales contract in which buyer pays seller for property in multiple installments for
predetermined length of time - ✔✔contract for deed
✔✔A tenant does not pay rent on the required day. The landlord sends them a written
notice stating that they must pay the rent within a certain number of business days, or
the landlord will start eviction proceedings.
What is this number of days? - ✔✔3 business days
, ✔✔Oliver is a licensed lawyer in Florida. He has lived in Florida for three years.
Assuming he passes the background check and has his application accepted, what
ELSE must he do to become a licensed sales associate in Florida? - ✔✔excused from
course 1, need to take and pass both state and national portions of exam
✔✔Which answer describes something that:
Does not have to conform to USPAP standards
Is often utilized in the foreclosure process
Is less costly than comparable options - ✔✔BPO
✔✔Petunia, a sales associate, notices that the plumbing system in a home is in very
poor condition. However, during a walkthrough with the buyer, she lies and says, "Oh,
the water pressure is low all over town today. Didn't you see it on the news? By
tomorrow, it'll be fine."
Petunia has committed: - ✔✔fraudulent misrepresentation
✔✔occurs when licensee fails to disclose significant property issues due to ignorance -
✔✔negligent misrepresentation
✔✔In what kind of in-house transaction can there be two parties, each with a licensee
providing fiduciary levels of representation? What would that tell you about the assets
held by the two parties? - ✔✔nonresidential transaction with designated sales
associate, only allowed if parties have assets equal to or in excess of one million dollars
✔✔Broker Blessing is caught in the middle of a buyer's and seller's claims that they
have the right to the escrow money. While the buyer and seller resolve their disputes in
court, Blessing knows she has no claim to the escrow funds. Blessing pursues a(n): -
✔✔litigation
✔✔legal process of resolving a dispute in court that involves an interpleader a
declaratory judgment - ✔✔litigation
✔✔informal negotiation held by an independent third party to settle a dispute such as
conflicting demands - ✔✔mediation
✔✔court procedure meant to resolve dispute when a party holds funds they know they
don't own, but to which multiple other parties lay claim - ✔✔interpleader
✔✔A property owner decides to use a new property management company to manage
the apartment complex she owns. What needs to happen? - ✔✔need to be transferred
with accounting of how much credited to each tenant
AND SOLUTIONS GUARANTEE A+
✔✔Ivan is buying a furnished condo. What type of loan will he need? - ✔✔package
mortgage
✔✔Toni and Karl are married and own a home. It's their primary residence, and they
have homesteaded it. They have two adult children. If Karl dies, who owns the home? -
✔✔no, other inherits property as life estate, kids are remaindermen
✔✔When an agent enters into an agency relationship, despite the fact that no
compensation is offered or paid, they are providing: - ✔✔gratuitous agency
✔✔when actions or words of an individual lead thrid party to believe agency exists
between an individual and the agent (when it doesn't), and neither individual nor agent
takes action to correct impression at time - ✔✔ostensible agency
✔✔Comp 1 is 3,000 sq. ft. and was sold for $300,000. The subject property is 2,800 sq.
ft. If that was the only difference in the properties, using the sales comparison approach,
what would the value of the subject property be? - ✔✔$280000
✔✔Lead based paint disclosure - ✔✔required for residences built prior to 1978
regardless renovations
✔✔Stevie receives an offer for his house. He takes part of that offer and adds new
language. He sends it to the buyer. This revised offer: - ✔✔basically a new offer
✔✔Sales Associate Frank placed escrowed money into his brokerage's operating
expenses account. This is an example of: - ✔✔commingling
✔✔If Manuel is part of an LLP and Shay is part of an unincorporated association, which
of them is eligible to register their business entity as a brokerage? - ✔✔Manuel
✔✔In a contract for deed, what does the buyer receive (until they pay off the entire
loan)? - ✔✔equitable title
✔✔sales contract in which buyer pays seller for property in multiple installments for
predetermined length of time - ✔✔contract for deed
✔✔A tenant does not pay rent on the required day. The landlord sends them a written
notice stating that they must pay the rent within a certain number of business days, or
the landlord will start eviction proceedings.
What is this number of days? - ✔✔3 business days
, ✔✔Oliver is a licensed lawyer in Florida. He has lived in Florida for three years.
Assuming he passes the background check and has his application accepted, what
ELSE must he do to become a licensed sales associate in Florida? - ✔✔excused from
course 1, need to take and pass both state and national portions of exam
✔✔Which answer describes something that:
Does not have to conform to USPAP standards
Is often utilized in the foreclosure process
Is less costly than comparable options - ✔✔BPO
✔✔Petunia, a sales associate, notices that the plumbing system in a home is in very
poor condition. However, during a walkthrough with the buyer, she lies and says, "Oh,
the water pressure is low all over town today. Didn't you see it on the news? By
tomorrow, it'll be fine."
Petunia has committed: - ✔✔fraudulent misrepresentation
✔✔occurs when licensee fails to disclose significant property issues due to ignorance -
✔✔negligent misrepresentation
✔✔In what kind of in-house transaction can there be two parties, each with a licensee
providing fiduciary levels of representation? What would that tell you about the assets
held by the two parties? - ✔✔nonresidential transaction with designated sales
associate, only allowed if parties have assets equal to or in excess of one million dollars
✔✔Broker Blessing is caught in the middle of a buyer's and seller's claims that they
have the right to the escrow money. While the buyer and seller resolve their disputes in
court, Blessing knows she has no claim to the escrow funds. Blessing pursues a(n): -
✔✔litigation
✔✔legal process of resolving a dispute in court that involves an interpleader a
declaratory judgment - ✔✔litigation
✔✔informal negotiation held by an independent third party to settle a dispute such as
conflicting demands - ✔✔mediation
✔✔court procedure meant to resolve dispute when a party holds funds they know they
don't own, but to which multiple other parties lay claim - ✔✔interpleader
✔✔A property owner decides to use a new property management company to manage
the apartment complex she owns. What needs to happen? - ✔✔need to be transferred
with accounting of how much credited to each tenant
