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NATIONAL REAL ESTATE EXAM PRACTICE
TEST-ACTUAL QUESTIONS WITH VERIFIED
SOLUTIONS 2026
In most cases, broker compensation, as a percentage of home price, falls
somewhere between: - correct-answer -5-7%
A Christian organization owns a fourplex. It wants to rent to only Christian tenants.
Under the federal Fair Housing Act, is this legal? - correct-answer -Yes. Religious
organizations which rent to tenants for residential purposes are exempt from the
Fair Housing Act
What happens to trade fixtures after a business moves out of a leased property? -
correct-answer -The tenant removes their trade fixtures and takes them upon
moving out.
Suppose that a borrower has a gross monthly income of $3,000 and wants to
qualify for a conforming loan (total debt service ratio of 36%) with a monthly PITI
payment of $800. What is the maximum amount of additional long-term
obligations this borrower may have after PITI? - correct-answer -$280
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A square bedroom measures 10 feet by 10 feet. What is the area of the room? -
correct-answer -100 square feet
Which of these is an economic characteristic that makes land a distinctive
commodity?* - correct-answer -situs
In a fixed-rate mortgage that is fully amortized, the total amount of interest to be
paid is: - correct-answer -predetermined
Which is exempt from the federal Fair Housing Act? - correct-answer -renting a
room in a house occupied by the owner
The Americans with Disabilities Act applies to: - correct-answer -privately owned
or government-owned public accommodations
Condemnation is the act of seizing private property from citizens. What gives the
government the right to do this? - correct-answer -eminent domain
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The PHYSICAL characteristics of land are that land is indestructible, non-
homogenous, and: - correct-answer -immobile
Which statement BEST defines the term contingency? - correct-answer -
stipulation that must be satisfied before the contract can be performed
If a borrower is behind on payments, the acceleration clause gives the lender the
ability to: - correct-answer -call the entire loan balance due immediately
A metes and bounds legal description always returns to: - correct-answer -the
point of beginning
What should a license holder do if a client instructs them to do something that
would discriminate against a protected class? - correct-answer -advise the client
they cannot legally discriminate against certain groups
What is a novation? - correct-answer -the substitution of one contract for another
NATIONAL REAL ESTATE EXAM PRACTICE
TEST-ACTUAL QUESTIONS WITH VERIFIED
SOLUTIONS 2026
In most cases, broker compensation, as a percentage of home price, falls
somewhere between: - correct-answer -5-7%
A Christian organization owns a fourplex. It wants to rent to only Christian tenants.
Under the federal Fair Housing Act, is this legal? - correct-answer -Yes. Religious
organizations which rent to tenants for residential purposes are exempt from the
Fair Housing Act
What happens to trade fixtures after a business moves out of a leased property? -
correct-answer -The tenant removes their trade fixtures and takes them upon
moving out.
Suppose that a borrower has a gross monthly income of $3,000 and wants to
qualify for a conforming loan (total debt service ratio of 36%) with a monthly PITI
payment of $800. What is the maximum amount of additional long-term
obligations this borrower may have after PITI? - correct-answer -$280
,2|Page
A square bedroom measures 10 feet by 10 feet. What is the area of the room? -
correct-answer -100 square feet
Which of these is an economic characteristic that makes land a distinctive
commodity?* - correct-answer -situs
In a fixed-rate mortgage that is fully amortized, the total amount of interest to be
paid is: - correct-answer -predetermined
Which is exempt from the federal Fair Housing Act? - correct-answer -renting a
room in a house occupied by the owner
The Americans with Disabilities Act applies to: - correct-answer -privately owned
or government-owned public accommodations
Condemnation is the act of seizing private property from citizens. What gives the
government the right to do this? - correct-answer -eminent domain
, 3|Page
The PHYSICAL characteristics of land are that land is indestructible, non-
homogenous, and: - correct-answer -immobile
Which statement BEST defines the term contingency? - correct-answer -
stipulation that must be satisfied before the contract can be performed
If a borrower is behind on payments, the acceleration clause gives the lender the
ability to: - correct-answer -call the entire loan balance due immediately
A metes and bounds legal description always returns to: - correct-answer -the
point of beginning
What should a license holder do if a client instructs them to do something that
would discriminate against a protected class? - correct-answer -advise the client
they cannot legally discriminate against certain groups
What is a novation? - correct-answer -the substitution of one contract for another
