REAL ESTATE FINAL EXAM
REAL ESTATE FINAL EXAM NEWEST 2025 ACTUAL EXAM
COMPLETE QUESTIONS AND CORRECT ANSWERS(VERIFIED
ANSWERS)|ALREADY GRADED A+
Carolyn is representing John in the sale of his home. Which listing agreement clause gives her
additional authority and obligates her to distribute the listing to other brokers?
a. Broadcast clause
b. Broker extension clause
c. Marketability clause
d. Multiple listing clause - ANSWER-d. Multiple listing clause
_______ are artificial attachments to land that include items such as fencing, buildings, and
walkways.
a. Emblements
b. Encroachments
c. Improvements
d. Levies - ANSWER-c. Improvements
Violators of the Sherman Antitrust Act may be subject to fines. For what amount may
corporations and individuals be liable?
a. Up to $100,000 for corporations and $1,000 for individuals
b. Up to $100 million for corporations and $1 million for individuals
c. Up to $10 million for corporations and $1 million for individuals
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d. Up to $1 million for corporations and $100,000 for individuals - ANSWER-b. Up to $100
million for corporations and $1 million for individuals
What happens to a joint tenant's share of property when the joint tenant dies?
a. The joint tenant's interest goes to the remaining joint tenants. If only one joint tenant is left,
that joint tenant owns the property in severalty.
b. The property must be sold, with the proceeds from the joint tenant's share distributed to
heirs.
c. The tenancy remains, but the joint tenant's interest passes to heirs.
d. The tenancy terminates, and the joint tenant's share goes to the state. - ANSWER-a. The joint
tenant's interest goes to the remaining joint tenants. If only one joint tenant is left, that joint
tenant owns the property in severalty.
You helped Frasier buy his penthouse condo. He's just received the keys and you two have said
your goodbyes after closing, and you're heading back to the office to close out the transaction
file. Which of your fiduciary duties continue?
a. Accounting and loyalty
b. Confidentiality and accounting
c. Confidentiality, loyalty, and accounting
d. Reasonable skill and care, confidentiality, and loyalty - ANSWER-b. Confidentiality and
accounting
Loyalty doesn't survive agency termination, because you may end up representing the opposite
side in a future transaction. But confidentiality and accounting survive agency termination.
When licensee Linda asks potential seller clients about their reasons for selling, what's her
purpose?
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a. To create a data set about typical seller characteristics
b. To develop a rapport with the customer
c. To help her determine a suggested listing price
d. To help her gauge the seller's motivation as part of her qualifying process - ANSWER-d. To
help her gauge the seller's motivation as part of her qualifying process
Which act gives companies the right to sue a competitor for making deceptive ad claims?
a. The Gramm-Bliley Act
b. The Lanham Act
c. The Privacy Act
d. The Truth in Advertising Act - ANSWER-b. The Lanham Act
When does the licensee's duty of confidentiality to the client end?
a. Never
b. When the brokerage agreement terminates
c. When the client becomes incapacitated or dies
d. When the representation agreement expires - ANSWER-a. Never
In the conveyance of real property after death, what trumps any terms specified in the
deceased person's will?
a. Heirs' wishes
b. Intestate
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c. Nothing
d. Operation of law - ANSWER-d. Operation of law
In Illinois, when must licensees obtain consent for dual agency representation?
a. As the situation arises
b. Before entering into a dual agency transaction.
c. In the first face-to-face meeting with a potential client
d. Prior to entering into a contract for a specific transaction - ANSWER-b. Before entering into a
dual agency transaction.
Which agency duties survive termination of an agreement?
a. Accounting and loyalty
b. Confidentiality and accounting
c. Confidentiality, loyalty, and accounting
d. Reasonable skill and care, confidentiality, and loyalty - ANSWER-b. Confidentiality and
accounting
With regard to contingencies, what responsibility does licensee Wanda have when representing
buyers?
a. She should avoid contingencies altogether because they tend to put sellers off.
b. She should maximize the number of contingencies used to avoid being sued.
c. She should use a standard set of contingencies with each buyer.
d. She should use contingencies judiciously to protect her clients and the deal. - ANSWER-d. She
should use contingencies judiciously to protect her clients and the deal.
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REAL ESTATE FINAL EXAM NEWEST 2025 ACTUAL EXAM
COMPLETE QUESTIONS AND CORRECT ANSWERS(VERIFIED
ANSWERS)|ALREADY GRADED A+
Carolyn is representing John in the sale of his home. Which listing agreement clause gives her
additional authority and obligates her to distribute the listing to other brokers?
a. Broadcast clause
b. Broker extension clause
c. Marketability clause
d. Multiple listing clause - ANSWER-d. Multiple listing clause
_______ are artificial attachments to land that include items such as fencing, buildings, and
walkways.
a. Emblements
b. Encroachments
c. Improvements
d. Levies - ANSWER-c. Improvements
Violators of the Sherman Antitrust Act may be subject to fines. For what amount may
corporations and individuals be liable?
a. Up to $100,000 for corporations and $1,000 for individuals
b. Up to $100 million for corporations and $1 million for individuals
c. Up to $10 million for corporations and $1 million for individuals
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, REAL ESTATE FINAL EXAM
d. Up to $1 million for corporations and $100,000 for individuals - ANSWER-b. Up to $100
million for corporations and $1 million for individuals
What happens to a joint tenant's share of property when the joint tenant dies?
a. The joint tenant's interest goes to the remaining joint tenants. If only one joint tenant is left,
that joint tenant owns the property in severalty.
b. The property must be sold, with the proceeds from the joint tenant's share distributed to
heirs.
c. The tenancy remains, but the joint tenant's interest passes to heirs.
d. The tenancy terminates, and the joint tenant's share goes to the state. - ANSWER-a. The joint
tenant's interest goes to the remaining joint tenants. If only one joint tenant is left, that joint
tenant owns the property in severalty.
You helped Frasier buy his penthouse condo. He's just received the keys and you two have said
your goodbyes after closing, and you're heading back to the office to close out the transaction
file. Which of your fiduciary duties continue?
a. Accounting and loyalty
b. Confidentiality and accounting
c. Confidentiality, loyalty, and accounting
d. Reasonable skill and care, confidentiality, and loyalty - ANSWER-b. Confidentiality and
accounting
Loyalty doesn't survive agency termination, because you may end up representing the opposite
side in a future transaction. But confidentiality and accounting survive agency termination.
When licensee Linda asks potential seller clients about their reasons for selling, what's her
purpose?
2|Page
, REAL ESTATE FINAL EXAM
a. To create a data set about typical seller characteristics
b. To develop a rapport with the customer
c. To help her determine a suggested listing price
d. To help her gauge the seller's motivation as part of her qualifying process - ANSWER-d. To
help her gauge the seller's motivation as part of her qualifying process
Which act gives companies the right to sue a competitor for making deceptive ad claims?
a. The Gramm-Bliley Act
b. The Lanham Act
c. The Privacy Act
d. The Truth in Advertising Act - ANSWER-b. The Lanham Act
When does the licensee's duty of confidentiality to the client end?
a. Never
b. When the brokerage agreement terminates
c. When the client becomes incapacitated or dies
d. When the representation agreement expires - ANSWER-a. Never
In the conveyance of real property after death, what trumps any terms specified in the
deceased person's will?
a. Heirs' wishes
b. Intestate
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, REAL ESTATE FINAL EXAM
c. Nothing
d. Operation of law - ANSWER-d. Operation of law
In Illinois, when must licensees obtain consent for dual agency representation?
a. As the situation arises
b. Before entering into a dual agency transaction.
c. In the first face-to-face meeting with a potential client
d. Prior to entering into a contract for a specific transaction - ANSWER-b. Before entering into a
dual agency transaction.
Which agency duties survive termination of an agreement?
a. Accounting and loyalty
b. Confidentiality and accounting
c. Confidentiality, loyalty, and accounting
d. Reasonable skill and care, confidentiality, and loyalty - ANSWER-b. Confidentiality and
accounting
With regard to contingencies, what responsibility does licensee Wanda have when representing
buyers?
a. She should avoid contingencies altogether because they tend to put sellers off.
b. She should maximize the number of contingencies used to avoid being sued.
c. She should use a standard set of contingencies with each buyer.
d. She should use contingencies judiciously to protect her clients and the deal. - ANSWER-d. She
should use contingencies judiciously to protect her clients and the deal.
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