Arkansas Real Estate Exam ACTUAL
QUESTIONS AND CORRECT ANSWERS
Homeowner Dean owns the Northwestern 1/2 of the Northwestern 1/2 of the Northeastern
1/4 of the southwestern 1/4 of the south western 1/4 of section 31. how many acres is that
property?
A. 5 acres
B. 10 acres
C. 80 acres
D. 2.5 acres - CORRECT ANSWERS✅✅2 x 2 x 4 x 4 x 4= 256
640/256= 2.5
D. 2.5 acres
Seller Gareth is certain there are no clouds on his property's title. What type of deed should
he provide buyers to show his assurance of title?
A. Special
B. Quitclaim
C. General warranty
D. Permanent - CORRECT ANSWERS✅✅C. General warranty
Licensee chad works for broker Michael. Licensee Chad has a listing agreement with seller
Ray. Licensee Chad decided to transfer brokers. what will most likely happen with chad's
listing?
A. It will stay with Michael's brokerage
B. It will be automatically terminated
C. It will go with chad
D. It will be transfer to an unbiased brokerage - CORRECT ANSWERS✅✅A. It will stay
with Michael's brokerage
,A power of sale clause is required for
A. deed in lieu
B. a non-judicial foreclosure
C. a judicial foreclosure
D. a temporary foreclosure - CORRECT ANSWERS✅✅B. a non-judicial foreclosure
Good springs has a tax base of $90,000,000 and a budget of $1,100,000. What is the tax rate
in terms of mills?
A. 12.2 mills
B. 1.2 mills
C. 8.2 mills
D. 2.1 mills - CORRECT ANSWERS✅✅1,100,00/90,000,000 = .0122
A. 12.2 mills.
Marylin and Andy live together and are co-owners of a property but are not married. what is
the most likely form of co-ownership for marylin and Andy?
A. Tenancy by the entireties
B. United tenancy
C. Partnership tenancy
D. Tenancy in common - CORRECT ANSWERS✅✅D. Tenancy in common
Agent Emily's listing was sold by another agent in her brokerage.Emily is entitled to a
A. Selling side commission
B. neutral party commission
C. equal party commission
, D. listing side commission - CORRECT ANSWERS✅✅B. neutral party commission
In construction, the term "pitch" refers to
A. the type of flooring used.
B. the slop of the roof.
C. a type of frame construction.
D. the type of piping used. - CORRECT ANSWERS✅✅B. the slop of the roof.
A buyer will receive a water bill for an estimated $30 at the end of the month. at closing, the
seller has used an estimated $24 of the water. What should appear on the closing statement?
A. Credit the seller for $6, debit the buyer for $6
B. Credit the seller for $6, debit the buyer for $24
C. Credit the buyer for $6, debit the seller for $24
D. Credit the buyer for $24, debit the seller for $24 - CORRECT ANSWERS✅✅D. Credit
the buyer for $24, debit the seller for $24
what is the term for the loss of value of an improvement due to functional inadequacies, often
caused by age or poor design?
A. Chronological obsolescence
B. Economic obsolescence
C. Environmental obsolescence
D. Functional obsolescence - CORRECT ANSWERS✅✅D. Functional obsolescence
In Arkansas, the requirement of a criminal background check
A. is required for broker applicants only.
B. includes fingerprinting.
C. is conducted by the department of homeland security.
QUESTIONS AND CORRECT ANSWERS
Homeowner Dean owns the Northwestern 1/2 of the Northwestern 1/2 of the Northeastern
1/4 of the southwestern 1/4 of the south western 1/4 of section 31. how many acres is that
property?
A. 5 acres
B. 10 acres
C. 80 acres
D. 2.5 acres - CORRECT ANSWERS✅✅2 x 2 x 4 x 4 x 4= 256
640/256= 2.5
D. 2.5 acres
Seller Gareth is certain there are no clouds on his property's title. What type of deed should
he provide buyers to show his assurance of title?
A. Special
B. Quitclaim
C. General warranty
D. Permanent - CORRECT ANSWERS✅✅C. General warranty
Licensee chad works for broker Michael. Licensee Chad has a listing agreement with seller
Ray. Licensee Chad decided to transfer brokers. what will most likely happen with chad's
listing?
A. It will stay with Michael's brokerage
B. It will be automatically terminated
C. It will go with chad
D. It will be transfer to an unbiased brokerage - CORRECT ANSWERS✅✅A. It will stay
with Michael's brokerage
,A power of sale clause is required for
A. deed in lieu
B. a non-judicial foreclosure
C. a judicial foreclosure
D. a temporary foreclosure - CORRECT ANSWERS✅✅B. a non-judicial foreclosure
Good springs has a tax base of $90,000,000 and a budget of $1,100,000. What is the tax rate
in terms of mills?
A. 12.2 mills
B. 1.2 mills
C. 8.2 mills
D. 2.1 mills - CORRECT ANSWERS✅✅1,100,00/90,000,000 = .0122
A. 12.2 mills.
Marylin and Andy live together and are co-owners of a property but are not married. what is
the most likely form of co-ownership for marylin and Andy?
A. Tenancy by the entireties
B. United tenancy
C. Partnership tenancy
D. Tenancy in common - CORRECT ANSWERS✅✅D. Tenancy in common
Agent Emily's listing was sold by another agent in her brokerage.Emily is entitled to a
A. Selling side commission
B. neutral party commission
C. equal party commission
, D. listing side commission - CORRECT ANSWERS✅✅B. neutral party commission
In construction, the term "pitch" refers to
A. the type of flooring used.
B. the slop of the roof.
C. a type of frame construction.
D. the type of piping used. - CORRECT ANSWERS✅✅B. the slop of the roof.
A buyer will receive a water bill for an estimated $30 at the end of the month. at closing, the
seller has used an estimated $24 of the water. What should appear on the closing statement?
A. Credit the seller for $6, debit the buyer for $6
B. Credit the seller for $6, debit the buyer for $24
C. Credit the buyer for $6, debit the seller for $24
D. Credit the buyer for $24, debit the seller for $24 - CORRECT ANSWERS✅✅D. Credit
the buyer for $24, debit the seller for $24
what is the term for the loss of value of an improvement due to functional inadequacies, often
caused by age or poor design?
A. Chronological obsolescence
B. Economic obsolescence
C. Environmental obsolescence
D. Functional obsolescence - CORRECT ANSWERS✅✅D. Functional obsolescence
In Arkansas, the requirement of a criminal background check
A. is required for broker applicants only.
B. includes fingerprinting.
C. is conducted by the department of homeland security.
