Idea Transcript
Real Estate Agent Test Real Estate Agent Practice Test Real Estate Agent Test Guide Real Estate Agent Certification Real Estate Agent Practice Exam Real Estate Agent Flash Cards
Real Estate Agent Practice Test
LOGIN
Search by Keyword
2018 EDITION
Take this free practice test to see how prepared you are for a real estate agent certifying exam. All states require real estate agents to be licensed by the state to engage in the sale of real estate. The tests cover such subjects as forms of ownership, physical descriptions, valuation and regulation. Test Mode Study Mode 1. You sell a house for $135,000. The selling price includes the standard six percent commission rate your brokerage charges. What is your portion of the commission? a. $4,050 b. $8,100 c. $2,025 d. None of the above 2. The zoning laws in your town require an apartment building to provide two and a half parking spaces for every 1,000 square feet of inhabited space. A local apartment building has 20,000 square feet of apartments. How many parking spaces should it have? a. 40 b. 50 c. 45
Real estate sales agents must be licensed in every state, and licensure is generally earned with the successful completion of an exam. Licensure is granted by the state’s real estate commission or real estate department. To learn more about licensing and testing, see our Real Estate Agent Test Guide. Real Estate Agent Licensing Guides by State:
d. 55 3. The presence of lead paint in a home must only be disclosed if the home is being purchased using an FHA loan.
AL Real Estate Agent Exam AK Real Estate Agent Exam AZ Real Estate Agent Exam
True
AR Real Estate Agent Exam
False
CA Real Estate Agent Exam CO Real Estate Agent Exam
4. Of the many expenses involved with owning a house, which of the following are tax-deductible?
CT Real Estate Agent Exam DE Real Estate Agent Exam
a. Taxes
FL Real Estate Agent Exam
b. Insurance
GA Real Estate Agent Exam HI Real Estate Agent Exam
c. Interest
ID Real Estate Agent Exam
d. Both a and c
IL Real Estate Agent Exam IN Real Estate Agent Exam IA Real Estate Agent Exam KS Real Estate Agent Exam
5. The monthly net income on an investment of $115,000 if the rate of return is 12 ½ percent is _____________.
KY Real Estate Agent Exam LA Real Estate Agent Exam ME Real Estate Agent Exam
a. $1,150.00
MD Real Estate Agent Exam
b. $7,666.67
MA Real Estate Agent Exam MI Real Estate Agent Exam
c. $1,197.92
MN Real Estate Agent Exam
d. $14,375.00
MS Real Estate Agent Exam MO Real Estate Agent Exam MT Real Estate Agent Exam
6. You sell a home for a client and the client receives $32,800 in cash after she pays off her mortgage. The mortgage payoff amount was $80,000. The client paid six percent in commissions. What did you sell the house for?
NE Real Estate Agent Exam NV Real Estate Agent Exam NH Real Estate Agent Exam NJ Real Estate Agent Exam
a. $112,800
NM Real Estate Agent Exam
b. $120,000
NY Real Estate Agent Exam NC Real Estate Agent Exam
c. $126,000
ND Real Estate Agent Exam
d. $127,200
OH Real Estate Agent Exam
7. You can only legally receive a commission from your employer. True
OK Real Estate Agent Exam OR Real Estate Agent Exam PA Real Estate Agent Exam
False
RI Real Estate Agent Exam
8. An offer comes in on a house you are listing, but it does not have an escrow check. What should you do? a. Give the offer to your client.
SC Real Estate Agent Exam SD Real Estate Agent Exam TN Real Estate Agent Exam TX Real Estate Agent Exam
b. Call the buyer's agent and tell him you need an escrow check or you can not submit the offer to your client.
UT Real Estate Agent Exam
c. Give the offer to your client, but suggest that she make a counteroffer and ask for an escrow check.
VA Real Estate Agent Exam
d. Any of the above.
WV Real Estate Agent Exam
9. The Real Estate Settlement Procedure Act (RESPA) applies to what types of real estate transactions? a. All cash sales
VT Real Estate Agent Exam WA Real Estate Agent Exam WI Real Estate Agent Exam WY Real Estate Agent Exam
Like 3
b. Sales invovling seller financing
Share
Bookmark Page
c. Federally related mortgage loans d. Sales involving rental agreements e. All of the above. 10. If a deed is valid it must be: a. Signed b. Recorded c. Witnessed d. All of the above. e. Both a and c 11. An agent, broker or lender who is "blockbusting" is trying to scare owners in a neighborhood into selling their property. True False 12. A buyer is applying for an ARM loan. How do the payments on such a loan change? a. They stay the same over the course of the loan. b. The interest rate changes every year, which can raise or lower the total payment. c. The interest rate goes up every year. d. The interest rate goes down every year. 13. How much time must the parties to a real estate closing be given to review the HUD statement? a. One hour before closing b. One day before closing c. Three days before closing d. One week before closing 14. Which of the following is considered a good balance between the supply of and demand for apartments? a. 5 percent vacancy b. 10 percent vacancy c. 7 percent vacancy d. 2 percent vacancy 15. You are trying to price a property. Five years ago it was sold for $125,000, but property values in this particular neighborhood have decreased by an average of 5 percent since then. What is the rough value of this property? a. $117,500 b. $118,750 c. $118,000 d. $119,000 16. A homeowner has a mortgage with a fixed interest rate. Under what circumstances would her payments change? a. None; the payment will not change over the life of the loan. b. The property taxes go up or down. c. The cost of homeowner's insurance goes up or down. d. Either b or c. 17. It is legal for you to work for more than one broker at a time, as long as you disclose any conflicts of interest. True False 18. Which of the following types of discrimination are prohibited by the Fair Housing Act of 1968? a. Behavior b. Age c. Marital Status d. Number of children 19. You receive an offer on a listing and an escrow check. Your client accepts the offer. What should you do with the escrow check? a. Turn it over to your broker as soon as possible. b. Deposit it into the broker's account. c. Keep it and write a check to your broker. d. Put it in the file and hold it until the closing. 20. A valid real estate contract must contain which of the following elements? a. Competency b. An offer and an acceptance c. A "legal object", i.e., a property d. All of the above. 21. You can only appraise a listing if you are a certified appraiser, unless it is a residential property and you are appraising it for listing purposes only. True False 22. A basic owner's title insurance policy will cover all of the following except ________________. a. Incorrect signatures on documents b. Encumbrances and judgments c. Building permit violations d. Defective recordation 23. What must a homeowner in foreclosure do to exercise his right of redemption? a. Pay the entire mortgage b. Pay the entire mortgage, plus interest c. Pay the entire mortgage, plus court costs and legal fees d. Pay the entire mortgage, plus court costs, legal fees and interest 24. Which of the following types of mortgages will probably have the lowest initial interest rate? a. Conventional 30-year fixed rate b. 30-year fixed rate FHA loan c. Conventional 15-year fixed rate d. Conventional 30-year ARM 25. A woman is deeding her mortgage-free house to her son. Is the deed required to show "good consideration" to be valid in this case? a. Yes, because all deeds must show good consideration to be valid. b. No, because family transfers are exempt from the law. c. Yes, unless she is deeding it to him in her will. d. No, because the house does not have a mortgage and there is no lien holder involved.
Score My Practice Test
About Us | Contact | Terms of Sale / Refunds
Copyright © 2009-2017 Tests.com LLC - All Rights Reserved Terms of Use / Privacy