Updated 2025 Review (national)

Someone takes out a loan for $200,000 at a 4% interest rate. What is the interest owed for the first month

A property has an NOI of $50,000 and a market capitalization of 8%

What is the penalty for a first-time violation of the Fair Housing Act by a real estate company

What is the practice of the state taking private property for public use called

Which protected class in NOT explicitly included under the fair housing act

Jacob rents a property and installs a TV for his retail business, what is the TV considered

A home is located near a landfill. Should this information be disclosed

Which of the following is a way to terminate a contract

A seller passes away before closing. What happens to the purchase agreement?

What type of lien is always the highest priority

A buyer submits an offer and the seller counters with new terms. What happens to the original offer

When can a BIC represent both buyer and seller in the same transaction

A property owner transfers ownership of their home to a relative without compensation, what type of deed is likely

A homeowner builds a commercial structure in an area zoned residential what is required to make this legal

A buyer client notices cracks in the foundation during a showing, what is the agent's obligation

A city imposes a halt on a new development to address infrastructure limitations, what is this an example of

How many square feet are in an acre

What is the practice of a lender refusing to provide loans in minority neighborhoods called

What type of estate allows the grantor to regain possession automatically if the grantee violates the conditions

A buyer agree to purchase a home as is but discovers major defects during inspections. what are their options

A buyer acquires property through adverse possession, what is required to make the claim valid

Which of the following loans is an interest only loan

What type of agreement is created when a BIC assigns a second agent to represent a client in the same transaction

A buyer purchases a property and receives a general warranty deed, what assurance is provided

What is the timeframe to file a complaint with HUD for a fair housing act violation

A property disclosure reveals that the home had a termite infestation five years ago, what should the buyer do

Which type of agent has the broadest authority to act on behalf of the principal

A buyer agrees to purchase a home contingent of securing financing with 30 days, what is this clause called

A buyer agent was asked about sex offenders in the area from their client, what is the agents responsibility

A buyer sends their acceptance of an offer via mail, but the seller revokes before receiving it. Is the contract valid?

Who can assume a VA loan

A seller spreads rumors that a certain racial group is moving in and it prompts sales in the are, what's this called

A property manager signs a management contract with a landlord. What is the purpose of this contract

A homeowner builds a fence and later it is found to be on the neighbor's land, what is this called

When can a borrower request PMI payment to be dropped in a conventional loan

What contract states there is a ratified agreement between buyer and seller, however they have no closed yet

Which principle of value is utilized when a surge in property values happens because a new shopping center was announced

What type of contract is created through the actions or conduct of parties

What type of authority allows the agent to make decisions on their client's behalf

What Brokerage Model is most suitable for first time agents who need access to training, marketing and more?

When may an agent disclose a stigma

A rental property has an NOI of $60,000 and a capitalization rate of 8%. What is the value of the property

A buyer discovers environmental hazards on a property after signing an agreement. What is the likely outcome

What type of contract is an option to buy considered

What type of loan is typically used for commercial properties to cover large parcels of land

Which type of REIT focuses on income rather than debt?

House sold for $250,000 and the listing agreement specifies a 6% commission, how much will the agent earn?

What type of loan allows a fixed payment until a certain agreed-upon time & then the borrower will owe a ballon payment

Which type of liability holds agents and subagents equally responsible

Property sold for $500,000. Buyer agrees to put 20% down, How much is the down payment>

Which physical characteristic of land refers to its uniqueness

Which of the following duties are limited in dual agency

If a landowners property expands due to sediment deposits from a nearby river it is called

What supreme court decision upheld the civil rights act of 1866

What type of loan allows a borrow to user their equity

What is a buyer considered if they choose to not establish an agency agreement

What is it called when an agent over exaggerates reality

Which of the following loans explicitly prohibits prepayment penalties

Which of the following is not a characteristic of value

What type of agency agreement can a seller hire only one Agent and possibly retain the right to not pay a commission

Which approach to value is most reliable for single-family homes

What must agents disclose at first substantive contact

What does time is of the essence mean in a contract

What legal concept might ensure someone can access their land if its considered land locked

Is the right of first refusal automatically included in offers/contracts

Which of the following is not an essential element of a valid contract

A tenant refuses to vacate a property of the lease expires, what is this called

What principle of value states a buyer notices a property price higher than a similar property and will not pay more

How much is a married couple who files their taxes separately, exempt up to for capital gains

A property is valued at $300,000 and the annual tax rate is 2%. What is the annual property tax

A buyer and seller agree to amend the closing date. What document formalizes this change

Who is the principal in real estate transactions

Which bundle of legal rights allows you to assign or sublet your rights

What regulation requires the closing disclosure should be given to the buyer within three business days of closing

How must agency agreements be expressed in most states