2023 Edition

Real Estate Agent Practice Test

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.

For all 350 Questions with complete sections check out the Real Estate Agent License Practice Exam - it will help you pass your State Real Estate Agent License Exam the first time.  The Real Estate Broker Practice Exam is also available.  Also available: California Real Estate Practice Exam and the Florida Real Estate Practice Exam.

1. As a seller's agent, you sell a house for $135,000. The selling price includes a six percent commission rate that your brokerage charges. The buyer's agent will get half the commission. What is your portion of the commission?
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?
3. The presence of lead paint in a home must only be disclosed if the home is being purchased using an FHA loan.
4. Of the many expenses involved with owning a house, which of the following are tax-deductible?
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5. The monthly net income on an investment of $115,000 if the rate of return is 12 ½ percent is _____________.
6. You sell a home for a client where the down payment was $30,000 with a loan of $125,000 at 3.7% interest with a term of 30 years fixed. The mortgagor's monthly payment is $1,219. What is the loan to value ratio?
7. You can only legally receive a commission from your employer.
8. Two managing brokers from different brokerage got together to play golf. During their private round of golf, the two brokers quietly decided to that the commission rates for the two brokerage firms should match. This is an example of:
9. The Real Estate Settlement Procedure Act (RESPA) applies to what types of real estate transactions?
10. For a deed to be valid, it must be:
11. An agent, broker or lender who is "blockbusting" is trying to scare owners in a neighborhood into selling their property.
12. A buyer is applying for an ARM loan. Do the payments on this type of loan product change?
13. How much time must a prospective borrower be given to review the Closing Disclosure?
14. A major institutional lender discriminates against certain prospective borrowers based solely upon their homes being located in depressed neighborhoods. The lender does this by giving no consideration to either the condition of the specific property or the creditworthiness of the prospective borrower. What is the name of this illegal activity?
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?
16. A homeowner has a mortgage with a fixed interest rate. Under what circumstances would her payments change?
17. A seller and a broker enter into a written listing agreement for the seller's 2-unit dwelling. The broker is authorized to advertise, stage, and solicit offers on the property. The broker's duties also include advising the seller as to the advantages and disadvantages of offers received. However, the broker cannot accept an offer and bind the seller. This is an example of what type of agency?
18. Which of the following is protected by the federal Fair Housing Act?
19. A mortgagee's policy of title insurance is valid until:
20.  A valid contract must contain which of the following elements?
21. Who can legally appraise a residential property when the purchase is being financed with an FHA-insured loan?
22. A basic owner's title insurance policy will cover all of the following except ________________.
23. What must a homeowner in foreclosure do to exercise his right of redemption?
24. Which of the following types of mortgages will probably have the lowest initial interest rate?
25. A woman who owns a parcel of real estate in severalty wants her son to have the property, but only after she dies. Which of the following choices is correct and will accomplish her wishes?

Quality starts with who wrote the material.
Our practice exam writer
Kimberly Trimmel

Kimberly is a licensed real estate broker in Illinois and a real estate instructor with the Real Estate Institute. She is a certfied instructor with the National Association of Realtors. She has worked as a broker with Century 21, Coldwell Banker and Keller Williams and was formerly the Director of Professinal Standards with the Chicago Association of Realtors.
Our material is specific to the Illinois Real Estate Broker Exam, covering both the National and State sections with these content areas: 
  • Property Ownership
  • Land Use Regulations
  • Laws of Agency
  • Fiduciary Duties  
  • Property Valuation
  • Financial Analysis   
  • Financing
  • Transfer of Property
  • Disclosures
  • Real Estate Practice
  • Contracts
  • and more...