2021 Version

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.
 

1. As a seller's agent, you sell a house for $135,000. The selling price includes the standard six percent commission rate 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. An offer comes in on a house you are listing, but it does not have an escrow check. What should you do?
9. The Real Estate Settlement Procedure Act (RESPA) applies to what types of real estate transactions?
10. If a deed is 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. How do the payments on such a loan change?
13. How much time must the parties to a real estate closing be given to review the HUD statement?
14. Which of the following is considered a good balance between the supply of and demand for apartments?
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. It is legal for you to work for more than one broker at a time, as long as you disclose any conflicts of interest.
18. Which of the following types of discrimination are prohibited by the Fair Housing Act of 1968?
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?
20. A valid real estate contract must contain which of the following elements?
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.
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 is deeding her mortgage-free house to her son. Is the deed required to show "good consideration" to be valid in this case?

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Quality starts with who wrote the material.
Our practice exam writer
s
:
Karen Bohler
is a licensed real estate broker and certified real estate instructor. She has worked in real estate sales for over 20 years. She teaches real estate sales and contract law for a real estate sales education company that specializes in the licensing of real estate sales agents and brokers across the country. Karen designs curriculum and other educational materials for real estate sales training courses, licensing exam preparation and continuing education providers. She earned her juris doctorate degree from Taft Law School.


Tabitha May Hasin
is a real estate instructor with Brightwood College (formerly Kaplan Real Estate Education) and a real estate salesperson and trainer with Keller Williams Realty in Fullerton, California. She is also a licensed attorney and received her juris doctorate from Chapman University Law School. Prior to working as a real estate instructor, Tabitha worked in the lender, title and settlement services industries in real estate transactions. She earned her bachelor and masters degrees from the University of California, Irvine.
Our practice exam covers the general principles of real estate law and regulation that is common across the country and is not specific to any one state.  It covers all of the following areas which are typically covered in most state Real Estate Agent examinations:
  • Real Property Characteristics    
  • Real Property Rights
  • Freehold Estates            
  • Real Estate Ownership
  • Land Description            
  • Non-monetary Encumbrances
  • Government Restrictions
  • Real Property Liens
  • Agency
  • Real Estate Brokerage
  • Listings and Buyer Agency Agreements
  • Contract Law    
  • Transfer of Title             
  • Financing Principles
  • Property Management 
  • Leases 
  • Appraisal
  • Investment Analysis      
  • Real Property Environmental Issues      
  • Settlement
  • Federal Laws