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Real Estate Practice Exam Questions & Answers 2025.docx
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Real Estate Practice Exam Questions &Answers 2025
1. Brokerage definition... - Correct Answers ✅✅the business
practice of bringing together the parties in a practice.
2. What are two examples of special use property? - Correct Answers
✅✅schools and cemetary
3. What is an example of functional obsolescence? - Correct Answers
✅✅bathroom
4. Principal definition... - Correct Answers ✅✅a consumer of real
estate services who has entered into an agency relationship with a
broker or another licensee employed by a broker.
5. Capitalization definition... - Correct Answers ✅✅the process of
determining the present value of a property from it's future income.
6. What is the salespersons obligation to a buyer under single agency
listing? - Correct Answers ✅✅Inform the buyer
8. All are examples of real estate except... - Correct Answers
✅✅factories
, Real Estate Practice Exam Questions &
Answers 2025
9. What is homeowners insurance? - Correct Answers
✅✅Insurance to protect owners from fires and other etc.
10. Special agent definition... - Correct Answers ✅✅the type of
agency in which the principal authorizes the agent to represent the
agent in "one specific transaction or business activity"
11. Which is not used to determine cost approach to estimate value?
-Quantity Survey Method
-Unit-in-Place Method
-Square Foot Method
-Gross Rent Multiplier Method - Correct Answers ✅✅Gross Rent
Multiplier Method
What is steering? - Correct Answers ✅✅the unlawful act of
keeping a buyer away from certain communities or guiding them to
purchase in certain communities.
15. Entitlement to commission when transaction is not consummated. -
Correct Answers ✅✅Except when listing broker does not disclose
information
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