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ASREB SCHOOL EXAM QUESTIONS AND ANSWERS
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ASREB SCHOOL EXAM QUESTIONS AND ANSWERS 
 
When a tenant moves out of a rental unit due to an electrical fire that was not their fault this would be called? 
Constructive eviction 
A property manager is considered what type of agent? 
General agent 
If a dwelling is damaged or destroyed by fire how many days must the tenant give the landlord to terminate the rental agreement? 
14 
A real estate broker is normally what type of agent? 
Special 
A broker's duty to a third party would be: 
Honesty 
...
ASREB Practice Exam Questions With 100% Correct Answers.
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ASREB Test Questions and Answers Already Passed
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ASREB Test Questions and Answers 
 
Already Passed 
 
"Plants and trees cultivated for harvest" best describes: Fructus industrales 
 
A "finder fee" is best described as A credit to a residential tenant 
 
A borrower applying for a FHA loan would be required to: Pay a mortgage insurance 
premium 
 
A borrower is required to put 10% down for the purchase of a property. The 10% down would be 
considered... Equity 
 
A broker has what duty to a third party? full disclosure of all material fact...
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ASREB Test with 100% Correct Solutions
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ASREB Test with 100% Correct Solutions 
A borrower is required to put 10% down for the purchase of a property. The 10% down 
would be considered... - Correct Answer ️️ -Equity 
A broker, acting as a property manager, would be considered what type of agent? - 
Correct Answer ️️ -General 
A contract has been signed, but title has not yet been passed. The contract is... - 
Correct Answer ️️ -Executory 
A house cost $100,000. The buyer is making a down payment of 32,000 and getting a 
$6...
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ASREB Exam Questions with 100% Correct Solutions
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ASREB Exam Questions with 100% Correct Solutions 
Salesperson is working for a principal, but the salesperson exceeds authority in 
agreement. Principal does nothing to correct the actions, and the public is led to believe 
the actions were okay. Agency? - Correct Answer ️️ -Estoppel 
Amount stated in a purchase contract in case the buyer breaches is called: - Correct 
Answer ️️ -Liquidated 
In a sublease with a positive leasehold who benefits from excess rent? - Correct Answer ️️ 
-...
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ASREB Practice Exam, Sessions 1-18, Study Guide Questions Correctly Answered And Graded A+
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ASREB Practice Exam, Sessions 1-18, Study Guide Questions Correctly Answered And Graded A+
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ASREB Practice Exam, Sessions 1-18, Study Guide Questions Correctly Answered And Graded A+
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ASREB Practice Exam, Sessions 1-18, Study Guide Questions Correctly Answered And Graded A+ 
 
ASREB 
A 3.45-acre lot sells for 50 cents per square foot. What is the selling price? 
 
A) $37,570 
B) $75,141 
C) $76,230 
D) $78,712 
B 
 
3.45 acres x 43,560 = 150,282 SF 
150,282 SF x $0.50 = $75,141 
A blind ad refers to an ad that 
 
A) provides no price. 
B) provides no address. 
C) gives no indication that the property is listed with a broker. 
D) gives no indication that the property has bene ...
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ASREB Test Questions and Answers with complete solution
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A borrower is required to put 10% down for the purchase of a property. The 10% down would be 
considered... - Answer-Equity 
A broker, acting as a property manager, would be considered what type of agent? - Answer-General 
A contract has been signed, but title has not yet been passed. The contract is... - Answer-Executory 
A house cost $100,000. The buyer is making a down payment of 32,000 and getting a $68,000 loan. If 
there are 4 points, how much money will be paid out of the closing for poin...
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ASREB Exam Questions and Answers with complete solution
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Salesperson is working for a principal, but the salesperson exceeds authority in agreement. Principal 
does nothing to correct the actions, and the public is led to believe the actions were okay. Agency? - 
Answer-Estoppel 
Amount stated in a purchase contract in case the buyer breaches is called: - Answer-Liquidated 
In a sublease with a positive leasehold who benefits from excess rent? - Answer-Sub-lessor 
Property taxes are 1,525. 1st half paid by seller closes November 2nd - Answer-512.57 De...
![ASREB Exam Practice Questions and Answers](/docpics/5478393/665780ad6a7e8_5478393_121_171.jpeg)
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ASREB Exam Practice Questions and Answers
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ASREB Exam Practice Questions and Answers 
types of loans - Correct Answer ️️ -FHA loan, Conventional loan, VA loan 
FHA loan - Correct Answer ️️ -MIP (Mortgage Insurance Premium) 
Two types (Upfront and Monthly) 
Conventional loan - Correct Answer ️️ -PMI (Private Mortgage Insurance) 
Drops off automatically at 78% loan to value (LTV) 
Ask for removal at 80% loan to value 
VA Loan - Correct Answer ️️ -Funding Fee based on value 
USDA loan - Correct Answer ️️ -loan is zero do...
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