Real estate licensing practice exam

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Many ARM loans start at a lower interest rate than the fixed-rate mortgage. Then, following this introductory period, the interest rate is tied to changes in an economic index and can either rise or fall.

A, B, and C are incorrect because they are all fixed rate mortgage loans. After the woman dies, her debts will be paid and assets distributed through the probate court. To alienate means to convey. A deed that has been delivered and accepted would result in an immediate transfer of the real estate from the woman to her son. When a parcel of real estate is owned in severalty, there are no other owners to consult.

Test-Taking Tip: One person, one corporation, one governmental entity, one trust, one partnership can all own real estate in severalty. As long as there is only one owner, that is an estate in severalty. Prev Next Finish. Bookmark Page. 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? None of the above. The zoning laws in your town require an apartment building to provide two and a half parking spaces for every 1, square feet of inhabited space.

A local apartment building has 20, square feet of apartments. How many parking spaces should it have? The presence of lead paint in a home must only be disclosed if the home is being purchased using an FHA loan. Of the many expenses involved with owning a house, which of the following are tax-deductible?

Property taxes. Both a and c. What is the loan to value ratio? You can only legally receive a commission from your employer. 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:. Legal behavior permitted in a free market economy. Illegal behavior under the Sherman Antitrust Act. Illegal discrimination under federal fair housing laws.

Prohibited by the Statute of Frauds. All cash sales. Sales invovling seller financing. Federally related mortgage loans. All of the above. Other exempt loans include: commercial loans, business loans, land contracts, and loans for land tracts of 25 or more acres, etc Incorrect answer.

For a deed to be valid, it must be:. Signed by the grantor. Signed by the grantee. Recorded at the state level. An agent, broker or lender who is "blockbusting" is trying to scare owners in a neighborhood into selling their property. A buyer is applying for an ARM loan. Do the payments on this type of loan product change?

They stay the same over the course of the loan. The interest rate changes annually, either raising or lowering the payment. The interest rate goes up every year. The interest rate goes down every year. How much time must a prospective borrower be given to review the Closing Disclosure? One week before closing. 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? Silent records. Air loans. Backward applications. You are trying to price a property. What is the rough value of this property? A homeowner has a mortgage with a fixed interest rate. Under what circumstances would her payments change? None; the payment will not change over the life of the loan.

The property taxes go up or down. The cost of homeowner's insurance goes up or down. Either b or c. The broker is authorized to advertise, stage, and solicit offers on the property.

However, the broker cannot accept an offer and bind the seller. This is an example of what type of agency? Special agency. General agency. Implied agency. Dual agency. Which of the following is protected by the federal Fair Housing Act? Marital Status. Some of our students studied over 20 hours and did not pass while others indicated that they put in less than 3 hours.

With our program, you will pass after you can complete all the modules. The average length of time needed is 1 hour per day for 20 days. What are your goals? We have hundreds of emails every year asking us this question.

If your goal is just to learn about real estate, you can do that for free on Google and YouTube. We only recommend getting your real estate license if your goal is to sell real estate. State License instructions. State Specific Exam Information. Exam Provider. State Authority.

Practice Exam. License Instructions. Alabama Real Estate Commission. Pearson Vue. Alaska Real Estate Commission. Arizona Department Of Real Estate. Arkansas Real Estate Commission. California Department Of Real Estate. Colorado Division Of Real Estate.

Connecticut Department Of Consumer Protection. Delaware Division Of Professional Regulation. Florida Real Estate Practice Exam.

Georgia Real Estate Commission. Hawaii Real Estate Commission. Idaho Real Estate Commission. Indiana Real Estate Commission. Iowa Professional Licensing Bureau. Kansas Real Estate Commission. Kentucky Real Estate Commission. Louisiana Real Estate Commission. Maryland Real Estate Commission. Massachusetts Board Of Real Estate. Minnesota Commerce Department.

Mississippi Real Estate Commission. Missouri Real Estate Commission. New Hampshire. New Jersey. New Jersey Real Estate Commission. New Mexico. New York.

North Carolina. North Carolina Real Estate Commission. Below are some example passing scores. Check the exact score requirements for your state here. How many questions are on the Real Estate Licensing Exam? All states have their own test. Check your state for specific information. In general, you should expect your real estate licensing exam to be around multiple choice questions; about state-specific questions, and about questions related to generally universal real estate concepts.

What is the best way to study for the Real Estate Licensing Exam? Before you qualify to take the exam , you will be required to take a number of hours of prelicensure classes. This curriculum is meant to help prepare you for your state-specific exam, so make sure you keep these materials and continue to study them after the course has been completed.

Beyond that, it is absolutely vital that you use all available free real estate practice exams and study resources available online. You can find a comprehensive list of free real estate practice exams, sample questions, study guides, flashcards, and more resources linked above. Is the Real Estate Licensing Exam multiple choice?

In general, you should expect state-specific multiple choice questions, and around multiple choice questions on general real estate concepts.

The test is usually given in two sections and candidates are expected to pass both sections. What score is needed to pass the real estate licensing exam? State No. How much does it cost to get your real estate license? Back Praxis Other Education.

Home Career Real Estate Exam. See our free sample tests for the latest actual real estate exam questions and answers. Summary: Take a free real estate practice exam below and see how you do.

Free Real Estate Practice Exams. It is the most comprehensive course we looked at. Study Stack. Disclaimer : We may earn a commission when you buy through some links on our site. About Test-Guide Test-Guide. Follow us. Ad Code. Real Estate Exam Flashcards. Real Estate Exam Study Guide. Real Estate Vocab Flashcards. Real Estate Study Flashcards. Alabama Real Estate Commission. Candidate Handbook. Alaska Real Estate Commission. Arizona Department of Real Estate.

Arkansas Real Estate Commission. Colorado Division of Real Estate.