Practice test

Free Real Estate Practice Test

Take our free real estate practice test with 20 questions covering principles, contracts, agency, and finance. Instant scoring with answer explanations.

These questions are for study practice only and are not official exam questions.

Question 1

1

Earnest money deposited by a buyer is typically held by:

Question 2

2

Which type of deed offers the GREATEST protection to the grantee?

Question 3

3

A lender charges a 1% loan origination fee on a $320,000 loan and requires 1.5 discount points. What is the total upfront cost of these two charges?

Question 4

4

For a real estate sales contract to be legally enforceable, it must be in writing under which law?

Question 5

5

A real estate agent has just signed a listing agreement with a seller. The agent's PRIMARY fiduciary duty runs to:

Question 6

6

Which listing agreement gives ONE broker the exclusive right to sell, meaning the broker earns a commission even if the owner finds the buyer personally?

Question 7

7

Which clause in a purchase contract allows a buyer to withdraw without penalty if they cannot obtain financing at specified terms?

Question 8

8

A borrower has a $400,000 loan at 7.5% annual interest. What is the interest for the first month, and what portion of a $2,797 monthly payment reduces principal?

Question 9

9

A seller accepts a buyer's offer but changes the sales price before signing and initials the change. The buyer has not agreed to the price change. What has the seller created?

Question 10

10

A dual agent represents both the buyer and the seller in the same transaction. Which of the following BEST describes the agent's situation?

Question 11

11

If a buyer defaults on a purchase contract after the inspection period, the seller typically has the right to:

Question 12

12

An agent discovers that a home has a leaking underground storage tank on the property. The seller has not disclosed this. What should the agent do?

Question 13

13

Loan-to-value ratio (LTV) is calculated as:

Question 14

14

A deed transfers title from the grantor to the grantee. Which of the following must a valid deed contain?

Question 15

15

An easement appurtenant benefits:

Question 16

16

A developer's property is subject to a deed restriction prohibiting commercial use. The government later zones the area commercial. Which control takes precedence?

Question 17

17

One discount point paid at closing is equal to:

Question 18

18

Which federal law requires lenders to disclose the Annual Percentage Rate (APR) to borrowers?

Question 19

19

Two siblings inherit a property and each holds an undivided interest with no right of survivorship. This form of co-ownership is called:

Question 20

20

A property owner has the right to use her land, sell it, lease it, or give it away. Together, these rights are commonly called the:

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