Free Real Estate Practice Exam | ADHI Schools

ADHI SCHOOLS
REAL ESTATE PRACTICE TEST

Sharpen Your Real Estate Mind!

Think you've got a grasp of real estate? Test your knowledge of key real estate principles with our short 9-question quiz. See how well you understand the fundamentals!

Real Estate Principles

    A homeowner's deluxe five-bedroom house is in a neighborhood of modest three-bedroom houses. The value of the five-bedroom house will be affected because of the principle of ?

    a. substitution.
    b. scarcity.
    c. progression.
    d. regression.

    An independent contractor is distinguished by ?

    a. responsibility for Social Security and other payments.
    b. no flexibility in setting work hours.
    c. little control over work methods.
    d. no legal obligation to employer.

    An agency agreement to perform an act that requires a writing ?

    a. must itself be in writing.
    b. may be oral or written.
    c. cannot be an express agreement.
    d. violates the statute of frauds.

Real Estate Practice

    Which listing would you be LEAST likely to advertise? ?

    a. Nonresidential property
    b. An open listing
    c. An exclusive-agency listing
    d. An exclusive-right-to-sell listing

    The term farming as used in real estate refers to ?

    a. determining what your market area will be.
    b. operation by season, such as a listing season, open house season, selling season, and so forth.
    c. specialization in a particular field of real estate activity.
    d. working or prospecting a geographic area or special interest area for buyers and sellers.

    An owner tells you that Agent Jones told her she could get far more for her home than your CMA indicates. What is your BEST response? ?

    a. "Many unethical agents will promise the moon to get listings and then fail to perform."
    b. "I am willing to take the listing at that price, but if we don't attract buyers we will reevaluate the price."
    c. "I don't believe it. No agent who knows the market would set a price that high."
    d. "I think my comparative market analysis covers all recent comparables and clearly shows the market value. May I please look at the comparative market analysis that Agent Jones prepared for you?"

Legal Aspects Of Real Estate

    In selling a commercial property, an agent's duty to the buyer includes ?

    a. informing the buyer of the results of a reasonably competent and diligent visual inspection.
    b. informing the buyer that the zoning is not appropriate for the intended use.
    c. telling the buyer the reason the seller is selling.
    d. all of these.

    A legal agency requires that ?

    a. the agent have the capacity to contract.
    b. consideration flow from the principal to the agent.
    c. all agency duties be stated in writing.
    d. the parties consent to the agency.

    Public reports expire ?

    a. five years from the date of the first sale.
    b. five years from the date of the last sale.
    c. five years from the date of issuance.
    d. one year after issuance.

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"Hey guys,

I took the exam today and passed!!!!
It only took me one try which was one of my goals. I took the online
classes and follow your suggestions so I took the crash course,
used the crash course app a lot, took 7 mock tests and went
confident to present the exam. Thank you for the great job you are
doing, you guys are awesome!!!! May God continue to bless you!"

Willie V.