100+ Free Real Estate Practice Exam Questions (December 2022)

National Real Estate Exam

1 / 100

What is a one-of-a-kind contract that is solely between the seller and the buyer. In this arrangement, the seller gives the buyer the option to purchase property at a given price for a set period?

2 / 100

Which of the following would not be considered real property?

3 / 100

A bilateral contract is one in which

4 / 100

When talking about business and professional ethics, as a licensed real estate agent, it is important to make sure:

5 / 100

Earnest money should be deposited into a trust account:

6 / 100

Usually, the appraiser is hired by the:

7 / 100

Which of the following real estate contract clauses is typically seen in blanket mortgages and allows for the freeing of all or part of a property from a claim through a proportional or full amount of the mortgage being paid off?

8 / 100

Joint tenants with a right of survivorship means

9 / 100

The amount borrowed is called the:

10 / 100

A real estate agent advertised a home for $250,000. When a Chinese couple asked the agent for the price of the house. The agent told them the seller wanted $260,000 instead. Under the federal Fair Housing Act of 1968, such a statement is

11 / 100

When calculating the amount of real estate taxes owed, calculations are based on what type of value?

12 / 100

Choose the best answer. Which of the following is an example of a Special Use property?

13 / 100

Complete the following statement. The rescission of a contract occurs when:

14 / 100

Which of the following statements does NOT correctly describe a fiduciary?

15 / 100

Under the terms in a mortgage, the lender must be paid in full if the property is sold to another person. This is known as the

16 / 100

Find the annual GRM. A 9-unit building in Cleveland Ohio, with an asking price of $500,000 and gross annual rents of $75,000.

17 / 100

Which of the following would NOT apply to the income approach in the valuation process?

18 / 100

What best describes an agent hired to perform a specific duty?

19 / 100

Which of the following would not be considered appurtenant?

20 / 100

When you buy real property, you gain several different kinds of rights. One of which are rights called "subsurface rights." What are subsurface rights?

21 / 100

An example of economic obsolescence in real estate is

22 / 100

During the listing agreement a commission of 6% is established. The house is sold for $250,000. What is the commission?

23 / 100

Johnny is purchasing a house and does not want to purchase all of the furniture that is being left behind. He signs the contract on Tuesday, and on Thursday changes his mind about the furniture. He calls his agent, and they add the furniture to the contract. What is this an example of?

24 / 100

The Bundle of Rights include:

25 / 100

Generally speaking, what is the most common type of contingency?

26 / 100

What is the difference between void and voidable contracts? Choose the best answer.

27 / 100

Even after an offer has been accepted and signed (by all parties), the buyer and seller may still choose to sign mutual release papers rather than proceed to closing. Which of the following circumstances would NOT give either party a justifiable reason to insist on a mutual release?

28 / 100

Under the Federal Fair Housing Law, which of the following is considered discriminatory advertising?

29 / 100

Fee packing, equity stripping, and balloon payment abuses are all examples of what?

30 / 100

What best describes an agency relationship where an agent has legal authority to act on behalf of the principal?

31 / 100

What is Ginnie Mae’s primary responsibility?

32 / 100

Any loss in the value of a property over time from any cause.

33 / 100

After paying off a loan, the lender files what to release the lien?

34 / 100

An appraiser has been hired to prepare an appraisal report of a property for loan purposes. The property is a 25-year-old strip mall. To which approach to value should the appraiser give the greatest weight when making this appraisal?

35 / 100

Brokerages and real estate agents across America connect using a

36 / 100

Appraiser Leo was hired to prepare a feasibility study for a 12-unit apartment complex in which the owner is considering putting in a swimming pool. Which basic principle of appraising should Leo use?

37 / 100

What specific formula would be used to estimate the value of a property using the income approach?

38 / 100

Commingling is the opposite of what?

39 / 100

Which of the following fits the description? "A mortgage loan available for military service members, veterans, and eligible surviving spouses; which often comes with better terms than a traditional mortgage."

40 / 100

What form of legal land description uses a plat map?

41 / 100

The fact that land has a number of important uses is the basis for what essential element of value?

42 / 100

If a buyer refuses to go ahead with a purchase of property which he has signed a contract, what usually happens to the earnest money?

43 / 100

Philip has a contract with his neighbor Jessica for lawn service. Philip can no longer mow the lawn due to an ankle injury. Paul, Jessica's other neighbor, agrees to carry out the terms of Philips contract. In order to do this, Jessica must substitute Philip's name with Pauls on the contract. What is this an example of?

44 / 100

Liquidated damage is most likely to be found in which of the following documents?

45 / 100

This approach determines what the property generates in profit for it’s owner or potential owner.

46 / 100

Puffing is a term referring to

47 / 100

As a listing agent, what obligations do you owe to an unrepresented buyer?

48 / 100

What is it called when parties have fully performed the terms of a contract?

49 / 100

A property owner enters into a listing agreement with an agent. The seller obtains a buyer for the house, but the agent receives a commission. The listing agreement between the agent and the property owner was probably

50 / 100

When, if all, can an executed contract be assigned?

51 / 100

Assuming there are no extra fees, and the broker is representing the buyer and the seller, what was the final sales price of a property if the commission rate was 5.5% and the broker received $11,000.

52 / 100

A couple owns an older home in a neighborhood that is becoming a commercial area. Because of the change in the use of the land, the couple can expect the value of their parcel to increase at some future time. This is an example of the principle of

53 / 100

When you buy real property, you gain several different kinds of rights. One of which are rights called "surface rights." What are surface rights?

54 / 100

If a seller rejects a written offer made by a buyer, changes the terms of the offer, and has the new offer delivered to the buyer, it is considered what?

55 / 100

A parcel of real property that has an easement over another piece of property is best described as:

56 / 100

Requires public accommodations to remove barriers in existing buildings such as adding braille markings to elevator buttons, is a requirement of which law?

57 / 100

Which of the following is a private land-use control?

58 / 100

A contract that legally binds two or more parties together, to specific obligations, that create a legally binding contract between the buyer and the seller.

59 / 100

A mortgagor is also known as the:

60 / 100

Which of the following is a physical characteristic of real estate?

61 / 100

A non licensed buyer negotiated the purchase of a house. During a conversation with the seller, the seller agreed to include both the washer and the dryer, in the sale, and this was included in the sales contract. In this situation, if the seller takes the appliances, what recourse (if any) does the buyer have?

62 / 100

Which of the following consumers would most likely qualify and be able to derive the most benefit from a reverse mortgage?

63 / 100

What type of court handles the analysis and transfer of real estate or general estate assets of a deceased person (without a will)?

64 / 100

Under a lease for a commercial property, a tenant agrees to pay $3,000 per month plus 4% of the gross monthly sales. This type of lease is called a:

65 / 100

When contracting parties have signed a contract and both parties have done all they promised to do, it is called this:

66 / 100

The Civil Rights Act of 1866 prohibits discrimination in real estate based on:

67 / 100

A lease agreement where the tenant has the right to buy the property within a specified period of time is called what?

68 / 100

Which of the following best describes a balloon payment?

69 / 100

During a standard residential transaction, verifying ingress and egress rights is an essential part of the:

70 / 100

The best way to determine fair value.

71 / 100

What is the total quantity that buyers are willing to buy at a given time at certain prices?

72 / 100

Which action is legal as a real estate agent? (Antitrust Laws)

73 / 100

Which term refers to the packaging of a number of mortgage loans for sale in the secondary mortgage market by a financial institution or mortgage banker who originated the loans?

74 / 100

What is the document that defines the relationship between the broker and the seller?

75 / 100

A legal way to dissolve the relationship when the parties don't voluntarily agree to its termination is called

76 / 100

Which business structure traditionally features a board of directors?

77 / 100

Which of the following fiduciary duties continues after a listing agreement expires?

78 / 100

Which type of property would an appraisal use a depth table to estimate the property value?

79 / 100

The deed that offers the grantee the most protection. With this type of deed, the grantor makes a series of legally binding promises (called covenants) and warranties to the grantee agreeing to protect the grantee against any prior claims and demands of all persons whomsoever in regards to the conveyed land.

80 / 100

A property's market value is $400,000. The assessment rate for the house is 25% with 22.75 mills and a $25,000 property tax deduction. Find the annual property taxes.

81 / 100

A tenant rented an apartment, signing a 16-month lease. After the lease expired, the tenant paid 1 month's rent and got a receipt. What kind of type of lease does the tenant have?

82 / 100

What is radioactive gas dispersed from natural decay of mineral in earth (odorless, colorless, tasteless)?

83 / 100

Choose the best answer. A lawsuit for inverse condemnation may be brought by:

84 / 100

A tenant rented an apartment, signing a 12-month lease. After the lease expired, the tenant paid 1 month's rent and got a receipt. What kind of leasehold does the tenant have?

85 / 100

Generally speaking, what happens when the supply of available houses in an area decreases significantly?

86 / 100

What is the act of mixing the client’s funds with the broker’s own funds? This can be both legal and illegal depending on the state and circumstance.

87 / 100

Tenants by the Entirety and Community Property both generally pertain to

88 / 100

Which of the following are the main participants in real estate markets?

89 / 100

An example of functional obsolescence in real estate is

90 / 100

What is an item on a property that is installed by the tenant, and is related to the tenant's business classified as?

91 / 100

There are three different main approaches that appraisers use while they make an appraisal. What are they?

92 / 100

In real estate, a deed is best defined as:

93 / 100

An appurtenant easement has several ways of legal termination. Which of the following is NOT a valid way to terminate an easement?

94 / 100

Antitrust laws prohibit competing brokers from all of the following except:

95 / 100

In the appraisal of a building constructed in the 1930s, the cost approach would be the least accurate method because of difficulties in

96 / 100

The increase of value with the passage of time is best described as:

97 / 100

Who or what determines the amount of an earnest money deposit?

98 / 100

Tina and Tom are two unmarried individuals who own property with equal interests and without a right to survivorship. Which of the following forms of ownership would Tina and Tom most likely have?

99 / 100

The ability to buy and sell is also known as what essential element of value?

100 / 100

Which of the following would generally constitute an antitrust violation?

Your score is

Need state practice? Click on the buttons below for a free state real estate practice exam

Welcome to the National Real Estate Practice Exam

This free practice exam is here to help you master the national portion of the real estate exam. Our real estate practice exam pulls from a large pool of questions, so you can expect a different study experience each time you take it.

Don’t forget to read the explanations so you fully understand the question. At the very end of each exam, there is a recap of the questions you got right or wrong, which is also very helpful to look at.

We also have detailed state-specific practice exams located down below, along with an extensive math practice exam.

Keep scrolling for more! Have fun, study hard, and reach out if you have any questions,

Real Estate License Wizard Team


Real Estate Exam Practice Questions and Answers


State Specific Information and Practice Exams

StateState License instructionsExam ProviderState AuthorityPractice Exam
AlabamaAL License InstructionsPSIAlabama Real Estate Commission Official WebsiteAlabama Real Estate Practice Exam
AlaskaAK License InstructionsPearson VueAlaska Real Estate Commission Official Website
ArizonaAZ License InstructionsPearson VueArizona Real Estate Commission Official Website
ArkansasAR License InstructionsPearson VueArkansas Real Estate Commission Official WebsiteArkansas Real Estate Practice Exam
CaliforniaCA License InstructionsStateCalifornia Real Estate Commission Official WebsiteCalifornia Real Estate Practice Exam
ColoradoCO License InstructionsPSIColorado Real Estate Agency Official WebsiteColorado Real Estate Practice Exam
ConnecticutCT License InstructionsPSIConnecticut State Real Estate Official WebsiteConnecticut Real Estate Practice Exam
DelawareDE License InstructionsPearson VueDelaware Real Estate Commission Official WebsiteDelaware Real Estate Practice Exam
FloridaFL License InstructionsPearson VueFlorida Department of Real Estate Official WebsiteFlorida Real Estate Practice Exam
GeorgiaGA License InstructionsPSIGeorgia Real Estate Commission Official WebsiteGeorgia Real Estate Practice Exam
HawaiiHI License InstructionsPSIHawaii Real Estate Department Official WebsiteHawaii Real Estate Practice Exam
IdahoID License InstructionsPearson VueIdaho Real Estate Commission Official WebsiteIdaho Real Estate Practice Exam
IllinoisIL License InstructionsPSIIllinois Real Estate Division Official WebsiteIllinois Real Estate Practice Exam
IndianaIN License InstructionsPSIIndiana Real Estate Commission Official Website
IowaIA License InstructionsPSIIowa Real Estate Bureau Official WebsiteIowa Real Estate Practice Exam
KansasKS License InstructionsPearson VueKansas Real Estate Commission Official WebsiteKansas Real Estate Practice Exam
KentuckyKY License InstructionsPSIKentucky Real Estate Commission Official WebsiteKentucky Real Estate Practice Exam
LouisianaLA License InstructionsPSILouisiana Real Estate Commission Official Website
MaineME License InstructionsPearson VueMaine Real Estate Commission Official WebsiteMaine Real Estate Practice Exam
MarylandMD License InstructionsPSIMaryland Real Estate Commission Official WebsiteMaryland Real Estate Practice Exam
MassachusettsMA License InstructionsPSIMassachusetts ePLACE Portal Real Estate Official WebsiteMassachusetts Real Estate Practice Exam
MichiganMI License InstructionsPSIMichigan Real Estate Department Official WebsiteMichigan Real Estate Practice Exam
MinnesotaMN License InstructionsPearson VueMinnesota Real Estate License Department Official Website
MississippiMS License InstructionsPSIMississippi Real Estate Commission Official WebsiteMississippi Real Estate Practice Exam
MissouriMO License InstructionsPSIMissouri Real Estate Commission Official WebsiteMissouri Real Estate Practice Exam
MontanaMT License InstructionsPSIMontana Real Estate Commission Official Website Montana Real Estate Practice Exam
NebraskaNE License InstructionsPearson VueNebraska Real Estate Commission Official Website
NevadaNV License InstructionsPSINevada Real Estate Commission Official WebsiteNevada Real Estate Practice Exam
New HampshireNH License InstructionsPSINew Hampshire Estate Commission Official WebsiteNew Hampshire Real Estate Practice Exam
New JerseyNJ License InstructionsPSINew Jersey Real Estate Commission Official WebsiteNew Jersey Real Estate Practice Exam
New MexicoNM License InstructionsPSINew Mexico Estate Commission Official WebsiteNew Mexico Real Estate Practice Exam
New YorkNY License InstructionsStateNew York Division of License Services Official WebsiteNew York Real Estate Practice Exam
North CarolinaNC License InstructionsPSINorth Carolina Real Estate Commission Official WebsiteNorth Carolina Real Estate Practice Exam
North DakotaND License InstructionsPSINorth Dakota Real Estate Commission Official Website
OhioOH License InstructionsStateOhio Department of Real Estate Official WebsiteOhio Real Estate Practice Exam
OklahomaOK License InstructionsPSIOklahoma Real Estate Commission Official Website
OregonOR License InstructionsPSIOregon Real Estate Commission Official Website
PennsylvaniaPA License InstructionsPSIPennsylvania Real Estate Commission Official WebsitePennsylvania Real Estate Practice Exam
Rhode IslandRI License InstructionsPearson VueRhode Island Real Estate Commission Official WebsiteRhode Island Real Estate Practice Exam
South CarolinaSC License InstructionsPSISouth Carolina Real Estate Commission Official WebsiteSouth Carolina Real Estate Practice Exam
South DakotaSD License InstructionsPSISouth Dakota Real Estate Commission Official Website
TennesseeTN License InstructionsPSITennessee Department of Commerce and Real Estate Official WebsiteTennessee Real Estate Practice Exam
TexasTX License InstructionsPearson VueTexas Real Estate Commission Official WebsiteTexas Real Estate Practice Exam
UtahUT License InstructionsPearson VueUtah Division of Real Estate Official WebsiteUtah Real Estate Practice Exam
VermontVT License InstructionsPSIVermont Real Estate Official Website
VirginiaVA License InstructionsPSIVirginia Real Estate Board Official WebsiteVirginia Real Estate Practice Exam
WashingtonWA License InstructionsPSIWashington Real Estate License Department Official Website
West VirginiaWV License InstructionsPSIWest Virginia Real Estate Commission Official WebsiteWest Virginia Real Estate Practice Exam
WisconsinWI License InstructionsPearson VueWisconsin Department Professional Services and Real Estate Official Website
WyomingWY License InstructionsPSIWyoming Real Estate Commission Official Website

Real Estate Exam FAQ’s

If you are new to all of this, don’t worry, we gotcha covered. The real estate exam can be scary at first, but you can conquer the real estate exam with the right study materials. Have a question about the real estate exam? Find the answers to all your real estate license questions here:

What Is on the Real Estate Exam?

The real estate license exam is divided into two parts: the national and your specific state portions.

The real estate exam is mainly multiple-choice and is a mix of problem-solving, math, and vocabulary. By far, the most substantial chunk of the real estate license exam is the vocabulary.

The key concepts and words you have to study are essential for obtaining your real estate license, so you must learn and become familiarized with them. Here are what topics you are expected to know:

Property Ownership

Land Use Controls and Regulations

Property Disclosures

  • Property condition
  • Property disclosures
  • Environmental issues requiring disclosure
  • Government disclosure requirements (LEAD)
  • Material facts and defect disclosure

General Principles of Agency

Financing

  • Basic concepts and terminology
  • Types of loans and real estate transactions
  • Financing and lending
  • Lending process application through closing
  • Financing and credit laws and rules
  • Down payment vs monthly payment
  • RESPA, Equal Credit Opportunity, and Truth in Lending Act
  • Underwriting

Leasing and Property Management

  • Basic concepts/duties of property management
  • Lease agreements
  • Types of leases
  • Landlord and tenant rights and obligations
  • Property manager’s fiduciary responsibilities
  • ADA and Fair Housing compliance in property management

Contracts

Transfer of Title

Practice of Real Estate

Real Estate Calculations

  • Basic math concepts
  • Calculations for transactions
  • Calculations for valuation, rate of return

Is There Math on the Real Estate Exam?

It depends. For a full explanation, check out this video on real estate math:


How to Become a Real Estate Agent in Your State

Real estate license requirements vary from state to state. Here are the general real estate license requirements that apply to all:

  • All states require a high school diploma or G.E.D equivalent.
  • All states require U.S citizenship and proof of state-specific residency.
  • All states require up to date forms of government-approved I.D (driver’s license, U.S. Passport, birth certificate). Anything expired will NOT be accepted at the test-taking site.
  • Many states require a background check or submission of fingerprints. Normally if a background check is required so is the submission of fingerprints although they are usually handled at the same time and do not require additional steps.
  • Some but not all states require proof of errors and omissions insurance.
  • Must complete required state approved pre-licensing courses.
  • Must pass state administered real estate exam.
  • Must pay state mandated real estate agent fees.

For specifics look at our full guide on Real Estate License Requirements by State.

More Exam FAQs

How Hard is the Real Estate Exam?

The real estate exam is a rigorous and challenging test that weeds out those who are not committed to being skilled agents. 

Passing the real estate exam takes more than completing any pre-licensing course. It takes massive preparation. The good news is that there are a lot of tools out there to help with passing the real estate exam.

How Many Questions Are on the Real Estate Exam?

The number of questions on the real estate exam depends on which state you are taking the exam in.

Usually, the exam varies between 80-100 national questions and 30-50 state-specific ones, but each state is different. You’ll need a 60-75% or better, depending on your state.

How Many Questions Can You Miss on the Real Estate Exam?

You can miss 15 to 30% percent of the questions in most states and still pass the exam. Again, it varies per state, so check out our state requirements page for more detailed information.

How Long is the Real Estate Exam?

The length of the real estate exam varies from about 1.5 hours to 3.5 hours again, based on the state you’re in. 

Who Administers the Real Estate Exam?

Real estate exams are administered at hundreds of locations across the United States, depending on where you live. Likely, your real estate exam will be issued by one of the following two nationwide testing organizations:

  • PSI Online or AMP
  • Pearson Vue

You can schedule your test at one of the appropriate testing centers once you have completed your state-mandated pre-licensing and are qualified to take the exam. 


More Free Real Estate Exam Resources

Below we put together a complete list of extra free study resources in hopes that you can pass your real estate exam the first time. If you know of any additional free resources that we can add to this list, please email us and let us know.

Real Estate Exam Study Groups

Have you ever heard of Reddit? It’s essentially a massive collection of forums where people can share news, content, and a bunch of other stuff. Well, there is a subreddit or particular section of Reddit dedicated to the real estate exam.

Click the link here or head to Reddit and search for the real estate exam to find the forum. The subreddit or forum should show up. Once you’re there, you can post any exam-related question you may have or answer other people’s questions too. As of writing this, it looks like they have over 2,100 members!

If you’re not into Reddit, we also have our own study group located on Facebook. You can check that out right here.

We highly encourage you to join these groups and talk to other test takers. Remember, we’re all in this together. The best way to pass is to use all the resources available to you. Sometimes people forget there are hundreds of others in the same boat. Never feel alone!

We have almost everything real estate related, and yes, that includes real estate exam prep videos. Here is a quick list we put together of some of our top real estate exam prep videos and playlists:

Real Estate Exam Prep Videos

In this playlist, study specific real estate concepts you need to know for the real estate exam. Learn about property rights, contract clauses, government powers, agency relationships, and so much more.

One of the most essential parts of the real estate exam is vocabulary. Watch these videos to review critical real estate terms that will appear on the real estate exam. This playlist covers 255 real estate vocab terms.

Want to practice real estate exam questions every day; this is the perfect playlist for you. Time this up with when your exam is scheduled, and practice an exam question every day.

Crash courses are a fantastic way to study for the real estate exam. Some include real estate practice exams and interactive real estate exam prep. If that sounds good, check out these crash courses:


Want Real Estate Exam Prep?

Between our real estate prep course, real estate practice exams, and video lessons – there is no better way to prepare for your real estate exam.

We’ve seen our students get results time and time again so we’re proud to stand behind our content. Your satisfaction is important to us, which is why we offer a no questions asked 30-day money back guarantee.

We’ve helped thousands of people pass the real estate exam and get their real estate license. Ready to get started?