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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
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:
- Real vs personal property
- Bundle of rights
- Land characteristics and legal descriptions
- Types of legal descriptions: rectangular survey system, and metes and bounds
- Mineral rights, air rights, and water rights
- Encumbrances or liens
- Title theory vs lien theory
- Types of easements: easement in gross, prescriptive easements, and easement by necessity
- Dominant vs servient estate
- Ingress, egress, and encroachment
- Appurtenances and fixtures
- Types of ownerships: freehold estates and leasehold estates
- Tenancy in common vs joint tenancy
Land Use Controls and Regulations
- Government power and police power
- Property taxes and special assessments
- Eminent domain, condemnation, and escheat
- Government controls: zoning, master plans, and building codes
- Regulation of special land types and environmental hazards
- Private controls: deed conditions or restrictions (CC&Rs)
- Homeowners association regulations
Valuation and Market Analysis
- Appraisals: purpose, use, and general steps in the appraisal process
- Depreciation: functional obsolescence, economic obsolescence, and physical deterioration
- Effect of economic principles and property characteristics
- Market data approach
- Cost approach
- Income approach
- Property condition
- Property disclosures
- Environmental issues requiring disclosure
- Government disclosure requirements (LEAD)
- Material facts and defect disclosure
General Principles of Agency
- Agency and non-agency relationships
- Seller’s agent vs buyer’s agent
- Attorney-in-fact and power of attorney
- Dual agency
- Creation, termination, and disclosure of agency agreements
- 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
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
- General knowledge of contract law
- Elements of a valid real estate contract
- Void, voidable, and unenforceable contracts
- Executory and executed contracts
- Implied contracts
- Option contracts
- Notice, delivery, and acceptance of contracts
- Breach of contract and remedies for breach
- Termination, rescission, and cancellation of contracts
- Bilateral vs. unilateral contracts
- Contract clauses
- Amendments and addendums
- Real estate novation
- Offers, purchase agreements, counteroffers, and multiple offers
Transfer of Title
- Title vs deeds
- Color of title
- Types of deeds
- Equitable title
- Closing and proration
- Debits and credits
- Estimating closing costs, property, income, and taxes
- Foreclosure, short sales, and warranties
- Adverse possession
Practice of Real Estate
- Management of trust or escrow accounts
- Federal fair housing laws and the ADA
- Antitrust laws
- Antitrust violations: steering, blockbusting, and redlining
- Blind advertising
- Puffing vs fraud
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.
- Real Estate Exam Vocabulary Part One
- Real Estate Exam Vocabulary Part Two
- Real Estate Exam Vocabulary Part Three
- Real Estate Exam Vocabulary Part Four
- Real Estate Exam Vocabulary Part Five
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.
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