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

    The homestead exemption for a homeowner who is a member of a family unit is at LEAST ?

    a. $175000
    b. $150000
    c. $125000
    d. $100000

    An architectural style in which homes share a common wall is called ?

    a. a Colonial American house.
    b. a Queen Anne Victorian house.
    c. a Spanish house.
    d. a town house.

    A good floor plan has ?

    a. the kitchen near the garage.
    b. bedrooms near living areas.
    c. one bathroom for every three bedrooms.
    d. no closets in the bedrooms, to conserve space.

Real Estate Practice

    An agent sold a property where the owner had verbally agreed to pay a commission. The agent would be legally entitled to a commission from the owner for the sale if the agent had ?

    a. relied on the verbal promise.
    b. made a written memorandum of the agreement signed by the agent.
    c. obtained a valid buyer listing agreement.
    d. none of the above.

    The MOST difficult tax to avoid is the ?

    a. sales tax.
    b. real property tax.
    c. income tax.
    d. estate tax.

    What does the term logo refer to? ?

    a. Your firm name
    b. An identifying design or symbol
    c. Length of gross opportunity, which refers to the time span of attention generated by an ad
    d. None of these

Legal Aspects Of Real Estate

    An undisclosed agent breached a contract with a third party. Which of the following is a TRUE statement as to liability for the breach? ?

    a. The agent could be held personally liable.
    b. The principal could be held liable.
    c. The agent and the principal would be jointly liable.
    d. Both a and b are correct.

    A valid listing agreement must contain which stipulation? ?

    a. The preprinted rate of commission
    b. A hold-harmless clause
    c. Specific reference to the subject matter of the listing
    d. The right of either party to cancel upon notice

    Riparian rights can BEST be described as ?

    a. the absolute right to adjacent water.
    b. reasonable use of flowing water.
    c. reasonable use of nonadjacent water.
    d. reasonable use of nonflowing water.