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 contract Haji Ababe accepted states a purchase price "as appraised on May 12, 2016, by Mike Morton, MAI." Based on this provision, the contract is ?

    a. void.
    b. voidable.
    c. unenforceable.
    d. enforceable.

    The upper limit of a property's value usually is determined by ?

    a. the market comparison approach.
    b. the cost approach.
    c. the income approach.
    d. the sales comparison approach.

    In a deed of trust, the borrower is ?

    a. the trustor.
    b. the trustee.
    c. the beneficiary.
    d. the holder.

Real Estate Practice

    Which statement is an example of a specific goal? ?

    a. I will work harder next week.
    b. I will improve my listing presentation.
    c. I will make 10 calls tomorrow on for-sale-by-owner ads and schedule three property showings by Sunday.
    d. I will learn by observing successful agents.

    The AIDA approach does NOT include ?

    a. attention.
    b. demand.
    c. interest.
    d. action.

    A CMA is BEST described as ?

    a. a formal appraisal.
    b. the cooperative marketing approach of multiple listings.
    c. a reflection of the reality of the marketplace.
    d. the comparative mortgage analysis performed by agents in advising buyers as to lender and loan type.

Legal Aspects Of Real Estate

    After Albert agreed orally to sell to Smith, Smith made extensive improvements to the property with the knowledge of Albert. Albert now refuses to sell because the sales agreement was oral. What will be the result? ?

    a. Albert does not have to sell, based on the statute of frauds.
    b. Albert must sell, because of the doctrine of estoppel.
    c. Albert must sell, because of laches.
    d. Albert\\\\\\\'s only remedy is compensatory damages.

    Refinancing without a discernable benefit to a borrower is ?

    a. prohibited by the Servicemembers Civil Relief Act of 2003.
    b. a violation of the Truth In Savings Act.
    c. considered predatory lending.
    d. a violation of the Mortgage Forgiveness Debt Relief Act of 2007.

    A broker takes listings in an area where property values are going down because the neighborhood is changing, and there is a mass exodus of whites. Which of the following actions by the broker would be a violation of fair housing laws? ?

    a. Advertising "Sell your property fast before you lose equity"
    b. Offering whites a lower commission rate to sell their property
    c. Both of these
    d. Neither of these

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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.