US Real Estate Arkansas Advanced Test 1

Real Estate » Category

Author: TestGru Team (Education Specialist)

20 questions · All questions on one page

Prepared with up-to-date content

Real Estate — Arkansas Professional (Real Estate, USA) USA — Arkansas State Real Estate License — USA

What is this test? for Real Estate Salesperson/Broker prep, USA (national + state law) — Professional (Real Estate, USA) level, USA — Arkansas.
For adults preparing for Real Estate license in the USA
Section: Real Estate — Arkansas · Education: Professional (Adult) · Part: Real Estate — Arkansas · Country: USA · Region: USA — Arkansas

Finance and real estate acumen covers markets, valuation, contracts, and budget management.

This test is designed to reinforce core concepts and help you succeed on your exams.

By solving this test of 20 questions, you can both test your knowledge and identify the topics you need to improve.

Question 1

What is agency in real estate?

A) tenancy

B) ownership

C) zoning

D) broker acting for a client

Question 2

What is a listing agreement?

A) contract to sell a property

B) purchase offer

C) lease

D) deed

Question 3

What is earnest money?

A) commission

B) tax

C) fee

D) buyer good-faith deposit

Question 4

What is a fiduciary duty?

A) secrecy from client

B) profit first

C) dual profit

D) loyalty, obedience, care to client

Question 5

What is dual agency?

A) no representation

B) buyer only

C) two brokers

D) one broker representing both sides

Question 6

What is the Fair Housing Act?

A) tax law

B) bans housing discrimination

C) building code

D) zoning code

Question 7

What classes are protected in housing?

A) income

B) politics

C) race, color, religion, sex, handicap, family, national origin

D) age only

Question 8

What is redlining?

A) mapping

B) appraising

C) illegal denial by neighborhood

D) surveying

Question 9

What is steering?

A) showing homes

B) guiding buyers by race (illegal)

C) negotiating

D) advertising

Question 10

What is a CMA?

A) appraisal

B) comparative market analysis

C) inspection

D) survey

Question 11

What is an appraisal?

A) listing

B) professional value opinion

C) offer

D) inspection

Question 12

What are the three appraisal approaches?

A) show, stage, sell

B) offer, accept, record

C) list, sell, close

D) sales comparison, cost, income

Question 13

What is PITI?

A) a deed

B) a tax

C) principal, interest, taxes, insurance

D) a loan type

Question 14

What is LTV?

A) loan-to-value ratio

B) listing traffic volume

C) lease term value

D) land title verification

Question 15

What is PMI?

A) flood insurance

B) property tax

C) insurance for low down payments

D) title insurance

Question 16

What is escrow?

A) down payment

B) tax

C) neutral third-party holding

D) commission

Question 17

What is a deed?

A) loan paper

B) lease

C) offer

D) ownership transfer document

Question 18

What is a warranty deed?

A) lease

B) option

C) quitclaim

D) guarantees clear title

Question 19

What is a quitclaim deed?

A) transfers whatever interest exists

B) loan

C) lease

D) full warranty

Question 20

What is title insurance?

A) home warranty

B) flood policy

C) protects against title defects

D) life insurance

US Real Estate Arkansas Advanced Test 1

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