US Real Estate Broker Advanced Test 2

Real Estate » Category

Author: TestGru Team (Education Specialist)

20 questions · All questions on one page

Prepared with up-to-date content

Real Estate — Test 2 (Broker Advanced) Professional (Real Estate, USA) USA 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.
For adults preparing for Real Estate license in the USA
Section: Real Estate — Test 2 (Broker Advanced) · Education: Professional (Adult) · Part: Real Estate — Test 2 (Broker Advanced) · Country: USA

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 earnest money?

A) commission

B) buyer good-faith deposit

C) tax

D) fee

Question 2

What is a fiduciary duty?

A) secrecy from client

B) dual profit

C) profit first

D) loyalty, obedience, care to client

Question 3

What is agency in real estate?

A) ownership

B) zoning

C) broker acting for a client

D) tenancy

Question 4

What is a listing agreement?

A) deed

B) contract to sell a property

C) lease

D) purchase offer

Question 5

What is dual agency?

A) buyer only

B) no representation

C) one broker representing both sides

D) two brokers

Question 6

What is the Fair Housing Act?

A) building code

B) tax law

C) bans housing discrimination

D) zoning code

Question 7

What classes are protected in housing?

A) income

B) age only

C) politics

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

Question 8

What is redlining?

A) mapping

B) appraising

C) illegal denial by neighborhood

D) surveying

Question 9

What is steering?

A) negotiating

B) advertising

C) showing homes

D) guiding buyers by race (illegal)

Question 10

What is a CMA?

A) survey

B) appraisal

C) inspection

D) comparative market analysis

Question 11

What is an appraisal?

A) inspection

B) offer

C) listing

D) professional value opinion

Question 12

What are the three appraisal approaches?

A) sales comparison, cost, income

B) list, sell, close

C) show, stage, sell

D) offer, accept, record

Question 13

What is PITI?

A) a loan type

B) principal, interest, taxes, insurance

C) a deed

D) a tax

Question 14

What is LTV?

A) loan-to-value ratio

B) listing traffic volume

C) land title verification

D) lease term value

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) tax

B) commission

C) neutral third-party holding

D) down payment

Question 17

What is a deed?

A) ownership transfer document

B) lease

C) loan paper

D) offer

Question 18

What is a warranty deed?

A) quitclaim

B) option

C) guarantees clear title

D) lease

Question 19

What is a quitclaim deed?

A) full warranty

B) lease

C) transfers whatever interest exists

D) loan

Question 20

What is title insurance?

A) protects against title defects

B) home warranty

C) life insurance

D) flood policy

US Real Estate Broker Advanced Test 2

Test Complete

About This Test