Real Estate Exam Practice Test 2026 (BROKER AND SALESPERSON)

Last Updated on February 26, 2026

Real Estate Exam Practice Test 2026 (BROKER AND SALESPERSON) (50 Question Answers) online quiz. Our Real Estate License Practice Test questions will help you better prepare for your Real Estate License Exam Prep. Candidates from Louisiana, Florida, California, New York, Texas, and other states may try this sample Real Estate License Exam for brokers or salespeople for free.

Some states prepare their examination for prospective real estate licensees. Others rely on independent testing services to prepare, administer, and/or score real estate examinations. These tests are revised regularly to reflect current laws and practices. This sample quiz will help you prepare for the real estate salesperson’s licensing examination, prepared by an independent testing company, Psychological Services, Inc. (PSI).

Real Estate Exam Practice Test 2026

Exam Name Real Estate License Exam
Position Broker / Sale
Test type sample quiz test
Question Type Multiple Choice
Total Questions 50
Time duration N/A
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0

Real Estate BROKER AND SALESPERSON

1 / 50

1) An owner who sells property that he developed:

2 / 50

2) Herb is 17 when he signs a contract to lease a small house. After the property manager accepts his offer, the lease contract is:

3 / 50

3) A township is:

4 / 50

4) If a buyer and seller reach oral agreement over the price and terms of a contract but seek a broker’s help to complete written contract forms, the relationship with the broker is likely to be:

5 / 50

5) Which is not an appraisal approach?

6 / 50

6) If a broker uses a title company to hold escrow deposits, the broker must turn over the funds:

7 / 50

7) The rate of commission on a real estate sale is:

8 / 50

8) When estimating the market value of the subject house, which is 20 years old, which of the following would be of importance?

9 / 50

9) As a general rule, escrow money received by the broker:

10 / 50

10) Which of the following is a voluntary alienation of real property?

11 / 50

11) Which of the following, when performed for others, are included as real estate services for the purposes of determining licensure requirements?

12 / 50

12) Developers subdivide land and assign lot and block numbers to identify lots in the subdivision. This is a legal description known as:

13 / 50

13) In a no brokerage agency arrangement, parties give up their rights to a broker’s:

14 / 50

14) To appraise a house valued at over $1,000,000 in a federally related transaction, the person performing the appraisal would need to:

15 / 50

15) Which of the following best describes the role of a broker who seeks a buyer?

16 / 50

16) It is a good practice for a broker to prequalify:

17 / 50

17) A deed is the instrument used to convey ownership of:

18 / 50

18) A bank acquired property through foreclosure. Upon sale of the property, the bank covenants and warrants the property’s title only against defects occurring during the bank’s ownership. This conveyance is a(n):

19 / 50

19) The subject house being appraised has a swimming pool and a garage. The appraiser estimates that a pool contributes $20,000 to the value and a garage contributes $15,000. A recent sale in the neighborhood for $300,000 is similar except that it has a garage but no pool. The adjusted value of the comparable house is:

20 / 50

20) A broker with no agency relationship may assist:

21 / 50

21) Sally has shown Rebecca 11 homes, and Rebecca has selected one and made an offer. An hour later Rebecca changes her mind. Which of the following is true?

22 / 50

22) A salesperson is ______________ of the broker.

23 / 50

23) A main goal of an appraiser is:

24 / 50

24) Dual agency is defined as an arrangement in which:

25 / 50

25) An unlicensed employee of a broker who prepares an advertisement to sell a house:

26 / 50

26) A single agent relationship provides a _______________ with a seller.

27 / 50

27) Wear and tear is a form of loss in value called:

28 / 50

28) The best way for a broker acting as a dual agent to minimize his or her risk is to:

29 / 50

29) All other things being equal, the cost per square foot of a two-story house compared to a one-story house having the same square footage:

30 / 50

30) In a no brokerage agency relationship, the seller or buyer:

31 / 50

31) Termination of a brokerage relationship may occur as a result of:

32 / 50

32) An appraiser should:

33 / 50

33) A major factor in appraising a business opportunity is the:

34 / 50

34) An appraiser opines that a commercial property, if fully leased, would produce $20,000 per month in rent. A vacancy allowance of 9% is applied, and by using a capitalization rate of 12%, the market value of the property is estimated at:

35 / 50

35) Prices of comparable sales are adjusted:

36 / 50

36) Ellen bought a half-acre lot at $10 per square foot and built a house 50' × 50' for $75 per square foot. Her total cost:

37 / 50

37) A single agent must:

38 / 50

38) When a broker serves in a single agent capacity, his obligations to the customer include:

39 / 50

39) Harry gives Sam a $5,000 payment and a written agreement stating that, on July 1 of the following year, Harry will purchase the property from Sam for $150,000 cash, or Sam may keep the money. This transaction is:

40 / 50

40) A person who wishes to sell his or her own house:

41 / 50

41) Brokerage representation may legally include:

42 / 50

42) When representing a buyer in a real estate transaction, a broker must disclose to the seller all of the following except:

43 / 50

43) How is a buyer’s broker typically paid?

44 / 50

44) Prima facie evidence refers to evidence that is good and sufficient on its face to:

45 / 50

45) Some ways to terminate a brokerage relationship are:

46 / 50

46) When a broker is an agent of the owner, the salesperson is:

47 / 50

47) Broker Herman must have an escrow account:

48 / 50

48) In which appraisal approach does the appraiser estimate the land value separately from improvements?

49 / 50

49) Carol is buying a house and has 30 days in which to obtain a financing commitment as specified in the sales contract. The contract states that “time is of the essence” applies to financing approval. Which is true?

50 / 50

50) When a real estate attorney wants to earn a commission for performing real estate services, he or she must:

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