Real Estate License Exam
Passing the National Real Estate Salesperson Exam requires fluency in property law, contracts, financing, and math – and every state adds its own twist. This guide’s full-length, 240-question practice exam and clear answer breakdowns keep you focused on the areas that matter most, so you study with purpose.
Practice Questions
Question 1
If an express contract is established and agreed upon, an identical implied contract:
(A) Must be applied
(B) May be applied
(C) Cannot exist
(D) Supplements the express contract
(C) Once an express contract has been established and agreed upon, an identical implied contract cannot exist.
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Question 3
At what loan-to-value percentage will PMI be automatically removed on a conventional loan?
(A) 75%
(B) 78%
(C) 80%
(D) 90%
(B) While a down payment of 20% can avoid the need for PMI and a borrower can apply to have PMI removed at 80% LTV, it will automatically stop at 78%.
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Question 2
To prevent illegal flipping, FHA requires purchasers to own a home for how long before selling again?
(A) 3 months
(B) 6 months
(C) 1 year
(D) 2 years
(A) FHA requires 3 months before the resale of a home.
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Question 4
What listing agreement between a buyer and broker does not include listing the home on the MLS?
(A) Exclusive right to sell listing
(B) Exclusive agency listing
(C) Open listing
(D) Net listing
(C) An open listing allows the owner to place listings with multiple real estate brokers. This listing type is not included in MLS.
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Real Estate Salesperson Exam Guide Highlights
Our Real Estate Salesperson Exam prep delivers everything you need to succeed:
A single 240-question practice exam built to the exact national and state exam specifications, with step-by-step explanations for every answer
A detailed content outline covering property ownership, land-use controls, agency law, disclosures, contract essentials, finance fundamentals, and real estate mathematics
A glossary of key real estate terms to remove any last-minute confusion
A rapid-review “cheat sheet” summarizing formulas, statutes, and transaction workflows for quick reference
Optional Deluxe edition includes a second practice test and state-specific addendum for regulatory nuances
Available in print and PDF, this guide equips you to tackle both national and local requirements with confidence.