Real Estate Sales Exam Cheat Sheet 2026

The 30 highest-yield Real Estate Sales Exam facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. Under California's Agency Disclosure Law, at what point in a transaction must a licensee provide the mandatory agency disclosure form (AD) to a buyer? → As soon as practicable before the buyer signs an offer to purchase
2. Under the Americans with Disabilities Act (ADA), which of the following must provide accessible facilities? → Commercial facilities open to the public
3. Which mortgage clause allows the lender to declare the entire loan balance due immediately if the borrower defaults? → Acceleration clause
4. What happens to earnest money if a buyer backs out due to a valid contingency? → The earnest money is returned to the buyer
5. Which document transfers title to real property from seller to buyer at closing? → Deed
6. Which federal law requires lenders to disclose the annual percentage rate (APR) to borrowers? → Truth in Lending Act (TILA)
7. A property owner grants an easement to a utility company to run power lines across their land. This is an example of which type of easement? → Easement in gross
8. A borrower pays 2 discount points on a $240,000 mortgage loan. How much will the borrower owe in points at closing? → $4,800
9. Redlining historically refers to: → Denying services such as loans or insurance to residents in minority neighborhoods
10. When does a buyer's agency relationship typically begin? → When a buyer-broker agreement is signed
11. Under the Code of Ethics, a REALTOR discovers that a competing agent has made false claims about a property listing. What is the REALTOR's primary obligation? → Report the matter to the local board of REALTORS
12. A listing agent who fails to present a buyer's offer to the seller because the agent thinks it is too low has violated the duty of: → Obedience
13. Which form of co-ownership requires all owners to hold equal, undivided interests and includes the right of survivorship? → Joint tenancy
14. What is the maximum conforming loan limit used to determine whether a loan qualifies as a conventional conforming loan (standard 2024 baseline)? → $806,500
15. Which type of listing agreement entitles the listing broker to a commission regardless of who procures the buyer, even if the seller finds the buyer themselves? → Exclusive right-to-sell listing
16. What is the function of an acknowledgment on a deed? → It confirms the grantor signed voluntarily and is who they claim to be
17. A California real estate licensee who acts as a dual agent must do which of the following? → Obtain written consent from both the buyer and the seller before acting as a dual agent
18. Which of the following would NOT be considered an encumbrance on real property? → A fee simple absolute ownership interest
19. A property owner grants a neighbor the right to cross their land to access a public road. What type of interest has been created? → Easement appurtenant
20. When a property owner dies intestate and has no heirs, title to the property passes to the state through which process? → Escheat
21. During a listing presentation, a seller insists on a price well above market value. What should the agent do? → Present comparable sales data and explain pricing consequences
22. Under RESPA, a lender must provide the borrower with a Loan Estimate within how many business days of receiving a loan application? → 3 business days
23. Which of the following is an occupant of land? → All of the above
24. Which type of deed provides the LEAST protection to the grantee? → Quitclaim deed
25. When a deed is recorded in the public records, it provides what type of notice to the world? → Constructive notice
26. The "agreement of sale" is the most significant contract in the selling of real estate. → True
27. What is the term for the percentage of a property's appraised value that a lender is willing to finance? → Loan-to-value ratio (LTV)
28. The term "tenancy" in real estate means: → A mode of holding ownership
29. An agent who owes a fiduciary duty of obedience must do which of the following? → Follow all lawful instructions from the client
30. In a designated agency arrangement, which statement is TRUE? → The broker acts as a dual agent while individual agents represent separate clients