FREE Real Estate Sales MCQ Question and Answers Flashcards
6 cards from real Real Estate Sales Exam practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 FREE Real Estate Sales MCQ Question and Answers flashcards as text
A seller fails to disclose a known foundation defect to the buyer before closing. After discovery, the buyer may have a legal claim based on which of the following?
Answer: Fraudulent misrepresentation or concealment
A seller who knowingly conceals a material defect can be held liable for fraudulent misrepresentation or concealment, giving the buyer grounds for legal action.
Which of the following is TRUE regarding a net listing?
Answer: The broker receives all proceeds above the seller's minimum desired price
In a net listing, the seller sets a minimum acceptable price and the broker keeps any amount above that as commission, which creates a potential conflict of interest.
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?
Answer: Easement in gross
An easement in gross benefits a specific person or entity rather than an adjacent property, and utility easements are the most common example of this type.
When calculating the amount of property tax owed, which formula is correct?
Answer: Assessed value x mill rate = tax owed
Property tax is calculated by multiplying the assessed value of the property by the local tax (mill) rate.
A real estate agent representing the seller receives an offer that is 10% below asking price. The agent is legally obligated to do which of the following?
Answer: Present the offer to the seller promptly
An agent has a fiduciary duty to present all offers to their client promptly, regardless of the offer amount, unless the seller has given prior written instructions otherwise.
Which of the following scenarios would MOST likely trigger the need for a Phase I Environmental Site Assessment?
Answer: A developer purchasing a former gas station site for redevelopment
A Phase I Environmental Site Assessment is typically required when purchasing commercial or industrial properties with potential contamination history, such as former gas stations.
How this page was made: written with AI tools and published by Nathan Beja, founder of Practice Test Geeks, who is responsible for its content. Exam facts are checked against the official sources listed below. Not reviewed by a subject-matter expert. Editorial policy
Sources & references
Exam facts on this page (fees, format, dates, passing scores) are checked against these official sources; the date is our last check. Editorial policy
- dre.ca.gov — Fees, retake fee, eligibility, exam format, passing score, retake policy, score release, time limit · verified Oct 2026
- dos.ny.gov — Eligibility, fees, retake policy, score release, score validity · verified Oct 2026
- www2.myfloridalicense.com — Test delivery, passing score, eligibility, renewal · verified Oct 2026
- pearsonvue.com — Fees, exam format, score release, time limit, score validity, retake policy, exam information · verified Oct 2026