RES Study Guide 2026
Everything you need to pass the RES exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.
📋 RES Exam Format at a Glance
📚 RES Topics to Study (15)
✍️ Sample RES Questions & Answers
1. What is a loan-to-value (LTV) ratio?
LTV is calculated by dividing the mortgage amount by the property's appraised value. An 80% LTV means the buyer is financing 80% of the value. Higher LTVs typically require private mortgage insurance (PMI).
2. What is the principle of 'caveat emptor' and how has it changed in real estate?
Caveat emptor traditionally placed the burden on buyers to discover defects. Modern real estate law has shifted significantly, requiring sellers and agents to disclose known material defects and conditions.
3. The Income Approach to value is most appropriate for:
The Income Approach is most applicable to income-producing properties like apartment complexes, office buildings, and shopping centers, where value is driven by the income stream.
4. What is steering in real estate?
Steering violates the Fair Housing Act by directing prospective buyers or renters toward or away from certain neighborhoods based on race, religion, national origin, or other protected characteristics.
5. What is the difference between a general warranty deed and a quitclaim deed?
A general warranty deed provides the highest level of buyer protection with covenants guaranteeing clear title. A quitclaim deed transfers whatever interest the grantor has (if any) without any warranties.
6. The principle of conformity states that:
The principle of conformity holds that property values are maximized and maintained when properties conform in style, design, and use to the characteristics of the surrounding neighborhood.