Real Estate Broker Licensing Exam Practice Questions

Hundreds of practice questions covering the National Portion of the real estate broker licensing exam — including brokerage management, trust accounts, agency relationships, contracts, property valuation, fair housing, and settlement procedures. Questions include worked explanations with full solution steps.

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Sample Questions

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Question 1 of 3

A broker receives a $5,000 earnest money deposit from a buyer. Under most state laws and national standards, where must the broker deposit these funds?

A The broker's personal checking account
B A designated trust or escrow account
C The brokerage's general operating account
D A money market account in the buyer's name
Question 2 of 3

A listing agent discovers that the property she listed has a major foundation defect. The seller instructs her not to disclose it to buyers. What is the agent's legal obligation?

A Follow the seller's instructions since the seller is the client
B Disclose the defect to prospective buyers as a known material fact
C Withdraw the listing without explanation
D Disclose the defect only if a buyer asks directly about foundation issues
Question 3 of 3

A managing broker wants to ensure compliance with the Real Estate Settlement Procedures Act (RESPA). Which of the following practices would violate RESPA?

A Providing buyers with a list of three recommended title companies
B Accepting a referral fee from a mortgage lender for directing buyers to that lender
C Requiring the buyer to use a specific home inspection company
D Charging the buyer for preparing a comparative market analysis

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