Real Estate Exam Questions: A Guide to Passing the BARNEY FLETCHER POST LICENSE COURSE, Exams of Nursing

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BARNEY FLETCHER POST LICENSE

COURSE EXAM QUESTIONS 2025 |

GUARANTEED PASS

Within the first five years around ___% of agents leave the real estate business - ACCURATE ANSWERS✔✔ 80-90% For buyers what are the five steps of the pre-qualification process - ACCURATE ANSWERS✔✔ 1. Urgency

2. Motivation
3. Financial Ability
4. Wants and Needs
5. Agency For sellers what are the five steps to the first appointment - ACCURATE ANSWERS✔✔ 1. Urgency
6. Motivation
7. Concerns
8. Expectations
9. Hesitations A person who may be willing to engage in a real estate transaction - ACCURATE ANSWERS✔✔ Prospect

A person who is willing to perhaps have a conversation but has no real desire to engage in a real estate transactions - ACCURATE ANSWERS✔✔ Suspect In determining whether a person is a suspect or a prospect we must consider - ACCURATE ANSWERS✔✔ Urgency and motivation When setting goals, its important they be - ACCURATE ANSWERS✔✔ Specific Measurable Attainable Realistic Timely Most common type of target market is a particular neighborhood of homes - ACCURATE ANSWERS✔✔ Farming A ______ analysis can be helpful in analyzing your strengths and weaknesses, which can sometimes help you pick the target market that is best for you - ACCURATE ANSWERS✔✔ SWOT The primary objective of any type of real estate prospecting is to - ACCURATE ANSWERS✔✔ Generate an appointment

The ratio that is computed by dividing the number of homes sold in a year by the total number of homes in the farms - ACCURATE ANSWERS✔✔ Turnover ratio A method of prospecting that will involve the telephone, but only as part of a mix of different types of contacts - ACCURATE ANSWERS✔✔ Circle prospecting A ______ agent has more control than a _____ agent - ACCURATE ANSWERS✔✔ Listing/selling This involves only one appointment with the prospective sellers. Licensee makes the presentation, show the recommended price through CMA and try to get sellers to sign the listing contract - ACCURATE ANSWERS✔✔ 1-step listing presentation What is the best way to establish a personal brand in real estate - ACCURATE ANSWERS✔✔ To develop a good reputation Which of the following choices is the most common way buyers find a house they purchased - ACCURATE ANSWERS✔✔ Internet What is the most important part of your "brand" in your real estate career - ACCURATE ANSWERS✔✔ Your reputation

When a real estate licensee focuses his or her prospecting efforts on a particular neighborhood or type of buyer is the licensee's - ACCURATE ANSWERS✔✔ Target market As a real estate agent your primary product is - ACCURATE ANSWERS✔✔ Your contacts When the number of listings by a particular firm is divided by the total number of listings in that neighborhood, the result is the - ACCURATE ANSWERS✔✔ Market share Which of the following is the best way to ask for a referral - ACCURATE ANSWERS✔✔ Who do you know who might be looking to buy or sell a house The process of ensuring that the interior and exterior of a home are as attractive as possible is known as - ACCURATE ANSWERS✔✔ Staging The types of media used to generate new business is known as the - ACCURATE ANSWERS✔✔ Promotional mix When doing the initial tour of a house before making a listing presentation, one goal should be to - ACCURATE ANSWERS✔✔ Get the sellers to view the property from the standpoint of a typical buyers rather than a seller

A buyer has made an offer on a seller's house. The offer gives the buyer 10 days to have a licensed home inspection of the property and to cancel the offer if the inspection reveals significant necessary repairs unknown to the buyer. This is an example of - ACCURATE ANSWERS✔✔ Contingency clause Which of the following types of sales of a personal residence would require a third-party approval before the sale could be closed - ACCURATE ANSWERS✔✔ A bankruptcy, a divorce, or a short sale What is the most important factor in qualifying a prospective buyer - ACCURATE ANSWERS✔✔ Whether the prospect is financially qualified to purchase a home In deterring whether or not to issue a pre-approval letter, the lender would consider - ACCURATE ANSWERS✔✔ Principal, interest, property taxes, and insurance What is the purpose of using an assumptive close - ACCURATE ANSWERS✔✔ To make it easier for the buyer to say yes If the buyer and seller agreed that the buyer would purchase the patio furniture as part of the contract, this would appear in which section of the Purchase and Sale agreement - ACCURATE ANSWERS✔✔ Special Stipulations

A loan point is - ACCURATE ANSWERS✔✔ One percent of the loan amount Assuming the buyers ride in your car, the time spent in the car can be put in good use by - ACCURATE ANSWERS✔✔ Discussing the positive features of the neighborhood what is the biggest difference between traditional telemarketing and circle prospecting? - ACCURATE ANSWERS✔✔ circle prospecting requires. follow-up under what circumstance should a real estate licensee use a 1-step listing presentation - ACCURATE ANSWERS✔✔ if the homeowner insists on it what is the most common reason why new licensees hate making cold calls on the telephone - ACCURATE ANSWERS✔✔ fear of rejection which of the following contact methods is most likely to get people to remember you - ACCURATE ANSWERS✔✔ send a handwritten thank you note after a phone conversation when answering a phone call, which of the following choices would be a key objective - ACCURATE ANSWERS✔✔ to not only give information, but to get information from the caller as well

what type of software is designed specifically to avoid "one and done" prospecting - ACCURATE ANSWERS✔✔ customer relationship management (CRM) when trying to get a listing from a seller whose previous listing was expired, which of the following choices are recommended to solicit a listing contract from that seller - ACCURATE ANSWERS✔✔ provide a free service, such as analysis of current market conditions situations where on party represents another party - ACCURATE ANSWERS✔✔ law of agency the laws regarding agency come from what three sources in the US - ACCURATE ANSWERS✔✔ common law, statutory law, and administrative or regulatory law stems from British laws which applied to the colonies before the Revolutionary War (precedents) - ACCURATE ANSWERS✔✔ Common law laws passed by the state legislature or the Congress and signed by the governor. - ACCURATE ANSWERS✔✔ statutory laws refers to the rules and regulations adopted by various regulatory bodies - ACCURATE ANSWERS✔✔ Administrative or regulatory law

the person who hires the agent to represent them in a transaction - ACCURATE ANSWERS✔✔ principal the person hired to represent the principal - ACCURATE ANSWERS✔✔ agent in real estate practice, the ______ is considered the agent - ACCURATE ANSWERS✔✔ broker represents the principal in all aspects of the principal's dealings, - ACCURATE ANSWERS✔✔ universal agent less authority than a universal agent but may represent the principal in an ongoing series of continuous events, usually in one general field of endeavor. In real estate, property managers - ACCURATE ANSWERS✔✔ general agent represents the principal in one specific transaction. - ACCURATE ANSWERS✔✔ special agent acts as agent for an agent and has the same duties and obligations as the agent - ACCURATE ANSWERS✔✔ subagent a position of trust and must put the interest of his client (Steve) above those of all others, including and especially those of himself. - ACCURATE ANSWERS✔✔ fiduciary obligations

This means that the agent is required to act in the best interest of the client and must not put anyone else's interests ahead of those of the client. - ACCURATE ANSWERS✔✔ loyalty Agents are only required to follow the ________instructions of their client. - ACCURATE ANSWERS✔✔ lawful In simple terms, this means that the licensee must perform the duties of the agent as would a competent real estate professional and without any negligence. - ACCURATE ANSWERS✔✔ reasonable care and diligence If you are showing property you are listing and tell a prospective buyer that "...this property is the best for you," the relationship created could be interpreted as: - ACCURATE ANSWERS✔✔ implied agency Under common law, a broker who has a listing is in a position of trust and must put his or her interests above those of all others. This describes what type of obligation? - ACCURATE ANSWERS✔✔ fiduciary What is the greatest risk in a case where a buyer's agent submits offers on several homes simultaneously? - ACCURATE ANSWERS✔✔. The buyer could be contractually obligated to buy more than one house and could face damages if defaulting on any of the contracts.

The duty of an agent to follow the instructions of the client applies to each of the following instructions, EXCEPT: - ACCURATE ANSWERS✔✔. "Do not reveal to any buyers that my roof leaks." The state law that specifies which types of contracts must be in writing to be enforceable is called the: - ACCURATE ANSWERS✔✔ Statute of Frauds. What offers must a listing broker present to a seller? - ACCURATE ANSWERS✔✔ All offers received prior to closing. Which of the following actions by a licensee who is working with a consumer as a non-client could cause the creation of an agency by implication? a. Filling in the blanks on a pre-printed offer to purchase real property. b. Showing homes to a consumer which meet the consumer's specified needs and desires. c. Making arrangements for a home inspection to take place. d. Making a recommendation about whether to make or accept a counteroffer. - ACCURATE ANSWERS✔✔ Making a recommendation about whether to make or accept a counteroffer. A seller contacted 3 brokers and asked each to suggest the listing price for his property. Broker A said $78,000. Broker B said $79,000. Broker C said $91,000. The seller listed with Broker C and the house later sold

for $76,000. Broker C is guilty of violating which of his or her agency responsibilities? - ACCURATE ANSWERS✔✔ reasonable care Broker Bob has a buyer agency agreement with Buyer Bill. The agreement calls for Buyer Bill to pay a 3% commission upon closing of the purchase of a home. Buyer Bill purchases Seller Sally's house. Seller Sally gave an exclusive right to sell listing agreement to Broker Betty and agreed to pay a 6% commission. In a typical transaction of this nature, how much commission will Buyer Bill have to pay to Broker Bob? - ACCURATE ANSWERS✔✔ nothing A real estate licensee represents himself to a customer as the agent of a seller without the knowledge of the seller. The customer makes an offer on the property, which the licensee then presents to the seller. The seller accepts the offer and agrees to pay a commission to the licensee. This is an example of: - ACCURATE ANSWERS✔✔ agency by ratification What is the purpose or effect of the equal dignities rule? - ACCURATE ANSWERS✔✔ To require that if the underlying contract must be in writing, any related contracts must be in writing. Which of the following clauses in an offer to purchase a property would be most attractive to a buyer who makes several simultaneous offers to purchase a residence when the buyer can only purchase one of them? - ACCURATE ANSWERS✔✔. An unrestricted right to terminate the contract for a limited period of time.

REALTORS® may represent the seller/landlord and buyer/tenant in the same transaction only after - ACCURATE ANSWERS✔✔ full disclosure to and with informed consent of both parties. When acting as listing brokers, REALTORS® shall continue to submit to the seller/landlord all offers and counter-offers until - ACCURATE ANSWERS✔✔ closing or execution of a lease unless the seller/landlord has waived this obligation in writing. When entering into listing contracts, REALTORS® must advise sellers/landlords of: - ACCURATE ANSWERS✔✔ 1) the REALTOR®'s company policies regarding cooperation and the amount(s) of any compensation that will be offered to subagents, buyer/tenant agents, and/or brokers acting in legally recognized non- agency capacities;

2. the fact that buyer/tenant agents or brokers, even if compensated by listing brokers, or by sellers/landlords may represent the interests of buyers/tenants; and
3. any potential for listing brokers to act as disclosed dual agents, e.g., buyer/tenant agents. (Adopted 1/93, Renumbered 1/98, Amended 1/03) REALTOR® A has a listing on a seller's home and the seller has accepted an offer. The offer is contingent upon the sale of the buyer's current home. REALTOR® B has a buyer who has made an offer. Under the Code of Ethics, what should listing REALTOR® A do? a. Ignore REALTOR® B's offer since the seller's home is already under contract. b. Reveal the existence of the contract but not the contingency.

c. Reveal the existence of the contract and the contingency. d. Present the second offer to the seller without disclosing the existence of the offer or the contingency. Feedback - ACCURATE ANSWERS✔✔ c. Reveal the existence of the contract and the contingency. A REALTOR® has a listing on a client's house. The sellers are getting a divorce and need to sell the home quickly. Under what circumstances can the REALTOR® reveal this fact to a potential buyer? - ACCURATE ANSWERS✔✔ d. Only after getting informed consent from the seller. Act was designed to ensure that persons of any race could sign and enforce contracts and could buy and sell and lease property. - ACCURATE ANSWERS✔✔ Civil Rights act of 1866 The Sherman Antitrust Act prohibits each of the following activities, EXCEPT: Select one: a. Commingling. b. Price fixing. c. Boycotts. d. Tying arrangements - ACCURATE ANSWERS✔✔ a. commingling A listing agreement may be terminated by: Select one:

a. The seller b. The buyer's broker c. The salesperson that obtained the listing d. Death of the salesperson - ACCURATE ANSWERS✔✔ a. the seller Brokers must hold their client's funds in a/an: Select one: a. Office safe. b. Savings account. c. Trust or escrow account. d. Special account managed by the Board of Realtors. - ACCURATE ANSWERS✔✔ c. trust or escrow account A broker has the buyer's earnest money deposit deposited in an escrow account. The amount of the deposit exceeds the amount of the broker's commission for the sale. The broker may remove his commission on this sale ONLY: Select one: a. When the buyer moves into the property. b. When the seller moves out of the property. c. When the closing is completed. d. Whenever the seller says it is ok to do so. - ACCURATE ANSWERS✔✔ c. When the closing is completed.

When legal dual agency exists, the agent is required to maintain the confidences of: Select one: a. The buyer only. b. Both the seller and the buyer. c. The seller only. d. Neither the buyer nor the seller. - ACCURATE ANSWERS✔✔ b. Both the seller and the buyer. Fred and Wilma gave a listing contract to Broker Bob to sell their home and both signed the contract. Prior to receiving any offers, Fred died in an unfortunate bowling accident. What is the effect of Fred's death on the listing contract? Select one: a. The contract remains in effect. b. The contract would be automatically terminated by law. c. The contract would be in default. d. The contract would only be enforceable in a community property state. - ACCURATE ANSWERS✔✔ a. The contract remains in effect. Funds in the escrow account may be dispersed for any of the following reasons EXCEPT when: Select one: a. All principals to the transaction agree in writing to the disposition. b. A court orders disbursement of the funds.

c. The seller demands forfeiture of the earnest money deposit. d. The transaction is consummated. - ACCURATE ANSWERS✔✔ c. The seller demands forfeiture of the earnest money deposit. The death of a seller would terminate which of the following contracts? Select one: a. A purchase contract. b. A listing contract. c. Both of the above. d. None of the above. - ACCURATE ANSWERS✔✔ b. A listing contract A broker could return the buyer's deposit from the escrow account back to the buyer in which of the following cases? Select one: a. The offer expired without any acceptance by the seller. b. The seller rejected the buyer's offer. c. The transaction was cancelled because of the buyer's inability to meet the financing contingency and the seller consented to returning the deposit. d. Each of the above. - ACCURATE ANSWERS✔✔ d. Each of the above. The maximum fine for an individual for a violation of the Sherman Antitrust Act is:

Select one: a. $0, since individuals are not subject to the Act - only companies are subject to the Act. b. $250,000. c. $500,000. d. $1,000,000 - ACCURATE ANSWERS✔✔ d. $1,000, Who is required to comply with the Civil Rights Act of 1866? - ACCURATE ANSWERS✔✔ d. Everyone, without exception. Larry Licensee runs an ad for one of his listings. The ad contains the phrase "nearby St. Andrew Roman Catholic Church." This would be considered: - ACCURATE ANSWERS✔✔ a. Acceptable advertising if true; A disparate impact case has gone to trial. The plaintiffs have shown that a particular policy has had a disparate impact on a particular protected class. However, the defendant has shown that the policy serves a legitimate business necessity. What will be the next step? - ACCURATE ANSWERS✔✔ c. The plaintiff will have to show that other policies might have served the same business necessity with less disparate impact on protected classes; Adeline is selling her own home as a For Sale By Owner (FSBO). On Sunday, a full price offer is made by an Asian couple. Adeline refuses the offer made by the couple. On Monday, Adeline accepts an offer, $4000 below the asking price from a Caucasian family. Has Adeline

violated any laws and if so which one? - ACCURATE ANSWERS✔✔ Adeline has violated the Civil Rights Act of 1866; One of the recent emerging issues in Fair Housing complaints has been the issue of excluding applicants on the basis of having a record of criminal convictions. Why is this the case? a. There is a new protected class of people with criminal convictions; b. African-Americans and Latinos have a disproportionately higher rate of having criminal conviction records than Caucasians. c. There is an increasing interest in prison reform; d. Due to provisions of the Dodd-Frank Act. - ACCURATE ANSWERS✔✔ b. African-Americans and Latinos have a disproportionately higher rate of having criminal conviction records than Caucasians. The purpose of the Fair Housing Amendments Act of 1988 was to: Select one: a. Add two new protected classes; b. Repeal the Civil Rights Act of 1866; c. Remove two protected classes; d. Establish complaint procedures. - ACCURATE ANSWERS✔✔ a. Add two new protected classes; Recent years have seen increasing complaints centering on fair housing problems having to do with REO properties. What is typically the complaint?

Select one: a. Excessive numbers of foreclosures in minority neighborhoods; b. Failure to prevent squatters from taking over the property; c. REOs located in African-American and Latino neighborhoods receive less upkeep and maintenance than those in Caucasian neighborhoods; d. It is too difficult to sell REO properties in minority neighborhoods. - ACCURATE ANSWERS✔✔ c. REOs located in African-American and Latino neighborhoods receive less upkeep and maintenance than those in Caucasian neighborhoods; Which of the following phrases in a rental advertisement would be deemed discriminatory against the disabled? Select one: a. Attractive independent living; b. Walking distance to shopping; c. Accessible for the disabled; d. None of the above. Feedback - ACCURATE ANSWERS✔✔ a. Attractive independent living; An apartment complex has a "no pets" policy. Mary is a blind person who applies to rent a unit, but she wants to have her certified guide dog live in the apartment with her. This request: Select one: a. Can only be granted if the landlord agrees to remove "no pets" policy;

b. Should be considered "reasonable accommodation;" c. Should be considered a "reasonable modification;" d. Cannot be granted. - ACCURATE ANSWERS✔✔ b. Should be considered "reasonable accommodation;" In 1968 the Supreme court ruled in the Jones vs. Mayer Co. case. The courts' decision upheld the law which provides protection on the basis of: Select one: a. Sexual discrimination; b. Racial discrimination; c. Discrimination on the basis of national origin d. Religious discrimination - ACCURATE ANSWERS✔✔ b. Racial discrimination; Which of the following choices would be an example of a member of the "familial status" protected class under the Fair Housing Amendments Act? Select one: a. Any married couple; b. A single mother with a 19-year old child; c. A married couple with two grown children; d. A pregnant woman. - ACCURATE ANSWERS✔✔ d. A pregnant woman.

In what circumstance is the owner required to pay any costs associated with a reasonable accommodation? Select one: a. In no cases; b. In all cases; c. Only if the owner receives operating subsidies from the government, such as Section 8 vouchers; d. Only if the property was built after 1991. - ACCURATE ANSWERS✔✔ b. In all cases; The 1988 Amendment to the Federal Fair Housing Act, Title VIII, declared it unlawful to discriminate: Select one: a. Against households with children under 18 years of age; b. On the basis of age; c. Because of sexual orientation; d. On the basis of the sex of the buyer or renter - ACCURATE ANSWERS✔✔ Against households with children under 18 years of age; Which of the following documents may include a question about the applicant's race? Select one: a. A mortgage application only; b. A rental application only; c. Both a mortgage application and a rental application;

d. Neither a mortgage application nor a rental application. - ACCURATE ANSWERS✔✔ a. A mortgage application only; If a prospective buyer (who is of a minority group) asks an agent to show her properties, the agent should: Select one: a. Show her properties in areas that are predominantly of the same minority group; b. Refer her to an agent in the firm of the same minority; c. Advise her that the firm does not handle people of her minority group and refer her to another brokerage d. Show her any property for which she is financially qualified - ACCURATE ANSWERS✔✔ d. Show her any property for which she is financially qualified A victim of discriminatory conduct files a lawsuit and wins the case. Part of the judgment in the case is for emotional distress and loss of a housing opportunity. This part of the judgment is called: Select one: a. Consequential damages; b. Punitive damages; c. Injunctive relief; d. Declaratory relief. - ACCURATE ANSWERS✔✔ a. Consequential damages;

When HUD sends a complaint to a respondent, that respondent has how many days to submit an answer to the complaint? Select one: a. 5 days; b. 10 days; c. 15 days; d. 30 days; - ACCURATE ANSWERS✔✔ b. 10 days; If a dark-skinned African-American refused to rent an apartment house to a lighter-skinned African-American, that would be considered: Select one: a. Discrimination on the basis of race only; b. Discrimination on the basis of color only; c. Discrimination on the basis of both race and color; d. Not to be a violation of the Fair Housing Act. - ACCURATE ANSWERS✔✔ b. Discrimination on the basis of color only; Each of the following would be considered a "person with a disability," EXCEPT: Select one: a. An individual who currently uses illegal drugs; b. A person with a past history of mental impairment; c. A person with a learning disability; d. A person who has difficulty walking. - ACCURATE ANSWERS✔✔ a. An individual who currently uses illegal drugs;

If a landlord or property manager treats Caucasian tenants better than Latino tenants, that would be an example of: Select one: a. Overt evidence of disparate treatment; b. Comparative evidence of disparate treatment; c. Evidence of disparate impact; d. Both A and B above. Feedback - ACCURATE ANSWERS✔✔ b. Comparative evidence of disparate treatment; A fair housing complaint on the basis of excluding those with a record of criminal conviction may be based on allegations of: Select one: a. Disparate impact; b. Disparate treatment; c. Either of the above; d. None of the above. - ACCURATE ANSWERS✔✔ Either of the above; Information gathered because of the Home Mortgage Disclosure Act would most likely be used for which type of discrimination lawsuit? Select one: a. Overt evidence of disparate treatment; b. Comparative evidence of the disparate treatment;

c. Either of the above; d. Evidence of disparate impact. - ACCURATE ANSWERS✔✔ d. Evidence of disparate impact. If the Administrative Law Judge finds that a landlord had violated the Fair Housing Act in the current case, and has been found guilty of two other violations in the past seven years in other cases, the respondent could be ordered to pay a maximum fine of approximately: Select one: a. $16,000; b. $20,000; c. $50,000; d. $100,000. - ACCURATE ANSWERS✔✔ A person who had previously violated the Act two or more times in the past seven years could be fined up to $100,554. In what circumstance is the owner required to pay any costs associated with a reasonable accommodation? Select one: a. In no cases; b. In all cases; c. Only if the owner receives operating subsidies from the government, such as Section 8 vouchers; d. Only if the property was built after 1991. - ACCURATE ANSWERS✔✔ b. In all cases;