Real Estate Practice Exam 4
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Please answer the following question:

A developer retains agent Suzy to sell townhouses. Joey, a licensed agent, submits an offer to buy unit 1603 for $120,000, and a sales contract is executed. Through a typographical error, however, the contract identified unit 1602 which was listed for $150,000. 

This contract would fall under which category?


Real Estate Exam Information

If you want to take your state's real estate licensing exam, you will need to complete the required prelicensing education program provided by your state. Once this is completed, you will be able to take your state's real estate licensing exam. This exam will include a state specific portion and a national portion. Some topics that may appear on the exam include: 

  • Real Property Characteristics
  • Freehold Estates
  • Real Estate Ownership
  • Land and Property Descriptions
  • Monetary and Non-Monetary Incumbrances
  • Local, State, and other Government Restrictions
  • Real Property Liens
  • Agency and Agency Relationships
  • Real Estate Brokerage
  • Buyer and Listing Agency Agreements
  • Contract Law
  • Transfer of Property Title
  • Financing Principles
  • Property Management
  • Leasing
  • Appraisals
  • Investment Analysis
  • Real Property Environmental Issues
  • Settlement

Each state has their own licensing exam so the exams vary slightly. In general, you should expect around 100-150 multiple choice questions. Of the 100-150 questions, 60-80 will be state-specific questions, while the other 80-100 will be general real estate concepts. You will be given 2-4 hours to complete the exam. Make sure to look at a Real Estate practice exam to know what you should expect.



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