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40 multiple-choice questions and 37 flashcards on Real Estate Practice, about 5% of the Real Estate License bank. Every one carries a written rationale.
Real Estate Practice is one of 13 chapters in CoStudy's Real Estate License bank, and it holds 40 of the bank's 796 multiple-choice questions — roughly 5% of the total. That proportion is not arbitrary: chapters follow the certifying body's published exam outline, and the number of questions in each is set by that domain's published weight, so the share of your practice time this chapter takes matches the share of the real exam it accounts for.
Studying by chapter is worth doing once you have a diagnostic score. A single overall percentage tells you whether you are close; it does not tell you which domain is dragging. Working a weak chapter in isolation, and re-testing it in isolation, is the fastest way to move a score that has stalled — and it is why the mock exams in CoStudy report by domain rather than as one number.
5 questions drawn from this chapter, with the full rationale shown — the controlling principle behind the right answer, and why each wrong option tempts and fails.
A "lien" against real property is best defined as a:
Answer: D — Claim securing an unpaid debt
A) Not ownership. B) Not a boundary. C) Equity is not a lien. D) Correct — claim securing debt.
A brokerage allows an unlicensed personal assistant to answer phones, schedule appointments, and hand out already-prepared flyers, but never to negotiate terms or discuss price with consumers. This division of duties is generally?
Answer: D — Permitted, since these tasks are clerical and don't require a real estate license
A) Purely clerical/administrative tasks generally don't require licensure. B) Per-transaction pay for unlicensed staff is actually the arrangement most likely to be problematic, not required. C) Attorney status is unrelated to this permitted clerical work. D) Correct — scheduling and handing out prepared materials without negotiating are classic permitted unlicensed-assistant tasks.
A brokerage's compliance officer audits transaction files each quarter to confirm agency disclosures were signed, offers were documented, and trust funds were deposited on time. This activity BEST illustrates?
Answer: A — A form of risk management through internal file review and supervision
A) Correct — internal audits of files for compliance and documentation are standard risk-management/supervision practice. B) Supervision for compliance doesn't itself convert independent contractors into employees. C) File audits about documentation aren't about coordinating prices among competitors. D) Fair housing law doesn't set a brokerage-size threshold for internal audits.
Listing commissions in the U.S. are typically established how?
Answer: B — Negotiable between seller and broker, expressed as a percentage
A) Fixing commissions across firms would violate antitrust law. B) Correct — commissions are always negotiable. C) No such uniform rate exists. D) No such uniform rate exists.
A brokerage pays an unlicensed marketing assistant a percentage of each closed transaction's commission for helping schedule showings. This compensation structure MOST likely?
Answer: C — Violates rules against paying unlicensed persons compensation tied to real estate transactions
A) Unlicensed staff generally may be paid salary or hourly wages, but not transaction-based compensation tied to brokerage activity requiring a license. B) RESPA disclosure requirements don't hinge on this arrangement. C) Correct — paying unlicensed persons a share of commission for license-required activity is a common violation. D) An MLO license is unrelated to this real estate licensing issue.
4 cards from the 37 in this chapter.
What are emblements?
Annual crops planted and cultivated by a tenant. They are considered personal property and the tenant has the right to harvest them even if the lease ends before harvest.
Several brokerages agree to boycott a discount brokerage. What violation is this?
Group boycott (concerted refusal to deal) — an antitrust violation under the Sherman Act.
A home inspection reveals the roof is 18 years old on a 20-year roof. The buyer asks the seller to replace it. Is the seller obligated?
No — unless the contract requires it or the roof is leaking/defective. Normal wear and age alone don't create an obligation. It's a negotiation point.
What is the difference between the listing price and the sale price?
Listing price (asking price) is the seller's advertised price. Sale price is the actual price the property sells for after negotiations. They may differ significantly.
These are a sample. The full Real Estate Practice chapter runs 77 items with per-chapter progress tracking, on the web and in the iOS app.
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