Pennsylvania Real Estate Broker Exam: Study Guide & Practice - Practice Test Questions & Final Exam

Free Practice Test Instructions:

Choose your answer to the question and click 'Continue' to see how you did. Then click 'Next Question' to answer the next question. When you have completed the free practice test, click 'View Results' to see your results. Good luck!

Answered 0 of 15 questions

questions correct

questions missed

Skip to results >

Question 1 1.
A total breach of contract occurs when a party wholly fails to fulfill his or her obligations under a contract. Which of these examples demonstrates a total breach of contract?
For each example, Rick has hired Mitch to build a tree house in the large oak tree in his backyard. The tree house is for his grandchildren. It should have three windows and be completed in time for them to enjoy during their visit for Spring Break.

Mitch finishes the tree house in time, but it only has one window.
On the last day of the grandchildren's visit, Mitch calls Rick to ask him when he should start on the tree house.
Mitch builds a tree house for Rick, but he builds it in the Maple tree.
Mitch does not build a tree house, but a play house that sits on the ground in the yard.

Question 2 2. What is the main difference between an executed contract and an executory contract?

In an executed contract, there must be a third party.
In an executed contract promises are fulfilled immediately while an executory contract, promises are fulfilled in the future.
In an executory contract, there must be more than one promise.
In an executory contract promises are fulfilled immediately while an executive contract, promises are fulfilled in the future.

Question 3 3. When a bank takes back a home from a borrower for non-payment, it is referred to as _____.

Escrow
Private mortgage insurance
Lien-release
Foreclosure

Question 4 4. During the student loan application process, Sandy signed a document that contained the name of the borrower, the name of the lender, the amount borrowed, the interest rate, the date the note was signed, and the first payment due date. This document is known as a:

promissory note
none of the answers given are correct
IOU
loan contract

Question 5 5. Which of the following is a right of the life estate holder?

A life estate holder can change who the remainderman is.
A life estate holder can sell his or her interest in the property.
A life estate holder can devise the property through his will.
A life estate holder can commit waste on the property.

Question 6 6. Which type of trust is created during life and which type is created upon death?

Living, inter vivos
Inter vivos, living
Inter vivos, testamentary
Testamentary, inter vivos

Question 7 7. What must the tenant pay in a gross lease?

Rent
Rent and real estate taxes
Rent, real estate taxes and insurance
Rent, real estate taxes, insurance and maintenance

Question 8 8. Which of the following is an example of a constructive eviction?

Serving the tenant with an order to appear in court
Sending the tenant a pay or quit notice
All of these answers are correct.
Disconnecting the tenant's cable service

Question 9 9. Alicia received a conveyance of property by special warranty deed from Beth. John shows up at Alicia's new home and claims the mineral rights to her property based upon an inheritance that occurred over twenty years ago. This was before Beth even owned the property. What covenant has been breached?

Covenant of quiet enjoyment
None
Covenant of seisin
Covenant of right to convey

Question 10 10. A person who dies with a valid will is said to have died , while a person who dies without a valid will is said to have died .

intestate, testate
testate, intestate
as a devisor, as a bequeather
probate, non-probate

Question 11 11. What is one characteristic of livable space?

Is includes only space you would commonly use
Includes the porch and garage
It has the largest space of all methods of measurement
It includes your portion of the complex's pool area

Question 12 12. Which of the following surveys take into account the Earth's curvature?

Geodetic
None do
Cadastral
Topographic

Question 13 13. What kind of collateral is used to secure a bridge loan?

Currently owned real estate
The real estate being purchased
Personal signature
The debt-to-income ratio

Question 14 14. What type of fee do lenders charge to process a bridge loan application?

Mortgage insurance fee
Origination fee
Collateral fee
Closing fee

Question 15 15. Which of the following is not a place of public accommodation for purposes of the ADA?

A hotel
A library
An office building
Restaurant

Continue Next Question ( of ) View Results

questions correct

questions missed

Skip to results >

Tell us about yourself

Are you a student or a teacher?

I am a student

I am a teacher

Pennsylvania Real Estate Broker Exam: Study Guide & Practice Final Free Practice Test Instructions

Pennsylvania Real Estate Broker Exam: Study Guide & Practice / Real Estate Prep

Test Prep Plan - Take a practice test

Pennsylvania Real Estate Broker Exam: Study Guide & Practice Final Exam

Question 2 2. What is the main difference between an executed contract and an executory contract?

Question 3 3. When a bank takes back a home from a borrower for non-payment, it is referred to as _____.

Question 4 4. During the student loan application process, Sandy signed a document that contained the name of the borrower, the name of the lender, the amount borrowed, the interest rate, the date the note was signed, and the first payment due date. This document is known as a:

Question 5 5. Which of the following is a right of the life estate holder?

Question 6 6. Which type of trust is created during life and which type is created upon death?

Question 7 7. What must the tenant pay in a gross lease?

Question 8 8. Which of the following is an example of a constructive eviction?

Question 10 10. A person who dies with a valid will is said to have died , while a person who dies without a valid will is said to have died .

Question 11 11. What is one characteristic of livable space?

Question 12 12. Which of the following surveys take into account the Earth's curvature?

Question 13 13. What kind of collateral is used to secure a bridge loan?

Question 14 14. What type of fee do lenders charge to process a bridge loan application?

Question 15 15. Which of the following is not a place of public accommodation for purposes of the ADA?

Tell us about yourself

Are you a student or a teacher?

Pennsylvania Real Estate Broker Exam: Study Guide & Practice Final Free Practice Test Instructions

Explore our library of over 79,000 lessons

Question 2 2. What is the main difference between an executed contract and an executory contract?

Question 3 3. When a bank takes back a home from a borrower for non-payment, it is referred to as _____.

Question 4 4. During the student loan application process, Sandy signed a document that contained the name of the borrower, the name of the lender, the amount borrowed, the interest rate, the date the note was signed, and the first payment due date. This document is known as a:

Question 5 5. Which of the following is a right of the life estate holder?

Question 6 6. Which type of trust is created during life and which type is created upon death?

Question 7 7. What must the tenant pay in a gross lease?

Question 8 8. Which of the following is an example of a constructive eviction?

Question 10 10. A person who dies with a valid will is said to have died ____, while a person who dies without a valid will is said to have died ____.

Question 11 11. What is one characteristic of livable space?

Question 12 12. Which of the following surveys take into account the Earth's curvature?

Question 13 13. What kind of collateral is used to secure a bridge loan?

Question 14 14. What type of fee do lenders charge to process a bridge loan application?

Question 15 15. Which of the following is not a place of public accommodation for purposes of the ADA?

Tell us about yourself

Are you a student or a teacher?

Pennsylvania Real Estate Broker Exam: Study Guide & Practice Final Free Practice Test Instructions

Explore our library of over 79,000 lessons

Question 10 10. A person who dies with a valid will is said to have died , while a person who dies without a valid will is said to have died .