Alabama Real Estate Law & Statutory Requirements Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. What is one example of a real estate minimum brokerage service in Alabama?

Question 2 2. When would a real estate sub-agent represent both the buyer and seller in Alabama?

Question 3 3. What is the purpose of the RECAD document in Alabama?

Question 4 4. Sam is representing Laura in purchasing a home. She likes a home they found offered by another agency in town and Sam is negotiating a purchase with the seller's agent. What type of agency relationship do Sam and Laura have?

Question 5 5. What is the main purpose of real estate closing statements?

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Question 6 6. Are closing costs standard for every home purchase?

Question 7 7. You are meeting your client at the closing to purchase their home. What is a document you tell your client to bring with them?

Question 8 8. Who completes the documents for a real estate closing in Alabama?

Question 9 9. Why are real estate brokers required to have a trust account?

Question 10 10. What is one example of a way a broker can mishandle funds?

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Question 11 11. What defines how brokers handle earnest money deposits?

Question 12 12. Who pays the earnest money deposit in a real estate transaction?

Question 13 13. What is one feature of an associate broker in real estate?

Question 14 14. You've finished your broker's license and are ready to set up an office. What must that office have?

Question 15 15. You've just been asked to fill the role of temporary qualifying broker after the qualifying broker had an accident and is in the hospital long term. What is one thing you must meet to be a temporary qualifying broker?

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Question 16 16. What is needed for a qualified broker to work for multiple companies?

Question 17 17. What is the purpose of the Fair Housing Act in Alabama?

Question 18 18. Shawna has contacted you regarding a recent denial of a loan application because the loan officer believes she is part of a cult. What protected class is Shawna in that she is being discriminated for?

Question 19 19. How can a broker support his or her real estate agent in following the Fair Housing Act?

Question 20 20. What is a group that oversees the Fair Housing Act in Alabama?

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Question 21 21. What is one likely reason that a real estate office may be audited?

Question 22 22. Who conducts a real estate office audit in Alabama?

Question 23 23. In Alabama, does the real estate auditor have the right to look at the financial records of a brokerage?

Question 24 24. There are many items on an Alabama real estate audit checklist. Which of the following is on that list?

Question 25 25. Brokers have a responsibility to the general public. What is one way a broker can protect the general public?

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Question 26 26. How can a real estate broker demonstrate his or her responsibility to the Alabama Real Estate Commission?

Question 27 27. Real estate brokers must manage their own business offices. What is one of the things they must handle?

Question 28 28. What duties would be reasonable for a new agent to expect a broker to fulfill?

Question 29 29. What is one situation when a limited consensual dual agency is utilized in Alabama?

Question 30 30. Buyers are given a loan estimate by their mortgage broker. What is the purpose of this?

Alabama Real Estate Law & Statutory Requirements Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

Alabama Real Estate Broker Pre-License Exam: Study Guide & Practice  /  Business Courses
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