Practice of Real Estate Practice Questions
Free practice of real estate questions from the real estate licensing exam, each with the answer explained. Tap any question for the full breakdown and a video walkthrough.
Which of the following is an example of functional obsolescence?
Functional obsolescence is a loss in value from outdated design or features WITHIN the property (poor layout, one bathroom, no closets). Peeling paint is physical deterioration; a factory next door is external obsolescence. Common trap: students confuse functional (internal design flaw) with external (outside influence) obsolescence.
See the answerA licensee should disclose their licensee status when:
A licensee must disclose their license status when dealing in real estate for their own account, so the other party knows they are dealing with a professional. Common trap: students think personal transactions exempt the licensee from disclosure; the status must still be revealed.
See the answerWhich of the following is personal property?
Emblements β annual crops produced by labor (corn, wheat) β are treated as personal property even while attached to the land. Built-in appliances, timber, and pools are fixtures (real property). Common trap: students think anything attached to land is real property; emblements are an exception.
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