Property valuation and financial analysis: Exam centers generally provide a basic calculator to assist with questions on how to estimate home value and conduct financial analyses.Laws of agency and fiduciary duties: The exam touches on subjects like how to create and terminate an agency relationship, responsibilities an agent owes to a buyer or seller, and necessary disclosures.Property ownership and land use controls and regulations: This section typically covers classes and characteristics of the property, how to describe property, encumbrances, and government rights in land (e.g., eminent domain).The national portion of the exam includes general skill questions and information necessary to practice as a real estate agent, like agency law, the basics of property ownership, real estate math and financing, and contracts.Ĭommon subject areas on the real estate exam include: In general, the state portion of the exam will include questions about state-specific laws, regulations, and the practice of real estate within the state. The subject areas for the national portion are the same in every state, but content areas in the state portion are unique from state to state. Know What’s on the Real Estate ExamĮvery state’s real estate exam questions cover national and state-specific real estate law. The Statute of Frauds prevents enforcing of contracts that were never made like verbal contracts. All documents for sale or purchase of real estate need to be in writing and signed by all parties in order to be enforceable.
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