REA Study Guide 2026
Everything you need to pass the REA exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.
📋 REA Exam Format at a Glance
📚 REA Topics to Study (38)
✍️ Sample REA Questions & Answers
1. Under the Tax Cuts and Jobs Act of 2017, the first-year bonus depreciation percentage for qualifying property placed in service after September 27, 2017 was set at:
The TCJA increased bonus depreciation to 100% for qualified property placed in service after September 27, 2017, before the phased reduction began in 2023.
2. Under the Dodd-Frank Act, the Consumer Financial Protection Bureau (CFPB) has authority over:
The CFPB, created by Dodd-Frank, regulates mortgage origination, servicing, and consumer financial products to protect borrowers in real estate transactions.
3. When a real estate analyst prepares a supply pipeline analysis, 'proposed' projects are distinguished from 'under construction' projects because:
Proposed projects have not yet secured entitlements or financing, so they carry significant probability of delay or cancellation versus projects actively under construction.
4. When analyzing multifamily market data, 'effective rent' differs from 'asking rent' because effective rent:
Effective rent is the actual economic rent received after subtracting the value of concessions (e.g., one free month), providing a truer picture of market conditions.
5. What is the primary purpose of a real estate feasibility study?
A feasibility study evaluates whether projected revenues, construction costs, and financing conditions will generate returns that meet investor thresholds.
6. Which approach to value is most commonly relied upon for the appraisal of special-purpose properties like churches or schools?
Special-purpose properties rarely sell or generate measurable income, so the cost approach is typically most applicable.