Real Estate Sales Exam Cheat Sheet 2026

The 30 highest-yield Real Estate Sales Exam facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. Under California's Agency Disclosure Law, at what point in a transaction must a licensee provide the mandatory agency disclosure form (AD) to a buyer? → As soon as practicable before the buyer signs an offer to purchase
2. Under the Americans with Disabilities Act (ADA), which of the following must provide accessible facilities? → Commercial facilities open to the public
3. A title search reveals a 'cloud on title.' This means the property has: → An outstanding claim or encumbrance that may affect marketability
4. Which mortgage clause allows the lender to declare the entire loan balance due immediately if the borrower defaults? → Acceleration clause
5. Which of the following creates an express agency relationship? → A written or verbal agreement to represent a client
6. The principle of conformity suggests that property values are maximized when: → Properties in the area are similar in size, style, and use
7. A listing agent has a duty to disclose to buyers that the seller is in foreclosure proceedings. This is because it is a: → Material fact that could affect the buyer's decision
8. What happens to earnest money if a buyer backs out due to a valid contingency? → The earnest money is returned to the buyer
9. Under USPAP (Uniform Standards of Professional Appraisal Practice), an appraiser must: → Remain independent, impartial, and objective in all appraisal assignments
10. Which document transfers title to real property from seller to buyer at closing? → Deed
11. Which federal law requires lenders to disclose the annual percentage rate (APR) to borrowers? → Truth in Lending Act (TILA)
12. A property owner grants an easement to a utility company to run power lines across their land. This is an example of which type of easement? → Easement in gross
13. A borrower pays 2 discount points on a $240,000 mortgage loan. How much will the borrower owe in points at closing? → $4,800
14. Redlining historically refers to: → Denying services such as loans or insurance to residents in minority neighborhoods
15. When does a buyer's agency relationship typically begin? → When a buyer-broker agreement is signed
16. Under the Code of Ethics, a REALTOR discovers that a competing agent has made false claims about a property listing. What is the REALTOR's primary obligation? → Report the matter to the local board of REALTORS
17. What is the primary purpose of private mortgage insurance (PMI)? → To protect the lender if the borrower defaults
18. A listing agent who fails to present a buyer's offer to the seller because the agent thinks it is too low has violated the duty of: → Obedience
19. Which form of co-ownership requires all owners to hold equal, undivided interests and includes the right of survivorship? → Joint tenancy
20. What is the maximum conforming loan limit used to determine whether a loan qualifies as a conventional conforming loan (standard 2024 baseline)? → $806,500
21. A seller instructs their agent to tell potential buyers the home has a newer roof, but the agent knows the roof is 20 years old. The agent should: → Refuse to make the misrepresentation and potentially withdraw from the listing
22. Which type of listing agreement entitles the listing broker to a commission regardless of who procures the buyer, even if the seller finds the buyer themselves? → Exclusive right-to-sell listing
23. What is the function of an acknowledgment on a deed? → It confirms the grantor signed voluntarily and is who they claim to be
24. A California real estate licensee who acts as a dual agent must do which of the following? → Obtain written consent from both the buyer and the seller before acting as a dual agent
25. A real estate agent who secretly earns a referral fee from a home inspector without telling the buyer client is violating which duty? → Loyalty and disclosure
26. Which of the following would NOT be considered an encumbrance on real property? → A fee simple absolute ownership interest
27. A property owner grants a neighbor the right to cross their land to access a public road. What type of interest has been created? → Easement appurtenant
28. When a property owner dies intestate and has no heirs, title to the property passes to the state through which process? → Escheat
29. A real estate agent who represents a landlord and helps rent a property owes fiduciary duties to: → The landlord, as the principal
30. During a listing presentation, a seller insists on a price well above market value. What should the agent do? → Present comparable sales data and explain pricing consequences