Free practice test

Real Estate Broker Practice Test

Check what you know about the real estate broker job with 15 free questions and instant explanations.

Updated By the Career Education Institute Curriculum Team
About this practice test

15 multiple-choice questions on real estate broker knowledge, safety and vocabulary. Submit to see your score and explanations, or open any question’s answer as you go. Nothing is saved or shared.

Question 1 of 15The MLS is:
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Answer: Multiple Listing Service. It shares listings.

Question 2 of 15A trust account holds:
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Answer: Client funds. It holds client money.

Question 3 of 15A CMA helps:
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Answer: Price homes. It compares sales.

Question 4 of 15Brokers must supervise:
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Answer: Affiliated agents. Brokers are responsible for agents.

Question 5 of 15Earnest money shows:
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Answer: A buyer’s commitment. It’s a good-faith deposit.

Question 6 of 15Which term matches this definition: “Completing a sale.”
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Answer: Closing. Closing: Completing a sale.

Question 7 of 15What does “Buyer agreement” mean?
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Answer: A contract to represent a buyer.. Buyer agreement: A contract to represent a buyer.

Question 8 of 15Which term matches this definition: “A deposit showing a buyer’s commitment.”
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Answer: Earnest money. Earnest money: A deposit showing a buyer’s commitment.

Question 9 of 15What does “Fair housing” mean?
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Answer: Laws against discrimination.. Fair housing: Laws against discrimination.

Question 10 of 15Which term matches this definition: “Comparative market analysis.”
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Answer: CMA. CMA: Comparative market analysis.

Question 11 of 15What does “MLS” mean?
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Answer: Multiple Listing Service.. MLS: Multiple Listing Service.

Question 12 of 15Which term matches this definition: “Representing both sides, where allowed.”
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Answer: Dual agency. Dual agency: Representing both sides, where allowed.

Question 13 of 15What does “Trust account” mean?
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Answer: An account holding client funds.. Trust account: An account holding client funds.

Question 14 of 15Which term matches this definition: “A broker who supervises agents.”
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Answer: Managing broker. Managing broker: A broker who supervises agents.

Question 15 of 15What does “Commission” mean?
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Answer: Payment based on sale price.. Commission: Payment based on sale price.

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