Licensed Real Estate Agent Exam case studies
Licensed Real Estate Agent Exam · Put your knowledge to work in context.
The Licensed Real Estate Agent Exam is the entry credential most U.S. states require before a person may perform brokerage activities for compensation under a supervising broker. The Licensed Real Estate Agent Exam case studies are 5 cases and about 3,629 words.
1Life Estate, Remainder, and a Neighbor's Lane
Rose Kwan, 78, owns a three-acre parcel in a state where the prescriptive period is 20 years. In 2004 she conveyed the parcel 'to Rose for life, then to my children David and Ellen as tenants in common.' Rose still lives in the house.
807 words, about 4 min2Conflicting Clients and a Seller's Secret Deadline
Priya, a licensee at Harbor & Main Realty, has a signed buyer-broker agreement with Marcus, who is buying a 12-unit apartment building. Harbor & Main also holds the listing on that building, signed by seller Gail.
702 words, about 4 min3A Missed Inspection Deadline and an Undisclosed Water Claim
On March 1, buyer Lena and seller Omar sign a brokerage-drafted contract for a 420,000 house. Lena deposits 10,000 earnest money with the brokerage's escrow account.
737 words, about 4 min4Appraisal Gap, Fee Tolerance, and an Affiliated Title Agency
Buyer Tessa is under contract for a 380,000 townhouse and plans a 90% loan-to-value conventional loan at 6.5% for 30 years. Her Loan Estimate shows a 3,420 origination fee (1% of the original loan), 650 appraisal, 1,200 title, 250 recording, 12 days of prepaid interest, and three months of tax and insurance reserves.
692 words, about 3 min5Occupancy Rule, Assistance Animal, and 'No Children' Advertising
Golden Gate Property Management manages a 24-unit, market-rate apartment complex with a community pool. Its written policy says 'maximum two persons per bedroom.' A family of two adults and three children applies for a two-bedroom unit and is rejected solely under that policy.
691 words, about 3 min