Property, Ownership and Disclosure
What the exam is, how the national and state portions are scored separately and what happens when you pass one and fail the other. Then the material: what counts as real property and what the tenant takes with them, the three legal description systems and why a section is 640 acres, the public and private controls on what an owner may do, the freehold estates and the co-ownership forms and how each one passes on death, what a deed must contain and what recording actually accomplishes, and the disclosure and environmental duties that produce more licensee liability than the rest of this page put together.
Open the property guideContracts, Agency, Value and Finance
The elements that make an agreement enforceable and the vocabulary the exam uses to test them, the sales contract from offer through equitable title to closing, how agency is created and terminated and what the fiduciary duties actually require of you, the listing agreements and how compensation is negotiated after the August 2024 practice changes, fair housing and the ways a licensee breaks it by being helpful, the three approaches to value and when each one governs, and the federal rules that decide how a loan gets disclosed and settled.
Open the contracts guideThe Quizzes
Three sets covering all eight content areas between them, in the order the guides cover them. Each one stands on its own — start wherever you like.
Property, Ownership and Disclosure
What is real property and what walks out with the tenant, the three description systems that all have to agree, the estates and co-ownership forms and how each passes on death, what a deed needs, what recording does, and the disclosure duties.
Contracts, Agency and Practice
What makes an agreement enforceable, what follows when someone does not perform, offer to acceptance to equitable title, how agency is created and what the duties require, listings and compensation after the 2024 changes, and fair housing.
Value, Finance and Math
Value against price and cost, the principles an appraiser reasons with, all three approaches and when each governs, the loan instruments and the federal disclosure rules, and the arithmetic: acreage, commission, net to seller, points, prorations.
Your State Portion
Everything above is the national portion. Your licensing exam has a second portion, scored separately, on your own state’s license law — and a right answer on the national paper can be a wrong answer there. Two states are built so far, each with a reference page and a quiz of its own.
Arkansas
Thirty scored questions, and two of the five areas carry twenty-two of them. The three-day trust fund rule and what starts the clock, the two agency disclosure timings, and why unlicensed activity here is a felony.
The real state portion is 30 scored questions. This set is 45 distributed across the same content areas in the same proportions — 1.5 times the exam, area for area, with a largest drift of 0.0 points.
Tennessee
Forty scored questions for the affiliate broker, and advertising is the heaviest area on the outline. Facilitator status, designated agency, the twenty-one day earnest money clock, and a disclosure that carries no right to terminate.
The real state portion is 40 scored questions. This set is 40 distributed across the same content areas in the same proportions — 1 times the exam, area for area, with a largest drift of 0.0 points.
Not your state? Each state portion has to be written from that state’s own statutes and commission rules, which is why there are two and not fifty. Finish either state quiz and the results screen will ask which one you need next.
The examiner states how many of the 80 scored questions come from each content area. Most study material ignores this and gives you as many questions on legal descriptions as on contracts, when the real exam gives you half as many. These 140 questions are distributed in the same proportions, and the build fails if any area drifts more than two points from where it should be. The largest gap in the set as built is 0.4 points.
| AREA | CONTENT | ON THE EXAM | EXAM SHARE | HERE |
|---|---|---|---|---|
| I | Real Property, Legal Descriptions and Property Use | 11 | 13.8% | 13.6% |
| II | Forms of Ownership, Transfer and Recording of Title | 9 | 11.2% | 11.4% |
| III | Property Value and Appraisal | 11 | 13.8% | 13.6% |
| IV | Real Estate Contracts and Agency | 16 | 20.0% | 20.0% |
| V | Real Estate Practice | 10 | 12.5% | 12.9% |
| VI | Property Disclosures and Environmental Issues | 9 | 11.2% | 11.4% |
| VII | Financing and Settlement | 7 | 8.8% | 8.6% |
| VIII | Real Estate Math Calculations | 7 | 8.8% | 8.6% |
Plus 5 unscored pretest questions on the real exam, which are not identified to you and which do not count either way.
Each quiz expands part of a reference guide into six themes, and each set runs to the length its material justifies rather than to a round number. Options are reshuffled every time you start, and every set was checked against all the others so no question is asked twice. One deliberate constraint runs through all of them: answer length carries no signal in either direction. Across all 140 questions the correct answer is the longest option 16 percent of the time and the shortest about as often, which is what chance would give you. Guarding only against the longest answer is how you end up with a set where picking the shortest wins instead.
There is no public pool of real exam questions for this test. The examiners state plainly that their item bank is copyrighted and that reproducing it is a crime, so every question here was written from the published content outline and from the underlying law — the Fair Housing Act, RESPA, Regulation Z and the rest — not lifted from anywhere. Your licensing exam also has a state portion, scored separately, covering your own license law, your commission's rules and your state's contract and agency requirements. Nothing on this page covers that, and a right answer here can still be wrong where you are licensed.