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All these Guides and Answers are to help pass your Sales Associate ( Pre-License ) Course Test / Exam and your State Real Estate Sales Associate Exam for the states of Alabama, Alaska, Arkansas, Colorado, Connecticut, Delaware, Georgia, Illinois, Kansas, Kentucky, Maine, Missouri, Nebraska, North Carolina, Virginia, Washington and Wisconsin.

Are you ready to pass the Sales Associate (Pre-License) Course Test/Exam? We know how frustrating memorizing all the information to pass the exam can be. We have helped countless people pass the exam with our question and answer pages. SAVING YOU DAYS, WEEKS AND MONTHS OF STUDYING!

examples:

1 What does PITI stand for?
A. Principal (P), Interest (I), Income Taxes (T), and Insurance (I).
B. Principal (P), Interest (I), Property Taxes (T), and Insurance (I).
C. Primary (P), Interest (I), Tariffs (T), and Insurance (I).
D. Principal (P), Income (I), Property Taxes (T), and Insurance (I).

2 A property is secured by a mortgage that does not contain a "power of sale" clause. To foreclose, the lien holder will have to:
A. obtain a deed in lieu of foreclosure.
B. obtain a writ to extinguish the lien.
C. file a foreclosure suit.
D. file a deficiency suit.

3 A person's payment history comprises approximately __% of his or her FICO score.
A. 35
B. 30
C. 10
D. 15

4 Which Fair Housing Law added sex to the list of protected classes?
A. Housing and Community Development Act
B. Fair Housing Amendments Act
C. Housing and Neighborhood Development Act of 1974
D. Title VIII of the Civil Rights Act of 1968

5 When a seller signs a listing agreement, who are the actual contract parties?
A. Seller and Licensee
B. Seller and MLS Association
C. Seller and Managing Broker
D. Licensee and Cooperating Broker

6 What is the best response to questions regarding neighborhood safety?
A. Refer the client to law enforcement records.
B. Explain that you feel safe in the neighborhood.
C. Explain that no records are kept on neighborhood crime.
D. Respond with specific facts.

7 Which statement is true about a comparative market analysis (CMA)?
A. A CMA is the same as an appraisal.
B. It can help a seller decide what to ask for the property.
C. An agent is obligated to complete a CMA on each listing he or she takes.
D. It is not a valid way to arrive at market value.

8 Under Illinois law, what must the residential seller do with respect to radon?
A. Provide the buyer with mitigation options
B. Provide the buyer with the Illinois Disclosure of Information on Radon Hazard form.
C. Provide the buyer with the HUD Disclosure of Information on Radon Hazard form.
D. Remove the property from the market until the situation is corrected.

9 A house is being appraised using the sales comparison approach. The house has three bedrooms, two bathrooms, and a patio. The appraiser selects a comparable house that has three bedrooms, 2.5 bathrooms, and no patio. The comparable house just sold for $200,000. A half-bath is valued at $10,000, and a patio at $2,000. Assuming all else is equal, what is the adjusted value of the comparable?
A. $188,000
B. $192,000
C. $208,000
D. $190,000

10 Why is a buyer's agency agreement good for the licensee?
A. It's less money for the broker.
B. The licensee's hard work is rewarded with buyer loyalty.
C. Buyers can work with more than one agent.
D. Sellers can choose an exclusive agent.

11 A seller was willing to sell her property, but only if she would net $150,100 from the sale after paying a 5% commission. What would be the selling price of the property to net $150,100?
A. $158,000
B. $156,000
C. $155,000
D. $160,000

12 Getting paid by the buyer before showing a property is an example of:
A. A bonus
B. A retainer fee
C. Referral fee
D. A transaction fee

13 Which legal description makes use of principal meridians and base lines?
A. Metes and bounds
B. The recorded plat system
C. The Public Land Survey System
D. The computer-assisted surveying system

14 Which of the following information would you not collect for a listing?
A. Listing Price
B. Owner's Name
C. Bank account numbers
D. Street Number

15 What information was added to the Property Condition Disclosure Report in 2010?
A. Radon
B. Meth lab
C. Lead-based paint
D. Termites

16 How might a licensee hide the true identity of his or her client on a sales offer?
A. Insert "and/or assigns" in the buyer's line.
B. Insert "NA" on the buyer's line.
C. Complete an open sales offer.
D. Leave blank the buyer's line.

17 Which of these items is important to include on your weekly listing activity report?
A. Your advertising budget
B. Agent comments about the property
C. An updated price reduction strategy
D. Number of competing property listings you obtained

18 Which of the following is considered a fixed operating expense?
A. Utilities.
B. Cleaning expenses.
C. Insurance premiums.
D. Management fees.

19 The Illinois Supreme Court decision in the Chicago Bar Association, et al., vs. Quinlan and Tyson, Inc. case prohibits which of the following parties from preparing formal closing statements?
A. Real estate licensees unless that licensee is also an attorney.
B. The buyer’s lender.
C. The lender’s agent (typically this is a title insurance company).
D. The seller’s lawyer.

20 What is the customary form of agency representation in Illinois?
A. Disclosed agency
B. Basic agency
C. Designated agency
D. Agency at large

21 A builder owns ½ acre of land with a front footage of 80 feet along the street. What is the depth of the land?
A. 136.125 feet
B. 272.25 feet
C. 544.5 feet
D. 1,089 feet

22 What is the main purpose of a mortgage Loan Estimate form?
A. To provide the lender with a standard to measure loan offers.
B. To provide a means for the federal government to control lending rates
C. To provide a means for borrowers to comparison shop more effectively for competing loan offers
D. To detect fraudulent loan practices