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In order to become a Vermont real estate agent, you'll need to pass the real estate exam! Below are free Vermont real estate practice exam questions that will closely resemble your licensing exam. Review these questions and see what you know! The answers are provided beneath the question set.

1. Which of the following actions would result in the legal termination of an agency agreement?

  1. The client wants the seller to make improvements to the property.
  2. The client wants to attach an addendum to the sales contract.
  3. There is an unexpected death in the agent’s family.
  4. The term specified in the agency agreement expired.

2. When does offer and acceptance occur?

  1. When both parties sign a contract with a full understanding of the terms.
  2. When one party makes an offer on a property, and the seller turns it down.
  3. When one party makes an offer to a second party, and the second party makes a counter-offer.
  4. When one party signs a contract voluntarily with full understanding of the terms.

3. Which of these situations represents the illegal practice of blockbusting?

  1. Celia, a licensee, distributed a flyer in several neighborhoods, claiming that gentrification of those neighborhoods will increase property values.
  2. Corbin tells homeowners in Five Points that an impending influx of Asian immigrants will reduce property values.
  3. Estelle, a broker, warns potential clients about the upcoming zoning change in a neighborhood that is currently zoned as residential.
  4. Kian, a mortgage broker, refuses to underwrite mortgage applications from applicants who are Hispanic or Asian.

4. To be an effective property manager, a licensee must be familiar with a variety of ______.

  1. Agency disclosures
  2. Employment contracts
  3. Independent contractor agreements
  4. Lease agreements

5. Marilyn is reviewing the inspection report with her buyer clients. Which of the following issues in the report should Marilyn flag as most significant?

  1. Broken dishwasher
  2. Lack of deadbolts
  3. Non-working sump pump
  4. Presence of mold

6. What's the minimum number of business days prior to closing that lenders have to provide borrowers with the Closing Disclosure form?

  1. Five
  2. Four
  3. Three
  4. Two

7. A buyer is purchasing a property for $400,000. His lender’s loan-to-value ratio is 80%. How much is the buyer financing?

  1. $320,000
  2. $360,000
  3. $400,000
  4. $80,000

8. Seller Jamison is closing on his property with buyer Conrad. Jamison paid the current year's property taxes already. Is this a prepaid or accrued expense, and how will it be represented on the settlement statement?

  1. "The taxes are an accrued expense, and will appear as a buyer credit and a seller debit.
  2. The taxes are an accrued expense, and will appear as a buyer debit and a seller credit.
  3. The taxes are a prepaid expense, and will appear as a buyer credit and a seller debit.
  4. The taxes are a prepaid expense, and will appear as a buyer debit and a seller credit.
Answers: 1. D, 2. A, 3. B, 4. D, 5. D, 6. C, 7. A, 8. D

 

For a more comprehensive view into the types of questions you can expect on the exam, sign up for our free assessment. You’ll have the chance to review a 99-question real estate practice exam at no cost to you. Note that answers are only provided upon purchasing Exam Prep.

If you’re ready to feel confident about your upcoming licensing exam, you can purchase our Vermont real estate Exam Prep package. By purchasing one of our packages, you not only get to see the results from your free assessment, but you’ll also have access to an innovative Exam Prep Edge program that will put you in the best position to pass your test the first time around.

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Your free assessment consists of access to the Exam Prep Edge initial assessment exam that will give you immediate feedback on the topics you’ve mastered and the ones you still need to work on. Note that you’re required to purchase the program before you’re able to access the study materials or unlimited practice exams.

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What happens when my free trial ends?

When you complete your free assessment, your program will be locked until you decide to purchase. If you like the program, you can purchase at any time. Get started!

 

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