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In order to become a South Dakota real estate agent, you'll need to pass the real estate exam! Below are free South Dakota 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 these statements accurately represents one of the required elements in a deed?

  1. The deed includes an act of conveyance.
  2. The grantee must be legally competent.
  3. The grantee must be of legal age.
  4. The grantee must sign the deed and provide consideration.

2. Which of the following is an example of commingling?

  1. "Mixing earnest money with personal funds
  2. Mixing two earnest money deposits
  3. Paying licensee bonuses from forfeited escrow deposits
  4. Using escrow funds to pay business expenses

3. " Alice owned a double lot on the waterfront. She sold the lot to Ronesha and included a deed restriction prohibiting construction of any building taller than one story. Ronesha wants a three-story house. What should she do?"

  1. Apply to the zoning board of appeals for a variance.
  2. Check to see if the building code will permit a larger house.
  3. Conform to the deed restriction.
  4. File a suit against Alice to have the restriction removed.

4. When considering loan risk, which two items will lenders consider in equal measure?

  1. "Borrower and property
  2. Credit and employment
  3. Debt and income
  4. Loan and value

5. Eva, Stella, and Lynn own a vacation home two blocks from the beach. Sadly, Stella passed away this winter, and so when summer arrives Eva and Lynn will be sharing the home with Stella’s nephew Drew, to whom Stella willed her share of the property. What type of ownership is this?

  1. Estate in severalty
  2. Joint tenancy
  3. Tenancy by the entirety
  4. Tenancy in common

6. Sylvia, who's 15 years old, and her neighbor Marge, who's 24, agree that Sylvia will babysit Marge’s toddler for the summer for $10 an hour. What type of contract is this?

  1. Enforceable
  2. Unilateral
  3. Valid
  4. Voidable

7. Which of the following statements about escrow accounts is correct?

  1. An escrow account is a temporary account that’s opened for use with a single transaction and closed after the transaction closes.
  2. An escrow account is held by either the buyer or seller, and houses the buyer’s earnest money until closing.
  3. Escrow accounts are managed by brokerage firms, and hold funds used to pay operating expenses and agent commissions.
  4. Escrow accounts are managed by escrow agents, and are used to hold funds belonging to others, such as earnest money deposits.

8. Allen and Lewis are friends who each recently purchased real estate. Allen purchased a patio home in a small town an hour from the city, while Lewis purchased a condo in a really hot area near the city center. Although they paid similar amounts for their properties, Lewis’ condo is worth much more two years later. Which economic characteristic does this demonstrate?

  1. Area preference
  2. Improvements
  3. Permanence
  4. Scarcity
Answers: 1. A, 2. A, 3. C, 4. A, 5. D, 6. D, 7. D, 8. A

 

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 South-Dakota 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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What happens when my free trial ends?

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