Free IN-REB Practice Questions

Question 1

A tenant operates a bakery and installs a commercial convection oven bolted to the floor and connected to a dedicated gas line. The lease is silent about the oven. Two weeks before the lease expires, the tenant plans to remove it and repair the floor and gas connection. Which conclusion is most accurate?

Accepted Answer

It is a trade fixture removable before lease expiration if the tenant repairs the damage.

Answer

It became the landlord's fixture because the bolted installation and gas connection show permanent annexation.

Answer

It may be removed only after the lease expires and only with a court order.

Answer

It remains personal property only if the lease expressly reserves it to the tenant.

Question 2

During a pre-closing visit to a duplex, a buyer discovers a family occupying one unit. The seller says there is no lease, and the title search reveals none. What should the buyer do before taking title?

Accepted Answer

Investigate the occupants' claim because visible possession can create inquiry notice.

Answer

Rely on the title search because an unrecorded possessory claim cannot affect a purchaser.

Answer

Treat the occupants as tenants at sufferance and arrange their removal after closing.

Answer

Delay any inquiry until after closing because possession is a property-management issue rather than a title issue.

Question 3

A subject property has a renovated kitchen but no garage. A comparable sold for $465,000 and has a garage but an inferior kitchen. Market evidence supports a $28,000 garage adjustment and a $16,000 kitchen adjustment. Adjusting the comparable to match the subject, what value does this sale indicate?

Accepted Answer

$453,000

Answer

$421,000

Answer

$477,000

Answer

$509,000

Question 4

An appraiser concludes that a small apartment project would produce the greatest financial return on a parcel. Current zoning permits only single-family use, and the record provides no reasonable basis to expect rezoning or a variance. How should the apartment use be treated in the highest-and-best-use analysis?

Accepted Answer

Reject it because the proposed use is not legally permissible.

Answer

Adopt it because maximum productivity overrides the other tests.

Answer

Use it only in the income approach and exclude it from the final reconciliation.

Answer

Average its indicated value with the value of the permitted single-family use.

Question 5

A buyer offers $410,000 with a June 14 closing. The seller signs the form after changing the price to $420,000 and the closing date to June 28, then returns it to the buyer. The seller later tries to accept the buyer's original terms. What is the legal effect of the seller's signed response?

Accepted Answer

It was a counteroffer, so the original offer was rejected unless the buyer revives it.

Answer

It accepted the original offer because the seller signed the same document.

Answer

It merely suspended the original offer until the buyer accepts or rejects the changes.

Answer

It formed a contract on the seller's terms because the buyer had already signed the form.

Question 6

Before a purchase agreement is signed, a seller intentionally conceals a known boundary dispute that materially impairs the property's only practical access. The buyer signs without discovering the dispute. Assuming the other contract elements are present, how is the agreement classified at the buyer's election?

Accepted Answer

Voidable because the buyer's assent was induced by material fraud.

Answer

Void from inception because any misrepresentation eliminates all contract formation.

Answer

Unenforceable solely because the boundary dispute was not recorded.

Answer

Fully executed because both parties signed before the defect was discovered.

Question 7

A buyer tells her agent, 'I can go $25,000 above my current offer, but do not disclose that.' The listing agent then asks whether the buyer has room to increase. No law requires disclosure. How should the buyer's agent respond?

Accepted Answer

Keep the ceiling confidential and continue negotiating within the buyer's authority.

Answer

Disclose the ceiling because it could help the parties reach agreement.

Answer

Say the buyer is flexible without revealing the exact amount.

Answer

Terminate the agency before answering so confidentiality no longer applies.

Question 8

A community publishes and follows policies showing an intent to house persons age 55 or older and uses reliable age-verification procedures. Its latest occupancy review shows that 79% of occupied units contain at least one resident age 55 or older. Under the federal familial-status exemption, the community:

Accepted Answer

does not qualify because it has not met the 80% occupied-unit threshold.

Answer

qualifies because written policies and age verification replace the occupancy test.

Answer

qualifies as long as no children currently live there.

Answer

is exempt from every Fair Housing Act protected class once it adopts a 55-or-older policy.

Question 9

Owners of several competing brokerages agree that none of their firms will enter a buyer-representation agreement for less than a 2.5% fee. The competitors' agreement is:

Accepted Answer

Horizontal price fixing, even if each firm believes the minimum fee is reasonable.

Answer

A lawful professional standard because each firm remains free to charge more than the agreed minimum.

Answer

Market allocation because the firms divided customers by fee level.

Answer

A permissible MLS rule if the minimum is disclosed publicly.

Question 10

A long-term radon test in a home reports 4.6 pCi/L. The buyer asks what the result means before the inspection contingency expires. Which response is most consistent with EPA guidance?

Accepted Answer

EPA recommends fixing a home at 4 pCi/L or more, using a qualified radon professional.

Answer

The result is below the federal action level, so no further response is indicated.

Answer

The home must be declared uninhabitable and the transaction canceled immediately.

Answer

Repeat a short-term test and act only if the average of the two results is at least 4 pCi/L.

Free IN-REB Practice Questions

Domain 1: Real Property Characteristics, Legal Descriptions, and Property Use

Question 1

Domain 2: Forms of Ownership, Transfer, and Recording of Title

Question 2

Domain 3: Property Value and Appraisal

Question 3

Question 4

Domain 4: Real Estate Contracts and Agency

Question 5

Question 6

Question 7

Domain 5: Real Estate Practice

Question 8

Question 9

Domain 6: Property Disclosures and Environmental Issues

Question 10

The rest of the IN-REB blueprint

That's 10 of 1,030