10 exam-style questions with answers and explanations, straight from our 1,030-question bank. Tap an answer to check yourself. When you're ready, take the scored version in the free practice test.
The VTREB exam has 100 questions and runs 2 hours 30 minutes.
These 10 free VTREB questions are organized by exam domain, so you can see how each part of the Vermont Real Estate Broker Exam blueprint is tested. Reveal the answer and explanation under each question.
Parcel Oak has a recorded easement appurtenant allowing driveway access over neighboring Parcel Pine. Oak is sold to a new owner, while Pine remains with its current owner. Absent contrary language or termination, what happens to the easement when Oak changes hands?
Correct answer: B - Oak remains the dominant estate, and the easement ordinarily passes with Oak.
An appraiser is valuing a house as of today. A comparable sold three months ago for $480,000. The comparable has a finished basement that contributes $25,000; the subject has none. Market prices have risen $10,000 since the sale. What is the comparable's adjusted sale price?
Correct answer: C - $465,000
A buyer received a Closing Disclosure on Monday for a scheduled Friday consummation. On Wednesday, the lender changes the loan from a fixed-rate mortgage to an adjustable-rate mortgage. Assume no federal holiday. What must happen before the loan can be consummated?
Correct answer: A - A corrected Closing Disclosure must be provided, followed by a new three-business-day waiting period.
On a covered conventional purchase loan, the principal balance is now 79% of the home's original value. The borrower submits a written cancellation request, is current, has the required good payment history, has no subordinate lien, and provides any permitted evidence that the property value has not declined. What PMI outcome is generally available under the Homeowners Protection Act?
Correct answer: B - The borrower may obtain cancellation on request; automatic termination generally occurs later at 78%.
A seller counters a buyer's offer at $515,000. The counteroffer states that it expires Friday at 5:00 p.m., but the buyer paid no option consideration. On Thursday morning, the seller accepts another offer and the listing broker communicates revocation of the counteroffer to the first buyer. That buyer attempts to accept on Thursday afternoon. What is the legal effect of the attempted acceptance?
Correct answer: A - No contract arises because the counteroffer was revoked before the buyer accepted it.
A purchase contract states that the buyer may terminate for a low appraisal only by delivering written notice no later than Thursday at 5:00 p.m.; otherwise the appraisal contingency is waived. The buyer receives a low appraisal on Monday but gives written notice on Friday. No other contingency applies. How does the missed deadline affect the buyer's appraisal protection?
Correct answer: D - The appraisal contingency was waived when the buyer missed the contractual notice deadline.
In a jurisdiction requiring licensees to disclose known material property defects, a seller privately tells the broker two things: the seller would accept $25,000 less than the list price, and water enters the basement after heavy rain even though fresh paint hides the staining. The seller instructs the broker to reveal neither fact. How should the broker distinguish the two facts?
Correct answer: D - Disclose the recurring water intrusion, but protect the seller's bargaining position unless authorized.
A burst supply line is flooding two occupied apartments. The leak is confined to those units, and no fire or electrical hazard is apparent. The owner cannot be reached. The management agreement authorizes emergency action but requires owner approval for nonemergency work over $1,000. What should the property manager do first?
Correct answer: D - Stop the water and dispatch qualified emergency help, then document and notify the owner and insurer.
A tenant in a no-pet apartment requests permission to keep a cat that provides disability-related emotional support. The disability and need are not obvious, and the tenant supplies reliable information supporting the need. Which response best complies with federal Fair Housing principles?
Correct answer: B - Approve the accommodation without a pet fee; ordinary charges for actual damage may still apply.
A property sells for $620,000. The seller owes a $355,000 mortgage payoff, a 5% commission, and $6,500 in other seller closing costs. Annual property taxes are $7,300, paid in arrears. Using a 365-day year, the seller owns the property for 100 days and is debited for that accrued share. What are the seller's net proceeds?
Correct answer: A - $225,500
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