Free Delaware Real Estate Practice Test (2026) — LicenseIQ

Question 1

Which Article of the NAR Code of Ethics requires REALTORS not to deny equal professional services or discriminate on protected characteristics?

Accepted Answer

Article 10 addresses equal professional services and fair housing. Article 1 covers duties to clients, Article 3 cooperation and Article 17 arbitration.

Question 2

To qualify as a first-time homebuyer for the transfer tax reduction, the buyer must:

Accepted Answer

30 Del. C. §5401(2).

Question 3

A utility company's right to run power lines across many private lots is an easement:

Accepted Answer

An easement in gross benefits a person or entity and has no dominant estate; utility easements are the classic example.

Question 4

A short-term loan used to buy a new home before the borrower's current home sells is a:

Accepted Answer

A bridge loan 'bridges' the gap between buying and selling and is typically repaid within about 12 months when the old home sells.

Question 5

In a CMA, active listings are most useful for showing:

Accepted Answer

Sold comps show actual prices paid; pending sales show demand; active listings show competition.

Question 6

Which item must the Commission's seller disclosure form address under §2578?

Accepted Answer

§2578(c) (also fire sprinkler notice for new construction and radon test results).

Question 7

The government's power to take private property for public use with just compensation is:

Accepted Answer

Eminent domain (exercised through condemnation) allows taking for public use with just compensation. Escheat applies when an owner dies without a will or heirs.

Question 8

After the buyer and seller sign the Condition Report, it:

Accepted Answer

6 Del. C. §2573; §2574 says it is not a warranty.

Question 9

In a life estate, the person who receives the property when the life tenant dies is the:

Accepted Answer

The life tenant has a present interest; the remainderman holds a future interest. If the property returns to the grantor, it is a reversion.

Question 10

A landlord sells an apartment building with tenants under 12-month leases. The leases:

Accepted Answer

Leases run with the property; the buyer takes title subject to existing leases and inherits the landlord's obligations.

Question 11

Inducing owners to sell by suggesting people of a protected class are moving in is:

Accepted Answer

Blockbusting (panic peddling) is illegal under the Fair Housing Act.

Question 12

A furnace that worked at settlement fails two weeks later. Under §2575 the buyer:

Accepted Answer

6 Del. C. §2575(3).

Question 13

Using an amortization factor of 4.77415 per $1,000 (30 years at 4%), what is the monthly principal and interest payment on a $250,000 loan?

Accepted Answer

$250,000 / $1,000 = 250; 250 x 4.77415 = $1,193.54.

Question 14

Which appraiser credential allows appraisal of any type of property, residential or commercial, without a value limit?

Accepted Answer

Certified General appraisers may appraise any property. Certified Residential appraisers are limited to 1-4 unit residential; Licensed Residential to noncomplex 1-4 units under $1 million.

Question 15

Two brokers agree not to cooperate with a discount brokerage in order to drive it out of business. This is:

Accepted Answer

Agreeing with competitors to refuse to deal with another business is an illegal group boycott.

Question 16

On a $600,000 sale with full local tax, how much of the total transfer tax goes to the State?

Accepted Answer

State rate 2.5% × $600,000 = $15,000; local 1.5% = $9,000; total $24,000.

Question 17

The seller of a rental property collected $1,800 rent for the month on the 1st. Closing is on the 10th, and the seller owns the day of closing (30-day month). What is the rent proration?

Accepted Answer

Daily rent = $1,800 / 30 = $60. Buyer owns days 11-30 = 20 days. 20 x $60 = $1,200, credited to the buyer because the seller collected rent for days the buyer will own.

Question 18

An agent tells a buyer he will show homes only if the buyer uses the agent's brother as mortgage broker. This is an illegal:

Accepted Answer

Conditioning one service on the purchase of another is a tying arrangement prohibited by antitrust law.

Question 19

A salesperson is first licensed 10 months before the April 30 renewal date. How many CE hours are required for that renewal?

Accepted Answer

Rule 14.2: 6 to under 12 months requires 6 hours in 2 modules.

Question 20

When competing brokerages agree to charge the same commission rate, they commit:

Accepted Answer

Agreeing on commissions among competitors is illegal price fixing under the Sherman Antitrust Act; commissions must be set independently and are always negotiable.

Question 21

The document issued by a VA-approved appraiser for a VA loan is the:

Accepted Answer

The VA appraiser issues a CRV. The Certificate of Eligibility establishes the veteran's entitlement before applying.

Question 22

The minimum age for a Delaware salesperson license is:

Accepted Answer

§2907(b) sets 18 for salespersons; 23 is the associate broker minimum.

Question 23

A candidate fails the state portion of the salesperson exam for the third time. What must the candidate do?

Accepted Answer

Rule 2.0 requires passing each portion within 3 attempts; otherwise the prelicensing course must be repeated.

Question 24

A licensee disagrees with a final Commission disciplinary decision. Where and when may it be appealed?

Accepted Answer

§2913 sends appeals to Superior Court within 30 days, decided on the record. The JP Court handles unlicensed-practice prosecutions.

Question 25

A landlord must return a security deposit (with an itemized list of deductions) within:

Accepted Answer

25 Del. C. §5514(f).

Delaware real estate practice test

1. Which Article of the NAR Code of Ethics requires REALTORS not to deny equal professional services or discriminate on protected characteristics?

2. To qualify as a first-time homebuyer for the transfer tax reduction, the buyer must:

3. A utility company's right to run power lines across many private lots is an easement:

4. A short-term loan used to buy a new home before the borrower's current home sells is a:

5. In a CMA, active listings are most useful for showing:

6. Which item must the Commission's seller disclosure form address under §2578?

7. The government's power to take private property for public use with just compensation is:

8. After the buyer and seller sign the Condition Report, it:

9. In a life estate, the person who receives the property when the life tenant dies is the:

10. A landlord sells an apartment building with tenants under 12-month leases. The leases:

11. Inducing owners to sell by suggesting people of a protected class are moving in is:

12. A furnace that worked at settlement fails two weeks later. Under §2575 the buyer:

13. Using an amortization factor of 4.77415 per $1,000 (30 years at 4%), what is the monthly principal and interest payment on a $250,000 loan?

14. Which appraiser credential allows appraisal of any type of property, residential or commercial, without a value limit?

15. Two brokers agree not to cooperate with a discount brokerage in order to drive it out of business. This is:

16. On a $600,000 sale with full local tax, how much of the total transfer tax goes to the State?

17. The seller of a rental property collected $1,800 rent for the month on the 1st. Closing is on the 10th, and the seller owns the day of closing (30-day month). What is the rent proration?

18. An agent tells a buyer he will show homes only if the buyer uses the agent's brother as mortgage broker. This is an illegal:

19. A salesperson is first licensed 10 months before the April 30 renewal date. How many CE hours are required for that renewal?

20. When competing brokerages agree to charge the same commission rate, they commit:

21. The document issued by a VA-approved appraiser for a VA loan is the:

22. The minimum age for a Delaware salesperson license is:

23. A candidate fails the state portion of the salesperson exam for the third time. What must the candidate do?

24. A licensee disagrees with a final Commission disciplinary decision. Where and when may it be appealed?

25. A landlord must return a security deposit (with an itemized list of deductions) within:

Sources