Free Nebraska Real Estate Practice Test (2026) — LicenseIQ

Question 1

Absent a written agreement with the designated broker stating compensation terms, can a buyer be obligated to pay the licensee a fee?

Accepted Answer

76-2416 says the agency statutes do not obligate a buyer or tenant to pay compensation unless there is a written agreement with the designated broker specifying the terms.

Question 2

After the buyer and seller sign a sales contract but before closing, the contract is:

Accepted Answer

A contract is executory while obligations remain to be performed; it becomes executed when fully performed (at closing).

Question 3

Where must a Nebraska broker's trust account be located?

Accepted Answer

81-885.21 requires the trust account to be at a qualifying financial institution located in Nebraska.

Question 4

Which activity may an unlicensed assistant generally perform?

Accepted Answer

Unlicensed staff may perform clerical tasks like typing licensee-prepared ads, but may not compose ads, negotiate or show property.

Question 5

In general, a 'stigmatized' property refers to one:

Accepted Answer

Stigmatized properties are affected by events (crime, death) rather than physical condition; disclosure rules vary by state. (Well-established principle; not detailed in the course.)

Question 6

A house is L-shaped: one section is 40 ft by 30 ft and the other is 20 ft by 15 ft. At $185 per square foot, what is the estimated cost to build?

Accepted Answer

Area = (40 x 30) + (20 x 15) = 1,200 + 300 = 1,500 sq ft; 1,500 x $185 = $277,500.

Question 7

When the respondent in a Commission complaint is a salesperson, who else must receive a copy of the hearing notice?

Accepted Answer

If the licensee is an associate broker or salesperson, 81-885.25 requires a copy to go to the employing broker at the broker's last-known business address.

Question 8

Radon is:

Accepted Answer

Radon is a colorless, odorless, naturally occurring radioactive gas that can enter homes through the foundation; it is the second leading cause of lung cancer.

Question 9

When a tenant in common dies, that owner's share:

Accepted Answer

Tenancy in common has NO right of survivorship, so a deceased co-owner's interest passes by will or to heirs. Automatic passage to co-owners describes joint tenancy.

Question 10

A buyer purchases a subdivision lot without seeing it. Under the contract terms 81-885.34 requires, what right does the buyer have?

Accepted Answer

Required contracts must give a buyer who has not seen the land a full refund if exercised within 14 days of inspection, with inspection no sooner than four months after the contract date.

Question 11

Which duty does a seller's agent owe to a buyer who is a customer, not a client?

Accepted Answer

Customers are owed HARD duties - Honesty, Accounting, Reasonable skill and care, and Disclosure of material facts - but not loyalty, obedience or confidentiality.

Question 12

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 13

An owner's home is exclusively listed with another firm. When may a Nebraska licensee discuss terms of a future listing with that owner?

Accepted Answer

81-885.24(15) prohibits discussing future listing terms with an owner whose property is exclusively listed elsewhere, unless the owner starts the discussion.

Question 14

A single-family home rents for $2,100 per month. Comparable homes sell at an ANNUAL gross rent multiplier of 12. What is the estimated value?

Accepted Answer

Annual rent = $2,100 x 12 = $25,200; value = $25,200 x 12 = $302,400.

Question 15

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 16

The periodic report a property manager gives the owner showing rents and other income collected and expenses paid for the period is the:

Accepted Answer

The income statement (P&L) summarizes income and expenses for the accounting period, typically monthly.

Question 17

A licensee's renewal was due November 30 and is filed on February 12. What is the maximum late penalty under 81-885.14?

Accepted Answer

The penalty is up to $25 per month or part of a month starting December 1. December, January and part of February are three months, so 3 x $25 = $75.

Question 18

Which Nebraska broker is not required to maintain a trust account?

Accepted Answer

81-885.21 requires every broker except an inactive broker to maintain a trust account. The Commission may also waive it for an active broker with no trust activity.

Question 19

A licensee charged in a Commission complaint wants to avoid a contested hearing. What may the licensee do?

Accepted Answer

81-885.25 gives a right to a hearing unless the licensee waives it and signs a consent order. Transferring a license does not affect the Commission's jurisdiction.

Question 20

A licensee records a listing agreement against a property to pressure the owner, though no valid claim exists. This is what?

Accepted Answer

81-885.24(25) prohibits filing a listing contract or lien document to cloud title when no valid claim exists.

Question 21

A title search shows owner A conveyed to B, but the next record shows C as owner with no deed from B. This is an example of:

Accepted Answer

Gaps in the chain or unreleased liens are clouds that must be cleared (e.g., by quitclaim deed or quiet title action) before title is marketable.

Question 22

Which legal description method uses a point of beginning, courses, and distances?

Accepted Answer

Metes and bounds describes boundaries by direction and distance (metes) and markers (bounds), returning to the point of beginning.

Question 23

A buyer and seller each demand the earnest money after a failed deal. No lawsuit has been filed. What should the broker do?

Accepted Answer

Disputed funds stay in trust until both parties agree in writing or a civil action is filed, at which point the broker may pay them into court.

Question 24

In a commercial building, the area that includes the tenant's usable space plus a share of common areas such as lobbies and hallways is the:

Accepted Answer

Rentable area = usable area plus a pro rata share of common areas, so it is always larger than usable area.

Question 25

A property manager authorized to collect rents, sign leases, hire contractors and run the owner's buildings on an ongoing basis is typically a:

Accepted Answer

A general agent handles a range of matters in a continuing relationship (typical of property management). A listing agent is a special (limited) agent for one transaction.

Nebraska real estate practice test

1. Absent a written agreement with the designated broker stating compensation terms, can a buyer be obligated to pay the licensee a fee?

2. After the buyer and seller sign a sales contract but before closing, the contract is:

3. Where must a Nebraska broker's trust account be located?

4. Which activity may an unlicensed assistant generally perform?

5. In general, a 'stigmatized' property refers to one:

6. A house is L-shaped: one section is 40 ft by 30 ft and the other is 20 ft by 15 ft. At $185 per square foot, what is the estimated cost to build?

7. When the respondent in a Commission complaint is a salesperson, who else must receive a copy of the hearing notice?

8. Radon is:

9. When a tenant in common dies, that owner's share:

10. A buyer purchases a subdivision lot without seeing it. Under the contract terms 81-885.34 requires, what right does the buyer have?

11. Which duty does a seller's agent owe to a buyer who is a customer, not a client?

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

13. An owner's home is exclusively listed with another firm. When may a Nebraska licensee discuss terms of a future listing with that owner?

14. A single-family home rents for $2,100 per month. Comparable homes sell at an ANNUAL gross rent multiplier of 12. What is the estimated value?

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

16. The periodic report a property manager gives the owner showing rents and other income collected and expenses paid for the period is the:

17. A licensee's renewal was due November 30 and is filed on February 12. What is the maximum late penalty under 81-885.14?

18. Which Nebraska broker is not required to maintain a trust account?

19. A licensee charged in a Commission complaint wants to avoid a contested hearing. What may the licensee do?

20. A licensee records a listing agreement against a property to pressure the owner, though no valid claim exists. This is what?

21. A title search shows owner A conveyed to B, but the next record shows C as owner with no deed from B. This is an example of:

22. Which legal description method uses a point of beginning, courses, and distances?

23. A buyer and seller each demand the earnest money after a failed deal. No lawsuit has been filed. What should the broker do?

24. In a commercial building, the area that includes the tenant's usable space plus a share of common areas such as lobbies and hallways is the:

25. A property manager authorized to collect rents, sign leases, hire contractors and run the owner's buildings on an ongoing basis is typically a:

Sources