Real Estate License Exam Prep — Module 1 Quiz
The License Exam & Getting Licensed

Q1. A salesperson lists homes in Ohio. Which statement is true?
A) The salesperson may operate independently once licensed.
B) The salesperson must work under the supervision of a managing broker.
C) The salesperson does not need a license if compensated by salary.
D) The salesperson's license is issued by the National Association of Realtors.
ANSWER: B

Q2. An agent lets her license go inactive while taking a year off. What is the result?
A) She may still conduct real estate activities occasionally.
B) She may not practice until the license is reactivated.
C) She must retake the entire pre-licensing course.
D) Her license automatically becomes a broker license.
ANSWER: B

Q3. Which person is accountable for transactions completed under a brokerage?
A) The salesperson who signs the listing.
B) The client or principal.
C) The managing broker.
D) The closing agent.
ANSWER: C

Q4. What is a primary difference between a Realtor and a licensee?
A) A Realtor is a membership designation, not a license type.
B) Only Realtors may sell real estate.
C) Licensees must join the NAR to practice.
D) Realtor is a license type issued by the state.
ANSWER: A

Q5. Which is NOT one of the six fiduciary duties (COLDAC)?
A) Confidentiality
B) Accounting
C) Obedience
D) Marketing
ANSWER: D