- Property ownership: estates, joint tenancy, easements, liens, government powers (PETE)
- Land description: metes and bounds, rectangular survey, lot and block
- Contracts: elements, statute of frauds, options, contingencies, earnest money
- Agency: fiduciary duties (OLDCAR), listing types, disclosure, dual agency
- Finance: loan types, points, LTV, RESPA, TRID, PMI
- Valuation: sales comparison, cost and income approaches; depreciation
- Fair housing: protected classes, steering, blockbusting, redlining
- Math: commissions, prorations, square footage, cap rates
USA Real Estate Exam: Quick Facts
- Who regulates
- Each state’s real estate commission
- Format
- Multiple choice; national + state portions or one combined exam
- Typical passing score
- 70%–75% (varies by state)
- Test vendors
- PSI, Pearson VUE and others
- Prelicensing education
- Roughly 40–180 hours depending on state
- Retakes
- Allowed, usually with a fee
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Disclaimer: This guide is for general information. Rules, fees and procedures can change. Confirm the current requirements with the official agency listed in the sources. Read our editorial policy.