Free Nebraska Real Estate Broker Licensing Examination — State-Specific Portion Practice Questions

Sample Practice Questions

Try these 10 sample questions from the Nebraska Real Estate Broker Licensing Examination — State-Specific Portion practice bank. Each includes the answer and explanation. Continue with the interactive practice above to review the full question set.

1. 1Which body issues Nebraska real estate broker licenses?

   1. A. State Real Estate Commission
   2. B. Secretary of State
   3. C. Department of Banking
   4. D. County clerk

   Answer: A

   Explanation: The Nebraska Real Estate License Act assigns broker licensing to the State Real Estate Commission. Controlling text: "full power to regulate the issuance of licenses".

   Reference: Ne Real Estate License Act — § 81-885.10

2. 2What is Nebraska's minimum age for an original broker applicant?

   1. A. 19
   2. B. 18
   3. C. 20
   4. D. 21

   Answer: A

   Explanation: An original broker or salesperson applicant must be at least nineteen years old. Controlling text: "attained the age of nineteen years".

   Reference: Nebraska Legislature — § 81-885.13(1)

3. 3A property manager receives a tenant security deposit on behalf of an owner. Where must the broker generally place it?

   1. A. The broker's designated trust account
   2. B. The broker's personal account
   3. C. The office petty-cash drawer
   4. D. The salesperson's operating account

   Answer: A

   Explanation: Funds received for another in property management are trust funds and generally belong in the broker's separate designated trust account. Controlling text: "downpayments, earnest money deposits, or other trust funds".

   Reference: Ne Real Estate License Act — § 81-885.21(1)

4. 4May payment of compensation alone create an agency relationship?

   1. A. No; payment by itself does not establish agency
   2. B. Yes; the party paying becomes the principal
   3. C. Yes; the party receiving becomes the agent
   4. D. Yes; shared compensation creates dual agency

   Answer: A

   Explanation: Nebraska agency law states that payment of compensation by itself does not establish agency. Controlling text: "Payment of compensation by itself shall not establish an agency relationship".

   Reference: Ne Article 24 — § 76-2424(2)

5. 5Who may sell or offer for sale subdivision real estate covered by the Act?

   1. A. A Nebraska broker and duly licensed employees
   2. B. Any unlicensed promoter
   3. C. Only a county assessor
   4. D. Only a lender

   Answer: A

   Explanation: Section 81-885.33 requires covered subdivision sales to be made by a broker and duly licensed employees. Controlling text: "except by a broker and his or her employees duly licensed in this state".

   Reference: Ne Real Estate License Act — § 81-885.33

6. 6The Commission needs rules to administer the License Act. What may it do?

   1. A. Adopt and promulgate necessary rules
   2. B. Amend statutes without legislation
   3. C. Create county taxes
   4. D. License attorneys

   Answer: A

   Explanation: The Act authorizes the Commission to adopt and promulgate rules necessary to administer it. Controlling text: "adopt and promulgate rules and regulations".

   Reference: Nebraska Legislature — § 81-885.13

7. 7Which examination must an initial Nebraska broker applicant pass?

   1. A. A written broker examination
   2. B. An oral broker examination
   3. C. A practical broker examination
   4. D. A portfolio-based broker assessment

   Answer: A

   Explanation: Section 81-885.13 expressly requires each broker applicant to pass a written examination. Controlling text: "shall pass a written examination".

   Reference: Nebraska Legislature — § 81-885.13(6)

8. 8A branch office maintains its own trust account. What additional control is required?

   1. A. A separate bookkeeping system at the branch
   2. B. No records at the branch
   3. C. Deposit all money in a county fund
   4. D. Use an uninsured account

   Answer: A

   Explanation: Nebraska requires a separate bookkeeping system when a branch office maintains a separate trust account. Controlling text: "a separate bookkeeping system shall be maintained in the branch office".

   Reference: Ne Real Estate License Act — § 81-885.21(5)

9. 9A licensee acts for both parties without either party's knowledge. How is this classified?

   1. A. An unfair trade practice
   2. B. Automatic appointed agency
   3. C. A branch-office issue
   4. D. A lawful owner sale

   Answer: A

   Explanation: Acting for more than one party without the knowledge of all represented parties violates section 81-885.24(23). Controlling text: "Acting for more than one party in a transaction without the knowledge of all parties".

   Reference: Ne Real Estate License Act — § 81-885.24(23)

10. 10Before covered subdivision real estate is offered, what must the applicant obtain?

    1. A. A subdivision certificate through Commission application
    2. B. A salesperson transfer
    3. C. A fair housing waiver
    4. D. An oral county approval only

    Answer: A

    Explanation: The Act requires a written application for a subdivision certificate before the property is offered for sale. Controlling text: "Prior to the time when such subdivision real estate is offered for sale".

    Reference: Ne Real Estate License Act — § 81-885.34