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Free Real Estate National Exam Flashcards

Memorize 50 essential terms and definitions for the Real Estate Salesperson National Exam (PSI). See the term, recall the definition, then flip to check yourself.

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Card 1 of 50Property Ownership

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About These Real Estate National Flashcards

These 50 flashcards are designed to help you memorize key terms and definitions for the Real Estate Salesperson National Exam (PSI). Each card shows a term on the front and its definition on the back—the classic flashcard format for vocabulary memorization. Use these alongside our practice questions to build both recall and comprehension.

Topics Covered

Property Ownership5 cards
Land Use Controls5 cards
Valuation & Market Analysis5 cards
Financing5 cards
Agency Relationships5 cards
Contracts5 cards
Fair Housing5 cards
Transfer of Title5 cards
Real Estate Math5 cards
Practice of Real Estate5 cards

Frequently Asked Questions

What is the Real Estate National exam pass rate?

The national average first-time pass rate for real estate exams is approximately 61%. However, rates vary significantly by state: Texas averages 56-67%, Florida around 47%, and California about 50%. Interestingly, candidates often pass the national portion at higher rates than state-specific sections. In North Carolina, for example, 82.8% pass the national portion versus only 59.4% on the state portion.

How many questions are on the Real Estate National exam?

The national portion typically contains 80 multiple-choice questions with a passing score requirement of 70% (56 correct answers). However, the full licensing exam combines national and state portions, ranging from 100-150 total questions depending on your state. For example, California has 150 questions, Massachusetts 120 questions (80 national, 40 state), and Texas 125 questions (85 national, 40 state).

What is the hardest part of the Real Estate exam?

Real estate math calculations (10-15% of the exam) are the most commonly cited difficult section, including depreciation, appreciation, and property valuation problems. The 'Practice of Real Estate and Mandated Disclosures' section is also challenging, making up approximately 25% of many state exams. State-specific laws and regulations often have lower pass rates than national topics - many candidates struggle with trust account management and local licensing requirements.

How long should I study for the Real Estate exam?

Successful first-time candidates typically spend 80 hours studying over 8-12 weeks. This breaks down to about 8 hours per week or 1-2 hours of focused study five days per week. This study time is in addition to completing your state's required pre-licensing education (60-180 hours depending on the state). Beginners without industry background should plan for 10-12 weeks with extra focus on terminology and vocabulary.

What is the Real Estate exam retake policy?

Retake policies vary by state, but most allow you to retake after just 24-48 hours. Key examples: California requires an 18-day wait between attempts. Tennessee requires 30 days after a second failed attempt. If you pass one section but fail the other, most states allow you to retake only the failed portion. Retake fees range from $35-$100 per attempt. There is no nationwide limit on attempts, but you must pass within your pre-licensing education validity period (typically 1-2 years).

What is the difference between national and state portions of the Real Estate exam?

The national portion covers general real estate principles, practices, and federal laws (Fair Housing, RESPA) that apply nationwide. The state portion tests your knowledge of state-specific laws, regulations, license requirements, and local practices. Some states combine scores from both sections, while others require you to pass each part independently. The national portion typically has 80 questions while state portions range from 30-50 questions.