Free Practice Questions for REAC Qualifying Exam

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Sample REAC Qualifying Exam Practice Questions

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1Which Act of Parliament established the Real Estate Agency Council (REAC) to regulate real estate agency practice in Ghana?

A.Land Act, 2020 (Act 1036)

B.Real Estate Agency Act, 2020 (Act 1047)

C.Anti-Money Laundering Act, 2020 (Act 1044)

D.Lands Commission Act, 2008 (Act 767)

Explanation: The Real Estate Agency Act, 2020 (Act 1047) created the Real Estate Agency Council (REAC) and provides the legal framework for licensing and regulating real estate brokers, agents and developers in Ghana. It governs the sale, purchase, rental and leasing of real estate.

2Under the Real Estate Agency Act, 2020 (Act 1047), what is the principal regulatory function of the Real Estate Agency Council?

A.To value all real estate before any sale in Ghana

B.To register, license and regulate real estate agents, brokers and firms

C.To register land titles at the Lands Commission

D.To collect property rates on behalf of district assemblies

Explanation: REAC's core mandate under Act 1047 is to register, license and regulate real estate agents, brokers and firms, set practice standards, and investigate misconduct to protect consumers. It is a professional regulator, not a valuation or land-titling body.

3Under Act 1047, which of the following is a recognised route by which a person may obtain a licence to practise as a real estate broker or agent WITHOUT sitting the qualifying examination?

A.Being a registered valuation and estate surveyor with the Ghana Institution of Surveyors

B.Holding a national identity card and tax identification number

C.Owning at least one property in Ghana

D.Being a registered member of any trade association

Explanation: Act 1047 allows certain qualified persons to be licensed without sitting the general qualifying examination, including registered valuation and estate surveyors (GhIS), qualified lawyers, and licensed agents from other recognised jurisdictions. Their existing qualification is treated as evidence of competence.

4A candidate who is neither a lawyer nor a registered surveyor wishes to be licensed as a real estate agent in Ghana. What must they do under Act 1047?

A.Simply register with REAC and pay a fee

B.Pass a qualifying examination conducted by the Board or a designated testing service

C.Obtain a degree in law before applying

D.Practise for ten years before any licence is granted

Explanation: Under Act 1047, an individual who does not fall within an exemption category must pass a qualifying examination conducted by the Board (REAC) or by an independent testing service designated by the Board. Passing the exam is a condition for the grant of a licence.

5The qualifying examination under Act 1047 is designed to test a candidate's fair understanding of all of the following EXCEPT:

A.Principles of real estate practice and the basic law of agency

B.Professional ethics of real estate agency and the provisions of the Act

C.Rudimentary principles of economics relevant to real estate

D.Advanced structural engineering design of high-rise buildings

Explanation: Act 1047 frames the qualifying examination around real estate principles, the basic law of agency, real estate law, rudimentary economics, professional ethics and the provisions of the Act. Structural engineering design of buildings is outside the agency-practice curriculum.

6Under Act 1047, which body within REAC is responsible for designing the curricula and programme of studies for the licensing examinations?

A.The Education and Examinations Committee established by the Board

B.The Lands Commission valuation division

C.The Ministry of Finance

D.The Office of the Administrator of Stool Lands

Explanation: Act 1047 requires the Board to establish an Education and Examinations Committee (or engage a competent institution) to design the curricula, courses and duration of studies, and to assess and recommend examiners for appointment.

7A real estate firm applying for a licence under Act 1047 is a registered company. What does the Act require regarding its officers?

A.All shareholders must personally pass the qualifying examination

B.At least one officer or partner must be appointed as the representative who obtains the licence

C.The company need not appoint any licensed person

D.Only the company secretary may hold the licence

Explanation: For a corporate applicant, Act 1047 requires that at least one of its officers or partners be appointed as the representative to obtain the licence, and applications must be accompanied by an attestation that the officers have no criminal record.

8Act 1047 requires that an application by a company, society, association or partnership be accompanied by an attestation that its officers:

A.Hold university degrees in real estate

B.Do not have any criminal record

C.Are all citizens of Ghana

D.Have at least five years of trading history

Explanation: Act 1047 requires a corporate or partnership applicant to submit an attestation that its officers do not have any criminal record. This supports the Act's consumer-protection and fitness-and-propriety objectives.

9Which fees does the Minister, in consultation with the Minister for Finance, prescribe under Act 1047?

A.Stamp duty and capital gains tax rates

B.Examination fees, licence grant and renewal fees, and transaction recording fees

C.Mortgage interest rates charged by banks

D.Property rates levied by district assemblies

Explanation: Act 1047 empowers the Minister, in consultation with the Minister for Finance, to prescribe fees payable to the Council, including examination fees, the grant and renewal of licence fees, and fees for processing and recording transactions.

10Practising as a real estate agent in Ghana without a REAC licence under Act 1047 may expose the offender to:

A.A formal warning only with no penalty

B.Criminal penalties including fines and/or imprisonment

C.Automatic award of a licence after one year

D.Liability only to the seller, never to REAC

Explanation: Act 1047 makes unlicensed practice an offence and provides penalties, which can include fines and/or imprisonment. This enforcement backs the Act's mandatory licensing regime and consumer-protection aims.

About the REAC Qualifying Exam Exam

The REAC qualifying examination is the licensing assessment under the Real Estate Agency Act, 2020 (Act 1047) for individuals who wish to practise as real estate brokers or agents in Ghana and who do not qualify for an exemption (such as registered valuation and estate surveyors or qualified lawyers). It tests real estate practice, the basic law of agency, real estate and land law, rudimentary economics, professional ethics and the provisions of Act 1047.

Exam sponsor: Real Estate Agency Council (REAC), Ghana. The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

A multiple-choice (and, in some sittings, case-study) examination conducted by REAC's Education and Examinations Committee or a designated independent testing service, testing competence in real estate practice, agency and real estate law, basic economics, ethics and the provisions of Act 1047.

Time Limit

Set by REAC for each sitting; confirm the duration in your examination instructions.

Passing Score

REAC does not publish a single fixed pass mark. Candidates must demonstrate a fair understanding across the examined subjects; aim to score consistently above 70% in practice before sitting.

Exam / Certification Fees

Examination and licensing fees are prescribed under Act 1047 and set by REAC, and are reviewed periodically. Confirm the current examination, licence grant and renewal fees with REAC.

Exam sponsor website

Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.

Official sources

Our practice resources: topics covered

We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.

22%

Real Estate Agency Act 2020 (Act 1047) and REAC Licensing

Purpose and scope of Act 1047, REAC's mandate, routes to licence and exemptions, the qualifying examination, fees, the public registry and enforcement.

18%

Agency Law and Practice

Principal-agent relationship, actual and apparent authority, fiduciary duties, dual agency, skill and care, and termination of agency.

16%

Brokerage Transactions

Listing and commission agreements, valid land contracts, conveyancing, stamp duty, client funds, tenancies and the sale process.

22%

Ghana Land Tenure and Registration

Act 1036 interests in land, allodial title, customary versus statutory tenure, leaseholds, the non-citizen 50-year limit, stool land and title searches.

Property Valuation Basics

Market value, the comparative, cost and income methods, valuation principles, and the role of registered valuation and estate surveyors.

Anti-Money Laundering (Act 1044)

Customer due diligence, beneficial ownership, red flags, suspicious transaction reporting to the FIC, tipping-off and record-keeping.

Professional Ethics and Conduct

Honesty, confidentiality, disclosure, conflicts of interest, secret profits, advertising standards and disciplinary consequences.

Preparing for the REAC Qualifying Exam Exam

What You Need to Know

Passing score: REAC does not publish a single fixed pass mark. Candidates must demonstrate a fair understanding across the examined subjects; aim to score consistently above 70% in practice before sitting.
Assessment: A multiple-choice (and, in some sittings, case-study) examination conducted by REAC's Education and Examinations Committee or a designated independent testing service, testing competence in real estate practice, agency and real estate law, basic economics, ethics and the provisions of Act 1047.
Time limit: Set by REAC for each sitting; confirm the duration in your examination instructions.
Exam / certification fees: Examination and licensing fees are prescribed under Act 1047 and set by REAC, and are reviewed periodically. Confirm the current examination, licence grant and renewal fees with REAC. Official sources

Using Our Practice Resources

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REAC Qualifying Exam: Suggested Study Strategy

1Read the Real Estate Agency Act, 2020 (Act 1047) and the Land Act, 2020 (Act 1036) directly; the exam tests specific provisions such as the interests in land, the non-citizen 50-year leasehold limit and REAC's licensing and enforcement powers.

2Master the difference between customary and statutory tenure, the six interests in land (allodial title, customary and common law freehold, usufructuary interest, leasehold and customary tenancy), and the role of the Lands Commission and OASL.

3Do not neglect agency law, anti-money-laundering duties and professional ethics; questions on fiduciary duties, suspicious transaction reporting to the FIC, and conflicts of interest are common and are easy marks once revised.

Frequently Asked Questions

Who administers the REAC qualifying examination and under what law?

The examination is administered by the Real Estate Agency Council (REAC) under the Real Estate Agency Act, 2020 (Act 1047). REAC's Education and Examinations Committee, or an independent testing service designated by the Board, conducts the exam to license real estate brokers and agents in Ghana.

Do I have to sit the qualifying examination to be licensed in Ghana?

Not everyone does. Act 1047 allows certain persons to be licensed without the general qualifying examination, including registered valuation and estate surveyors (GhIS members) and qualified lawyers. Individuals who do not fall within an exemption must pass the qualifying examination.

What topics does the REAC qualifying examination cover?

It covers the Real Estate Agency Act 2020 (Act 1047) and REAC licensing, agency law and practice, brokerage transactions, Ghana land tenure and registration under the Land Act 2020 (Act 1036), property valuation basics, anti-money-laundering duties under Act 1044, and professional ethics and conduct.

Can a non-citizen own land in Ghana, and how should I advise foreign buyers?

A non-citizen cannot hold freehold or allodial title in Ghana but may take a leasehold not exceeding fifty years at any one time, consistent with the 1992 Constitution and the Land Act 2020. Always advise foreign buyers to conduct a title search and verify the grantor's authority.