Free Practice Questions for Licensed Real Estate Agent Exam

Exam-style questions and explanations by OpenExamPrep.

✓ No registration✓ No credit card

100+ Questions

100% Free

Loading practice questions...

Same family resources

Explore More South Korea Real Estate Professional Licensing Examinations (국토교통부 / Q-Net)

Continue into nearby exams from the same family. Each card keeps practice questions, study guides, flashcards, videos, and articles in one place.

Korea Certified Apartment Housing Manager Assistant Exam (주택관리사보 자격시험, South Korea)

Practice Questions100 questions

Korea Certified Property Appraiser Exam (감정평가사 자격시험, South Korea)

Practice Questions100 questions

Sample Licensed Real Estate Agent Exam Practice Questions

Try these sample questions to review concepts for the Licensed Real Estate Agent Exam exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Which of the following natural characteristics of real estate explains why land cannot be physically moved or relocated, giving rise to localized real estate markets (국지성) and necessitating on-site field inspections (임장활동)?

A.Immobility (부동성)

B.Indestructibility (영속성)

C.Heterogeneity (개별성)

D.Adjacency (인접성)

Explanation: Immobility (부동성) refers to the physical incapacity of land to be moved from one geographical location to another. This characteristic creates localized submarkets where supply and demand are determined locally and makes direct on-site physical inspection (임장활동) essential for appraisal and brokerage.

2In Korean real estate studies, which of the following is classified as 'quasi-real estate' (준부동산 / 의제부동산) subject to public registration and mortgage creation similar to immovable property?

A.Unregistered building structures under construction

B.Easements established over neighboring land parcels

C.Removable agricultural greenhouse structures

D.Registered construction heavy machinery (등록된 건설기계)

Explanation: Under Korean legal and economic doctrine, quasi-real estate (준부동산) consists of specific movable properties or rights aggregates—such as registered construction machinery, registered automobiles, registered vessels of 20 tons or more, registered aircraft, and factory foundations—that have statutory public registration systems and can serve as mortgage collateral.

3If the price of residential apartment units in a city increases by 10% and the quantity demanded decreases by 15%, what is the price elasticity of demand, and how is it classified?

A.0.67; Inelastic (비탄력적)

B.1.00; Unit elastic (단위탄력적)

C.1.50; Elastic (탄력적)

D.2.50; Perfectly elastic (완전탄력적)

Explanation: Price elasticity of demand equals the percentage change in quantity demanded divided by the percentage change in price: | -15% / +10% | = 1.50. Because the absolute value is greater than 1, demand is classified as price elastic (탄력적).

4According to the Cobweb Theorem (거미집이론) in real estate economics, which condition causes market price and production quantity to converge toward equilibrium over time (수렴형)?

A.The price elasticity of supply is greater than the price elasticity of demand

B.The price elasticity of demand is greater than the price elasticity of supply

C.The price elasticity of supply equals the price elasticity of demand

D.The slope of the demand curve is steeper than the slope of the supply curve

Explanation: Under the Cobweb Model, a convergent cycle (수렴형) occurs when the price elasticity of demand exceeds the price elasticity of supply (|Elasticity of Demand| > |Elasticity of Supply|), meaning consumers respond more flexibly to price changes than lagged producers, driving the price fluctuations toward equilibrium.

5Which urban spatial structure model posits that urban growth expands outward from a central business district along major transportation corridors in wedge-shaped zones?

A.Burgess's Concentric Zone Model (동심원이론)

B.Harris and Ullman's Multiple Nuclei Model (다핵심이론)

C.Hoyt's Sector Model (선형이론)

D.von Thünen's Isolated State Model (고립국이론)

Explanation: Homer Hoyt's Sector Model (선형이론, 1939) proposes that urban land use patterns grow outward from the central core along arterial transportation routes (rail lines, highways) in radial wedges or sectors, driven primarily by high-rent residential sectors.

6According to Reilly's Law of Retail Gravitation, Town A has a population of 100,000 and Town B has a population of 25,000. If the distance between the two towns is 30 km, at what distance from Town A is the retail boundary (breaking point) where shoppers are attracted equally to both towns?

A.10 km from Town A

B.15 km from Town A

C.20 km from Town A

D.25 km from Town A

Explanation: Under Converse's breaking-point formula derived from Reilly's Law: Distance from Town B to breaking point = Total Distance / (1 + √(Pop A / Pop B)) = 30 / (1 + √(100,000 / 25,000)) = 30 / (1 + √4) = 30 / 3 = 10 km from Town B. Therefore, the distance from Town A is 30 km - 10 km = 20 km.

7In housing economics, what term describes the phenomenon where higher-income households move into a deteriorating lower-income neighborhood, leading to renovations, rising property values, and displacement of lower-income residents?

A.Gentrification (젠트리피케이션)

B.Down-filtering (하향여과)

C.Urban sprawl (도시스프롤현상)

D.Redlining (레드라이닝)

Explanation: Gentrification refers to the revitalization of deteriorated urban neighborhoods by higher-income residents and commercial investments, which increases land values and rental rates, frequently resulting in the displacement of existing lower-income tenants.

8When the government imposes a statutory rent price ceiling (임대료 규제) below the competitive market equilibrium rent in the long run, what is the predictable economic outcome in the rental housing market?

A.An increase in the supply of high-quality rental housing units

B.A market surplus of vacant rental properties

C.An immediate deflationary decline in construction and maintenance costs

D.A deadweight welfare loss and chronic housing shortages as supply shrinks

Explanation: Fixing rental prices below market equilibrium reduces landlords' incentive to maintain and supply rental housing while increasing tenant demand. Over the long run, this creates excess demand (chronic shortages), deterioration in housing quality, informal black markets, and deadweight social welfare loss.

9Which of the following is a direct government intervention method in the land market (직접적 개입방법) in South Korea?

A.Levying Comprehensive Real Estate Holding Tax (종합부동산세 부과)

B.Imposing maximum Loan-to-Value (LTV) limits on mortgage loans

C.Operating the Public Land Banking System (토지은행제도 / 공공토지비축)

D.Subsidizing interest rates for first-time homebuyer loans

Explanation: Direct market interventions occur when the public sector acts directly as a buyer, seller, or developer in the real estate market. The Public Land Banking System (operated by the Korea Land and Housing Corporation / LH) directly purchases and reserves raw land for future public development and market stabilization.

10What is the 'lock-in effect' (동결효과) in real estate taxation when heavy capital gains taxes are imposed on existing multi-home property owners?

A.Property owners rush to liquidate their holdings immediately, causing market oversupply

B.Property owners postpone sales to avoid paying high capital gains tax, reducing market supply

C.Mortgage lenders freeze loan originations until the tax rates are formally adjusted

D.Tenants refuse to renew lease agreements due to concerns over landlords' tax liabilities

Explanation: The lock-in effect occurs when property owners defer or withhold selling their real estate to avoid triggering hefty capital gains tax liabilities. This reduces the active supply of homes on the resale market, which can inadvertently push transaction prices higher.

About the Licensed Real Estate Agent Exam Exam

The Korea Licensed Real Estate Agent Examination (공인중개사 자격시험) is South Korea's premier statutory licensing test for real estate brokerage professionals. Licensed agents handle property sales, leases, rights verification, transaction reporting, and escrow under the Licensed Real Estate Agents Act.

Exam sponsor: Human Resources Development Service of Korea (HRD Korea / 한국산업인력공단) under the Ministry of Land, Infrastructure and Transport. The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

Two-stage national professional examination: Stage 1 (Introduction to Real Estate Studies, Civil Act & Special Civil Acts) and Stage 2 (Brokerage Act & Practice, Real Estate Public Laws, Disclosure Acts & Tax Laws), conducted on a single day in October.

Time Limit

250 minutes total testing time (Stage 1: 100 min; Stage 2 Session 1: 100 min; Stage 2 Session 2: 50 min)

Passing Score

Minimum 40% floor per subject (과락 40점 방지) and an overall weighted average of 60% across all subjects in each stage

Exam / Certification Fees

KRW 28,000 for Stage 1 and Stage 2 combined (KRW 13,700 for Stage 1 only; KRW 14,300 for Stage 2 only)

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.

20% of bank (20 questions)

Introduction to Real Estate Studies

Real estate economic principles, elasticity, market cycles, policy tools, mortgage finance metrics (LTV, DTI), and valuation methods.

20% of bank (20 questions)

Civil Act & Special Civil Acts

Juridical acts, agency, ownership, mortgages, lease contracts, Housing Lease Protection Act, and Commercial Lease Protection Act.

20% of bank (20 questions)

Brokerage Law & Practice

Broker registration, duties of care, confirmation statements, prohibited acts, Real Estate Transaction Reporting Act, and auction agency.

20% of bank (20 questions)

Real Estate Public Law

National Land Planning Act zoning, building coverage and floor area ratios, Urban Development Act, Housing Act, and Building Act.

20% of bank (20 questions)

Real Estate Disclosure & Tax Law

Cadastral boundaries, land category (jimok), registration procedures, acquisition tax, property tax, and capital gains tax.

Preparing for the Licensed Real Estate Agent Exam Exam

What You Need to Know

Passing score: Minimum 40% floor per subject (과락 40점 방지) and an overall weighted average of 60% across all subjects in each stage
Assessment: Two-stage national professional examination: Stage 1 (Introduction to Real Estate Studies, Civil Act & Special Civil Acts) and Stage 2 (Brokerage Act & Practice, Real Estate Public Laws, Disclosure Acts & Tax Laws), conducted on a single day in October.
Time limit: 250 minutes total testing time (Stage 1: 100 min; Stage 2 Session 1: 100 min; Stage 2 Session 2: 50 min)
Exam / certification fees: KRW 28,000 for Stage 1 and Stage 2 combined (KRW 13,700 for Stage 1 only; KRW 14,300 for Stage 2 only) Official sources

Using Our Practice Resources

Work through all 100 available questions
Review every answer and explanation
Track weak areas and revisit them
Use our AI tutor for tough concepts

Frequently Asked Questions

What is the official structure of the Korean Licensed Real Estate Agent Examination?

The official examination is held annually in late October as a two-stage objective 5-option multiple-choice examination. Stage 1 consists of 80 questions across 2 subjects: Introduction to Real Estate Studies and Civil Act & Special Civil Acts (100 minutes). Stage 2 consists of 120 questions across 3 subjects: Brokerage Act & Practice (40 questions), Public Laws on Real Estate (40 questions), and Disclosure Acts & Real Estate Tax Laws (40 questions), sat across two sessions totaling 150 minutes.

What passing score is required to obtain the Korean real estate broker license?

To pass, a candidate must score at least 40 points out of 100 on every individual subject (avoiding the 40-point disqualification floor, or 과락) and achieve an overall weighted average of 60 points or higher across all subjects within each stage. If a candidate fails Stage 1, Stage 2 scoring is voided.

Is the official Korean Real Estate Agent Examination available in English?

No, the official examination is administered exclusively in Korean. This OpenExamPrep practice bank is an independent English-language MCQ study adaptation designed to assist bilingual professionals, foreign investors, and legal learners in studying Korean real estate regulations and legal frameworks in English.

What subjects are included in this OpenExamPrep practice question bank?

The 100-question practice bank covers all 5 official exam subjects equally (20 questions each): Real Estate Principles, Civil & Special Civil Law, Brokerage Law & Practice, Public Land Law, and Cadastral Registration & Real Estate Tax Laws.