A Vermont real estate broker is representing a seller and has received two offers on a property. Offer A is for $300,000 with a closing date of 60 days, contingent on the buyer obtaining financing. Offer B is for $290,000 with a closing date of 30 days, contingent on the buyer selling their current home. The seller wants to close as quickly as possible but is also concerned about the certainty of the sale. Which offer should the broker advise the seller to accept, considering the broker's fiduciary duty?

Offer B, as the shorter closing date aligns with the seller's desire for speed, and the broker can proactively manage the buyer's home sale contingency.. Offer B should be advised. While Offer A has a higher price, a financing contingency introduces uncertainty. Offer B, though lower in price, offers a faster closing. The broker's role includes advising on the risks and benefits of contingencies. A proactive broker can work with the buyer's agent to expedite the sale of the buyer's current home, mitigating that risk and fulfilling the seller's primary desire for a quick closing.

A Vermont licensed real estate salesperson, working under a broker, has a client interested in purchasing a commercial property. The client asks the salesperson for advice on the most advantageous tax depreciation schedule for the property. What is the salesperson's appropriate course of action?

Provide the client with a general overview of available depreciation schedules, such as straight-line and accelerated, and recommend they consult a CPA.. The salesperson should provide a general overview and recommend professional consultation. Real estate agents are licensed to facilitate real estate transactions, not to provide specific tax or legal advice. Offering definitive tax advice would be practicing law or accounting without a license, which is illegal and unethical. Directing the client to a qualified professional like a CPA is the correct and lawful approach.

A Vermont property owner is considering selling their historic home. The property is located in a designated historic district and has specific covenants associated with its sale. The listing broker discovers that a previous owner made significant structural modifications without obtaining the necessary permits from the local historical commission. What is the broker's primary obligation in this situation?

Disclose the unpermitted modifications to prospective buyers, as this is a material fact that affects the property's legal status and value.. The broker's primary obligation is to disclose material facts. Unpermitted structural modifications, especially in a historic district, are significant issues that can lead to fines, demolition orders, or costly remediation. This is a material fact that must be disclosed to all prospective buyers, along with the potential risks and legal implications.

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Free Vermont Real Estate Broker Exam practice test with 50 realistic multiple-choice questions, instant grading, and explanations. Study with drill mode, category score reports, and a personalized review plan.

Exam format

50 multiple-choice practice questions
Drill mode with instant feedback and explanations after each answer

Study tips

Review the official exam content outline before your first practice run.
Take the full practice exam once to establish a baseline score by category.
Focus review on categories where you score below the passing threshold.
Re-take missed questions in drill mode until you can explain each correct answer.
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Sample Vermont Broker practice questions

Try a few representative questions below. Each includes the correct answer and a short explanation — the same style you'll see in the full practice test.

Question 1Agency and Fiduciary Duties
A Vermont real estate broker is representing a seller and has received two offers on a property. Offer A is for $300,000 with a closing date of 60 days, contingent on the buyer obtaining financing. Offer B is for $290,000 with a closing date of 30 days, contingent on the buyer selling their current home. The seller wants to close as quickly as possible but is also concerned about the certainty of the sale. Which offer should the broker advise the seller to accept, considering the broker's fiduciary duty?
- A.Offer B, as the shorter closing date aligns with the seller's desire for speed, and the broker can proactively manage the buyer's home sale contingency.(Correct)
- B.Offer A, as it is the higher price and the financing contingency is common.
- C.Offer A, because the financing contingency is generally easier to satisfy than a home sale contingency.
- D.Neither offer, and the broker should advise the seller to counter both, requesting higher prices and shorter closing times.
Explanation
Offer B should be advised. While Offer A has a higher price, a financing contingency introduces uncertainty. Offer B, though lower in price, offers a faster closing. The broker's role includes advising on the risks and benefits of contingencies. A proactive broker can work with the buyer's agent to expedite the sale of the buyer's current home, mitigating that risk and fulfilling the seller's primary desire for a quick closing.
Question 2Legal and Ethical Practice
A Vermont licensed real estate salesperson, working under a broker, has a client interested in purchasing a commercial property. The client asks the salesperson for advice on the most advantageous tax depreciation schedule for the property. What is the salesperson's appropriate course of action?
- A.Explain that depreciation is a complex tax matter and suggest the client hire a tax attorney to determine the best strategy.
- B.Provide the client with a general overview of available depreciation schedules, such as straight-line and accelerated, and recommend they consult a CPA.(Correct)
- C.Advise the client that residential properties have a 27.5-year schedule and commercial properties have a 39-year schedule, and they should choose the 39-year option for maximum tax benefit.
- D.Research the latest tax laws and provide a detailed recommendation on the best depreciation method based on the client's financial situation.
Explanation
The salesperson should provide a general overview and recommend professional consultation. Real estate agents are licensed to facilitate real estate transactions, not to provide specific tax or legal advice. Offering definitive tax advice would be practicing law or accounting without a license, which is illegal and unethical. Directing the client to a qualified professional like a CPA is the correct and lawful approach.
Question 3Disclosure Obligations
A Vermont property owner is considering selling their historic home. The property is located in a designated historic district and has specific covenants associated with its sale. The listing broker discovers that a previous owner made significant structural modifications without obtaining the necessary permits from the local historical commission. What is the broker's primary obligation in this situation?
- A.Advise the seller to obtain retroactive permits before listing the property to avoid future complications.
- B.Disclose the unpermitted modifications to prospective buyers, as this is a material fact that affects the property's legal status and value.(Correct)
- C.Inform the seller of the potential legal liabilities and advise them to consult with an attorney regarding the unpermitted work.
- D.Proceed with the sale, assuming the unpermitted work will not be discovered by future buyers or the historical commission.
Explanation
The broker's primary obligation is to disclose material facts. Unpermitted structural modifications, especially in a historic district, are significant issues that can lead to fines, demolition orders, or costly remediation. This is a material fact that must be disclosed to all prospective buyers, along with the potential risks and legal implications.

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Frequently asked questions

How many questions are on this Vermont Broker practice test?

This practice test includes 50 multiple-choice questions designed to mirror the format and difficulty of the real Vermont Real Estate Broker Exam.

Is this Vermont Broker practice test free?

Yes. You can start practicing for free. Create an account to save progress, track weak categories, and retake the exam.

Do I get explanations after each question?

Yes. In drill mode you see why the correct answer is right, why distractors are wrong, and practical examples where relevant.

How should I use this practice test to prepare?

Take the full exam under timed conditions, review missed questions by category, then focus study on your weakest sections before scheduling the real exam.

Does this replace official exam materials?

No. Use this as a supplement alongside official candidate information bulletins, textbooks, and hands-on experience required for your license or certification.

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