Exam Cheat Sheet · Quick Reference
Arkansas Real Estate Salesperson State Portion
Arkansas · Pearson Vue
Verified, not estimated. Every figure below is drawn from the official exam structure we maintain — question counts, passing standard and topic weighting. Practice questions are grounded in the source law with statute citations. We omit any figure we can't verify rather than guess at it.
Total questions
110
30 state + 80 national
Passing score
70
each portion
Exam time
240 min
≈ 4 hr, one sitting
Administered by
Pearson Vue
Format
Closed-book
Arkansas State Portion 30 questions
Deberes y Poderes de la Comisión de Bienes Raíces
4 Q · 13%
General powers of the CommissionExamination of recordsInvestigations, hearings, and appealsLicense suspension, revocation, sanctions, and monetary penaltiesRecovery Fund
Requisitos de Licencia
2 Q · 7%
Activities requiring a license and exemptionsTypes of licensesEligibility and requirements for licensingLicense renewalChange in license status or assignmentChange in licensee information (name and addresses)Place of business requirements
Requisitos Estatutarios que Rigen las Actividades de los Licenciatarios
14 Q · 47%
Dealing independently of principal brokerExpiration date for agency contractsBroker responsibilities; executive and part-time brokersAdvertisingKnowledge of propertyHandling of funds and maintenance of recordsTrust funds and trust accountsDisbursement of trust fundsAgreements to be in writingSelf-dealingSales contractAgency agreements and signage
+2 more
Otros Requisitos Estatutarios
2 Q · 7%
Membership in trade organizationReporting violationsCriminal convictions and disciplinary actionsViolation of law or regulationsTime-shares
Relaciones de Agencia y Divulgaciones
8 Q · 27%
Seller or lessor agentsBuyer or lessee agentsDual agency and consentFailure to disclose agency representationFidelity and honest dealingRequired and waivable duties
National Portion 80 questions
Titularidad de Propiedades
8 Q · 10%
Real vs personal propertyLand characteristics and legal descriptions (metes & bounds, lot & block, government survey)Measuring structures and land measurementEncumbrances: liens, easements, encroachments, subsurface/air/water rightsTypes of ownership: severalty, tenants in common, joint tenancy, common-interest, trusts, business entities, life estate
Controles de Uso del Suelo
4 Q · 5%
Government rights in land: taxes, special assessments, eminent domain, escheatGovernment controls on land use: zoning, building codes, environmental regulationsPrivate controls: deed conditions, CC&Rs, HOA/condo bylaws
Valuación y Análisis de Mercado
6 Q · 8%
Appraisals: when required, licensed/certified appraiser requirements, appraisal processEstimating value: economic principles affecting valueSales comparison approachCost approachIncome analysis approach (GRM, cap rate)Comparative Market Analysis (CMA), Broker Price Opinion (BPO), Automated Valuation Models (AVM)
Financiamiento
8 Q · 10%
Loan terminology: points, LTV, PMI, PITI, underwriting criteriaMortgage clauses, promissory notes, deeds of trustLoan types: conventional, amortized, ARM, FHA, VA, USDA, owner financing, reverse mortgage, HELOC, construction, bridgeLending legislation: RESPA, Truth in Lending (Reg Z), TRID, Equal Credit Opportunity ActSecondary mortgage market: Fannie Mae, Freddie Mac, Ginnie Mae
Contratos
15 Q · 19%
General contract law: valid elements, Statute of Frauds, offer and acceptanceContract enforceability: void, voidable, unenforceable contractsBilateral vs unilateral contracts, option contractsElectronic signatures and digital transactionsRights, obligations, and breach remediesPurchase agreements: addenda, amendments, contingenciesLease contracts: types of leases, lease-purchase agreementsMultiple offers and counteroffers
Agencia
10 Q · 13%
Agency vs non-agency relationshipsListing contracts: exclusive right-to-sell, exclusive agency, open listing, net listingBuyer brokerage and buyer representation agreementsTransaction brokers and facilitatorsPower of attorney, termination of agencyFiduciary duties: obedience, loyalty, disclosure, confidentiality, accounting, reasonable care (OLD CAR)Duties to customers and non-clientsAgency disclosure requirements and conflict of interest
Divulgaciones de Propiedad
6 Q · 7%
Property condition disclosures: seller disclosure requirements, inspections, surveysRed flags and material defectsEnvironmental disclosures: lead-based paint, asbestos, radon, mold, underground storage tanksGovernment disclosures: flood zones, wetlands, endangered speciesMaterial facts and duty to disclose
Administración de Propiedades
2 Q · 3%
Tenant procurement and qualificationFair housing compliance in property management and ADAMarket analysis for establishing rentsLandlord/tenant rights and obligations
Transferencia de Título
5 Q · 6%
Types of deeds: general warranty, special warranty, quitclaim, bargain and saleTitle insurance: owners vs lenders policies, title searches, title problemsClosing process: recordation, settlement statements, warrantiesSpecial processes: foreclosure, short sale, deed in lieu, probate
Práctica de Bienes Raíces
10 Q · 12%
Federal Fair Housing Act: protected classes, prohibited conduct, exemptionsAmericans with Disabilities Act (ADA) requirementsAntitrust laws: price fixing, group boycotts, market allocation, tie-in agreementsDo-Not-Call Registry and telemarketing rulesSocial media and internet advertising regulationsHandling earnest money and trust fundsDue diligence and fiduciary responsibilitiesIndependent contractor vs employee status
Cálculos de Bienes Raíces
6 Q · 7%
Seller net proceeds calculationsBuyer funds required at closingProrations: taxes, insurance, rent, HOA duesTransfer tax and recording fee calculationsPITI (Principal, Interest, Taxes, Insurance) calculationsCommission calculations and splitsEquity, capitalization rate, and LTV calculationsDiscount points and origination feesArea and volume conversions (sq ft, acres)
Key Distinctions
Joint TenancyvsTenancy in Common
Joint tenancy includes the right of survivorship so a deceased owner's interest passes automatically to surviving owners, while tenancy in common has no survivorship right and each owner's interest passes to their heirs.
Easement AppurtenantvsEasement in Gross
An easement appurtenant benefits a specific parcel of land (dominant estate) and runs with that land, while an easement in gross benefits a person or entity (such as a utility company) with no dominant estate.
General Warranty DeedvsSpecial Warranty Deed
A general warranty deed warrants against all title defects in the entire chain of title regardless of when they occurred, while a special warranty deed only warrants against defects that arose during the grantor's period of ownership.
Owner's Title Insurance PolicyvsLender's Title Insurance Policy
An owner's policy protects the buyer's equity interest up to the purchase price, while a lender's policy protects the lender's security interest only up to the outstanding loan amount.
Promissory NotevsDeed of Trust
A promissory note is the borrower's written promise to repay (evidence of the debt), while a deed of trust is the security instrument that gives the lender a lien on the property as collateral.
CMA (Comparative Market Analysis)vsFormal Appraisal
A CMA is an opinion of value prepared by a real estate agent, while a formal appraisal must be performed by a licensed or certified appraiser following USPAP standards and can be used for lending purposes.
Bilateral ContractvsUnilateral Contract
A bilateral contract involves mutual promises from both parties (promise for a promise), while a unilateral contract involves a promise from only one party that can be accepted only through performance by the other.
ClientvsCustomer
A client has an agency (fiduciary) relationship with the broker and is owed full fiduciary duties, while a customer has no agency relationship and is owed only honesty and fair dealing.
Exclusive Agency ListingvsExclusive Right-to-Sell Listing
Under an exclusive agency listing the seller retains the right to sell the property themselves without paying a commission, while under an exclusive right-to-sell the broker earns a commission regardless of who sells the property.
AddendumvsAmendment
An addendum adds terms or conditions to a contract before it is fully executed (signed by all parties), while an amendment modifies an existing contract after all parties have signed.
Price FixingvsMarket Allocation
Price fixing is an illegal agreement among competitors to charge the same commission or price, while market allocation is an illegal agreement among competitors to divide geographic areas or customer segments.
Fixed-Rate MortgagevsAdjustable-Rate Mortgage (ARM)
A fixed-rate mortgage keeps the same interest rate for the entire loan term, while an ARM has an interest rate that can fluctuate during the loan term based on market conditions.
Key Terms
Real Estate Forms Attorney Approval (AR) Ar Re Regulations, Regulation 10.10(c)
Per Ar Re Regulations, Regulation 10.10(c), all real estate forms used by licensees in the regular course of business must be approved by a licensed Arkansas attorney prior to use, and the licensee must provide evidence of such approval upon Commission request.
Trust Fund Deposit Deadline (AR) Ar Re Regulations, Regulation 10.8(g)(1)
Per Ar Re Regulations, Regulation 10.8(g)(1), trust funds must be deposited in the trust account, delivered to an escrow agent, or deposited per a written agreement no later than three (3) days following execution of a real estate contract by both parties.
Trust Account Reconciliation (AR) Ar Re Regulations, Regulation 10.8(g)(2)
Per Ar Re Regulations, Regulation 10.8(g)(2), all trust account bank statements must be reconciled in writing at least monthly and balanced to the total of undisbursed trust funds.
Record Retention Period (AR) Ar Re Regulations, Regulation 10.7
Per Ar Re Regulations, Regulation 10.7, a principal broker must maintain complete records of all real estate business for three (3) years or such time as required by law, whichever is greater.
Broker Price Opinion — Prohibited Terms (AR) Ar Re License Law, A.C.A. § 17-42-110(d)
Per Ar Re License Law, A.C.A. § 17-42-110(d), a broker's price opinion or market analysis issued by a real estate licensee shall not contain the terms 'market value,' 'appraised value,' or 'appraisal.'
Licensee Termination Notice (AR) Ar Re Regulations, Regulation 7.5(a)
Per Ar Re Regulations, Regulation 7.5(a), within seven (7) days after a licensee's employment or association ends, the principal broker must notify the Commission and return the terminated licensee's license and pocket card.
Maximum Disciplinary Penalty per Violation (AR) Ar Re License Law, § 17-42-312(a)(4)(B)
Per Ar Re License Law, § 17-42-312(a)(4)(B), the Arkansas Real Estate Commission may impose a monetary penalty of not more than $1,000 for each violation in a disciplinary hearing.
Real Estate Recovery Fund Maximum Payment (AR) Ar Re License Law, § 17-42-406(a)(4)(A)
Per Ar Re License Law, § 17-42-406(a)(4)(A), the Commission shall not pay more than $25,000 from the Recovery Fund for any one violation or continuing series of violations, regardless of the number of licensees involved.
Pre-License Education Hours Maximum (AR) Ar Re License Law, § 17-42-303(a)(2)
Per Ar Re License Law, § 17-42-303(a)(2), the maximum pre-license education hours required for a salesperson's license shall not exceed 90 hours, at least 30 of which must be in basic principles of real estate.
Statute of Limitations for Commission Disciplinary Action (AR) Ar Re License Law, § 17-42-314(b)
Per Ar Re License Law, § 17-42-314(b), except in fraud-in-obtaining-a-license cases, the Commission must initiate a complaint or investigation within 3 years from the date of the actions complained of.
Special Assessment
A one-time charge levied against specific properties that benefit from a public improvement (such as new sidewalks, sewer systems, or street lighting), distinct from ongoing general property taxes.
Remainderman
The party designated to receive a property upon the termination of a life estate; if the remainder goes to a third party rather than reverting to the original grantor, that third party is the remainderman.
Police Power
The government's authority to enact regulations for public health, safety, or welfare (such as zoning and environmental rules) without compensating property owners for the resulting financial burden.
Reverse Mortgage
A loan product designed for homeowners age 62 and older that allows them to convert home equity into cash without monthly payments; the loan is repaid when the home is sold or the borrower no longer resides there.
Annual Percentage Rate (APR)
Under the Truth in Lending Act (Regulation Z), the APR includes the interest rate plus other loan costs such as points and origination fees expressed as a yearly rate, giving borrowers a more complete picture of the loan's true cost.
Independent Contractor (Real Estate)
Per IRC § 3508, a real estate salesperson qualifies as an independent contractor (statutory non-employee) only if they hold a current real estate license, are paid based on sales production rather than hours worked, and have a written agreement with their broker stating they will not be treated as an employee for tax purposes.
Formulas to Know
Seller's Net Proceeds
Net Proceeds = Sale Price − (Commission + Closing Costs + Mortgage Payoff)Commission Amount
Commission = Sale Price × Commission RateCommission Split (Agent's Share)
Agent's Share = Total Commission × Agent's Split PercentageProration (Per-Diem Method)
Daily Rate = Annual Amount ÷ 365; Prorated Amount = Daily Rate × Number of DaysPITI Monthly Payment
PITI = Monthly Principal & Interest + (Annual Property Taxes ÷ 12) + (Annual Insurance ÷ 12)Loan-to-Value Ratio (LTV)
LTV = Loan Amount ÷ Appraised Value (or Sale Price)Capitalization Rate
Cap Rate = Net Operating Income ÷ Property ValueEquity
Equity = Property Value − Outstanding Loan BalanceDiscount Points Cost
Points Cost = Loan Amount × (Number of Points ÷ 100)Area Conversion
Acres = Square Feet ÷ 43,560