Real Estate Exam Prep
About
Real Estate Exam Prep is a daily podcast designed to help future real estate agents pass their licensing exams with clarity and confidence. Built and operated by OpenExamPrep, this podcast breaks down the real estate exam into focused, easy-to-digest episodes covering both the national portion and state-specific requirements. Each episode targets one key concept, common exam trap, or high-frequency test topic—making it ideal for studying during commutes, workouts, or short study sessions. Created by Ran Chen, EA, CFP®, a financial professional and exam specialist who has personally passed multiple professional licensing exams, Real Estate Exam Prep was developed from firsthand experience with how difficult—and often poorly taught—exam material can be. The goal is simple: make exam preparation clearer, more accessible, and more effective using structured explanations and modern learning tools. Whether you’re just starting your real estate exam journey or reviewing before test day, this podcast is designed to guide you step by step—one concept at a time. Free practice tools, AI-powered explanations, and additional exam prep resources are available at: https://open-exam-prep.com/
Episodes
- Real Estate Exam [Texas] 24, Property Identification and Sales Price
This episode focuses on key elements of the Texas real estate exam, including why a street address is insufficient for property identification on TREC contracts, the importance of listing exclusions, and how to correctly calculate the sale…
- Real Estate Exam [Texas] 23, One to Four Family Contract Structure
This episode breaks down the Texas One to Four Family contract, explaining its logical flow from parties and property to closing. It covers key exam areas like Paragraph 7, the 'as is' clause, Special Provisions, Seller's Disclosure Notice…
- Real Estate Exam [Texas] 22, What Licensees Can and Cannot Do With Forms
This episode explains the limitations for Texas real estate licensees regarding TREC forms. It covers filling in blanks, the proper use of the Special Provisions section, and the prohibition against altering pre-printed text to avoid the u…
- Real Estate Exam [Texas] 21, The Broker-Lawyer Committee
This episode details the Texas Broker-Lawyer Committee, including its 13-member composition and its advisory role in drafting and revising standardized real estate contract forms for TREC. It clarifies that only TREC can approve these form…
- Real Estate Exam [Texas] 20, TREC Promulgated Forms Overview
This episode discusses Texas's TREC promulgated forms, emphasizing their role in public protection and the unauthorized practice of law. It details the mandatory use of these forms for license holders, outlines exceptions, and provides a m…
- Real Estate Exam [Texas] 19, Agent Disclosure Duties
This episode covers Texas real estate agent disclosure duties, emphasizing an agent's independent duty to disclose material facts. It details federal lead-based paint disclosure requirements, consequences of failing to provide MUD notices,…
- Real Estate Exam [Texas] 18, Seller's Disclosure Exemptions
This episode of Real Estate Exam Prep focuses on Texas Seller's Disclosure exemptions, detailing the seven major categories. It clarifies the difference between 'as-is' sales and legal exemptions, emphasizes agents' ongoing duty to disclos…
- Real Estate Exam [Texas] 17, Seller's Disclosure Notice
This episode explains the Texas Seller
- Real Estate Exam [Texas] 16, Buyer Representation Agreements
This episode of Real Estate Exam Prep covers Texas buyer representation agreements, detailing the differences between exclusive and non-exclusive contracts, their essential elements, commission structures, termination clauses, and the func…
- Real Estate Exam [Texas] 15, Types of Listing Agreements
This episode explains different types of real estate listing agreements in Texas, including Exclusive Right to Sell, Exclusive Agency, and Open Listings. It highlights Net Listings as a common exam trap due to potential conflicts of intere…
- Real Estate Exam [Texas] 14, Intermediary With Appointments
This episode explains the intermediary broker role in Texas real estate. An intermediary broker must be neutral, while appointed agents can advise their respective clients. Written consent and notice of appointments are required, and confi…
- Real Estate Exam [Texas] 13, Intermediary Relationship Basics
This episode explains the Texas intermediary relationship in real estate, an alternative to dual agency where one brokerage represents both buyer and seller. It details the requirements for legality, including written consent, the broker's…
- Real Estate Exam [Texas] 12, Information About Brokerage Services IABS
This episode explains the Information About Brokerage Services (IABS) form for the Texas real estate exam. It covers when to provide the form, defines 'substantive dialogue' with an example, lists exemptions like short-term leases and open…
- Real Estate Exam [Texas] 11, Seller's Agent vs Buyer's Agent
This episode explains Texas real estate agency relationships, detailing fiduciary duties owed exclusively to clients (OLDCAR) and limited duties to customers. It covers subagency, the necessity of written agreements for representation, and…
- Real Estate Exam [Texas] 10, Fiduciary Duties OLD CAR
This episode details the six fiduciary duties for Texas real estate agents, using the acronym OLD CAR: Obedience, Loyalty, Disclosure, Confidentiality, Accounting, and Reasonable Care. It covers lawful instructions, the permanence of confi…
- Real Estate Exam [Texas] 09, License Status Types
This episode of Real Estate Exam Prep explains the different Texas real estate license statuses: active, inactive, and expired. It details the late renewal process, consequences for agents if their broker's license is affected, and how to…
- Real Estate Exam [Texas] 08, License Renewal and Continuing Education
This episode of Real Estate Exam Prep covers Texas license renewal, detailing the 18-hour Continuing Education (CE) requirement for most renewals, including specific legal update courses. It also explains the 90-hour Sales Apprentice Educa…
- Real Estate Exam [Texas] 07, Commission Payment Rules in Texas
This episode details Texas real estate commission payment rules, emphasizing that all commissions must go through the sponsoring broker. It covers handling client bonuses, the non-involvement of TREC in disputes, requirements for valid com…
- Real Estate Exam [Texas] 06, Sponsorship and Broker Supervision
This episode covers the legal requirements for Texas real estate sales agent sponsorship, including broker responsibilities, policy requirements, and license status during sponsorship termination. Host Ran Chen explains the rules governing…
- Real Estate Exam [Texas] 05, Texas Sales Agent Exam Format
This episode details the Texas Sales Agent Exam format, including the number of national and state questions, passing score requirements, time limits, testing center rules, and consequences for failing.
- Real Estate Exam [Texas] 04, Pre-License Education Requirements
This episode details the Texas real estate pre-license education requirements, which total 180 hours across six specific 30-hour courses. It emphasizes the need for TREC-approved providers and clarifies the distinction between pre-license…
- Real Estate Exam [Texas] 03, Texas Real Estate Recovery Fund
This episode explains the Texas Real Estate Recovery Trust Account, a fund of last resort for consumers. It details updated payment limits ($125,000 per transaction, $250,000 aggregate), the necessity of a court judgment, exclusions like p…
- Real Estate Exam [Texas] 02, TRELA and Commissioner's Rules
This episode explains TRELA as the foundational Texas real estate law and the Commissioner's Rules as administrative rules created by TREC. It clarifies the distinction between statutes and administrative rules, and outlines TREC's enforce…
- Real Estate Exam [Texas] 01, TREC Structure and Functions Explained
This episode explains the structure and functions of the Texas Real Estate Commission (TREC), including its composition, role in enforcing TRELA, and licensing requirements for aspiring agents. It also details the limits of the Real Estate…
- Real Estate Exam [National] 99, Real Estate Math Fundamentals Explained
This episode of Real Estate Exam Prep explains fundamental real estate math concepts for the National exam. Topics covered include calculating sales price for seller net, memorizing square footage in an acre, determining Loan-to-Value rati…
- Real Estate Exam [National] 98, Easements Explained
This episode of Real Estate Exam Prep explains various types of easements, including Appurtenant and In Gross, and how to identify dominant and servient estates. It details legal requirements for creation through Necessity and Prescription…
- Real Estate Exam [National] 97, Private Land Use Controls CCRs Explained
This episode of Real Estate Exam Prep explains Private Land Use Controls, specifically CC&Rs. It covers how CC&Rs are recorded, their precedence over zoning, the difference between covenants and conditions, private enforcement, and the ill…
- Real Estate Exam [National] 96, Eminent Domain and Condemnation Explained
This episode of Real Estate Exam Prep explains Eminent Domain and Condemnation, covering Fifth Amendment requirements like public use and just compensation, how compensation is calculated, and Inverse Condemnation. Mnemonics like PETE and…
- Real Estate Exam [National] 95, Variances and Nonconforming Uses Explained
This episode of Real Estate Exam Prep by Ran Chen explains variances and nonconforming uses for the National Real Estate Exam. It covers the definition of variance, grounds for approval, establishment of nonconforming uses, and how they ca…
- Real Estate Exam [National] 94, Zoning Laws and Classifications Explained
This episode of Real Estate Exam Prep explains zoning laws and classifications essential for the National Real Estate Exam. Topics include the purpose of zoning, common classifications like Residential and Commercial, setbacks, buffer zone…
- Real Estate Exam [National] 93, Government Powers PETE Explained
This episode of Real Estate Exam Prep covers government powers relevant to the National Real Estate Exam, including Police Power, Eminent Domain, condemnation, Fifth Amendment rights, property tax liens, and Escheat.
- Real Estate Exam [National] 92, Material Facts and Stigmatized Property Explained
This episode of Real Estate Exam Prep explains material facts, the reasonable person standard, and the disclosure of latent defects. It also covers the distinction between physical defects and psychological stigmas, federal lead-based pain…
- Real Estate Exam [National] 91, Flood Zone and Wetlands Regulations Explained
This episode of Real Estate Exam Prep covers flood zone and wetland regulations relevant to the National Real Estate Exam. It explains how to identify special flood hazard areas, mandatory insurance rules, the definition of wetlands, and w…
- Real Estate Exam [National] 90, Environmental Site Assessments Explained
This episode explores Environmental Site Assessments for the National Real Estate Exam, covering Phase I and II assessments, CERCLA, landowner liability, and the agent's role. Ran Chen explains key concepts and potential exam traps for lea…
- Real Estate Exam [National] 89, CERCLA and Superfund Liability Explained
This episode explains CERCLA and Superfund liability, covering strict, joint, several, and retroactive liability. It also details the innocent landowner defense, which requires a Phase One environmental site assessment prior to purchase. T…
- Real Estate Exam [National] 88, Asbestos and Radon Hazards Explained
This episode of Real Estate Exam Prep explains asbestos and radon hazards relevant to the National Real Estate Exam. It covers friable asbestos, encapsulation and removal methods, radon as a radioactive gas, EPA action levels, and disclosu…
- Real Estate Exam [National] 87, Lead Based Paint Disclosure Explained
This episode explains federal lead-based paint disclosure requirements for homes built before 1978, including seller duties, buyer inspection rights, and licensee responsibilities under the Lead-Based Paint Hazard Reduction Act. Records mu…
- Real Estate Exam [National] 86, Assumption vs Subject To Explained
This episode of Real Estate Exam Prep explains the legal differences in personal liability between assuming a mortgage and taking title subject to a lien. It covers novation, the role of the alienation clause, which government-backed loans…
- Real Estate Exam [National] 85, Mortgage Clauses Explained
This episode of Real Estate Exam Prep explains key mortgage clauses, including the acceleration clause, alienation or due-on-sale clause, defeasance clause, and prepayment clause. It covers their financial implications and triggers, design…
- Real Estate Exam [National] 84, Loan Qualification DTI Explained
This episode explains Debts-to-Income (DTI) ratios for the National Real Estate Exam, covering front-end and back-end ratios, lender standards for conventional and FHA loans, and the "three Cs" of mortgage underwriting. Raen Chen discusses…
- Real Estate Exam [National] 83, TILA and TRID Explained
This episode of Real Estate Exam Prep explains TILA and TRID regulations for the National Real Estate Exam, covering the difference between interest rate and APR, TILA rescission rights, Loan Estimate and Closing Disclosure timelines, iden…
- Real Estate Exam [National] 82, RESPA Explained
This episode of Real Estate Exam Prep covers the Real Estate Settlement Procedures Act (RESPA), detailing its application to one-to-four family residential dwellings with federally related mortgage loans. It explains prohibitions on kickba…
- Real Estate Exam [National] 81, Secondary Mortgage Market Explained
This episode of Real Estate Exam Prep explains the secondary mortgage market, detailing the roles of Fannie Mae, Freddie Mac, and Ginnie Mae in providing liquidity and how to identify conforming loans. It aims to help learners avoid common…
- Real Estate Exam [National] 80, Adjustable Rate Mortgages Explained
This episode of Real Estate Exam Prep explains Adjustable Rate Mortgages (ARMs), detailing how the total interest rate is calculated, the structure of a 5/1 ARM, and the function of interest rate caps. It also covers the risk of negative a…
- Real Estate Exam [National] 79, Amortization Explained
This episode of Real Estate Exam Prep explains amortization, the process of paying off debt over time. It details how payments are split between principal and interest, noting that early payments favor interest. The episode also distinguis…
- Real Estate Exam [National] 78, Private Mortgage Insurance Explained
This episode of Real Estate Exam Prep explains Private Mortgage Insurance (PMI), covering its role as lender protection, LTV requirements, PMI removal versus automatic termination, and how it differs from FHA Mortgage Insurance.
- Real Estate Exam [National] 77, Loan to Value Ratio Explained
This episode of Real Estate Exam Prep explains the Loan to Value ratio, including its calculation formula and its significance in lender risk assessment. It also covers related concepts like exam traps, Private Mortgage Insurance, and Comb…
- Real Estate Exam [National] 76, Discount Points Explained
This episode of Real Estate Exam Prep explains discount points, which are prepaid interest to lower mortgage rates. It covers how to calculate them using the loan amount, their relationship to lender yield, and how to distinguish them from…
- Real Estate Exam [National] 75, Lien Theory vs Title Theory Explained
This episode explains Lien Theory, where borrowers hold title, and Title Theory, where lenders hold title. It details foreclosure differences, equitable title, and common exam traps for the National Real Estate Exam.
- Real Estate Exam [National] 74, Deed of Trust vs Mortgage Explained
This episode of Real Estate Exam Prep explains the differences between deeds of trust and mortgages, covering the roles of trustor, trustee, and beneficiary, foreclosure processes, legal titles, and specific closing documents.