TheoryRCE Module 2 Real Estate Study Guide
Study for the RCE Module 2 Real Estate with exam topics, practice questions, a free PDF, video walkthrough and timed mock exam links.
How to study for RCE Module 2 Real Estate
- Read the topic list so you know what the exam is likely to cover.
- Answer the free practice questions and read every explanation.
- Download the PDF for offline review.
- Use timed mock exams when your untimed practice feels comfortable.
Topics to review
- Property ownership, agency and disclosure
- Contracts, financing and escrow
- Real estate law and fair-housing rules
- Valuation, math and transaction practice
Try RCE Module 2 Real Estate questions now
Q1What is the primary concern of antitrust law as it applies to REALTOR® associations?
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✓ Correct answer: Prohibiting agreements that unreasonably restrain trade
Antitrust law primarily prohibits agreements that unreasonably restrain trade, which in REALTOR® associations can manifest as price-fixing discussions among competing brokers who are association members.
Q2Which of the following discussions at a board meeting would MOST likely raise antitrust concerns?
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✓ Correct answer: What commission rates members should charge
Discussions about what commission rates members should charge is a clear example of price fixing, which violates antitrust laws.
Q3Under the duty of loyalty, what must association directors avoid?
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✓ Correct answer: Conflicts of interest
The fiduciary duty of loyalty requires directors to avoid conflicts of interest where their personal interests might conflict with those of the association.
Q4Which of the following is a key difference between governance and management in a REALTOR® association?
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✓ Correct answer: The board sets policy while staff implements it
Governance (board) focuses on setting policy, direction, and oversight, while management (staff) is responsible for implementing policies and day-to-day operations.
Q5What should an Association Executive do if board members begin discussing what commission rates 'should be' during a meeting?
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✓ Correct answer: Immediately stop the discussion and explain the antitrust risk
To avoid antitrust violations, the AE should immediately stop the discussion, explain the antitrust risk, document the intervention, and potentially seek legal counsel if needed.
Q6Which government agencies primarily enforce federal antitrust laws that affect REALTOR® associations?
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✓ Correct answer: FTC and DOJ
The Federal Trade Commission (FTC) and Department of Justice (DOJ) are the primary federal agencies that enforce antitrust laws affecting REALTOR® associations.
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