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Real-estate wra test
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Real-estate wra test
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Real-estate wra testradioactive gas in the air that comes from the natural breakdown of uranium in
soil, rock and water is:
A: Mold
B: Radium
C: Radon
D: Meth
Question 45 XXX - CORRECT ANSWER-radon
A buyer wants to have the interest earned on their earnest money deposit. Which
of the following statements is most correct?
A: The broker cannot draft an escrow agreement for the buyer and seller
B: The broker can give the interest to the buyer if the offer to purchase states
that the buyer gets the interest
C: The broker can give the interest to the buyer with written permission from the
seller
D: The broker cannot hold the earnest money but they may draft an escrow
agreement for the buyer and the seller
Question 46 - CORRECT ANSWER-a. the broker cannot draft an escrow
agreement for the buyer and seller
Question 47 XXX
Which of the following is NOT true regarding a sales licensee who transfers
employment:
A: May not practice real estate, once leaving the original place of employment,
until the transfer application is deposited into the U.S. postal service, postage
fees prepaid or delivered in person
B: Must pay a fee accompanied with a Department of Safety and Professional
Services transfer form
C: Must deliver the transfer application within 10 days of transfer
, D: Is not employed by the new broker until the transfer form has been delivered -
CORRECT ANSWER-must deliver the transfer application within 10 days of
transfer.
Question 48 XXX
After entering into a sales contract a seller discovers a defect on the property,
the:
A: buyer can direct the seller on how to repair the defect
B: contract becomes null and void at the buyer's discretion
C: seller must update the real estate condition report and give a copy to the
buyer
D: seller must comply with the terms of the sales contract - CORRECT
ANSWER-D: seller must comply with the terms of the sales contract
Question 49 XXX
A listing agent has an accepted offer to purchase on a listing. Another offer is
being written and the buyer wants information about the existing offer. What
information can the listing agent share with the second buyer?
A: The existing offer meets the seller's closing date requirement of July 15
B: The existing offer doesn't look very strong because the buyer is trying to
obtain a loan for 100% of the purchase price
C: The existing offer has a continued marketing clause
D: The seller is looking for secondary offers because the primary buyer's offer
contains a well and septic inspection contingency that seller is suppose to pay for
and the seller doesn't want to pay for the inspection - CORRECT ANSWER-the
existing offer has a continued marketing clause.
Question 50
Bob Buyer changed his mind about purchasing 456 Right Here Avenue. He
called his salesperson and said, "Please withdrawal my offer, I do not wish to
purchase 456 Right Here Avenue." The action taken by Bob Buyer is called:
,A: Breach of Contract
B: Revocation
C: Counter-offer
D: Rejection - CORRECT ANSWER-revocation
Question 55 XXX
What is the purpose of a deed?
A: It provides evidence of marketable title
B: It transfers legal title from a grantor to a grantee
C: It transfers title upon the death of a grantor
D: If delivered correctly it constitutes constructive notice - CORRECT
ANSWER-It transfers legal title from a grantor to a grantee.
Question 56
The market data approach when used by a licensee:
A: Replaces the need for an appraisal
B: Is an appraisal
C: Is an opinion of a property's value
D: Gives an opinion of the price a property will most likely sell for on the open
market - CORRECT ANSWER-Gives an opinion of the price a property will most
likely sell for on the open market.
Question 57
A new home has just been built. The builder of the home is going to live in it for 3
weeks prior to closing. Must the builder complete a Real Estate Condition
Report?
A: Yes, because the property meets the definition of one-to-four dwelling units
B: No, because the property is not listed with a broker
C: No, because the property is new construction and is exempt
, D: Yes, because the property will establish a pattern of sales for the builder -
CORRECT ANSWER-A: Yes, because the property meets the definition of
one-to-four dwelling units
Question 58
Broker Moore has a listing contract with Sarah. Nancy goes to Sarah's open
house and decides she wants to make an offer on the house. Nancy signs a
Buyer Agency Agreement with Broker Moore. Broker Moore then writes the offer
to purchase. Which of the following correctly identifies the relationship of Broker
Moore to Sarah and Nancy? (Assume for this question all disclosure obligations
have been met).
A: Broker Moore has a single agency relationship with Sarah only
B: Broker Moore has a multiple representation relationship
C: Broker Moore has created an illegal relationship with Nancy and Seller
D: Broker Moore has a single agency relationship with Nancy only - CORRECT
ANSWER-B: Broker Moore has a multiple representation relationship.
Question 59
At what point in the real estate transaction does a buyer receive equitable title?
A: At closing
B: When the offer is accepted
C: When all contingencies have been removed
D: When binding acceptance occurs - CORRECT ANSWER-C: When all
contingencies have been removed
Question 60 XXX
A neighborhood is improved with new curbs and gutters. If the curbs and gutters
were funded by a special assessment, which home would most likely be charged
the most?
A: A house with existing an curb and gutter that is damaged.
B: A house with the highest assessed value.
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