Exam (elaborations)

Alabama Salesperson Pre-license Exam Questions and Answers 100% Pass

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Course
Real Estate

Institution
Real Estate

Alabama Salesperson Pre-license Exam Questions and Answers 100% Pass The end result of rescinding the contract is that? - ANSWER-The contract is null and void If a contractor is planning to build a new apartment complex he or she needs to consult the Americans with disabilities act standards to...

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Uploaded on November 4, 2024
Number of pages 34
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Type Exam (elaborations)
Contains Questions & answers

alabama salesperson pre license exam questions and

Institution Real Estate
Course Real Estate

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Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024

Alabama Salesperson Pre-license Exam

Questions and Answers 100% Pass

The end result of rescinding the contract is that? - ANSWER✔✔-The contract is null and void

If a contractor is planning to build a new apartment complex he or she needs to consult the Americans

with disabilities act standards to - ANSWER✔✔-Avoid any potential find by the United States Attorney

General

What is true regarding the platform-frame construction method? - ANSWER✔✔-It is the type of

construction most generally used in home building

What type of agent has the power of attorney? - ANSWER✔✔-Universal Agent

An agent's duties to a principal include which of the following? - ANSWER✔✔-Disclosure or notice

Licensee Finn reported to the lender that the sales price was $5000 higher than it actually was as the

buyer requested him to - ANSWER✔✔-This is an example of intentional fraud

Does a seller have the option to reject subagency when signing the listing agreement? - ANSWER✔✔-

Yes, the seller can choose to reject or accept subagency

In most states - ANSWER✔✔-A licensee must provide a(n) written disclosure of any existing agency

relationships to all parties at first substantive contact to whom they provide real estate brokerage

services

Which of the following is a common type of agency relationship? - ANSWER✔✔-Buyer/Tenant agency

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,Copyright © KAYLIN 2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED FIRST PUBLISH NOVEMBER, 2024

Licensee Chad works for broker Michael. Licensee Chad has a listing agreement with seller Ray. Licensee

Chad decided to transfer brokers. What will most likely happen with Chad's listing? - ANSWER✔✔-It will

stay with Michael's brokerage

An owner set a minimum amount that he wants to receive from the sale of the property and lets the

broker have as commission any amount above the set minimum - ANSWER✔✔-In a net listing

Both the agent and seller just signed the listing agreement. What must the licensee give to the seller

now? - ANSWER✔✔-A copy of the signed listing agreement

Carson had partial ownership of a property. He sold his ownership share for $40,000 after receiving

permission from the other owners before the closing. - ANSWER✔✔-Carson was a joint tenant

Albert had the legal authority to sign the $128,000 sales contract for a property held in trust. -

ANSWER✔✔-Albert is the executor of the estate

There is no time limit on tenant Trent's lease. What type of lease has he entered? - ANSWER✔✔-An

estate at will

Lamar sales another broker's $800,000 listing for $785,000 at a commission rate of 6.5%. Lamar has a

40% commission split with his broker. If there is also a 50% brokerage split, what commission will Lamar

receive? - ANSWER✔✔-$10,205

Sales person Jonathan joins a brokerage as an independent contractor. Which of the following will he

probably have to pay for on his own? - ANSWER✔✔-Self-employment tax

Which of the following is typically a licensee's duty to the brokerage? - ANSWER✔✔-Work to promote

and sell the broker's listings

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Insurance policies are called - ANSWER✔✔-Aleatory contracts because the insurer only performs the

promised action if a specified chance event occurs

What happens if an offeree alters and then signs any part of an offer? - ANSWER✔✔-Voided

A conveyance instrument for a property that is sold to enforce a tax lien is? - ANSWER✔✔-A tax deed

Which of the following properties would most likely be exempted from real estate taxes? - ANSWER✔✔-

A building owned by the department of transportation

Tax assessors can do "spot" reassessment of properties unless.. - ANSWER✔✔-A material change in the

property has been reported

Before someone can move into a new home, a building inspector must see if the structure complied with

building codes. - ANSWER✔✔-If the home does, the municipality or county will issues a certificate of

occupancy

In a neighborhood, there is a transition zone between residential zone and a commercial zone. This

transition zone is also often called a? - ANSWER✔✔-Buffer zone

Which document guarantees a persons right to own land in the United States? - ANSWER✔✔-The US

Constitution

What happens under the strict foreclosure process? - ANSWER✔✔-The lender filed suit asking a court to

order the borrower to pay the mortgage debt by a certain date or the lender will automatically gain for

title up to the property

A foreclosure sale generated $500,000. What is the first item to be paid out of this amount? -

ANSWER✔✔-The cost of sale including advertising attorney fees and trustee fees

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What is one of the means of enforcing a lien against real estate? - ANSWER✔✔-Powers granted in the

loan document

Seller Gareth is certain there are no clouds on his property's title. What type of deed should he provide

buyers to show his assurance of title? - ANSWER✔✔-General warranty

Title records protect the public by giving all concerned parties what? - ANSWER✔✔-Constructive notice

of the condition of a property's legal title

Which of the following is an example of an involuntary lien? - ANSWER✔✔-A judgment lien

Terrell is hosting a one-time sporting event on his property. Every person who buys a ticket has

essentially - ANSWER✔✔-Bought a license that allows them to be on Terrel's property during the

sporting event

How is a testamentary trust different from a living trust? - ANSWER✔✔-A testamentary trust only takes

effect when the truster dies

Upon the death of a joint tenant, the tenant's interest in the estate - ANSWER✔✔-Passes to the surviving

joint tenants

Which of the following rights is included in a fee simple absolute estate? - ANSWER✔✔-Right to grant an

easement

Which of the following statements about eminent domain is false? - ANSWER✔✔-It can only be applied

in cases where the owner agrees with the government's superior claim

What terms are included in every metes and bounds legal description? - ANSWER✔✔-Distances, angles,

and reference points

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