Frauds - Study guides, Class notes & Summaries
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NC 302 Post Licensing Correct Questions & Solutions(Verified)
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Classifying contracts: 
Express & Implied - ANSWER Express: Bilateral, executed 
Intentions stated (orally or written) 
 
Implied: Unilateral, executory 
Inferred from conduct or actions 
 
Classifying contracts: 
Bilateral & Unilateral - ANSWER Bilateral - two promises (both parties bound to do something) 
 
Unilateral - Only one party is bound 
 
Classifying Contracts: 
Executed & Executory - ANSWER Executed - All tasks performed (After closing) 
 
Executory - tasks remaining to be done (befor...
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LEB 320F Exam 1 Questions and Answers Already Passed
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LEB 320F Exam 1 Questions and 
Answers Already Passed 
 
What is the primary purpose of contract law? 
 To provide a framework for enforcing agreements between parties and resolving disputes 
that arise from breaches. 
 
What does "consideration" mean in the context of contract formation? 
 
 It refers to something of value exchanged between parties that is required for a contract to 
be legally binding. 
 
How does "capacity" affect the enforceability of a contract? 
 Capacity ensures that ...
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Ohio Real Estate Exam test bank Questions with answers 2023
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Ohio Real Estate Exam test bank Questions with answers 2023May a consumer who has been harmed by a licensee acting under her license as a real estate salesperson or broker immediately file a claim for payment from the Real Estate Recovery Fund? 
CORRECT ANSWER: No, the consumer must file a lawsuit, get a final judgment, and attempt to collect 
 
 
 
A listing agreement in which the agent may possibly be in competition with the client to see who can sell the house first is an exclusive 
CORRECT A...
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Barney Fletcher Cram Final Exam 100% correct answers
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Barney Fletcher Cram Final Exam 100% correct answersA seller wants to list the property with a broker, but wants to avoid paying any commission should the seller be fortunate enough to sell the property. himself. Which of the following should the seller avoid signing? 
 
A. an exclusive agency listing 
B. an exclusive right to sell listing 
C. an open listing 
D. all listings - correct answer B. an exclusive right to sell listing 
 
Mr. Smith listed his farm with broker Bob. Although Smith did n...
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BUS 263 Test 2- Updated Questions and Answers
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BUS 263 Test 2- Updated Questions and Answers 
Fred agrees to assume a debt owed by Guitars Inc. to Home Bank. The agreement is not in writing. To be enforceable under the "main purpose" rule, the promise must be for the benefit of 
a. Home Bank. 
b. Fred. 
c. any third party, such as a Guitars Inc. customer. 
d. Guitars Inc. 
Answer:Fred. 
 
 
Duane and Evan orally agree to a transfer of forty acres of farmland. Evan asks Finance Bank to lend him the funds to buy the land. Under the Statute o...
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California Real Estate Exam #2 Questions and Answers 100% Pass
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California Real Estate Exam #2 
Questions and Answers 100% Pass 
The maximum commission a broker may charge for the sale of residential property is: 
(a) set forth in the Real Estate Law. 
(b) determined by the broker's contract with his principal. 
(c) six percent of the total sales price of a residence. 
(d) determined by local custom. - Correct Answer ️️ -B 
There is currently no law which controls what amount may be charged by the broker. 
Therefore, it is set by agreement between the p...
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Law of Contracts - CHAMPIONS TEST Questions AND ANSWERS 2023 VERIFIED AND ALREADY PASSED
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Wrongful or criminal deception intended to result in financial or personal gain is 
called: - CORRECT ANSWERS fraud 
The Buyer and Seller Temporary Residential Lease forms may be used for a lease 
period not to exceed: - CORRECT ANSWERS 90 days 
__________ extend above the surface without limitation. - CORRECT ANSWERS 
air rights 
An example(s) of an appurtenance would be: - CORRECT ANSWERS 
easements 
There is no upper limit on the value of a Texas homestead. - CORRECT 
ANSWERS true 
A(n) ...
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Afsb 151 Basics Test Questions And Answers 100% Solved
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Afsb 151 Basics Test Questions And Answers 
100% Solved 
statutory bonds ️️a bond required by regulation or ordinance 
statutes of frauds ️️law originating in English Parliament requiring that, to be enforceable, 
certain contracts must be in writing and signed. Surety's promise to an obligee derives from 
statutes of frauds 
power of attorney ️️agreement authorizing one person to act as another's agent or attorney 
surety and insurance commonalities ️️assumption of risk, re...
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SC REAL ESTATE REVIEW QUESTIONS AND ANSWERS, GRADED A+/ VERIF| LATEST EXAM UPDATES| 2024/25 |IED/
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SC REAL ESTATE REVIEW QUESTIONS AND ANSWERS, 
GRADED A+/ VERIFIED/ 
The ___ establishes an agency relationship between the prop owner as principal and the brokerage as 
agent - -listing agreement 
the LA does which of the following - -creates an agency relationship between the listing brokerage 
and the property owner 
a brokerage agreement whereby the property owner hires 1+ brokerages, agrees to compensate only 1 
brokerage who produces a buyer, and reserves the right to sell by himself and...
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wcc exam 3 || with 100% Error-free Answers.
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2 general forms of wcc in the housing system correct answers 1. mortgage frauds 
-defined as the intentional misstatement of information which is relied on by a lender or underwriter to provide funding to purchase or to insure a mortgage loan 
 
2. rental/landlord fraud 
-landlord failure to provide rental properties that are safe, inhabitable, and up to code (slumlords) 
 
mortgage fraud enforcement: 
-which unit of the FBI is charged with investigating schemes and frauds perpetrated agains...
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