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Promulgated Contract form Practice exam (Certified Healthcare Protection Administrator)Already
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8/29/24, 3:21 AMPromulgated Contract form Practice exam
Jeremiah
Terms in this set (64)
If a buyer decides to terminate a contract, B) False
the seller must agree to the termination.
A) True
B) False
Which of the following, with written, consent, A) The Broker representing the seller and buyer
may act as an Intermediary?
A) The Broker representing the seller and
buyer
B) The Broker cooperating with the listing
broker
C) The salesman working with the seller and
buyer
D) The salesman sponsored by a broker
representing the seller
An agent would use the same contract for FALSE
new construction no matter if it was
completed or incomplete.
A) True
B) False
Regarding mediation - the Buyer and Seller B) False
are obligated under the terms of the
Residential contract to abide by the ruling of
the mediator.
A) True
B) False
A bilateral contract is: A) A promise in exchange for a promise
A) A promise in exchange for a promise
B) A promise made only by the agent
C) A promise made only by the seller
Promulgated Contract form Practice exam
D) No promise
1/11
, 8/29/24, 3:21 AM
The option paragraph of the contract B) False
creates an executed contract.
A) True
B) False
A unilateral contract only binds one party to A) True
perform.
A) True
B) False
It is required by law that a seller disclosure A) True
any information they have regarding their
property. They may use any form or notice
that they wish.
A) True
B) False
The Non-Realty Items addendum form for D) A warranty and guarantee from the seller that the items are in working condition
transfer of personal property can include the
following EXCEPT
A) An agreed dollar amount between buyer
and seller for the conveyance
B) A place to list the personal property to be
conveyed
C) A representation by Seller that the items
are owned free and clear of encumbrances
D) A warranty and guarantee from the seller
that the items are in working condition
The Buyer/Tenant Representation Agreement B) False
must always be signed by the agent's
sponsoring broker.
A) True
B) False
A survey is required on all Condominium B) False
Contracts.
A) True
B) False
Once a contract goes to closing and is B) False
funded to the Seller, the Seller has no further
liability for any representations the Seller
may have made prior to the closing.
A) True
B) False
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