REAL ESTATE LICENSE EXAM Questions Solved 100% Correct| Verified
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Course
Real Estate
Institution
Real Estate
which disclosure regarding radon is required when purchasing or leasing real property in
FL?
a. a disclosure statement in the contract indicating that the house has been tested for
radon and that the test indicated a safe level of radon
b. an estimate of the cost for a required radon test
c. a...
REAL ESTATE LICENSE EXAM Questions Solved
100% Correct| Verified
A woman gave an exclusive-right-of-sale listing to a broker to find a buyer for her
residential lot. While the woman was vacationing with her family, a buyer signed an
offer to purchase the woman's lot at the full price and terms of the listing agreement.
Which statement is TRUE?
a. because this is an exclusive-right-of-sale listing, the broker is authorized to accept the
offer on the woman's behalf
b. the broker may accept the offer on the woman's behalf, as long as she gets the
woman's signature on the contract immediately upon the woman's return
c. the exclusive-right-of-sale listing does not give the broker the authority to accept the
offer on the woman's behalf
d. the broker may accept the offer because it is a full-price offer - ✔✔c. the exclusive-
right-of-sale listing does not give the broker the authority to accept the offer on the
woman's behalf
A man and a woman enter into a written agreement. The man will mow the woman's
lawn every week during the mowing season and every third week during the winter. In
the middle of the summer, the man has back surgery. He hands over his lawn
maintenance contracts to a friend, who assumes the responsibility for all of the man's
customers for the remainder of the contract period. Which term describes this
situation?
a. breach
b. assignment
c. specific performance
d. mutual rescission - ✔✔b. assignment
,which applies to exclusive-right-of-sale listings?
a. the broker is due a commission regardless of who finds the buyer
b. the listing may be submitted to the MLS by the listing broker
c. the seller must consent to the terms of the listing agreement
d. all of these apply - ✔✔d. all of these apply
which disclosure regarding radon is required when purchasing or leasing real property in
FL?
a. a disclosure statement in the contract indicating that the house has been tested for
radon and that the test indicated a safe level of radon
b. an estimate of the cost for a required radon test
c. a disclosure statement in the contract indicating that the seller is required to have the
property tested for radon at the sellers expense if requested by the buyer
d. a disclosure statement in the contract explaining radon gas - ✔✔d. a disclosure
statement in the contract explaining radon gas
a real estate sales associate must disclose to a prospective buyer that
a. a former occupant of the property committed suicide in the home
b. the seller has been diagnosed with HIV
c. the family room addition does not comply with local building codes
d. families of other racial groups live in the immediate area - ✔✔c. the family room
addition does not comply with local building codes
,Normally, a sale contract involving real property contains a provision that in case of
breach by the buyer, the earnest money deposit will be regarded as
a. compensatory damages to the seller
b. liquidated damages to the seller
c. compensatory damages to the broker
d. liquidated damages to be divided between seller and buyer - ✔✔b. liquidated
damages to the seller
The most advantageous type of listing from the broker's point of view is
a. an open listing
b. an exclusive-agent listing
c. an exclusive-right-of-sale listing
d. a net listing - ✔✔c. an exclusive-right-of-sale listing
which statement is FALSE concerning florida's building code violation disclosure?
a. the seller is responsible for the costs associated with the code violation
b. the seller must inform the code enforcement agency regarding the name and address
of the buyer within 5 days of the title closing
c. copies of the pleadings and other documents concerning the code violation must be
given to the buyer
d. the disclosure requires a statement that the buyer is responsible for compliances with
the building code - ✔✔a. the seller is responsible for the costs associated with the
code violation
, A couple have decided to make a written offer to purchase a home built in the 1950s.
Which task is NOT required before signing the sale contract?
a. the couple must be given a copy of the EPA pamphlet concerning lead-based paint
hazards in the home
b. the seller must disclose any known presence of lead-based paint
c. the couple must have the home inspected for lead-based paint
d. the real estate sale contract must include a disclosure concerning lead-based paint -
✔✔c. the couple must have the home inspected for lead-based paint
contract - ✔✔defines the parties legal relationship and spells out each party's rights
and duties.
it is a voluntary agreement or promise between legally competent parties, supported by
legal consideration, to perform (or refrain from performing) some legal act
underlying every contract is the promise. in a real estate contract, the seller promises to
convey title to the real estate, and the buyer promises to pay the purchase price.
contract promises are enforceable by law
preparation of contracts - ✔✔Unless they are attorneys, real estate brokers and
associates may not prepare deeds, mortgages, promissory notes, or most other legal
documents.
real estate licensees may ASSIST buyers and sellers with the completion of 4 types of
contracts:
-listing agreement: employment contract between a broker and a seller
-buyer brokerage agreement: employment contract between a broker and a buyer
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