FINAL EXAM (Bob Brooks) Questions and Correct Answers | Latest Update
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Course
Bob Brooks
Institution
Bob Brooks
When must earnest money and/or deposits accepted by the broker be put into the escrow
account?
a. Earnest money does not have to be put into an escrow account.
b. By the close of business of the next banking day
c. Within 24 hours
d. Within 48 hours
b. By the close of business of the ne...
Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
FINAL EXAM (Bob Brooks) Questions and
Correct Answers | Latest Update
When must earnest money and/or deposits accepted by the broker be put into the escrow
account?
a. Earnest money does not have to be put into an escrow account.
b. By the close of business of the next banking day
c. Within 24 hours
d. Within 48 hours
b. By the close of business of the next banking day
In order to record a deed, it MUST be in writing and:
a. signed by grantee
b. recite the actual purchase price
c. acknowledged
d. be free of all liens
c. acknowledged
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, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
a. Allows the owner to sell through his own efforts without obligation to pay a commission
b. Need not contain a definite termination date
c. Means the seller pays the agency regardless of who sells the property
d. None of the above
a. Allows the owner to sell through his own efforts without obligation to
pay a commission
A lease that requires a lessor to pay operating expenses of the property is called:
a. Gross lease
b. Net lease Incorrect
c. Graduated lease
d. Participation lease
a. Gross lease
The idea that a property's value is safer when surrounded by similar properties is the principle
of:
a. Substitution
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b. Progression
c. Regression
d. Conformity
d. Conformity
An abstract of title shows:
a. Devises
b. Foreclosures
c. Liens
d. All of the above.
d. All of the above.
The chain of title is broken between a previous owner and the present owner. To convey the
title, the following will probably be required:
a. title inspection
b. quiet title suit
c. contrct for deed
d. bill of sale
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, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
b. quiet title suit
A real estate agent may give an opinion as to the sales price of real estate for the purpose of
a prospective listing or sale, as long as:
a. It is not referred to as an appraisal.
b. The seller promises to list their property for no less than the price opinion.
c. The seller promises to accept no less than the price opinion, regardless of the appraisal
price.
d. The price opinion is equal to the appraisal price.
a. It is not referred to as an appraisal.
A closing which is handled by one agent being responsible for collecting all signatures, money
and documents WOULD be called:
a. Act of sale closing.
b. Escrow closing.
c. Settlement meeting.
d. Consideration.
b. Escrow closing.
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