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Delaware RE State Exam Questions and Answers
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Delaware RE State Exam Questions and Answers
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Delaware RE State Exam Questions andAnswers
Delaware .licensee .Shane .is .representing .John .and .Tiffany .Smith, .who .are .looking .to .buy .their .first .h
ome. .When .Shane .presents .their .offer .to .the .seller's .agent, .he .gets .a .funny .feeling .about .the .situati
on. .When .the .seller .rejects .the .Smith's .extremely .reasonable .offer .without .even .countering, .Shane .f
eels .certain .there's .an .element .of .discrimination .involved .based .on .race. .Who .should .the .Smiths .an
d .Shane .go .to .with .their .suspicions? .- .(correct .answer) .-
The .Delaware .State .Human .Relations .Commission
All .commercial .leases .should .contain .the .conditions .under .which .the .lease .can .be .terminated; .the .n
ames .and .signatures .of .all .parties; .and .______. .- .(correct .answer) .-
Any .additional .information .based .on .negotiations .and .specific .situations
Bella .is .selling .her .Delaware .condo .unit, .but .she .isn't .using .a .real .estate .licensee .to .help .her .with .t
he .sale. .When .she .neglects .to .provide .the .buyers .with .a .resale .certificate .before .they .sign .the .purc
hase .contract, .which .of .these .may .happen? .- .(correct .answer) .-
The .buyer .may .cancel .the .contract .within .five .days .of .receiving .the .resale .certificate.
Garth's .buyer .clients .have .signed .the .residential .sales .contract .and .submitted .their .offer .to .the .selle
rs. .Prior .to .signing, .the .buyers .had .an .attorney .review .the .terms .of .the .contract, .and .the .attorney .t
hought .everything .looked .good. .Do .the .buyers .and .sellers .have .a .legally .binding .contract? .- .
(correct .answer) .-No, .because .the .contract .is .not .legally .binding .until .both .parties .have .signed .it.
Shirley .is .helping .the .Terrells .buy .their .first .home, .a .two-
bedroom .condo .in .a .quiet .neighborhood. .She .advises .them .to .review .the .resale .certificate .before .t
hey .submit .their .offer. .What .information .will .the .certificate .give .them? .- .(correct .answer) .-
Declarations, .CC&Rs, .and .financials .for .the .community
Licensee .Rick .is .helping .Mike .sell .his .mother's .home. .Mike .is .the .executor .of .his .mother's .estate. .W
hich .form .did .Rick .give .Mike .to .complete .for .the .legally .required .property .condition .disclosures? .- .
(correct .answer) .-
Seller's .Real .Property .Condition .Report .and .Radon .Disclosure .- .Exempt .Property .Certification
, Which .of .the .following .is .a .true .statement .about .the .wood-
destroying .insect .inspection .in .Delaware? .- .(correct .answer) .-
It's .not .required .by .law, .but .lenders .often .require .this .inspection .before .they'll .approve .a .loan.
What's .NOT .true .about .seller .disclosure .of .radon .hazards .in .Delaware? .- .(correct .answer) .-
All .real .property .sales .in .Delaware .require .radon .disclosure; .there .are .no .exemptions.
Property .with .ownership .by .more .than .one .person .is .known .as .______. .- .(correct .answer) .-
Co .- .Ownership
Which .of .the .following .Delaware .residential .real .estate .transactions .is .exempt .from .the .requirement
.to .provide .the .Seller's .Disclosure .of .Real .Property .Condition .Report? .- .(correct .answer) .-
A .transfer .by .Juan .in .his .duties .as .the .administrator .of .Horace's .trust
Which .of .the .following .laws .covers .lease .transactions .for .Delaware .rangeland .for .livestock? .- .
(correct .answer) .-Delaware .Agricultural .Leases .Act
What .happens .after .a .foreclosure .if .there .isn't .enough .money .from .the .sale .to .pay .off .all .of .the .lie
n .holders .against .a .property? .- .(correct .answer) .-
The .former .owner .may .owe .a .debt .to .lien .holders .who .aren't .fully .paid.
In .title .theory .states, .which .of .the .following .is .true? .- .(correct .answer) .-
The .borrower .doesn't .hold .the .legal .title .to .the .property .until .the .loan .is .paid .in .full.
Betty .and .John .are .buying .a .three-
acre .parcel .of .unimproved .land .in .Delaware. .What .notice .does .state .law .require .in .the .purchase .co
ntract? .- .(correct .answer) .-
Notice .to .buyers .that .they .may .need .to .install .water .and .sewer .systems .and .will .need .a .site .evalua
tion .approved .to .do .so.
Delaware .buyers .Nate .and .Tina .are .excited .about .the .home .they've .purchased .in .the .Woodland .Hill
s .planned .unit .development. .It's .one .of .the .first .few .homes .completed .in .the .100-
home .plan. .As .part .of .the .transaction, .what .does .DUCIOA .require .the .developer .to .give .Nate .and .Ti
na? .- .(correct .answer) .-
A .public .offering .statement .that .discloses .how .the .community .will .be .governed .and .other .essential .
disclosures
Which .of .these .actions .is .a .Delaware .statutory .agent .allowed .to .take? .- .(correct .answer) .-
Assist .clients .in .negotiating .an .offer
The .purpose .of .the .Delaware .Real .Estate .Commission .is .to .protect .the .public .by .______. .- .
(correct .answer) .-Developing .standards .for .the .real .estate .industry
Properties' .taxable .assessments .are .calculated .based .on .the .county's .______. .- .(correct .answer) .-
Ratio
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