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The CE Shop Final Exam Proctor questions and answers. The CE Shop Final Exam Proctor questions and answers. The CE Shop Final Exam Proctor questions and answers. The CE Shop Final Exam Proctor questions and answers.

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  • August 24, 2024
  • 38
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • the ce shop final exam proctor questions and answe

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The CE Shop Final Exam Proctor
questions and answers




What \type \of \agency \exists \because \of \the \actions \and \behavior \of \the \parties?



Action \agency

Behavioral \agency

Express \agency

Implied \agency \- \correct \Answers \✔✔ \-Implied \agency

Which \entity \ensures \that \contractors \perform \their \work \according \to \code \by \inspecting \their \
job \sites?



City \hall

The \attorney \general

The \building \department

The \secretary \of \state \- \correct \Answers \✔✔ \-The \building \department

The \secondary \mortgage \market \is \comprised \of \_________________________.



FNMA, \GNMA, \FHLMC, \& \lending \institutions \that \buy \loans \from \other \lenders

Lending \institutions \that \lend \directly \to \consumers

Savings \and \loans, \thrifts, \and \credit \unions

,The \VA \and \the \FHA \- \correct \Answers \✔✔ \-FNMA, \GNMA, \FHLMC, \and \lending \institutions \
that \buy \loans \from \other \lenders



The \secondary \market \is \where \loans \are \resold.

What \is \the \highest \penalty \an \unlicensed \individual \practicing \real \estate \may \be \fined \for \more
\than \two \offenses?




$10,000 \per \violation

$1,000 \per \violation

$25,000 \per \violation

$2,500 \per \violation \- \correct \Answers \✔✔ \-$25,000 \per \violation

Which \document \is \provided \to \borrowers \no \fewer \than \three \days \prior \to \closing \and \
provides \disclosures \about \the \costs \of \the \transaction?



Closing \Disclosure

Escrow \Closing \notice

Loan \Estimate

The \Mortgage \Servicing \Transfer \disclosure \- \correct \Answers \✔✔ \-Closing \Disclosure

Which \of \the \following \is \an \example \of \a \development \cost?



Crime \rates

Increased \demand \on \infrastructure

Lower \unemployment

School \ratings \- \correct \Answers \✔✔ \-Increased \demand \on \infrastructure

Which \option \best \describes \a \delivery \and \acceptance \of \a \deed \as \required?

,Grantor \has \acknowledged \and \voluntarily \signed \the \deed \in \front \of \a \public \notary \and \
delivered \it \in \person \to \the \grantee \or \an \agent \of \the \grantee



Grantor \has \handed \the \grantee \the \deed \and \the \grantee \has \signed \it \in \front \of \a \public \
notary \voluntarily \accepting \it.



Grantor \has \mailed \the \deed \to \the \county \clerk's \office \for \recording.



Grantor \has \signed \the \deed \and \left \it \on \the \grantees \patio. \- \correct \Answers \✔✔ \-Grantor \
has \acknowledged \and \voluntarily \signed \the \deed \in \front \of \a \public \notary \and \delivered \it \
in \person \to \the \grantee \or \an \agent \of \the \grantee

Which \document \given \before \closing \provides \an \estimate \of \the \costs \a \buyer \is \likely \to \pay \
at \settlement?



Abstract \of \title

Closing \Disclosure

Loan \Estimate

The \Mortgage \Servicing \Transfer \disclosure \- \correct \Answers \✔✔ \-Loan \Estimate



The \Loan \Estimate \provides \the \buyer \with \the \costs \they \are \likely \to \pay \at \settlement \and \
discloses \the \mortgage \loan \specifics, \such \as \its \key \features, \costs, \and \risks.

In \the \sales \comparison \approach, \the \appropriateness \of \the \various \comparable \sales \in \
relationship \to \the \subject \is \considered \in \a \process \known \as \______, \where \certain \factors \
may \be \given \more \weight.



Averaging

Bracketing

Conformity

Correlation \- \correct \Answers \✔✔ \-Correlation

, A \licensee \says, \"This \is \a \dream \home \with \the \best \views \in \town." \This \is \an \example \of \
______.



A \lie

Intentional \misrepresentation

Positive \misrepresentation

Puffery \- \correct \Answers \✔✔ \-Puffery

What's \the \term \for \an \addition \to \a \sales \agreement \form \that \can \be \added \before \it \is \
signed \without \changing \any \of \the \other \terms \that \have \already \been \agreed \upon?



Addendum

Amendment

Annexation

Appurtenance \- \correct \Answers \✔✔ \-Addendum

In \accordance \with \the \Maryland \Property \Condition \Disclosure \Law, \when \is \the \seller \required \
to \provide \the \Maryland \Residential \Property \Disclosure \and \Disclaimer \Statement \to \the \buyer?



No \more \than \24 \hours \after \both \parties \have \signed \the \agreement.



Only \before \entering \into \a \contract \of \sale \with \the \buyer.



Only \if \the \buyer \asks \for \it.



On \or \before \entering \into \a \contract \of \sale \with \the \buyer. \- \correct \Answers \✔✔ \-On \or \
before \entering \into \a \contract \of \sale \with \the \buyer.

You \have \found \the \perfect \home \for \Lucy \and \she \is \ready \to \make \an \offer. \The \home \was \
built \in \1938. \Who \is \responsible \for \scheduling \paying \for \the \home's \lead \inspection?

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