Exam (elaborations)
Barney Fletcher Final Exam Questions with 100% Correct Answers | Verified | Latest Update
- Course
- Institution
Barney Fletcher Final Exam Questions with 100% Correct Answers | Verified | Latest Update
[Show more]
Content preview
Term 1 of 97A seller wants to list the property with a broker, but wants to avoid paying
any commission should the seller be fortunate enough to sell the
property. himself. Which of the following should the seller avoid signing?
Give this one a go later!
an exclusive agency listing
, an exclusive right to sell listing
an open listing
all listings
Don't know?
Term 2 of 97
Security deposits kept in a designated rental trust account are credited to:
Give this one a go later!
the broker
the tenant
the landlord
the lessor
Don't know?
Term 3 of 97
,A lender would require a blanket mortgage in which of the following
circumstances?
Give this one a go later!
if the borrower was going to use several unencumbered properties as security
if there was a mortgage clause stating that upon default, it would become a general lien
if the lender made the loan to encompass all of the borrower's debts
none of the above
Don't know?
Term 4 of 97
If a purchaser tells a salesperson to hold the purchaser's earnest money
check for 5 days before depositing it, the salesperson must:
Give this one a go later!
deposit the check in the broker's trust account as soon as practicable
hold the check until the 5th day and then deliver it to her broker
, deliver the earnest money check to the broker as soon as practicably possible,
with the purchaser's written instructions for the broker to hold the check
tell the purchaser the check won't clear in less than 5 days
Don't know?
Term 5 of 97
If a purchaser tells the salesperson that the seller has clearly breached his
responsibilities and the purchaser demands the immediate refund of his
earnest money deposit, the salesperson should:
Give this one a go later!
calm the purchaser down and assure him that the broker will return the funds in no more
than one week's time
tell the purchaser to see his own attorney since the salesperson is not allowed to give
legal advice
tell the purchaser that the most he can take without the seller's agreement is half of the
deposit
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller codersimon. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.00. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
77254 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now