AREC Final exam Study Set Questions and Answers Updated 2024
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Course
2024/2025
Institution
2024/2025
AREC Final exam Study Set Questions
and Answers Updated 2024
When preparing the sales contract, when is it acceptable for a licensee who is not an attorney
to offer legal advice to the client? - Answer-Never
A set of guidelines for the ethical conduct of real estate licensees is called a - Answ...
Mary believes he'll do just that. Which of the following statements about this situation is
correct? - Answer✔✔-Kyle's actions may have created an implied agency agreement with Mary.
Which of the following is designed to protect buyers from financial loss if the title to the
property they buy has defects? - Answer✔✔-Title insurance
The Knolls are purchasing a property and are concerned about the title, so they want to have a
title search performed. Who can perform a title search? - Answer✔✔-A title insurance company
Jim is acting as a limited services representative to Sheree, who has decided to waive his duty to
negotiate on her behalf. Jim must provide Sheree with ______. - Answer✔✔-A waiver of duties
statement
Which term refers to the ordinances/regulations that protect the community and control
property development within subdivisions? - Answer✔✔-Subdivision regulations
Which of the following statements describes laws and ethics? - Answer✔✔-Laws are made by
the government, and ethics are dependent on conscience and values.
If you were a member of a local planning board, your responsibilities could include________. -
Answer✔✔-Determining zones within the municipality
While reviewing her purchase contract, Jeanette's client asked, "What does this inspection
contingency do?" How should Jeanette frame her response? - Answer✔✔-"The inspection
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