Delaware RE State Exam Practice Test.pdf file:///C:/Users/HP/Desktop/New%20folder%20(4)/Delaware%20RE
Delaware RE State Exam Questions & Answers
Verified Correctly
1. Delaware licensee Shane is representing John and Tiffany Smith, who are looking to
buy their first home.When Shane presents their offer to the seller'sagent, he gets a funny
feeling about the situation. When the seller rejects
the Smith's extremely reasonable offer without even countering, Shane feelscertain
there's an element of discrimination involved based on race. Who should the Smiths and
Shane go to with their suspicions?
Answer The Delaware StateHuman Relations Commission
2. All commercial leases should contain the conditions under which the lease can be
terminated; the names and signatures of all parties; and .
Answer Anyadditional information based on negotiations and specific situations
3. Bella is selling her Delaware condo unit, but she isn't using a real estate licensee to
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,Delaware RE State Exam Practice Test.pdf file:///C:/Users/HP/Desktop/New%20folder%20(4)/Delaware%20RE
help her with the sale. When she neglects to provide the buyers with a resale certificate
before they sign the purchase contract, which of thesemay happen?
Answer The buyer may cancel the contract within five days of receiving theresale certificate.
4. Garth's buyer clients have signed the residential sales contract and submit-ted their offer
to the sellers. Prior to signing, the buyers had an attorney reviewthe terms of the contract,
and the attorney thought everything looked good. Do the buyers and sellers have a legally
binding contract?
Answer No, because the contract is not legally binding until both parties have signed it.
5. Shirley is helping the Terrells buy their first home, a two-bedroom condo ina quiet
neighborhood. She advises them to review the resale certificate beforethey submit their
offer. What information will the certificate give them?
Answer Dec- larations, CC&Rs, and financials for the community
6. Licensee Rick is helping Mike sell his mother's home. Mike is the executor ofhis mother's
estate. Which form did Rick give Mike to complete for the legally required property
condition disclosures?
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,Delaware RE State Exam Practice Test.pdf file:///C:/Users/HP/Desktop/New%20folder%20(4)/Delaware%20RE
Answer Seller's Real Property Condition Re-port and Radon Disclosure - Exempt Property
Certification
7. Which of the following is a true statement about the wood-destroying insectinspection
in Delaware?
Answer It's not required by law, but lenders often require this inspection before they'll approve
a loan.
8. What's NOT true about seller disclosure of radon hazards in Delaware?
Answer Allreal property sales in Delaware require radon disclosure; there are no exemptions.
9. Property with ownership by more than one person is known as .
Answer Co
- Ownership
10. Which of the following Delaware residential real estate transactions is ex-empt from
the requirement to provide the Seller's Disclosure of Real PropertyCondition Report?
Answer A transfer by Juan in his duties as the administrator of Horace'strust
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Delaware RE State Exam Questions & Answers
Verified Correctly
1. Delaware licensee Shane is representing John and Tiffany Smith, who are looking to
buy their first home.When Shane presents their offer to the seller'sagent, he gets a funny
feeling about the situation. When the seller rejects
the Smith's extremely reasonable offer without even countering, Shane feelscertain
there's an element of discrimination involved based on race. Who should the Smiths and
Shane go to with their suspicions?
Answer The Delaware StateHuman Relations Commission
2. All commercial leases should contain the conditions under which the lease can be
terminated; the names and signatures of all parties; and .
Answer Anyadditional information based on negotiations and specific situations
3. Bella is selling her Delaware condo unit, but she isn't using a real estate licensee to
1/8
1 of 24 10/24/2024, 7:59
,Delaware RE State Exam Practice Test.pdf file:///C:/Users/HP/Desktop/New%20folder%20(4)/Delaware%20RE
help her with the sale. When she neglects to provide the buyers with a resale certificate
before they sign the purchase contract, which of thesemay happen?
Answer The buyer may cancel the contract within five days of receiving theresale certificate.
4. Garth's buyer clients have signed the residential sales contract and submit-ted their offer
to the sellers. Prior to signing, the buyers had an attorney reviewthe terms of the contract,
and the attorney thought everything looked good. Do the buyers and sellers have a legally
binding contract?
Answer No, because the contract is not legally binding until both parties have signed it.
5. Shirley is helping the Terrells buy their first home, a two-bedroom condo ina quiet
neighborhood. She advises them to review the resale certificate beforethey submit their
offer. What information will the certificate give them?
Answer Dec- larations, CC&Rs, and financials for the community
6. Licensee Rick is helping Mike sell his mother's home. Mike is the executor ofhis mother's
estate. Which form did Rick give Mike to complete for the legally required property
condition disclosures?
2/8
2 of 24 10/24/2024, 7:59
,Delaware RE State Exam Practice Test.pdf file:///C:/Users/HP/Desktop/New%20folder%20(4)/Delaware%20RE
Answer Seller's Real Property Condition Re-port and Radon Disclosure - Exempt Property
Certification
7. Which of the following is a true statement about the wood-destroying insectinspection
in Delaware?
Answer It's not required by law, but lenders often require this inspection before they'll approve
a loan.
8. What's NOT true about seller disclosure of radon hazards in Delaware?
Answer Allreal property sales in Delaware require radon disclosure; there are no exemptions.
9. Property with ownership by more than one person is known as .
Answer Co
- Ownership
10. Which of the following Delaware residential real estate transactions is ex-empt from
the requirement to provide the Seller's Disclosure of Real PropertyCondition Report?
Answer A transfer by Juan in his duties as the administrator of Horace'strust
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3 of 24 10/24/2024, 7:59
