Question 1

A licensee must provide disclosure of licensed status when acting as a principal if

Options :

A : the agent of the other party asks about this specifically.

B : the licensee does not have errors and omission insurance.

C : the licensee has any economic interest in the property.

D : any relative of the licensee has ever lived in the residence.

Answer: C

Question 2

A contract is delivered to the listing broker by a cooperating broker. The listing broker makes an appointment with the owner to present the offer at 7 p.m. of that day. Before 7 p.m., two more offers arrive on the same property. Which offer should be presented to the owner at the 7 p.m. appointment?

Options :

A : All three of the offers

B : The first offer received

C : The offer with the highest sale price

D : The offer most favorable to the seller, including price and all terms

Answer: A

Question 3

Which type of deed provides the purchaser of real estate the greatest protection?

Options :

A : quitclaim deed

B : trustees deed

C : general warranty deed

D : deed in trust

Answer: C

Question 4

An advertisement emphasizes information meant to appeal to a particular ethnic or national group in an effort to maintain the character of the neighborhood. From the viewpoint of the federal Fair Housing Act, this could constitute a violation known as

Options :

A : steering.

B : redlining.

C : blockbusting.

D : panic selling.

Answer: A

Question 5

A salesperson's client is the lessee. Who does the salesperson represent?

Options :

A : lender

B : tenant

C : landlord

D : lien holder

Answer: B