Question 1

A client is considering listing an industrially zoned 10-acre site. It has been vacant for several years, and was formerly used as an automobile junkyard. What would a responsible real estate licensee recommend the seller consider obtaining prior to putting the property on the market?

Options :

A : a radon measurement analysis

B : an environmental site assessment

C : an electromagnetic field determination

D : an air quality report from the Environmental Protection Agency

Answer: B

Question 2

According to the Real Estate Licensing Law, a real estate licensee can provide a rebate of the commission to a buyer

Options :

A : if the licensee is the broker.

B : if notated on the contract of sale.

C : provided it does not exceed 50% of the total commission.

D : if a writing confirming the terms of the rebate is provided to the buyer at closing.

Answer: D

Question 3

Which of the following is a radioactive odorless gas which may require mitigation?

Options :

A : radon

B : asbestos

C : formaldehyde

D : carbon monoxide

Answer: A

Question 4

A CORRECT statement about transaction brokers is that they:

Options :

A : represent both the buyer and the seller

B : represent neither the buyer nor the seller

C : are required to disclose confidential information

D : may conduct transactions without an active real estate license

Answer: B

Question 5

After announcing that a new city park will soon be developed, homes in the immediate area experience a rise in value. This is an example of which of the following principles of value?

Options :

A : change

B : contribution

C : anticipation

D : highest and best use

Answer: C