Rockwell Real Estate Tests Bundle Set

To determine an appropriate listing price for a property, a real estate agent will perform a/an ______ , which is related to but less rigorous than a/an ______ . A. CMA/appraisal B. Appraisal/CMA C. CMA/reconciliation D. Valuation/CMA Correct Answer-A. CMA/appraisal Explanation: An ag...

Which of the following loans would be subject to the Truth In Lending Act? Correct Answer-A loan to a first-time home buyer Art sold his house, which was not encumbered with a mortgage. Closing expenses were $5,264, and he paid a commission of 7% of the selling price. He received a check at closi...

what is RA dedicated to? Correct Answer-industrial automation + Allen Bradley what are RA flagship brands Correct Answer-rockwell Software + allen bradley + FactoryTalk RA success is based on.... Correct Answer-integrity RA success is based on.... Correct Answer-corporate responsibility ...

At what point in a transaction must you disclose your agency status in writing? Correct Answer--Before a party signs an offer You must disclose your agency status to each party in a transaction as soon as practicable. However, the initial disclosure may be oral - the law doesn't require written ...

At what point in a transaction must you disclose your agency status in writing? A. at closing B. when first meeting any potential party to the transaction C. when a party signs an offer D. Before a party signs an offer Correct Answer-D. Before a party signs an offer You must disclose your a...

A counteroffer: A. acts as a rejection of the initial offer B. is used to rescind a previously existing contract C. is used only to make an offer contingent on a particular event D. is used when a buyer wants to make an offer where the seller has already accepted an offer Correct Answer-A. act...

A _______ agreement is a contract between a seller and a real estate broker, authorizing the broker to find a buyer to purchase the property on the seller's terms. Correct Answer-listing To be legally entitled to a _______________, a listing broker must meet three requirements. The broker must...

Agency Relationships / Section 1 Correct Answer-... Agent Correct Answer-An agent is someone who has been authorized by a person to represent that person in dealings with third parties. Narrator: When most people think of agents, they think of the agents that represent famous athletes or en...

The owner of property located along a stream or river may have which type of water right? A. Alluvion B. Riparian C. Appropriation D. Littoral Correct Answer-Your Answer: B Riparian rights are water rights that belong to owners of property that borders a stream or river. (Littoral rights re...

For which of the following acts might a broker be subject to disciplinary action? a. Failing to include a termination date in an exclusive listing agreement b. Failing to include a termination date in an open listing agreement c. Keeping trust funds from different clients in a single trust ...