DELAWARE REAL ESTATE CERTIFICATION
EVALUATION QUESTIONS AND SOLUTIONS
PREMIUM REVIEW MATERIAL
●● Piper contracted with Alex to sell her Dover home to him for
$350,000. If Alex breaches the sales contract, how long does Piper have
to sue Alex for breach of contract?
Eight years
Four years
Answer: Three years
●● Which of the following statements accurately describes the written
lease requirements in Delaware?
Lease agreements always have to be written.
Lease agreements don't have to be written.
Lease agreements for 120 or more days must be written.
Lease agreements for more than one year must be written.
Answer: Lease agreements for more than one year must be written.
●● Sondra, a buyer, signs all the required mortgage documentation,
promising to make all payments to her lender. Unfortunately, Sondra
falls on hard times and misses multiple payments, and the bank indicates
,that it's going to foreclose on her. The foreclosure proceedings are more
difficult for the lender because Sondra holds the title to the land. What
kind of state does Sondra live in?
A deed of trust theory state
A lien theory state
An intermediary theory state
A title theory state
Answer: A lien theory state
●● Which form would the seller (who is the property developer) use to
make legally required disclosures for a newly constructed home in a
Delaware subdivision?
Developer's Real Property Condition Report
Seller's Real Property Condition Report
Seller's Real Property Condition Report and Radon Disclosure - Exempt
Property Certification
Seller's Real Property Condition Report - New Construction Only
Answer: Seller's Real Property Condition Report - New Construction
Only
,●● Which of the following provisions of the Delaware residential sales
contract states that the sellers bear responsibility for any loss in value or
damage to the house prior to closing?
Homeowners Warranty
Loss of Value
Notice to Sellers
Risk of Loss
Answer: Risk of Loss
●● Which of the following is a true statement about general exemptions
in Delaware?
Charitable and religious property are typically county-specific
exemptions.
Counties may offer county-specific exemptions, such as for cemeteries.
Farmland is typically exempt statewide.
Governmental and educational property are typically county-specific
exemptions.
Answer: Counties may offer county-specific exemptions, such as for
cemeteries.
●● Delaware's statutory agency is different from common law agency
because it _______.
, Begins with an agreement to compensate the licensee
Creates a fiduciary relationship
Doesn't require a written agreement to establish the agency relationship
Prohibits an agent from representing both the buyer and the seller in the
same transaction
Answer: Doesn't require a written agreement to establish the agency
relationship
●● New Castle County resident Alex pays her rent to her landlord, Kyle,
who lives in Sussex County, on the first of the month. What is the grace
period on her rent payment?
10 days
Eight days
Five days
Three days
Answer: Eight days
●● Which of these would be an illegal place to put a real estate sign in
Delaware?
In the window of a real estate office
Next to a public road, at least 10 feet from the pavement edge
EVALUATION QUESTIONS AND SOLUTIONS
PREMIUM REVIEW MATERIAL
●● Piper contracted with Alex to sell her Dover home to him for
$350,000. If Alex breaches the sales contract, how long does Piper have
to sue Alex for breach of contract?
Eight years
Four years
Answer: Three years
●● Which of the following statements accurately describes the written
lease requirements in Delaware?
Lease agreements always have to be written.
Lease agreements don't have to be written.
Lease agreements for 120 or more days must be written.
Lease agreements for more than one year must be written.
Answer: Lease agreements for more than one year must be written.
●● Sondra, a buyer, signs all the required mortgage documentation,
promising to make all payments to her lender. Unfortunately, Sondra
falls on hard times and misses multiple payments, and the bank indicates
,that it's going to foreclose on her. The foreclosure proceedings are more
difficult for the lender because Sondra holds the title to the land. What
kind of state does Sondra live in?
A deed of trust theory state
A lien theory state
An intermediary theory state
A title theory state
Answer: A lien theory state
●● Which form would the seller (who is the property developer) use to
make legally required disclosures for a newly constructed home in a
Delaware subdivision?
Developer's Real Property Condition Report
Seller's Real Property Condition Report
Seller's Real Property Condition Report and Radon Disclosure - Exempt
Property Certification
Seller's Real Property Condition Report - New Construction Only
Answer: Seller's Real Property Condition Report - New Construction
Only
,●● Which of the following provisions of the Delaware residential sales
contract states that the sellers bear responsibility for any loss in value or
damage to the house prior to closing?
Homeowners Warranty
Loss of Value
Notice to Sellers
Risk of Loss
Answer: Risk of Loss
●● Which of the following is a true statement about general exemptions
in Delaware?
Charitable and religious property are typically county-specific
exemptions.
Counties may offer county-specific exemptions, such as for cemeteries.
Farmland is typically exempt statewide.
Governmental and educational property are typically county-specific
exemptions.
Answer: Counties may offer county-specific exemptions, such as for
cemeteries.
●● Delaware's statutory agency is different from common law agency
because it _______.
, Begins with an agreement to compensate the licensee
Creates a fiduciary relationship
Doesn't require a written agreement to establish the agency relationship
Prohibits an agent from representing both the buyer and the seller in the
same transaction
Answer: Doesn't require a written agreement to establish the agency
relationship
●● New Castle County resident Alex pays her rent to her landlord, Kyle,
who lives in Sussex County, on the first of the month. What is the grace
period on her rent payment?
10 days
Eight days
Five days
Three days
Answer: Eight days
●● Which of these would be an illegal place to put a real estate sign in
Delaware?
In the window of a real estate office
Next to a public road, at least 10 feet from the pavement edge
