PEARSON VUE COMPREHENSIVE QUESTIONS AND
ANSWERS SET A+
✔✔failure of homeowners to pay for labor and materials to repair their home may result
in a:
a. bankers lien
b. mechanics lien
c. assessment lien
d. construction lien - ✔✔b. mechanics lien
✔✔a licensee places earnest money deposits into an operating account. this is an
example of
a. a properly managed escrow account
b. commingling of funds
c. conversion of funds
d. an advanced commision payment - ✔✔b. commingling
✔✔a verbal sales contract that involves the sale of real estate may:
a. not be enforceable in a court action
b. not be subject to RESPA
c. be a common method of consummating a sale
d. be assignable to a third party - ✔✔a. not be enforceable in a court action
✔✔when using the cost approach to determine the value of a residential dwelling, an
appraiser should:
a. adjust the price if economic changes occur between the dates of sale of comparable
properties and the appraisal date
b. use comparable property locations when estimating value
c. determine replacement value less depreciation
, d. determine potential net operating income - ✔✔c. determine replacement value less
depreciation
✔✔a broker lists a seller's property. an unrepresented buyer submits an offer to
purchase the seller's house and tells the broker that they will pay more than the offer
price if the seller requests it. in this situation, the broker is:
A. not obligated to convey the info to the seller b/c to do so would violate the broker's
relationship w/ the buyer
b. not obligated to convey the info to the seller b/c the buyer is not bound by this verbal
rep
c. obligated to withdraw from transaction because of conflicting obligations to both
parties
d. obligated to convey the info to seller - ✔✔d. obligated to give info to seller
✔✔the presence of gov-reg wetlands on a building lot
a. adds to the value of the lot
b. lowers property taxes
c. renders the lot useless
d. is a material fact - ✔✔d. is a material fact
✔✔before advertising a property through social media, a licensee MUST obtain written
authorization from the
a. real estate companys IT team
b. social media comp.
c. state real estate commish
d. seller - ✔✔d. seller
✔✔due to the homeowner's disability exemption, property taxes of $4,000 are reduced
to $3,000 in a transaction. however, the listing licensee fails to disclose to the buyer the
difference in the amount of property taxes to be paid by the buyer. failing to disclose this
material fact is an example of
a. exemption
b. misrep
c. misappropriation
d. mutual regression - ✔✔b. misrepresentation
✔✔if a prospective buyer is concerned about the electric service on a property, the
buyer's licensee SHOULD:
a. recommend a home warranty for the electric appliances
b. advise the buyer to hire inspectors to examine the property after closing
ANSWERS SET A+
✔✔failure of homeowners to pay for labor and materials to repair their home may result
in a:
a. bankers lien
b. mechanics lien
c. assessment lien
d. construction lien - ✔✔b. mechanics lien
✔✔a licensee places earnest money deposits into an operating account. this is an
example of
a. a properly managed escrow account
b. commingling of funds
c. conversion of funds
d. an advanced commision payment - ✔✔b. commingling
✔✔a verbal sales contract that involves the sale of real estate may:
a. not be enforceable in a court action
b. not be subject to RESPA
c. be a common method of consummating a sale
d. be assignable to a third party - ✔✔a. not be enforceable in a court action
✔✔when using the cost approach to determine the value of a residential dwelling, an
appraiser should:
a. adjust the price if economic changes occur between the dates of sale of comparable
properties and the appraisal date
b. use comparable property locations when estimating value
c. determine replacement value less depreciation
, d. determine potential net operating income - ✔✔c. determine replacement value less
depreciation
✔✔a broker lists a seller's property. an unrepresented buyer submits an offer to
purchase the seller's house and tells the broker that they will pay more than the offer
price if the seller requests it. in this situation, the broker is:
A. not obligated to convey the info to the seller b/c to do so would violate the broker's
relationship w/ the buyer
b. not obligated to convey the info to the seller b/c the buyer is not bound by this verbal
rep
c. obligated to withdraw from transaction because of conflicting obligations to both
parties
d. obligated to convey the info to seller - ✔✔d. obligated to give info to seller
✔✔the presence of gov-reg wetlands on a building lot
a. adds to the value of the lot
b. lowers property taxes
c. renders the lot useless
d. is a material fact - ✔✔d. is a material fact
✔✔before advertising a property through social media, a licensee MUST obtain written
authorization from the
a. real estate companys IT team
b. social media comp.
c. state real estate commish
d. seller - ✔✔d. seller
✔✔due to the homeowner's disability exemption, property taxes of $4,000 are reduced
to $3,000 in a transaction. however, the listing licensee fails to disclose to the buyer the
difference in the amount of property taxes to be paid by the buyer. failing to disclose this
material fact is an example of
a. exemption
b. misrep
c. misappropriation
d. mutual regression - ✔✔b. misrepresentation
✔✔if a prospective buyer is concerned about the electric service on a property, the
buyer's licensee SHOULD:
a. recommend a home warranty for the electric appliances
b. advise the buyer to hire inspectors to examine the property after closing
