PreLicensing Final Exam| Q & A, 100% verified| 2024

PreLicensing Final Exam| Q & A, 100% verified| 2024 A broker advertises his listing as waterfront. The property has a great view of the lake, but there is another lot located b/w the listed property & the lakeshore. The listing agent may be guilty of Willful B. Misrepresentation A broker engaging in property management is generally tasked by the property owner with C. Reinvesting profits to build the owner's investment portfolio A broker is aware the public road in front of her listing is scheduled to be widened to a 4-lane divided highway next year. The listing agent C. Must volunteer the information to all prospective buyers A broker is preparing a CMA for a subject property with 3200 sq ft. A comparable property has 2750 sq ft. The estimated value of 450 additional sq ft is $22,500. The broker should D. add 22,500 to the sales price of the comparable property A broker may be subject to disciplinary action by the Commission in which of the following situations? B. A broker helps a buyer-client complete an offer to purchase with many addenda A broker obtains an exclusive right to sell listing for her company. What is the agency relationship b/w the owner of the listing and all the brokers that work for the company? B. Seller Subagency A buyer agent must disclose to the seller or the seller's agent that the broker represents the buyer. A. At the buyer agent's initial contact with the seller or seller's agent A buyer has contracted to purchase a home for $275,000. The buyer paid $4,000 earnest money deposit and the sale will close on March 30. The buyer has already received loan approval for an 80% loan-to-value conventional loan. The lender is charging the borrower a 1% loan origination fee and 1/2 discount points. The lender is requiring the borrower to deposit 7 months of real property taxes and 2 months of homeowner insurance premium into an escrow account at settlement. The homeowner insurance premium for the first year is $864 and is to be paid at settlement. Real property taxes for the year total $3635 and have not been paid for the current year. For prorations, use a 30-day month/360-day year & assume the seller owns the day of settlement. Additional closing expense for the buyer total $1500. What is the net amount that the buyer will owe at settlement, rounded to the nearest dollar?