FREC Course I Practice Exam | 100% Correct Answers | Verified | Latest 2024 Version

a licensed real estate broker has been hired by a lender to appraise a home for a buyer. who has applied for an FHA loan. Which statement is TRUE regarding this situation? A. the broker may not charge for this assignment B. the broker's license entitles him to appraise this property C. the broker is required to be a state-certified appraiser to perform this appraisal assignment D. the broker may not accept this appraisal assignment because to do so is a conflict of interest - C. the broker is required to be a state-certified appraiser to perform this appraisal assignment (unit 16) Which disclosure must be given to the buyer of both new and resale residential condominium units? - declaration - a condominium is created by recording the declaration of condominium and is part of the condominium documents that must be given to all condominium purchasers the financial term applied to the use of borrowed funds to finance the purchase of an office building is - leverage (unit 17) a single agent broker received an offer on a listed property at the seller's price and terms. before informing the seller, the broker received a higher offer. the broker submitted only the first offer, and the seller, his principal, accepted it. the broker - has violated his fiduciary duty to his principal (unit 4) a real estate brokerage company is a transaction broker for a buyer. the buyer wants to purchase a new home so the sales associate takes him to three model centers listed by three competing real estate companies. the sales associate must give a written no brokerage relationship notice to - no one