National Brokerage Final Exam Questions And Accurate Answers (A+)

National Brokerage Final Exam Questions And
Accurate Answers (A+)


What does a carryover clause do?



A. It protects the seller if the buyer cancels the sale



B. It allows for a six-week extension to the listing contract



C. It allows the broker to collect commission for some period of time after the listing has
expired



Prevents the seller from doing a FSBO sale up to six months after the listing expires -
Answer Allows the broker to collect a commission for some period of time after the
listing expires



What is the most important document at closing?



Settlement statement

Deed

Inspection reports

Listing contract - Answer Deed



Which of the following is a variable expense?



Real estate taxes

, Insurance

Advertising

Utilities - Answer Utilities



Which of the following is NOT a source of information related to professional ethics?



Federal laws

Licensing regulations

Real estate marketing copy

Real estate associations - Answer Real estate marketing copy



What is risk management as it relates to property management?



Controlling and limiting risk through proper insurance



Limiting financial risk via the operating budget



Overseeing preventive maintenance



Keeping the grounds cleared to

eliminate accident risk - Answer Controlling and limiting risk through proper insurance



Which of the following is responsible for completing a property disclosure statement?



Broker's office assistant

The cooperating agent

The sellers