AYPO FINAL 2ND ATTEMPT TEST QUESTIONS ANSWERED CORRECTLY GRADED A+
Vince buys several acres of land to build a subdivision. He eventually breaks up the land into
smaller pieces, using which method? - Answers Lot and Block
To be valid for more than a year, a CC&R must be what? - Answers In writing
Are local government agencies exempt from paying property taxes? - Answers Yes
The owner passed away and no valid will or heirs could be identified. What process is the most
likely option to allow the city to take possession of the properties? - Answers Escheat
Is the potential for encroachments on neighbor properties usually included in appraisal reports?
- Answers No
Can text messages be seen to create a binding agreement? - Answers Yes
Conor listed a house for a seller who decided to pull home from the market after an offer was
accepted and ten days before closing. What recourse does Conor have to receive his comission?
- Answers Caroline, his Principal Broker, must sue the Seller
A lease of vacant land where the tenant can build but will be responsible for all further costs is
called what? - Answers Ground Lease
Can the owner of a building refuse to install a handicapped wheelchair ramp? - Answers No,
unless the cost is prohibitively expensive
Special Warranty Deed - Answers Only allows Buyer to hold Seller liable for losses from clouds
that were created or imposed on the property when she owned it.
Exclusive Agency Listing - Answers Means you give one agent the right to market your home but
you can still sell without paying them commisssion.
Exclusive Right-To-Sell Listing - Answers The agent is the only agent you've hired and the agent
is guaranteed to receive commissions when you sell your house.
A group of Brokers banded together and agreed not to use a certain inspector that had raise
their prices. This is a form of what? - Answers Group Boycotting which is anti-competitive and
an antitrust violation.
What is the maximum penalty for a real estate broker who lets their license lapse and continues
to practice real estate for two months? - Answers $1,500
What is the first step when dealing with a potential real estate violation? - Answers Investigation
How much continuing education is necessary to renew an inactive license while keeping the
license in an inactive state? - Answers None
Vince buys several acres of land to build a subdivision. He eventually breaks up the land into
smaller pieces, using which method? - Answers Lot and Block
To be valid for more than a year, a CC&R must be what? - Answers In writing
Are local government agencies exempt from paying property taxes? - Answers Yes
The owner passed away and no valid will or heirs could be identified. What process is the most
likely option to allow the city to take possession of the properties? - Answers Escheat
Is the potential for encroachments on neighbor properties usually included in appraisal reports?
- Answers No
Can text messages be seen to create a binding agreement? - Answers Yes
Conor listed a house for a seller who decided to pull home from the market after an offer was
accepted and ten days before closing. What recourse does Conor have to receive his comission?
- Answers Caroline, his Principal Broker, must sue the Seller
A lease of vacant land where the tenant can build but will be responsible for all further costs is
called what? - Answers Ground Lease
Can the owner of a building refuse to install a handicapped wheelchair ramp? - Answers No,
unless the cost is prohibitively expensive
Special Warranty Deed - Answers Only allows Buyer to hold Seller liable for losses from clouds
that were created or imposed on the property when she owned it.
Exclusive Agency Listing - Answers Means you give one agent the right to market your home but
you can still sell without paying them commisssion.
Exclusive Right-To-Sell Listing - Answers The agent is the only agent you've hired and the agent
is guaranteed to receive commissions when you sell your house.
A group of Brokers banded together and agreed not to use a certain inspector that had raise
their prices. This is a form of what? - Answers Group Boycotting which is anti-competitive and
an antitrust violation.
What is the maximum penalty for a real estate broker who lets their license lapse and continues
to practice real estate for two months? - Answers $1,500
What is the first step when dealing with a potential real estate violation? - Answers Investigation
How much continuing education is necessary to renew an inactive license while keeping the
license in an inactive state? - Answers None
