REAL ESTATE EXAM ms ms
Exam Solution ms
Real Estate Principles Exam 3 2026 A+ GRADE ASSURE
ms ms ms ms ms ms ms ms
D COMPLETE SOLUTIONS AND VERIFIED ANSWERS (04
ms ms ms ms ms ms
40E)
QUESTION 1 ms
If a buyer defaults on a contract to purchase real property, which of the following is n
ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms
ot a remedy the seller can pursue?
ms ms ms ms ms ms
ANSWER
sue for assignment
ms ms
QUESTION 2 ms
When contracts for the sale of real property are placed with a disinterested third part
ms ms ms ms ms ms ms ms ms ms ms ms ms ms
y for executing and closing, they are said to be placed in:
ms ms ms ms ms ms ms ms ms ms ms
ANSWER
Escrow
QUESTION 3 ms
Which of the following conditions would be a defect to mutual assent in a contract for
ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms
the sale of real property?
ms ms ms ms ms
ANSWER
One party attempts to perpetrate fraud on the other
ms ms ms ms ms ms ms ms
QUESTION 4 ms
Oral evidence in contract disputes is prohibited by:
ms ms ms ms ms ms ms
ANSWER
The parol evidence rule
ms ms ms
, QUESTION 5 ms
Which of the following is one of the terms of a real estate contract?
ms ms ms ms ms ms ms ms ms ms ms ms ms
ANSWER
Price to be paidms ms ms
QUESTION 6 ms
Real estate transactions do not close at the same time the contract for sale is signed b
ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms
y both parties because:
ms ms ms
ANSWER
all (an inspection must be made, financing must be arranged, title must be checked, and documents
ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms
must be prepared)
ms ms
QUESTION 7 ms
An earnest money deposit is:
ms ms ms ms
ANSWER
A payment of money by a buyer to evidence good faith.
ms ms ms ms ms ms ms ms ms ms
QUESTION 8 ms
In most straight-
ms ms
forward transactions involving houses or other relatively small properties, the contrac
ms ms ms ms ms ms ms ms ms ms
t is
ms
ANSWER
A form, with blanks filled in by the broker
ms ms ms ms ms ms ms ms
QUESTION 9 ms
Equitable title to real estate is: ms ms ms ms ms
ANSWER
The right to obtain legal title conveyed by the contract for sale
ms ms ms ms ms ms ms ms ms ms ms
QUESTION 10 ms
The purpose of a closing statement is to:
ms ms ms ms ms ms ms
Exam Solution ms
Real Estate Principles Exam 3 2026 A+ GRADE ASSURE
ms ms ms ms ms ms ms ms
D COMPLETE SOLUTIONS AND VERIFIED ANSWERS (04
ms ms ms ms ms ms
40E)
QUESTION 1 ms
If a buyer defaults on a contract to purchase real property, which of the following is n
ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms
ot a remedy the seller can pursue?
ms ms ms ms ms ms
ANSWER
sue for assignment
ms ms
QUESTION 2 ms
When contracts for the sale of real property are placed with a disinterested third part
ms ms ms ms ms ms ms ms ms ms ms ms ms ms
y for executing and closing, they are said to be placed in:
ms ms ms ms ms ms ms ms ms ms ms
ANSWER
Escrow
QUESTION 3 ms
Which of the following conditions would be a defect to mutual assent in a contract for
ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms
the sale of real property?
ms ms ms ms ms
ANSWER
One party attempts to perpetrate fraud on the other
ms ms ms ms ms ms ms ms
QUESTION 4 ms
Oral evidence in contract disputes is prohibited by:
ms ms ms ms ms ms ms
ANSWER
The parol evidence rule
ms ms ms
, QUESTION 5 ms
Which of the following is one of the terms of a real estate contract?
ms ms ms ms ms ms ms ms ms ms ms ms ms
ANSWER
Price to be paidms ms ms
QUESTION 6 ms
Real estate transactions do not close at the same time the contract for sale is signed b
ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms
y both parties because:
ms ms ms
ANSWER
all (an inspection must be made, financing must be arranged, title must be checked, and documents
ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms
must be prepared)
ms ms
QUESTION 7 ms
An earnest money deposit is:
ms ms ms ms
ANSWER
A payment of money by a buyer to evidence good faith.
ms ms ms ms ms ms ms ms ms ms
QUESTION 8 ms
In most straight-
ms ms
forward transactions involving houses or other relatively small properties, the contrac
ms ms ms ms ms ms ms ms ms ms
t is
ms
ANSWER
A form, with blanks filled in by the broker
ms ms ms ms ms ms ms ms
QUESTION 9 ms
Equitable title to real estate is: ms ms ms ms ms
ANSWER
The right to obtain legal title conveyed by the contract for sale
ms ms ms ms ms ms ms ms ms ms ms
QUESTION 10 ms
The purpose of a closing statement is to:
ms ms ms ms ms ms ms
