Abe signs a contract to buy Penelope's home. The deal eventually closes, but
Penelope fails to hand over the home's keys to Abe. A week passes, and Abe files a
lawsuit in an attempt to force Penelope to give him the keys. Of what is this an
example?
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Suing for specific performance
Which document is provided to borrowers no fewer than three days prior to closing
and provides details about the costs of the transaction?
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Closing Disclosure
,A DC licensee whose license has been inactive may reinstate the license if certain
conditions have been met. Reinstatement must be requested within five years, must
be accompanied by a fee, and the licensee must provide ________.
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Proof that continuing education requirements have been met
Gerard found his DC license summarily suspended after a complaint from a buyer
about some problematic advice he gave about home inspections. Gerard can request
a hearing so that he can present his evidence. Within what time frame must that
hearing take place?
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72 hours
The Consumer Financial Protection Bureau ______.
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Supervises financial institutions and enforces consumer financial laws
A vacant parcel of land is six square miles. How many acres is this?
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, 3,840 acres
What is a property condition disclosure statement?
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A statement the seller provides to the buyer that outlines all known
property defects
What does it mean for the broker when a lawsuit is brought against the broker's
affiliated licensee due to misconduct?
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The broker may be held liable for not supervising the licensee.
Buyer Penelope adores the house at 212 Maple Street, but two weeks after making her
offer, she's discovered it's got some issues that weren't identified on the state-required
seller disclosure form. She still wants to buy the house. Since the seller appears to
have lied on the disclosure form, what can Penelope do?
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Ask the seller to make the repairs needed, or ask for a credit to cover the
cost of those repairs.
, When assigning a contract, what should the assignor ensure is permitted in the
purchase contract?
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Assignability
What's the acronym for the legislation that eliminates illegal referral fees among
settlement service providers?
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RESPA
When does express agency exist?
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When a written or oral agreement is in place
What is a survey?
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Penelope fails to hand over the home's keys to Abe. A week passes, and Abe files a
lawsuit in an attempt to force Penelope to give him the keys. Of what is this an
example?
Give this one a try later!
Suing for specific performance
Which document is provided to borrowers no fewer than three days prior to closing
and provides details about the costs of the transaction?
Give this one a try later!
Closing Disclosure
,A DC licensee whose license has been inactive may reinstate the license if certain
conditions have been met. Reinstatement must be requested within five years, must
be accompanied by a fee, and the licensee must provide ________.
Give this one a try later!
Proof that continuing education requirements have been met
Gerard found his DC license summarily suspended after a complaint from a buyer
about some problematic advice he gave about home inspections. Gerard can request
a hearing so that he can present his evidence. Within what time frame must that
hearing take place?
Give this one a try later!
72 hours
The Consumer Financial Protection Bureau ______.
Give this one a try later!
Supervises financial institutions and enforces consumer financial laws
A vacant parcel of land is six square miles. How many acres is this?
Give this one a try later!
, 3,840 acres
What is a property condition disclosure statement?
Give this one a try later!
A statement the seller provides to the buyer that outlines all known
property defects
What does it mean for the broker when a lawsuit is brought against the broker's
affiliated licensee due to misconduct?
Give this one a try later!
The broker may be held liable for not supervising the licensee.
Buyer Penelope adores the house at 212 Maple Street, but two weeks after making her
offer, she's discovered it's got some issues that weren't identified on the state-required
seller disclosure form. She still wants to buy the house. Since the seller appears to
have lied on the disclosure form, what can Penelope do?
Give this one a try later!
Ask the seller to make the repairs needed, or ask for a credit to cover the
cost of those repairs.
, When assigning a contract, what should the assignor ensure is permitted in the
purchase contract?
Give this one a try later!
Assignability
What's the acronym for the legislation that eliminates illegal referral fees among
settlement service providers?
Give this one a try later!
RESPA
When does express agency exist?
Give this one a try later!
When a written or oral agreement is in place
What is a survey?
Give this one a try later!
