Pearson VUE Sales Agent License Exam Latest Updated Graded A+

In order for a tenant to claim relief for constructive eviction... - ANSWER-The landlord must have intentionally withheld required repairs or maintenance A buyer purchases a furnished condominium apartment as an investment. The document that evidences the buyer's ownership of the furniture is a... - ANSWER-Bill of Sale A broker who enters into a property management contract is considered a... - ANSWER-Fiduciary A buyer's interest in real property, acquired at the moment the seller and the buyer enter into a sales contract, is known as... - ANSWER-Equitable Interest The appropriate time for a selling broker to explain the agency relationship to a prospective buyer is... - ANSWER-At their initial meeting A broker is asked to lease 1,200 square feet of warehouse space at $6 per square foot per year. If the broker's commission will be 8 percent of the first year's rental income, the MAXIMUM amount payable is... - ANSWER-$576 A geographic region in which similar properties compete with the subject property for potential buyers is called a... - ANSWER-Market Area In the absence of a formal appraisal report, which of the following choices is the MOST appropriate for setting a listing price in a new, rapidly selling neighborhood? - ANSWER-The price that willing buyers have recently paid for similar structures Which of the following factors would be included in the description of replacement cost? - ANSWER-Similar utility and current material Under an exclusive right-to-sell listing, a broker has the authority to take which of the following actions on behalf of a seller? - ANSWER-Advertise the property for sale Under a lease for a commercial property, a tenant agrees to pay $4,000 per month plus 3% of the gross monthly sales. This type of lease is called a... - ANSWER-Percentage