Law of Contracts Exam Prep 2024 Questions with 100% Correct Answers | Verified | Latest Update

1. All of the following acts on the part of a real estate broker would constitute steering and thus be prohibited under the Fair Housing Act EXCEPT: A) directing a prospective buyer of one minority group to work only with a salesperson of the same minority group and to look at areas dominated by that minority group B) directing a member of one minority group away from properties located in areas dominated by other races C) referring a member of one minority group to properties located only in areas dominated by members of the same group D) directing a minority buyer to an expensive subdivision ANS : D) directing a minor- ity buyer to an expensive subdivision 2. The One-to-Four Family Residential Contracts states: A) only the buyer needs to sign the contract B) licensees cannot give legal advice C) no more than four people may live on the property D) it may be used for condominiums ANS : B) licensees cannot give legal advice 3. Which listing is a non-exclusive agreement that lets the owner sell the property by themselves? A) Open listing B) Net listing C) Exclusive Agency listing D) Exclusive Right To Sell listing ANS : A) Open listing