Alabama Real Estate Salesperson Exam Prep Questions and Answers

A salesperson discovers an error on the closing statement. Who is responsible for ensuring the accuracy of closing statements? A) The salesperson is responsible B) The salesperson's broker is responsible C) The title company is responsible D) The attorney is responsibleB) The salesperson's broker is responsible Although a salesperson should double-check all documents for accuracy, it is the broker who is responsible for the accuracy of agreements, offers, contacts, closing statements and other documents. A buyer's agent receives a written offer on a single family residence that her buyers wish to submit. What must the agent provide to her buyer at the time the buyer signs the written offer? A) An explanation of limited dual consensual agency. B) A copy of the Alabama Consumer Information booklet. C) A copy of the written offer for the buyer's records. D) A complete estimated closing statement.D) A complete estimated closing statement. At the time the buyer signs the written offer, the licensee must present an estimated closing statement that contains the licensee's best estimates of all costs the buyer is expected to have at closing and the approximate amounts of those costs. Appointees to the Alabama Real Estate Commission must be considered residents and citizens of the state for a minimum of how many years prior to their appointment? A) 1 year B) 3 years C) 10 years D) 12 yearsC) 10 years Commission appointees must be citizens and residents of Alabama for at least 10 years prior to their appointment. The minimum required term of each Alabama Real Estate Commissioner is at least A) 1 year. B) 3 years. C) 5 years. D) 10 years.C) 5 years.