The CE Shop Test Exam Questions and
Answers 100% Solved | Graded A+
Compared to working without a buyer agency agreement, a buyer who
works under a buyer agency - ✔✔Receives a higher level of service
Switches that are warm to the touch, damaged panels, and lights that dim
or flicker when other appliances are in use can be signs of a(n) ______
problem. - ✔✔Electrical
In which of the following situations would an agent be representing a
customer in a real estate purchase? - ✔✔Never (A real estate agent may
only represent a client, not a customer. Agency involves an agency
agreement. Customers are owed certain duties, but agency is not one of
them.)
Given all of the laws prohibiting discrimination in housing, why does it still
occur? - ✔✔It often happens outside of the public eye.
Jerome, a real estate licensee, works independently instead of under a
sponsoring broker. This means that he is licensed as ________. - ✔✔A
broker
1
©NINJANERD 2024/2025. YEAR PUBLISHED 2024.
,What is the purpose of the Consent for Dual Agency form? - ✔✔To obtain
the clients' consent or not for a broker/licensee to represent them as a dual
agent/intra-company agent should a dual agency situation arise
What's the definition of a land contract? - ✔✔Sellers provide funds or credit
to buyers in order to close the transaction.
What's a subordination agreement? - ✔✔It's an agreement that a previous
lender signed allowing a later lender to take over the primary, or first, loan
position.
In real estate contracts, which are required: legal descriptions or street
addresses? - ✔✔Legal descriptions are required, because they provide
less ambiguous and more complete descriptions of properties than street
addresses provide.
Kris made an offer on Lincoln's townhouse. However, Kris offered no
earnest money. If Lincoln accepted her offer, would it be binding? - ✔✔Yes,
because the offer to buy is the consideration.
What types of leases must be recorded? - ✔✔Leases that are longer than
seven years
Which of these is an example of a rectangular survey system description? -
✔✔S ½ SE ¼ NW ¼ Section 2, Township Clarkson
2
©NINJANERD 2024/2025. YEAR PUBLISHED 2024.
, Jorge is a dual agent in a single-license dual agency situation. He owes his
clients all of the following fiduciary duties EXCEPT ___________. -
✔✔undivided loyalty
Shelly buys Mark's house, which is still in an option period with Monique.
Monique decides to exercise her option after Shelly moves in. What will
happen? - ✔✔Shelly will have to sell the house to Monique. (If the
optionor/seller sells land that's under an option contract within the option
period, the new owner is bound by that contract, and the optionee may
enforce the option against the new property owner.)
Your client exchanged one property for a similar property and did not have
to pay capital gains taxes that year. How did he do this? - ✔✔He did a tax-
deferred exchange.
Soundproofing and decorative material, shingles, and siding may contain
what hazardous material? - ✔✔Asbestos
Wayne conveys a property to Robbie until Robbie's death, when the
property is conveyed to Tiffany. What is this scenario an example of? -
✔✔Life estate
Life Estate - ✔✔A freehold estate granted for someone's lifetime
3
©NINJANERD 2024/2025. YEAR PUBLISHED 2024.
Answers 100% Solved | Graded A+
Compared to working without a buyer agency agreement, a buyer who
works under a buyer agency - ✔✔Receives a higher level of service
Switches that are warm to the touch, damaged panels, and lights that dim
or flicker when other appliances are in use can be signs of a(n) ______
problem. - ✔✔Electrical
In which of the following situations would an agent be representing a
customer in a real estate purchase? - ✔✔Never (A real estate agent may
only represent a client, not a customer. Agency involves an agency
agreement. Customers are owed certain duties, but agency is not one of
them.)
Given all of the laws prohibiting discrimination in housing, why does it still
occur? - ✔✔It often happens outside of the public eye.
Jerome, a real estate licensee, works independently instead of under a
sponsoring broker. This means that he is licensed as ________. - ✔✔A
broker
1
©NINJANERD 2024/2025. YEAR PUBLISHED 2024.
,What is the purpose of the Consent for Dual Agency form? - ✔✔To obtain
the clients' consent or not for a broker/licensee to represent them as a dual
agent/intra-company agent should a dual agency situation arise
What's the definition of a land contract? - ✔✔Sellers provide funds or credit
to buyers in order to close the transaction.
What's a subordination agreement? - ✔✔It's an agreement that a previous
lender signed allowing a later lender to take over the primary, or first, loan
position.
In real estate contracts, which are required: legal descriptions or street
addresses? - ✔✔Legal descriptions are required, because they provide
less ambiguous and more complete descriptions of properties than street
addresses provide.
Kris made an offer on Lincoln's townhouse. However, Kris offered no
earnest money. If Lincoln accepted her offer, would it be binding? - ✔✔Yes,
because the offer to buy is the consideration.
What types of leases must be recorded? - ✔✔Leases that are longer than
seven years
Which of these is an example of a rectangular survey system description? -
✔✔S ½ SE ¼ NW ¼ Section 2, Township Clarkson
2
©NINJANERD 2024/2025. YEAR PUBLISHED 2024.
, Jorge is a dual agent in a single-license dual agency situation. He owes his
clients all of the following fiduciary duties EXCEPT ___________. -
✔✔undivided loyalty
Shelly buys Mark's house, which is still in an option period with Monique.
Monique decides to exercise her option after Shelly moves in. What will
happen? - ✔✔Shelly will have to sell the house to Monique. (If the
optionor/seller sells land that's under an option contract within the option
period, the new owner is bound by that contract, and the optionee may
enforce the option against the new property owner.)
Your client exchanged one property for a similar property and did not have
to pay capital gains taxes that year. How did he do this? - ✔✔He did a tax-
deferred exchange.
Soundproofing and decorative material, shingles, and siding may contain
what hazardous material? - ✔✔Asbestos
Wayne conveys a property to Robbie until Robbie's death, when the
property is conveyed to Tiffany. What is this scenario an example of? -
✔✔Life estate
Life Estate - ✔✔A freehold estate granted for someone's lifetime
3
©NINJANERD 2024/2025. YEAR PUBLISHED 2024.
