100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Updated: Barney Fletcher Cram Final Exam NEWEST 2025/2026 ACTUAL EXAM COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND NEW!! $12.99
Add to cart
Quickly navigate to
Preview
  2.  
  3. BARNEY FLETCHER
  4.  
  5. BARNEY FLETCHER

Exam (elaborations)

Updated: Barney Fletcher Cram Final Exam NEWEST 2025/2026 ACTUAL EXAM COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND NEW!!
 0 purchase
  • Course
  • BARNEY FLETCHER
  • Institution
  • BARNEY FLETCHER

Updated: Barney Fletcher Cram Final Exam NEWEST 2025/2026 ACTUAL EXAM COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND NEW!!

Preview 3 out of 18  pages

Document information

  • February 4, 2025
  • 18
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • barney fletcher
  • a broker advertises that if you will list with him
  • a prove he was the procuring agent b prove he wa

Written for

  • BARNEY FLETCHER
  • BARNEY FLETCHER

Seller

avatar-seller
AllLegitExams

Reviews received

Content preview

Updated: Barney Fletcher Cram Final
Exam

A broker advertises that if you will list with him and he cannot sell the property, he will buy it from
you. Is this legal?

A. never, this is an inducement and is illegal
B. never, this is an unfair practice and a misdemeanor
C. ok, if the two parties agree to a sales price and terms when the property sells
D. ok, if the two parties agree to a sales price and terms prior to the listing being signed -
ANS-D. ok, if the two parties agree to a sales price and terms prior to the listing being signed
A broker estimated the property lines by stating it ran between two trees in the back yard. After
closing, the buyer found it was over six feet off. Is the broker liable?

A. no, he gave an estimate
B. no, the buyer should have gotten a survey
C. yes, he made a statement which he realized could be false
D. yes, the broker should have surveyed the property himself - ANS-C. yes, he made a
statement which he realized could be false
A broker had an exclusive right to sell agency listing. In order to collect the commission, he
must:

A. prove he was the procuring agent
B. prove he was licensed at the time of the sale
C. prove he had a ready, willing, and able buyer that met the seller's terms
D. all of the above - ANS-B. prove he was licensed at the time of the sale
A buyer and seller sign an agreement to change the contract to close on May 1 instead of May
2. This is a(n):

A. addendum
B. special stipulation
C. amendment
D. clause - ANS-C. amendment
A contractor had a lien on a property for the non payment of services that he provided to build a
deck. He started the job on December 15th, 2001, recorded the lien on January 1st of the next
year and sued the owner on February 2nd, 2003. What best describes the situation?

A. as long as he recorded the lien within 90 days of the completion of the job, he should prevail
in the law suit

,B. he loses due to law of laches
C. he loses because he did not bring the suit before December 15th of 2002
D. if foreclosure takes place, the lien is prioritized on January 1st, 2003 - ANS-B. he loses due
to law of laches
A home is listed at an inflated price and requires all minority prospects to pay that price.
However, if a lower price is accepted from a non minority prospect, this practice:

A. does not violate Fair Housing Laws because the home is still being made available to
minority prospects
B. subjects the seller and the seller's agent to liability for money damages under a Fair Housing
suit
C. is a violation by the seller only
D. is illegal only if the purchase of the house is being financed through FHA or VA - ANS-B.
subjects the seller and the seller's agent to liability for money damages under a Fair Housing
suit
A homeowner with a mortgage replaced it with a new mortgage 3% lower in interest and
obtained extra funds to make investments. This is called:

A. subordination
B. refinancing
C. subrogation
D. wraparound - ANS-B. refinancing
A lender would require a blanket mortgage in which of the following circumstances?

A. if the borrower was going to use several unencumbered properties as security
B. if there was a mortgage clause stating that upon default, it would become a general lien
C. if the lender made the loan to encompass all of the borrower's debts
D. none of the above - ANS-A. if the borrower was going to use several unencumbered
properties as security
A lien was placed on a property for electrical equipment for $4,500. There already existed a
special assessment lien for $1,000, a mortgage lien for $40,000, and an IRS lien for $20,000.
The home was foreclosed on and sold. Which lien would take priority?

A. the IRS lien. The government always comes first
B. the mortgage lien. It is for the most amount of money
C. the special assessment lien. The government always comes first
D. the mechanic's lien. It must be paid before the home can be sold - ANS-C. the special
assessment lien. The government always comes first
A loan in which the buyer pays off the total principal at the end of the loan is a:

A. partially amortized
B. straight term
C. principal + interest
D. amortized loan - ANS-B. straight term

, A man had rented a place to live but had stayed beyond his lease without the owner's consent.
This would be:

A. an estate at sufferance
B. an estate at will
C. a periodic tenancy
D. a tenancy for years - ANS-A. an estate at sufferance
A market where there is an excess of supply over demand is known as a:

A. buyer's market
B. broad market
C. seller's market
D. thin market - ANS-A. buyer's market
A method of describing land using points, angles, and distances is which of the following?

A. rectangular survey
B. measurement by leaps and bounds
C. plat of survey or lot and block survey
D. measurement by metes and bounds - ANS-D. measurement by metes and bounds
A property listed with one broker was bought by a buyer who worked with another broker. The
two brokers decided to split the commission. If the federal authorities found out about this they
could:

A. revoke the broker's licenses
B. suspend the broker's licenses
C. fine the brokers $1,500
D. do nothing - ANS-D. do nothing
A real estate salesperson intends to offer for sale a tract of land he inherited without listing it
with a real estate brokerage company. Which of the following is NOT true concerning the
marketing of this property?

A. the salesperson must notify the broker in writing of his intention to sell the property
B. in order to advertise the property, the salesperson must have his broker's written consent to
do so
C. in advertising the property, the advertisement must state, "owner is a licensed real estate
agent acting as a principal
D. the salesperson must offer the property through his broker's company. He may not advertise
the property except as a listing of his company - ANS-D. the salesperson must offer the property
through his broker's company. He may not advertise the property except as a listing of his
company
A salesperson listed a property for $68,000. Soon thereafter, another property that had also
listed for $68,000 sold for $75,000. The salesperson should:

A. tell the owner, as he had obviously made a mistake in the estimate of market price

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller AllLegitExams. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $12.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

65352 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling
$12.99
  • (0)
Add to cart
Added