TCFP FF2 PRACTICE EXAM REAL EXAM QUESTIONS AND CORRECT DETAILED ANSWERS
WITH RATIONALES (VERIFIED ANSWERS) |ALREADY GRADED A
Broker Bob is discussing a potential listing with Seller Sam, who says he will not entertain any offers
from Orientals. What should Bob do? -(ANSWER)Refuse the listing.
What is another name for a condition of sale? -(ANSWER)Contingency
Under what circumstances can a listing broker refuse to show a property? -(ANSWER)Only if the seller
has given written instructions not to show it
Which of the following should a property manager carefully explain to tenants? -(ANSWER)When and
where the rent must be paid
What is the key to building a real estate business? -(ANSWER)Prospecting
If a seller wants to keep the drapes in the living room, how should it be reflected in the Contract? -
(ANSWER)It should be listed as an "exclusion."
What happens if the broker fails to obtain the beneficiary's consent to put escrow funds into an interest-
bearing account? -(ANSWER)Any loss or penalty on the account will be borne by the broker.
In the real estate market, what is it called when the economy expands due to low interest rates and
available capital and results in a greater demand for housing? -(ANSWER)Upturn
What is the penalty for violating the FTC Do-Not-Call Rules? -(ANSWER)$11,000 per infraction
The highest price a buyer is willing to pay and a seller is willing to sell is called what? -(ANSWER)The
market value
WITH RATIONALES (VERIFIED ANSWERS) |ALREADY GRADED A
Broker Bob is discussing a potential listing with Seller Sam, who says he will not entertain any offers
from Orientals. What should Bob do? -(ANSWER)Refuse the listing.
What is another name for a condition of sale? -(ANSWER)Contingency
Under what circumstances can a listing broker refuse to show a property? -(ANSWER)Only if the seller
has given written instructions not to show it
Which of the following should a property manager carefully explain to tenants? -(ANSWER)When and
where the rent must be paid
What is the key to building a real estate business? -(ANSWER)Prospecting
If a seller wants to keep the drapes in the living room, how should it be reflected in the Contract? -
(ANSWER)It should be listed as an "exclusion."
What happens if the broker fails to obtain the beneficiary's consent to put escrow funds into an interest-
bearing account? -(ANSWER)Any loss or penalty on the account will be borne by the broker.
In the real estate market, what is it called when the economy expands due to low interest rates and
available capital and results in a greater demand for housing? -(ANSWER)Upturn
What is the penalty for violating the FTC Do-Not-Call Rules? -(ANSWER)$11,000 per infraction
The highest price a buyer is willing to pay and a seller is willing to sell is called what? -(ANSWER)The
market value
