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NSAR EXAM 2025 UPDATED ACTUAL
EXAM WITH CORRECT SOLUTIONS.
Legal Mortgage - correct answer- First Mortgage
What is a mortgage? - correct answer- A conveyance or
transfer of property to the mortagee (lender) as security,
redeemable to mortgagee (borrower) upon payment in full
4 D's of agency discloser - correct answer- Decide, Disclose,
Document, Do
6 primary fiduciary duties - correct answer- Disclose,
Competency, Accountability, Loyalty, Confidentiality, Obedience
Disclose - correct answer- All pertinent and material facts to
client when providing services
Compentency - correct answer- Excessive reasonable care and
skill in carrying out duties on behalf of client
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Obediance - correct answer- Obey lawful instructions of the
client
Accountability - correct answer- Account for all monies and
property entrusted with the brokerage by that client
Confidentiality - correct answer- Not disclose information about
the client that would adversely impact that client, unless legally
obligated to do so
Loyalty - correct answer- Remain loyal to that client and protect
& promote his/her interesting
NSREC bylaw sets out ______ requirements in Artice 3 of
Standards of Business Practice. ______ MUST be in writing &
attempt to obtain acknowledgement from client/party - correct
answer- Disclosure
Comparative Market Analysis (CMA) - correct answer- Not
designed to estimate market value, but to establish realistic
listing price
NSAR EXAM 2025 UPDATED ACTUAL
EXAM WITH CORRECT SOLUTIONS.
Legal Mortgage - correct answer- First Mortgage
What is a mortgage? - correct answer- A conveyance or
transfer of property to the mortagee (lender) as security,
redeemable to mortgagee (borrower) upon payment in full
4 D's of agency discloser - correct answer- Decide, Disclose,
Document, Do
6 primary fiduciary duties - correct answer- Disclose,
Competency, Accountability, Loyalty, Confidentiality, Obedience
Disclose - correct answer- All pertinent and material facts to
client when providing services
Compentency - correct answer- Excessive reasonable care and
skill in carrying out duties on behalf of client
, 2 | Page
Obediance - correct answer- Obey lawful instructions of the
client
Accountability - correct answer- Account for all monies and
property entrusted with the brokerage by that client
Confidentiality - correct answer- Not disclose information about
the client that would adversely impact that client, unless legally
obligated to do so
Loyalty - correct answer- Remain loyal to that client and protect
& promote his/her interesting
NSREC bylaw sets out ______ requirements in Artice 3 of
Standards of Business Practice. ______ MUST be in writing &
attempt to obtain acknowledgement from client/party - correct
answer- Disclosure
Comparative Market Analysis (CMA) - correct answer- Not
designed to estimate market value, but to establish realistic
listing price
