Azure tide realty 45hr UPDATED ACTUAL
Exam Questions and CORRECT Answers
Which statement would you advise agent Jerome not use in his listing advertisement due to Fair
Housing Laws? - CORRECT ANSWER - Within walking distance of the Gulf of Mexico
Which of the following is correct about the inspection period? - CORRECT ANSWER -
The buyer may choose to walk away from the contract for any reason.
Someone could be heard crying for help from an apartment. Which statement is true? -
CORRECT ANSWER - Because it is an emergency, the owner may enter.
You have just concluded a buyer presentation with Taylor. She likes you and you helped her
sister buy a house 6 months ago. She is really excited about getting started. You put the buyer
broker agreement in front of her, but you notice she looks very worried and did not sign it right
away. You ask her if she has any questions. She immediately says, "Yes, I don't know how I am
going to pay you for helping me. A guy at work said he had to pay his real estate agent $10,000.
I only have money for the down payment because you helped me get the 1st time home buyer
program. I guess I will have to wait until I can save up some money. Which of the following
statements cover steps number 4 & 5 of objection handling? - CORRECT ANSWER -
"You don't have to worry about that because my commission is paid by the seller at closing.
Since you don't have to pay me yourself, wouldn't it make sense to work together?"
Steering is described as what? - CORRECT ANSWER - Using a protected class as a basis
to decide where to show someone property.
A loan officer has done a brief interview with a buyer without verifying documentation such as
income. What is this called? - CORRECT ANSWER - Preapproving the buyer.
Concept that 20% of pointed action produces 80% of results is called what? - CORRECT
ANSWER - Pareto's Principle
, Which of the following statements is true regarding license renewal? - CORRECT
ANSWER - If the licensee fails to renew the license by the first renewal term, the licensee
cannot recover it.
You have shown your buyer's what they say is their dream home. However, it needs some
repairs. The house is a foreclosure and has been vacant for almost a year. One bathroom is
missing the toilet, the roof has a leak, the kitchen counters are gone and a few other more minor
issues. The buyers will qualify for any loan and have more than enough to put down; whatever is
required. Which of the following is the best loan for them? - CORRECT ANSWER - 203K
Assistance with price, advertising, providing signage, inclusion in MLS, inclusion on websites,
holding open houses, showing of the property, use of a lockbox, presenting and managing offers,
contract negotiations, and transaction closing assistance - are all tasks that what? - CORRECT
ANSWER - Can be contracted individually on a Limited Brokerage Services Addendum.
Per the statute - when a condominium is sold, specific documents must be provided from the
seller to the buyer. The re-seller must provide the buyer with 7 different required documents.
(Not including new requirements for possible Milestone Inspection or Structural Integrity
Reserve Study documents.) Which of the following is not one of those 7 documents? -
CORRECT ANSWER - Board of Directors Contact Information
October was preparing an advertisement for her seller and included the phrase "2.9% interest
available." What else does she have to include in the advertisement? - CORRECT
ANSWER - The amount or percentage of the down payment, the terms of repayment, and
the annual percentage rate.
Buyer Betty was buying a home in a flood zone and was also securing a loan. Which is a true
statement? - CORRECT ANSWER - An elevation certificate will be required in order for
an insurance quote and binder to be provided.
During the inspection period, how can a buyer walk away from the deal? - CORRECT
ANSWER - without penalty for any reason
Exam Questions and CORRECT Answers
Which statement would you advise agent Jerome not use in his listing advertisement due to Fair
Housing Laws? - CORRECT ANSWER - Within walking distance of the Gulf of Mexico
Which of the following is correct about the inspection period? - CORRECT ANSWER -
The buyer may choose to walk away from the contract for any reason.
Someone could be heard crying for help from an apartment. Which statement is true? -
CORRECT ANSWER - Because it is an emergency, the owner may enter.
You have just concluded a buyer presentation with Taylor. She likes you and you helped her
sister buy a house 6 months ago. She is really excited about getting started. You put the buyer
broker agreement in front of her, but you notice she looks very worried and did not sign it right
away. You ask her if she has any questions. She immediately says, "Yes, I don't know how I am
going to pay you for helping me. A guy at work said he had to pay his real estate agent $10,000.
I only have money for the down payment because you helped me get the 1st time home buyer
program. I guess I will have to wait until I can save up some money. Which of the following
statements cover steps number 4 & 5 of objection handling? - CORRECT ANSWER -
"You don't have to worry about that because my commission is paid by the seller at closing.
Since you don't have to pay me yourself, wouldn't it make sense to work together?"
Steering is described as what? - CORRECT ANSWER - Using a protected class as a basis
to decide where to show someone property.
A loan officer has done a brief interview with a buyer without verifying documentation such as
income. What is this called? - CORRECT ANSWER - Preapproving the buyer.
Concept that 20% of pointed action produces 80% of results is called what? - CORRECT
ANSWER - Pareto's Principle
, Which of the following statements is true regarding license renewal? - CORRECT
ANSWER - If the licensee fails to renew the license by the first renewal term, the licensee
cannot recover it.
You have shown your buyer's what they say is their dream home. However, it needs some
repairs. The house is a foreclosure and has been vacant for almost a year. One bathroom is
missing the toilet, the roof has a leak, the kitchen counters are gone and a few other more minor
issues. The buyers will qualify for any loan and have more than enough to put down; whatever is
required. Which of the following is the best loan for them? - CORRECT ANSWER - 203K
Assistance with price, advertising, providing signage, inclusion in MLS, inclusion on websites,
holding open houses, showing of the property, use of a lockbox, presenting and managing offers,
contract negotiations, and transaction closing assistance - are all tasks that what? - CORRECT
ANSWER - Can be contracted individually on a Limited Brokerage Services Addendum.
Per the statute - when a condominium is sold, specific documents must be provided from the
seller to the buyer. The re-seller must provide the buyer with 7 different required documents.
(Not including new requirements for possible Milestone Inspection or Structural Integrity
Reserve Study documents.) Which of the following is not one of those 7 documents? -
CORRECT ANSWER - Board of Directors Contact Information
October was preparing an advertisement for her seller and included the phrase "2.9% interest
available." What else does she have to include in the advertisement? - CORRECT
ANSWER - The amount or percentage of the down payment, the terms of repayment, and
the annual percentage rate.
Buyer Betty was buying a home in a flood zone and was also securing a loan. Which is a true
statement? - CORRECT ANSWER - An elevation certificate will be required in order for
an insurance quote and binder to be provided.
During the inspection period, how can a buyer walk away from the deal? - CORRECT
ANSWER - without penalty for any reason
