Rockwell Exam 4 2025/2026 Exam
Questions with 100% Correct Answers |
Latest Update
Once a contract for deed is signed by the parties, the buyer immediately
receives:
A. a life estate
B. legal title
C. equitable title
D. the right to lease the property - 🧠 ANSWER ✔✔C. equitable title
A buyer receives equitable title to the property once the land contract has
been signed
,A real estate broker represents the seller in a transaction involving an
investment property. Several months later, the new owner asks the broker
if he would act as property manager for that property. The broker may take
this position:
A. only if his designated broker allows it
B. only if the broker and the buyer are not related
C. only if the broker does not work for compensation
D. only if the broker works for a third party rather than the buyer - 🧠
ANSWER ✔✔A. only if his designated broker allows it
Max would like to know if there's an encroachment on his boundary line. He
should:
A. examine the legal description
B. order an appraisal
C. order a survey
D. do a title search - 🧠 ANSWER ✔✔C. order a survey
,Two parties enter into an option agreement, scheduled to end in
December. However, in October the optionee decides he doesn't want to
buy the property. What should the parties do in order to terminate the
option?
A. Complete a formal statement of novation
B. Exercise the option's contingency clause
C. File an interpleader action so a court can void the contract
D. Nothing; the option will expire automatically - 🧠 ANSWER ✔✔D. Nothing;
the option will expire automatically
Prices in a local market are trending downward. A seller found that she had
to lower the price of her house by $25,000 over the course of six months
before she could find a buyer. Upset over selling at a loss, she informs her
listing agent that she is going to lower the commission rate that she pays.
Can she do this?
A. Yes, a loss by the seller must be shared by the listing agent
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
, B. Yes, since commission rates are negotiated and can be changed at any
time
C. No, commission rates are established by the local multiple listing service
and cannot be changed
D. No, the commission rate, once established in the listing agreement
contract, cannot be changed unless both parties agree - 🧠 ANSWER ✔✔D.
No, the commission rate, once established in the listing agreement
contract, cannot be changed unless both parties agree
Sally lists her property for sale with Broker Al. Al learns that the property is
about to be rezoned to a higher use. He tells Sally he would like to
purchase the property himself. She agrees, and the sale closes. Six
months later, Al resells the property for a significant profit. This is legal:
A. as long as before Sally agreed to the sale, Al informed her of the
upcoming zoning change and what it would mean for the property's value
B. as long as he disclosed to Sally the profit he made off the resale, after
his sale closed
C. only if Al shares his profits with Sally
Questions with 100% Correct Answers |
Latest Update
Once a contract for deed is signed by the parties, the buyer immediately
receives:
A. a life estate
B. legal title
C. equitable title
D. the right to lease the property - 🧠 ANSWER ✔✔C. equitable title
A buyer receives equitable title to the property once the land contract has
been signed
,A real estate broker represents the seller in a transaction involving an
investment property. Several months later, the new owner asks the broker
if he would act as property manager for that property. The broker may take
this position:
A. only if his designated broker allows it
B. only if the broker and the buyer are not related
C. only if the broker does not work for compensation
D. only if the broker works for a third party rather than the buyer - 🧠
ANSWER ✔✔A. only if his designated broker allows it
Max would like to know if there's an encroachment on his boundary line. He
should:
A. examine the legal description
B. order an appraisal
C. order a survey
D. do a title search - 🧠 ANSWER ✔✔C. order a survey
,Two parties enter into an option agreement, scheduled to end in
December. However, in October the optionee decides he doesn't want to
buy the property. What should the parties do in order to terminate the
option?
A. Complete a formal statement of novation
B. Exercise the option's contingency clause
C. File an interpleader action so a court can void the contract
D. Nothing; the option will expire automatically - 🧠 ANSWER ✔✔D. Nothing;
the option will expire automatically
Prices in a local market are trending downward. A seller found that she had
to lower the price of her house by $25,000 over the course of six months
before she could find a buyer. Upset over selling at a loss, she informs her
listing agent that she is going to lower the commission rate that she pays.
Can she do this?
A. Yes, a loss by the seller must be shared by the listing agent
COPYRIGHT©PROFFKERRYMARTIN 2025/2026. YEAR PUBLISHED 2025. COMPANY REGISTRATION NUMBER: 619652435. TERMS OF USE.
PRIVACY STATEMENT. ALL RIGHTS RESERVED
, B. Yes, since commission rates are negotiated and can be changed at any
time
C. No, commission rates are established by the local multiple listing service
and cannot be changed
D. No, the commission rate, once established in the listing agreement
contract, cannot be changed unless both parties agree - 🧠 ANSWER ✔✔D.
No, the commission rate, once established in the listing agreement
contract, cannot be changed unless both parties agree
Sally lists her property for sale with Broker Al. Al learns that the property is
about to be rezoned to a higher use. He tells Sally he would like to
purchase the property himself. She agrees, and the sale closes. Six
months later, Al resells the property for a significant profit. This is legal:
A. as long as before Sally agreed to the sale, Al informed her of the
upcoming zoning change and what it would mean for the property's value
B. as long as he disclosed to Sally the profit he made off the resale, after
his sale closed
C. only if Al shares his profits with Sally
