2026 -2027 NEWEST VERSION WITH COMPLETE QUESTIONS
AND CORRECT DETAILED ANSWERS\VERIFIED 100%
GRADED A+
A real estate agent working with a young couple has helped the couple locate a
very nice home. The young couple ask the agent's advice regarding the couple's
plan to borrow against their personal property including their car, to obtain part
of the down payment. The agent should
tell them that the decision is up to them and point out any possible advantages
and disadvantages of borrowing against their personal property.
A reference to topography notated on a subdivision map refers to
the contour or nature of the surface of the land.
,A seller signed a 90-day exclusive authorization and right to sell listing
agreement with Broker Bill. Three weeks later the seller canceled the listing.
Under these circumstances the
owner can cancel the listing but may be liable for damages, including the
commission to Broker Bill.
A Shared Appreciation Mortgage (SAM) would generally be most desirable
when home values are steadily increasing.
The term "seasoned note" is
longer than 36 months.
A student who rents a beach bungalow for 2 weeks during each summer vacation
would hold an estate
for years.
A tenant pays $1,250 per month to rent an apartment on a periodic tenancy.
When the water heater breaks the landlord fails to have it repaired. The tenant
may deduct how much from the rent to pay for the repair?
$1,250
A "bench mark" would most likely be used by a
surveyor.
, A "safety clause" (protection period clause) found in an exclusive listing
agreement requires the agent to
provide the principal with a written list including the names of clients covered
prior to the termination of the listing.
According to the lead based paint disclosure law, a "target house" would likely
be a
single family dwelling built in 1975.
According to the standard real estate purchase agreement, how long does a
buyer have after receiving the TDS to rescind?
3 calendar days.
Advance fee contracts must be submitted to the DRE for approval
at least ten calendar days before they are used.
Agent Donna advertises that she will give a $1,000 credit to any seller who lists
with her and she will pay any buyer $2,000 when the buyer purchases using her
services. Donna's advertising would be considered
legal provided full disclosure is made to all interested parties.