METRO BROKERS FINAL PAPER UPDATED QUESTIONS AND
ANSWERS GRADED A+
✔✔Which of the following are NOT necessarily appurtenances that pass with the
transfer of real property?
A. Easements in gross
B. Fixtures
C. Property improvements
D. Water rights - ✔✔A. Easements in gross
✔✔A seller accepts an offer from a buyer on a listed parcel of residential property.
Before the closing, the property is rezoned commercial and due to the increase in value
the seller refuses to sell. The buyers best course of action would be to: - ✔✔Enter a suit
for specific performance against the seller
✔✔With which of the following our rental payments guaranteed to increase during the
term of the lease? - ✔✔Step-Up Lease
✔✔A broker and seller signed a standard listing agreement. Which of the following
would not be among the acts that the broker was appointed to perform under the terms
of this listing?
A. attempt to find a ready, willing and able buyer for the real property
B. Sell, trade, or convey title to the real property
C. Place a "for sale" sign on the property and market the property
D. Prepare a data sheet with information about the property to give to prospective
purchasers - ✔✔B. Sell, trade, or convey title to the real property
✔✔Which of the following statements would best describe a fixture?
A. An article that was once personal property
B. An article that is personal property
C. An article that can be removed upon the sale of the land
D. An article that is no longer considered real property - ✔✔A. An article that was once
personal property
✔✔In law a fiduciary role is one that: - ✔✔D. Implies a position of trust and confidence
✔✔A buyer made an offer to purchase the seller's property for $296,000 providing the
seller would sign a general warranty deed at closing. The seller agreed to the $296,000
purchase price but agreed to sign a special warranty deed. Has a contractual obligation
been created between the buyer and seller? - ✔✔No, the buyer's offer was rejected,
and seller made a counteroffer
✔✔Which of the following practices would not be considered a violation of antitrust laws
, A. A broker who agrees to cooperate with competitors in establishing a standard rate of
commission
B. Two brokers who agree not to do business with another brokerage company because
they consider that company's business practices to be unethical
C. A salesperson who indicates to a potential seller client that he should not consider
listing his property for less than the going rate of commission because no one will show
his home
D. A broker who requires that the independent contractors within his company follow a
set rate of commission without deviation - ✔✔D. A broker who requires that the
independent contractors within his company follow a set rate of commission without
deviation
✔✔A map of a subdivision indicating the location and boundaries of individual
properties is called a: - ✔✔Plat map
✔✔The seller has a contract to sell the property for $380,000. Another buyer wants to
make an offer for $385,000. You should: - ✔✔Make sure the new offer is contingent on
the first offer not closing and then present it to the seller
✔✔Which of the following properties would MOST LIKELY involve riparian rights?
A. An apartment complex in the central city
B. A desert home
C. A cabin next to a river
D. An ocean front property - ✔✔C. A cabin next to a river
✔✔A tenant who has a one-year lease on an apartment, commencing on January 1st
must: - ✔✔Vacate the premises by December 31st
✔✔Which of the following would not be considered an agent?
A. An employee of a MLS
B. A property manager of a property owned by a client
C. A real estate salesperson licensed under a broker
D. A lawyer who holds power of attorney for a client - ✔✔A. An employee of a MLS
✔✔A buyer and seller are negotiating the sale of a house through the mail. A written
offer mailed to the offeree is accepted. If the offer did not specify a method to
communicate the acceptance, a contract is created when: - ✔✔The offeree places the
acceptance in the mail
✔✔A buyer purchased a house for the listed price of $180,000. After closing the buyer
discovered the seller had taken the remote garage door opener and house keys. The
buyer would have a valid claim to these items because they would most likely be
considered? - ✔✔Fixtures
ANSWERS GRADED A+
✔✔Which of the following are NOT necessarily appurtenances that pass with the
transfer of real property?
A. Easements in gross
B. Fixtures
C. Property improvements
D. Water rights - ✔✔A. Easements in gross
✔✔A seller accepts an offer from a buyer on a listed parcel of residential property.
Before the closing, the property is rezoned commercial and due to the increase in value
the seller refuses to sell. The buyers best course of action would be to: - ✔✔Enter a suit
for specific performance against the seller
✔✔With which of the following our rental payments guaranteed to increase during the
term of the lease? - ✔✔Step-Up Lease
✔✔A broker and seller signed a standard listing agreement. Which of the following
would not be among the acts that the broker was appointed to perform under the terms
of this listing?
A. attempt to find a ready, willing and able buyer for the real property
B. Sell, trade, or convey title to the real property
C. Place a "for sale" sign on the property and market the property
D. Prepare a data sheet with information about the property to give to prospective
purchasers - ✔✔B. Sell, trade, or convey title to the real property
✔✔Which of the following statements would best describe a fixture?
A. An article that was once personal property
B. An article that is personal property
C. An article that can be removed upon the sale of the land
D. An article that is no longer considered real property - ✔✔A. An article that was once
personal property
✔✔In law a fiduciary role is one that: - ✔✔D. Implies a position of trust and confidence
✔✔A buyer made an offer to purchase the seller's property for $296,000 providing the
seller would sign a general warranty deed at closing. The seller agreed to the $296,000
purchase price but agreed to sign a special warranty deed. Has a contractual obligation
been created between the buyer and seller? - ✔✔No, the buyer's offer was rejected,
and seller made a counteroffer
✔✔Which of the following practices would not be considered a violation of antitrust laws
, A. A broker who agrees to cooperate with competitors in establishing a standard rate of
commission
B. Two brokers who agree not to do business with another brokerage company because
they consider that company's business practices to be unethical
C. A salesperson who indicates to a potential seller client that he should not consider
listing his property for less than the going rate of commission because no one will show
his home
D. A broker who requires that the independent contractors within his company follow a
set rate of commission without deviation - ✔✔D. A broker who requires that the
independent contractors within his company follow a set rate of commission without
deviation
✔✔A map of a subdivision indicating the location and boundaries of individual
properties is called a: - ✔✔Plat map
✔✔The seller has a contract to sell the property for $380,000. Another buyer wants to
make an offer for $385,000. You should: - ✔✔Make sure the new offer is contingent on
the first offer not closing and then present it to the seller
✔✔Which of the following properties would MOST LIKELY involve riparian rights?
A. An apartment complex in the central city
B. A desert home
C. A cabin next to a river
D. An ocean front property - ✔✔C. A cabin next to a river
✔✔A tenant who has a one-year lease on an apartment, commencing on January 1st
must: - ✔✔Vacate the premises by December 31st
✔✔Which of the following would not be considered an agent?
A. An employee of a MLS
B. A property manager of a property owned by a client
C. A real estate salesperson licensed under a broker
D. A lawyer who holds power of attorney for a client - ✔✔A. An employee of a MLS
✔✔A buyer and seller are negotiating the sale of a house through the mail. A written
offer mailed to the offeree is accepted. If the offer did not specify a method to
communicate the acceptance, a contract is created when: - ✔✔The offeree places the
acceptance in the mail
✔✔A buyer purchased a house for the listed price of $180,000. After closing the buyer
discovered the seller had taken the remote garage door opener and house keys. The
buyer would have a valid claim to these items because they would most likely be
considered? - ✔✔Fixtures
