Superior School of Real Estate Final Exam Questions Superior School of Real Estate Final Exam Questions
and answers with 100% Complete solutions | verified and answers with 100% Complete solutions | verified
&updated 2026| Graded A+ &updated 2026| Graded A+
Which of the following is an example of personal property that could typically be removed by the seller
of a residential property? - correct answer -A tree house constructed in a tree on the property that can
be removed without damage to the tree.
Which of the following would create legally binding acceptance of a written offer? - correct answer -The
Which of the following properties would be the best comparable for an appraiser to use for an appraisal
seller's agent emails the buyer's agent that the seller signed the offer as written.
of a two-story subject property with 3 bedrooms and 2 baths in a subdivision near the downtown area
of a city? - correct answer -3 bedrooms, 2 baths two-story house in a nearby similar subdivision.
A broker is preparing a comparative market analysis (CMA) for a subject property with 3200 square feet.
A comparable property has 2750 square feet. The estimated value of 450 additional square feet is
Which of the following is a legal property management practice under the Federal Fair Housing Act as
$22,500. The broker should... - correct answer -Add $22,500 to the sales price of the comparable
amended in 1998? - correct answer -Requiring a credit report and a criminal background check for all
property.
applicants.
An option to purchase has been created for a one hundred acre parcel of farmland. During the one-year
How and when must a broker notify an unrepresented buyer that the broker represents the seller? -
option period, the option he has the right to... - correct answer -Execute the option to purchase on the
correct answer -In writing, before obtaining any personal information from the buyer.
terms in the option agreement.
Excise tax on real property in North Carolina is... - correct answer -$1per$500
A buyer is under contract to purchase a home for $370,000 and has qualified for an 80% loan-to-value
mortgage loan at an annual interest rate of 45%. How much will the buyer owe for the 1% loan
origination fee and 1 1/2 discount points associated with this loan package? - correct answer -$7,400
Which of the following scenarios best illustrates first substantial contact? - correct answer -Seller states
that she must relocate by the end of the year.
The buyer and the seller in a failed transaction cannot agree on how to disburse the earnest money
deposit being held in the listing firm's trust account. The listing firm must retain the records of this
Liens, restrictive covenants, easements, and encroachments are all examples of... - correct answer
transaction for 3 years after the... - correct answer -Date the earnest money is disbursed.
Encumbrances.
, Superior School of Real Estate Final Exam Questions Superior School of Real Estate Final Exam Questions
and answers with 100% Complete solutions | verified and answers with 100% Complete solutions | verified
&updated 2026| Graded A+ &updated 2026| Graded A+
The fiduciary duties of an exclusive buyer's agent include... - correct answer -Concealing clients
confidential information.
A detached workshop extends over the property line onto the neighboring lot by six inches. This legally
constitutes as a (an)... - correct answer -Encroachment.
A title insurance policy... - correct answer -Protects the purchaser and/or the lender against loss due to
an existing covered title defect that was undiscovered when the policy became effective.
A North Carolina broker is required to deliver all executed contracts to his/her clients no later than... -
correct answer -Three days after receipt by the broker.
Regulation Z on the Truth-In-Lending Act requires that lenders... - correct answer -Disclose mortgage
loan finance charges and interest rate to borrowers.
A buyer who is Muslim instructs the broker to show the buyer properties that are located in
neighborhoods that have a higher number of Muslim residents. If the broker complies with this client's
instructions the broker will be in... - correct answer -Compliance with the Civil Rights Act of 1866, but in
Which of the following statements about deeds is true? - correct answer -A special warranty deed
violation of the Federal Fair Housing Act.
contains a promise that the grantor will convey title on the property without any encumbrances.
Which of the following statements regarding the TILA-RESPA Integrated Disclosure (TRID) requirements
Under the North Carolina Residential Rental Agreements Act, - correct answer -
is true? - correct answer -Within three days of receiving a loan application, the lender must provide the
Tentantcanusewithheldpaymentofrenttopayforrequiredrepairs
applicant with a loan estimate.
A house located within the city limits has a current market value of $485,000 according to a recent According to the applicable provision in the standard Offer to Purchase and Contract form jointly
appraisal. The assessed value from the last county-wide tax valuation is $412,250. The tax rate is $.92 approved by the North Carolina Association of Realtors and the North Carolina Bar Association, what
per hundred for the county and $.34 per hundred for the city. What is the total annual property tax happens if buyer is unable to secure the financing described in the contract? - correct answer -If this
liability on the property, rounded to the nearest dollar? - correct answer -$5,194 information is discovered during the due diligence period, buyer may terminate the contract and receive
a refund of any earnest money deposit.
Which of the following situations would be considered a material fact in North Carolina? - correct
answer -The seller has been served with a foreclosure notice. The recordation of a deed to real property is required... - correct answer -To transfer the title from the
seller to the buyer.
and answers with 100% Complete solutions | verified and answers with 100% Complete solutions | verified
&updated 2026| Graded A+ &updated 2026| Graded A+
Which of the following is an example of personal property that could typically be removed by the seller
of a residential property? - correct answer -A tree house constructed in a tree on the property that can
be removed without damage to the tree.
Which of the following would create legally binding acceptance of a written offer? - correct answer -The
Which of the following properties would be the best comparable for an appraiser to use for an appraisal
seller's agent emails the buyer's agent that the seller signed the offer as written.
of a two-story subject property with 3 bedrooms and 2 baths in a subdivision near the downtown area
of a city? - correct answer -3 bedrooms, 2 baths two-story house in a nearby similar subdivision.
A broker is preparing a comparative market analysis (CMA) for a subject property with 3200 square feet.
A comparable property has 2750 square feet. The estimated value of 450 additional square feet is
Which of the following is a legal property management practice under the Federal Fair Housing Act as
$22,500. The broker should... - correct answer -Add $22,500 to the sales price of the comparable
amended in 1998? - correct answer -Requiring a credit report and a criminal background check for all
property.
applicants.
An option to purchase has been created for a one hundred acre parcel of farmland. During the one-year
How and when must a broker notify an unrepresented buyer that the broker represents the seller? -
option period, the option he has the right to... - correct answer -Execute the option to purchase on the
correct answer -In writing, before obtaining any personal information from the buyer.
terms in the option agreement.
Excise tax on real property in North Carolina is... - correct answer -$1per$500
A buyer is under contract to purchase a home for $370,000 and has qualified for an 80% loan-to-value
mortgage loan at an annual interest rate of 45%. How much will the buyer owe for the 1% loan
origination fee and 1 1/2 discount points associated with this loan package? - correct answer -$7,400
Which of the following scenarios best illustrates first substantial contact? - correct answer -Seller states
that she must relocate by the end of the year.
The buyer and the seller in a failed transaction cannot agree on how to disburse the earnest money
deposit being held in the listing firm's trust account. The listing firm must retain the records of this
Liens, restrictive covenants, easements, and encroachments are all examples of... - correct answer
transaction for 3 years after the... - correct answer -Date the earnest money is disbursed.
Encumbrances.
, Superior School of Real Estate Final Exam Questions Superior School of Real Estate Final Exam Questions
and answers with 100% Complete solutions | verified and answers with 100% Complete solutions | verified
&updated 2026| Graded A+ &updated 2026| Graded A+
The fiduciary duties of an exclusive buyer's agent include... - correct answer -Concealing clients
confidential information.
A detached workshop extends over the property line onto the neighboring lot by six inches. This legally
constitutes as a (an)... - correct answer -Encroachment.
A title insurance policy... - correct answer -Protects the purchaser and/or the lender against loss due to
an existing covered title defect that was undiscovered when the policy became effective.
A North Carolina broker is required to deliver all executed contracts to his/her clients no later than... -
correct answer -Three days after receipt by the broker.
Regulation Z on the Truth-In-Lending Act requires that lenders... - correct answer -Disclose mortgage
loan finance charges and interest rate to borrowers.
A buyer who is Muslim instructs the broker to show the buyer properties that are located in
neighborhoods that have a higher number of Muslim residents. If the broker complies with this client's
instructions the broker will be in... - correct answer -Compliance with the Civil Rights Act of 1866, but in
Which of the following statements about deeds is true? - correct answer -A special warranty deed
violation of the Federal Fair Housing Act.
contains a promise that the grantor will convey title on the property without any encumbrances.
Which of the following statements regarding the TILA-RESPA Integrated Disclosure (TRID) requirements
Under the North Carolina Residential Rental Agreements Act, - correct answer -
is true? - correct answer -Within three days of receiving a loan application, the lender must provide the
Tentantcanusewithheldpaymentofrenttopayforrequiredrepairs
applicant with a loan estimate.
A house located within the city limits has a current market value of $485,000 according to a recent According to the applicable provision in the standard Offer to Purchase and Contract form jointly
appraisal. The assessed value from the last county-wide tax valuation is $412,250. The tax rate is $.92 approved by the North Carolina Association of Realtors and the North Carolina Bar Association, what
per hundred for the county and $.34 per hundred for the city. What is the total annual property tax happens if buyer is unable to secure the financing described in the contract? - correct answer -If this
liability on the property, rounded to the nearest dollar? - correct answer -$5,194 information is discovered during the due diligence period, buyer may terminate the contract and receive
a refund of any earnest money deposit.
Which of the following situations would be considered a material fact in North Carolina? - correct
answer -The seller has been served with a foreclosure notice. The recordation of a deed to real property is required... - correct answer -To transfer the title from the
seller to the buyer.
