Magnolia Cram Questions Part 1.
Questions with Correct Verified
Answers. Latest Edition 2026-2027.
Graded A
A broker has listed a seller's property. The seller has disclosed to the
broker that the roof leaks. The broker has satisfied his legal obligation if he
tells the buyer
a. the roof leaks.
b. the buyer should order an inspection because it just makes good sense.
c. nothing, provided the broker has a transaction broker relationship with
the seller.
d. nothing, provided the contract was "as is". - Ansa. the roof leaks.
A broker sold an up-to-date and accurate rental list to a customer on June
10th for $475.00 On June 14th the customer decided not to obtain a rental
and then orally demanded, and should receive, how much of a refund?
a. Nothing because the demand was made orally and not in writing
b. Nothing because the list was completely up to date
c. $475.00
d. $356.25 - Ansd. $356.25 (75% back if no mistakes and within the 30
days)
1
,A broker sold three houses in Florida to a customer that now lives in
Chicago. This same customer uncovered an opportunity with someone who
might want to buy property from the Florida broker. The customer asked
the broker if he would reimburse her for the expenses incurred in
convincing the person to buy property from the Florida broker. Which
applies?
a. The broker can reimburse the customer for the expenses, provided it is
for the referral.
b. The broker can reimburse the customer for the expenses, but the total of
the reimbursement cannot exceed $50.00
c. The broker cannot reimburse the customer because the customer does
not have an active real estate license.
d. The broker can reimburse the customer because this is out of state. -
Ansc. The broker cannot reimburse the customer because the customer
does not have an active real estate license.
A building is 4 stories high and each floor is 100 x 50. I want to put bins in
all the space I can. I can't use 20% of each floor. The bins are 5 x 5. How
many bins can I put in the building?
a. 320
b. 610
c. 640
2
, d. 590 - Ansc. 640
A father intended to leave his house to his son and executed a general
warranty deed to the property and gave it to his son. Shortly after, the
father died, before the deed could be recorded. Which applies?
a. The son does not have legal title to the house because the deed was
never recorded.
b. The son has legal title to the house, but only after providing constructive
notice, (recording the deed).
c. The son has title to the property because title to the property was
conveyed when the father delivered the deed to his son and his son
voluntarily accepted it.
d. Title to real property is conveyed after the deed is recorded and
accepted. In this situation, the property will have to go through probate. -
Ansc. The son has title to the property because title to the property was
conveyed when the father delivered the deed to his son and his son
voluntarily accepted it.
A property sold for $450,000 The sales associate that listed the house is
entitled to 70% of all commission earned. If the sales associate's check
was $22,050 what was the property listed at?
a. 6%
b. 7%
c. 8%
d. 7.5% - Ansb. 7%
3
Questions with Correct Verified
Answers. Latest Edition 2026-2027.
Graded A
A broker has listed a seller's property. The seller has disclosed to the
broker that the roof leaks. The broker has satisfied his legal obligation if he
tells the buyer
a. the roof leaks.
b. the buyer should order an inspection because it just makes good sense.
c. nothing, provided the broker has a transaction broker relationship with
the seller.
d. nothing, provided the contract was "as is". - Ansa. the roof leaks.
A broker sold an up-to-date and accurate rental list to a customer on June
10th for $475.00 On June 14th the customer decided not to obtain a rental
and then orally demanded, and should receive, how much of a refund?
a. Nothing because the demand was made orally and not in writing
b. Nothing because the list was completely up to date
c. $475.00
d. $356.25 - Ansd. $356.25 (75% back if no mistakes and within the 30
days)
1
,A broker sold three houses in Florida to a customer that now lives in
Chicago. This same customer uncovered an opportunity with someone who
might want to buy property from the Florida broker. The customer asked
the broker if he would reimburse her for the expenses incurred in
convincing the person to buy property from the Florida broker. Which
applies?
a. The broker can reimburse the customer for the expenses, provided it is
for the referral.
b. The broker can reimburse the customer for the expenses, but the total of
the reimbursement cannot exceed $50.00
c. The broker cannot reimburse the customer because the customer does
not have an active real estate license.
d. The broker can reimburse the customer because this is out of state. -
Ansc. The broker cannot reimburse the customer because the customer
does not have an active real estate license.
A building is 4 stories high and each floor is 100 x 50. I want to put bins in
all the space I can. I can't use 20% of each floor. The bins are 5 x 5. How
many bins can I put in the building?
a. 320
b. 610
c. 640
2
, d. 590 - Ansc. 640
A father intended to leave his house to his son and executed a general
warranty deed to the property and gave it to his son. Shortly after, the
father died, before the deed could be recorded. Which applies?
a. The son does not have legal title to the house because the deed was
never recorded.
b. The son has legal title to the house, but only after providing constructive
notice, (recording the deed).
c. The son has title to the property because title to the property was
conveyed when the father delivered the deed to his son and his son
voluntarily accepted it.
d. Title to real property is conveyed after the deed is recorded and
accepted. In this situation, the property will have to go through probate. -
Ansc. The son has title to the property because title to the property was
conveyed when the father delivered the deed to his son and his son
voluntarily accepted it.
A property sold for $450,000 The sales associate that listed the house is
entitled to 70% of all commission earned. If the sales associate's check
was $22,050 what was the property listed at?
a. 6%
b. 7%
c. 8%
d. 7.5% - Ansb. 7%
3
