Law of Contracts Exam PrepQuestions
and Answers (Verified Answers)
1. All of the following acts on the part of a real estate broker would constitute steering and
thus be prohibited under the Fair Housing Act EXCEPT:
A) directing a prospective buyer of one minority group to work only with a salesperson of
the same minority group and to look at areas dominated bythat minority group
B) directing a member of one minority group away from properties locatedin areas
dominated by other races
C) referring a member of one minority group to properties located only inareas dominated by
members of the same group
D) directing a minority buyer to an expensive subdivision Answer : D)
directing aminority buyer to an expensive subdivision
2. The One-to-Four Family Residential Contracts states:
A) only the buyer needs to sign the contract
B) licensees cannot give legal advice
C) no more than four people may live on the property
D) it may be used for condominiums Answer : B) licensees cannot give
legal advice
,3. Which listing is a non-exclusive agreement that lets the owner sell the
, property by themselves?
A) Open listing
B) Net listing
C) Exclusive Agency listing
D) Exclusive RightTo Sell listing Answer : A) Open listing
4. In the deed, the clause which sets forth the extent of the title being conveyed
is:
A) hereditaments
B) the demising clause
C) the indenture clause
D) the habendum clause Answer : D) the habendum clause
5. When one of the parties of a contract may legally reject it, the contract issaid to be:
A) voidable
B) void
C) unenforceable
D) valid Answer : A) voidable
6. Listing contracts obtained by a real estate salesman are considered to be:
A) the salesman's own property
and Answers (Verified Answers)
1. All of the following acts on the part of a real estate broker would constitute steering and
thus be prohibited under the Fair Housing Act EXCEPT:
A) directing a prospective buyer of one minority group to work only with a salesperson of
the same minority group and to look at areas dominated bythat minority group
B) directing a member of one minority group away from properties locatedin areas
dominated by other races
C) referring a member of one minority group to properties located only inareas dominated by
members of the same group
D) directing a minority buyer to an expensive subdivision Answer : D)
directing aminority buyer to an expensive subdivision
2. The One-to-Four Family Residential Contracts states:
A) only the buyer needs to sign the contract
B) licensees cannot give legal advice
C) no more than four people may live on the property
D) it may be used for condominiums Answer : B) licensees cannot give
legal advice
,3. Which listing is a non-exclusive agreement that lets the owner sell the
, property by themselves?
A) Open listing
B) Net listing
C) Exclusive Agency listing
D) Exclusive RightTo Sell listing Answer : A) Open listing
4. In the deed, the clause which sets forth the extent of the title being conveyed
is:
A) hereditaments
B) the demising clause
C) the indenture clause
D) the habendum clause Answer : D) the habendum clause
5. When one of the parties of a contract may legally reject it, the contract issaid to be:
A) voidable
B) void
C) unenforceable
D) valid Answer : A) voidable
6. Listing contracts obtained by a real estate salesman are considered to be:
A) the salesman's own property
