ASREB TEST QUESTION REVIEW
WITH ANSWERS LATEST
UPDATE ALREADY GRADED A+
A "finder fee" is best described as
a. a broker to broker referral fee
b. a credit to a residential tenant
c. a broker to salesperson bonus
d. a tenant's bribe for reducing the tenant's security
deposit - correct answer- b. a credit to a
residential tenant
A 3.45 acre lot sells for $.50 per square foot. What is the
selling price? - correct answer- $75,141
A broker and an unlicensed buyer are looking to buy the
same house. What must a broker disclose? - correct
answer- He can buy the property if he discloses he
has a license
,A broker has what duty to a third-party? - correct
answer- Honesty, and to disclose all material facts
A broker is a property manager for an owner and collects
monthly rents. The owner dies. What is the status of the
property management agreement? - correct
answer- Terminated upon death of the owner
A broker is selling a property to a buyer that was the site
of an old gas station. Which of the following would apply?
- correct answer- Broker should disclose due to
possibility of expensive cleanup
A broker owes the principal care and: - correct
answer- Obedience, loyalty, accountability,
disclosure
A broker runs an ad for a salesperson to work certain
hours/holidays. The salesperson would most likely be
considered: - correct answer- Employee
,A brokerage house has hourly wage staff and
commissioned sales people that set their own hours.
Which of the following describes the relationship? -
correct answer- Hourly group our employees,
sales people are independent contractors
A buyer and seller wish to cancel a contract, who signs the
cancellation? - correct answer- Buyer and seller
A deed must be signed by the: - correct answer-
Grantor
A defeasance clause in a Deed of Trust allows for: -
correct answer- Cancellation of the lender's
claim upon full note payment
A disabled person rents a house and has an assistant
animal. Which of the following is true regarding a pet
deposit? - correct answer- A pet deposit may
not be charged
, A forcible detainer is an action taken by: - correct
answer- Landlord or lesser (eviction notice)
A friable substance was found in a home built in 1977. All
of the following would apply except: - correct
answer- Re-painting with acrylic paint
A house rents for $980 per month. Property sold and
closes escrow April 15th. What is the proration of rent at
closing? - correct answer- Credit buyer $522.67
A lease in which the lesser completes improvements to
allow lessee to immediately start business is: - correct
answer- Turnkey lease
A lender charges 2 points at a cost of $2800, the lender
will loan 85% of the purchase price. What is the purchase
price? - correct answer- $164,705
A licensee owes the customer: - correct answer-
Honesty
WITH ANSWERS LATEST
UPDATE ALREADY GRADED A+
A "finder fee" is best described as
a. a broker to broker referral fee
b. a credit to a residential tenant
c. a broker to salesperson bonus
d. a tenant's bribe for reducing the tenant's security
deposit - correct answer- b. a credit to a
residential tenant
A 3.45 acre lot sells for $.50 per square foot. What is the
selling price? - correct answer- $75,141
A broker and an unlicensed buyer are looking to buy the
same house. What must a broker disclose? - correct
answer- He can buy the property if he discloses he
has a license
,A broker has what duty to a third-party? - correct
answer- Honesty, and to disclose all material facts
A broker is a property manager for an owner and collects
monthly rents. The owner dies. What is the status of the
property management agreement? - correct
answer- Terminated upon death of the owner
A broker is selling a property to a buyer that was the site
of an old gas station. Which of the following would apply?
- correct answer- Broker should disclose due to
possibility of expensive cleanup
A broker owes the principal care and: - correct
answer- Obedience, loyalty, accountability,
disclosure
A broker runs an ad for a salesperson to work certain
hours/holidays. The salesperson would most likely be
considered: - correct answer- Employee
,A brokerage house has hourly wage staff and
commissioned sales people that set their own hours.
Which of the following describes the relationship? -
correct answer- Hourly group our employees,
sales people are independent contractors
A buyer and seller wish to cancel a contract, who signs the
cancellation? - correct answer- Buyer and seller
A deed must be signed by the: - correct answer-
Grantor
A defeasance clause in a Deed of Trust allows for: -
correct answer- Cancellation of the lender's
claim upon full note payment
A disabled person rents a house and has an assistant
animal. Which of the following is true regarding a pet
deposit? - correct answer- A pet deposit may
not be charged
, A forcible detainer is an action taken by: - correct
answer- Landlord or lesser (eviction notice)
A friable substance was found in a home built in 1977. All
of the following would apply except: - correct
answer- Re-painting with acrylic paint
A house rents for $980 per month. Property sold and
closes escrow April 15th. What is the proration of rent at
closing? - correct answer- Credit buyer $522.67
A lease in which the lesser completes improvements to
allow lessee to immediately start business is: - correct
answer- Turnkey lease
A lender charges 2 points at a cost of $2800, the lender
will loan 85% of the purchase price. What is the purchase
price? - correct answer- $164,705
A licensee owes the customer: - correct answer-
Honesty
