Final Exam (Ch 01 - 12)_ 19SU RE-122-
04_ Real Estate with answers wel rated
A+ 100% correct
This attempt took less than 1 minute.
Question 1 pts
A broker brings his seller an offer from a potential
buyer. If the seller asks about the buyer's race, the
broker:
must disclose this information to the seller, to fulfill his
fiduciary duties
may disclose this information as long as he is
confident that it will not affect the seller's
decision
may disclose the information after obtaining permission
from the buyer
er
may not disclose this information, because to do
so would violate the Rumford Act
Unanswered
, orrect Answ
Question 2 pts
A broker received an offer with a deposit for one of his
listings. The seller accepted the offer. But before the
transaction closed, the buyer and seller mutually
agreed to cancel it. The buyer requests the return of
the deposit, and the seller has no objection. The
broker:
may deduct only sales expenses from the deposit before
returning it
er
must return all of the deposit, but may then sue the
seller for his commission
may deduct the full amount of his
commission from the deposit before
returning it
may deduct the full amount of his commission
from the deposit, then sue the seller for
additional damages
Unanswered
,orrect Answ
Question 3 pts
A buyer obtains a 90% institutional loan for $270,000
toward the purchase of a $300,000 house. The buyer does
not have the necessary $30,000 for the downpayment, so
the seller takes back a $15,000 ten-year mortgage and
the buyer contributes the other $15,000 in cash. This
arrangement is known as a/an:
buydown
, er seller second
wraparound mortgage
equity exchange
Unanswered
orrect Answ
Question 4 pts
04_ Real Estate with answers wel rated
A+ 100% correct
This attempt took less than 1 minute.
Question 1 pts
A broker brings his seller an offer from a potential
buyer. If the seller asks about the buyer's race, the
broker:
must disclose this information to the seller, to fulfill his
fiduciary duties
may disclose this information as long as he is
confident that it will not affect the seller's
decision
may disclose the information after obtaining permission
from the buyer
er
may not disclose this information, because to do
so would violate the Rumford Act
Unanswered
, orrect Answ
Question 2 pts
A broker received an offer with a deposit for one of his
listings. The seller accepted the offer. But before the
transaction closed, the buyer and seller mutually
agreed to cancel it. The buyer requests the return of
the deposit, and the seller has no objection. The
broker:
may deduct only sales expenses from the deposit before
returning it
er
must return all of the deposit, but may then sue the
seller for his commission
may deduct the full amount of his
commission from the deposit before
returning it
may deduct the full amount of his commission
from the deposit, then sue the seller for
additional damages
Unanswered
,orrect Answ
Question 3 pts
A buyer obtains a 90% institutional loan for $270,000
toward the purchase of a $300,000 house. The buyer does
not have the necessary $30,000 for the downpayment, so
the seller takes back a $15,000 ten-year mortgage and
the buyer contributes the other $15,000 in cash. This
arrangement is known as a/an:
buydown
, er seller second
wraparound mortgage
equity exchange
Unanswered
orrect Answ
Question 4 pts
