Real Estate 84 final q & a exam well rated A+
100% correct download to score A
•
A broker brings his seller an offer from a potential buyer. If the seller asks
about the buyer's race, the broker:
Selected Answer:
d.
may not disclose this information, because to do so would violate the Rumford Act
Answers: a.
must disclose this information to the seller, to fulfill his fiduciary
duties
b.
may disclose this information as long as he is confident that it
will not affect the seller's decision
c.
may disclose the information after obtaining permission from the
buyer
d.
may not disclose this information, because to do so would
violate the Rumford Act
• Question 2
1 out of 1 points
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:
, Selected b. Answer:
must return all of the deposit, but may then sue the
seller for his commission
Answers: a.
may deduct only sales expenses from the deposit before returning
it
b.
must return all of the deposit, but may then sue the
seller for his commission
c.
may deduct the full amount of his commission from the
deposit before returning it
d.
may deduct the full amount of his commission from the deposit,
then sue the seller for additional damages
• Question 3
1 out of 1 points
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:
Selected Answer: b.
seller second
Answers:
a
.
, b
u
y
d
o
w
n
b.
seller second
c.
wraparound mortgage
d.
equity exchange
• Question 4
• out of 1 points
A contingent sale collapses because the buyer is unable to sell his own property.
Which form is it appropriate to use at this point?
Selected Answer: a.
Bump notice
Answers: a.
Bump notice
b.
Bump notice reply
c.
Second buyer addendum
d.
, Cancellation agreement
• Question 5
• out of 1 points
A landlord has two apartments available for rent. Because he feels that married
couples and women tend to be better tenants, he decides to charge a higher
security deposit for single men. Additionally, he places a newspaper ad stating
"Women and married couples preferred." Which of the following is true?
Selected Answer:
c.
Both the higher security deposit and the newspaper ad violate the Fair Housing Act
Answers: a.
The higher security deposit violates the Fair Housing Act
b.
The newspaper ad violates the Fair Housing Act
c.
Both the higher security deposit and the newspaper ad violate the
Fair Housing Act
d.
Neither the security deposit nor the ad violates the Fair Housing
Act
• Question 6
1 out of 1 points
100% correct download to score A
•
A broker brings his seller an offer from a potential buyer. If the seller asks
about the buyer's race, the broker:
Selected Answer:
d.
may not disclose this information, because to do so would violate the Rumford Act
Answers: a.
must disclose this information to the seller, to fulfill his fiduciary
duties
b.
may disclose this information as long as he is confident that it
will not affect the seller's decision
c.
may disclose the information after obtaining permission from the
buyer
d.
may not disclose this information, because to do so would
violate the Rumford Act
• Question 2
1 out of 1 points
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:
, Selected b. Answer:
must return all of the deposit, but may then sue the
seller for his commission
Answers: a.
may deduct only sales expenses from the deposit before returning
it
b.
must return all of the deposit, but may then sue the
seller for his commission
c.
may deduct the full amount of his commission from the
deposit before returning it
d.
may deduct the full amount of his commission from the deposit,
then sue the seller for additional damages
• Question 3
1 out of 1 points
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:
Selected Answer: b.
seller second
Answers:
a
.
, b
u
y
d
o
w
n
b.
seller second
c.
wraparound mortgage
d.
equity exchange
• Question 4
• out of 1 points
A contingent sale collapses because the buyer is unable to sell his own property.
Which form is it appropriate to use at this point?
Selected Answer: a.
Bump notice
Answers: a.
Bump notice
b.
Bump notice reply
c.
Second buyer addendum
d.
, Cancellation agreement
• Question 5
• out of 1 points
A landlord has two apartments available for rent. Because he feels that married
couples and women tend to be better tenants, he decides to charge a higher
security deposit for single men. Additionally, he places a newspaper ad stating
"Women and married couples preferred." Which of the following is true?
Selected Answer:
c.
Both the higher security deposit and the newspaper ad violate the Fair Housing Act
Answers: a.
The higher security deposit violates the Fair Housing Act
b.
The newspaper ad violates the Fair Housing Act
c.
Both the higher security deposit and the newspaper ad violate the
Fair Housing Act
d.
Neither the security deposit nor the ad violates the Fair Housing
Act
• Question 6
1 out of 1 points
