Summary REAL ESTATE LICENSE EXAM WITH COMPLETE QUESTIONS AND UPDATED ANSWERS LATEST TEST 2024

REAL ESTATE LICENSE EXAM UNIT 11,CONTRACTS 12% Which group of legal instruments may legally be prepared by a licensed real estate broker? a. listing contracts, buyer brokerage agreements, commercial leases, and deeds b. leases, option contracts, promissory notes, and buyer brokerage agreements c. listing agreements, buyer brokerage agreements, sale contracts, and option contracts d. mortgages, promissory notes, commercial leases, and option contracts - ANSWERS,c. listing agreements, buyer brokerage agreements, sale contracts, and option contracts failure to comply with the statute of frauds a. may not constitute an illegal act but would always invalidate a sale contract b. would have to do with whether a contract is in writing c. concerns adherence to prescribed time frames of enforcement d. is prima facie evidence of the intent to commit fraud - ANSWERS,b. would have to do with whether a contract is in writing which contract does NOT come under the jurisdiction of the statute of frauds?