Compucram Practice Question and Answers 2024
When is a bringdown endorsement issued? **** Prior to close of escrow
A loan is paid in full but the release is never recorded. What is true? **** A cloud
remains on title
When an attorney gives an abstract of title, he would also give: **** An opinion
Buyer purchases property and receives a warranty deed. What would not transfer with
the deed? **** Annual crops
Who would hold title to real estate? **** Life tenant with a life estate
What is an appraisal? **** An opinion of value for the day the appraisal only
What is market value? **** The price the property is likely to bring in an "arms length"
transaction
The key factor of an exclusive right to sell listing is: **** Broker is paid no matter who
sells the property
Seller tells the broker he only wants to see full price offers. An offer is received less than
full price, what should the broker do? **** Must present the offer
Seller and buyer sign a purchase contract. The buyer wishes to give it to another party.
This action is called: **** Assignment
The seller tells the broker they would like to sell their property furnished. The agent
should do all of the following EXCEPT: **** Add the personal property to the deed
Puffing comments were made by a real estate agent to describe a property. These
comments would be considered: **** Legal exaggeration
Seller tells the broker he only wants to see full price offers. What must the broker do
when an offer is received that is less than full price? **** Must present the offer
What is friable material? **** Asbestos
When a property is sold in "as is" condition, this means: **** The seller will not make
any necessary repairs.
When is a bringdown endorsement issued? **** Prior to close of escrow
A loan is paid in full but the release is never recorded. What is true? **** A cloud
remains on title
When an attorney gives an abstract of title, he would also give: **** An opinion
Buyer purchases property and receives a warranty deed. What would not transfer with
the deed? **** Annual crops
Who would hold title to real estate? **** Life tenant with a life estate
What is an appraisal? **** An opinion of value for the day the appraisal only
What is market value? **** The price the property is likely to bring in an "arms length"
transaction
The key factor of an exclusive right to sell listing is: **** Broker is paid no matter who
sells the property
Seller tells the broker he only wants to see full price offers. An offer is received less than
full price, what should the broker do? **** Must present the offer
Seller and buyer sign a purchase contract. The buyer wishes to give it to another party.
This action is called: **** Assignment
The seller tells the broker they would like to sell their property furnished. The agent
should do all of the following EXCEPT: **** Add the personal property to the deed
Puffing comments were made by a real estate agent to describe a property. These
comments would be considered: **** Legal exaggeration
Seller tells the broker he only wants to see full price offers. What must the broker do
when an offer is received that is less than full price? **** Must present the offer
What is friable material? **** Asbestos
When a property is sold in "as is" condition, this means: **** The seller will not make
any necessary repairs.
