2/22/25, 6:28 PM Rockwell Exam Real Estate Classes WA Final Exam 1 |2025| complete exam test questions and verified answers (MULTIPLE …
Rockwell Exam Real Estate Classes WA Final Exam 1
|2025| complete exam test questions and verified
answers (MULTIPLE CHOICES) AND
RATIONALES|GET IT 100% ACCURATE!!
Save
Terms in this set (180)
A buyer purchases a rental b. bill of sale
home that is fully furnished.
The document used to Deeds transfer title to real estate, a bill of sale is generally
transfer title to the furniture needed to transfer title to personal property.
is:
a. quitclaim deed
b. bill of sale
c. special warranty deed
d. general warranty deed
Ben receives a life estate in a A. Fee Simple Estate
property, with his nephew
Will designated as the The interest that passes to a designated person upon the
remainderman. When Ben death of a life tenant (or other measuring life) is a fee
dies, what kind of interest simple estate. Will has a remainder interest only up until
does Will receive? the moment Ben dies. Once Ben is dead, Will's interest
A. Fee Simple Estate immediately becomes a fee simple interest.
B. Life Estate
C. Remainder Interest
D. Reversionary Interest
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,2/22/25, 6:28 PM Rockwell Exam Real Estate Classes WA Final Exam 1 |2025| complete exam test questions and verified answers (MULTIPLE …
A buyer accepts a general D. Yes, there is a covenant providing marketable title
warranty deed from a seller,
believing that the seller is The general warranty deed contains a covenant of the
the sole owner of the right to convey, meaning that the grantor either has title to
property. The buyer later the interest or is an agent of the owner with the authority
finds out that the seller is to transfer the interest.
only a co-owner. Has a
covenant in the general
warranty deed been
violated?
A. No, the only covenant in a
general warranty deed
promises that the previous
owner didn't encumber the
property
B. No, the principle of caveat
emptor controls matters
concerning a deed
C. Yes, there is a covenant
providing equitable title
D. Yes, there is a covenant
providing marketable title
A plaintiff files a lawsuit D. Lis Pendens
involving a property and
also files a separate A Lis Pendens is a recorded notice stating that there is a
document intended to lawsuit pending that may affect title to the defendant's real
provide notice of the lawsuit. estate and that could bind the purchaser of the property.
This recorded notice of a
pending legal action is
called a/ an:
A. Abstract of judgement
B. Petition for alienation
C. Writ of execution
D. Lis Pendens
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,2/22/25, 6:28 PM Rockwell Exam Real Estate Classes WA Final Exam 1 |2025| complete exam test questions and verified answers (MULTIPLE …
A movie theater was built ten D. Will be allowed to continue since it was built before the
years ago. If the new zoning law went into effect
neighborhood is now zoned
entirely residential, the The movie theater is an example of a nonconforming use,
movie theater: which predated a zoning change. Nonconforming uses
A. will have to be torn down are generally allowed to continue, although they may not
B. must be remodeled to be enlarged, or resumed if they are stopped.
better conform to the
neighborhood's intended
use
C. will be allowed to
continue if the owner
obtains a conditional use
permit
D. will be allowed to
continue since it was built
before the new zoning law
went into effect
In a bilateral contract: C. two parties have exchanged promises, and both parties
A. a duty wil be performed are obligated to perform
by only one party
B. one party can restrict the In a bilateral contract, two parties have exchanged
performance of another promises and both parties are obligated to perform.
party (Bi=two way)
C. two parties have
exchanged promises, and
both parties are obligated to
perform
D. all parties have fully
performed their duties
Gerald engages a licensee D. Special Agent
to list his property and find a
buyer for it. In this context, When a licensee represents a seller in a single transaction,
the licensee is acting as a: and is authorized to perform typical duties associated
A. General agent with listing a property, she acts as a special agent.
B. power of attorney
C. property manager
D. special agent
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, 2/22/25, 6:28 PM Rockwell Exam Real Estate Classes WA Final Exam 1 |2025| complete exam test questions and verified answers (MULTIPLE …
A licensee located what B. No, because there was no ready, willing, and able buyer
seems like a ready, willing,
and able buyer. However, The most important rule of determining whether a seller is
the deal falls through at obligated to pay a commission is whether a ready, willing,
closing because the buyer and able buyer was found during the listing period. This
cant obtain necessary would take precedence over the seller's failure to provide
financing. At the same time, marketable title. A buyer who does not have financial
though, a seller turns out to ability to complete the purchase does not qualify as "able."
be unable to provide
marketable title. Does the
seller still owe a commission
to the listing agent in this
case?
A. No, because the sale
didn't close
B. No, because there was no
ready, willing, and able
buyer
C. Yes, because the licensee
saw the transaction through
the closing date
D. Yes, because the seller
has an absolute duty to
provide marketable title at
closing
Legally, how much earnest D. No earnest money is required
money must be submitted
with a valid purchase and While almost all buyers will include an earnest money
sale agreement? deposit along with the purchase and sale agreement, that
A. 1% of the purchase price is because of tradition. There is no contractual or legal
B. 3% of the purchase price requirement of a particular amount, or any earnest money
C. 5% of the purchase price, at all.
but the amount over 3%
cannot be retained as
liquidated damages
D. No earnest money is
required
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Rockwell Exam Real Estate Classes WA Final Exam 1
|2025| complete exam test questions and verified
answers (MULTIPLE CHOICES) AND
RATIONALES|GET IT 100% ACCURATE!!
Save
Terms in this set (180)
A buyer purchases a rental b. bill of sale
home that is fully furnished.
The document used to Deeds transfer title to real estate, a bill of sale is generally
transfer title to the furniture needed to transfer title to personal property.
is:
a. quitclaim deed
b. bill of sale
c. special warranty deed
d. general warranty deed
Ben receives a life estate in a A. Fee Simple Estate
property, with his nephew
Will designated as the The interest that passes to a designated person upon the
remainderman. When Ben death of a life tenant (or other measuring life) is a fee
dies, what kind of interest simple estate. Will has a remainder interest only up until
does Will receive? the moment Ben dies. Once Ben is dead, Will's interest
A. Fee Simple Estate immediately becomes a fee simple interest.
B. Life Estate
C. Remainder Interest
D. Reversionary Interest
https://quizlet.com/1009230517/rockwell-exam-real-estate-classes-wa-final-exam-1-2025-complete-exam-test-questions-and-verified-answers-m… 1/75
,2/22/25, 6:28 PM Rockwell Exam Real Estate Classes WA Final Exam 1 |2025| complete exam test questions and verified answers (MULTIPLE …
A buyer accepts a general D. Yes, there is a covenant providing marketable title
warranty deed from a seller,
believing that the seller is The general warranty deed contains a covenant of the
the sole owner of the right to convey, meaning that the grantor either has title to
property. The buyer later the interest or is an agent of the owner with the authority
finds out that the seller is to transfer the interest.
only a co-owner. Has a
covenant in the general
warranty deed been
violated?
A. No, the only covenant in a
general warranty deed
promises that the previous
owner didn't encumber the
property
B. No, the principle of caveat
emptor controls matters
concerning a deed
C. Yes, there is a covenant
providing equitable title
D. Yes, there is a covenant
providing marketable title
A plaintiff files a lawsuit D. Lis Pendens
involving a property and
also files a separate A Lis Pendens is a recorded notice stating that there is a
document intended to lawsuit pending that may affect title to the defendant's real
provide notice of the lawsuit. estate and that could bind the purchaser of the property.
This recorded notice of a
pending legal action is
called a/ an:
A. Abstract of judgement
B. Petition for alienation
C. Writ of execution
D. Lis Pendens
https://quizlet.com/1009230517/rockwell-exam-real-estate-classes-wa-final-exam-1-2025-complete-exam-test-questions-and-verified-answers-m… 2/75
,2/22/25, 6:28 PM Rockwell Exam Real Estate Classes WA Final Exam 1 |2025| complete exam test questions and verified answers (MULTIPLE …
A movie theater was built ten D. Will be allowed to continue since it was built before the
years ago. If the new zoning law went into effect
neighborhood is now zoned
entirely residential, the The movie theater is an example of a nonconforming use,
movie theater: which predated a zoning change. Nonconforming uses
A. will have to be torn down are generally allowed to continue, although they may not
B. must be remodeled to be enlarged, or resumed if they are stopped.
better conform to the
neighborhood's intended
use
C. will be allowed to
continue if the owner
obtains a conditional use
permit
D. will be allowed to
continue since it was built
before the new zoning law
went into effect
In a bilateral contract: C. two parties have exchanged promises, and both parties
A. a duty wil be performed are obligated to perform
by only one party
B. one party can restrict the In a bilateral contract, two parties have exchanged
performance of another promises and both parties are obligated to perform.
party (Bi=two way)
C. two parties have
exchanged promises, and
both parties are obligated to
perform
D. all parties have fully
performed their duties
Gerald engages a licensee D. Special Agent
to list his property and find a
buyer for it. In this context, When a licensee represents a seller in a single transaction,
the licensee is acting as a: and is authorized to perform typical duties associated
A. General agent with listing a property, she acts as a special agent.
B. power of attorney
C. property manager
D. special agent
https://quizlet.com/1009230517/rockwell-exam-real-estate-classes-wa-final-exam-1-2025-complete-exam-test-questions-and-verified-answers-m… 3/75
, 2/22/25, 6:28 PM Rockwell Exam Real Estate Classes WA Final Exam 1 |2025| complete exam test questions and verified answers (MULTIPLE …
A licensee located what B. No, because there was no ready, willing, and able buyer
seems like a ready, willing,
and able buyer. However, The most important rule of determining whether a seller is
the deal falls through at obligated to pay a commission is whether a ready, willing,
closing because the buyer and able buyer was found during the listing period. This
cant obtain necessary would take precedence over the seller's failure to provide
financing. At the same time, marketable title. A buyer who does not have financial
though, a seller turns out to ability to complete the purchase does not qualify as "able."
be unable to provide
marketable title. Does the
seller still owe a commission
to the listing agent in this
case?
A. No, because the sale
didn't close
B. No, because there was no
ready, willing, and able
buyer
C. Yes, because the licensee
saw the transaction through
the closing date
D. Yes, because the seller
has an absolute duty to
provide marketable title at
closing
Legally, how much earnest D. No earnest money is required
money must be submitted
with a valid purchase and While almost all buyers will include an earnest money
sale agreement? deposit along with the purchase and sale agreement, that
A. 1% of the purchase price is because of tradition. There is no contractual or legal
B. 3% of the purchase price requirement of a particular amount, or any earnest money
C. 5% of the purchase price, at all.
but the amount over 3%
cannot be retained as
liquidated damages
D. No earnest money is
required
https://quizlet.com/1009230517/rockwell-exam-real-estate-classes-wa-final-exam-1-2025-complete-exam-test-questions-and-verified-answers-m… 4/75
