UPDATE | ALREADY GRADED A+
when a prospective buyer asks about a property's location in regard to a flood zone, the
licensee SHOULD direct the buyer to:
a. calculate the average cost of flood insurance in the area
b. obtain an up-to-date flood map from FEMA
c. determine how far the property is from a flood plain
d. locate the property on a flood map b. obtain an up-to-date flood map from FEMA
a broker lists a property, and the seller does not want the broker to show it to anyone with
children because the seller's neighbor does not like them. the broker SHOULD
a. include the seller's wish in the MLS listing remarks
b. verbally disclose it to all agents or potential buyers
c. instruct the seller regarding fair housing and possibly decline the listing
d. ask the seller to wait for an offer and then inquire about family status of potential buyers
c. instruct seller regarding fair housing and possibly decline listing
an agreement between what two parties determines the amount of earnest money during a
real estate transaction
a. the buyer and the seller
b. the buyers broker and the sellers broker
c. the buyers broker and the buyer
d. the sellers broker and the seller a. the buyer and the seller
,if buyers purchased a home with a secured loan for 100%, what kind of loan did they use?
a. VA- guaranteed
b. FHA-insured
C. conventional
d. wraparound a. VA-gauranteed
a contract calls for the buyer to pay $65,000 for a house and 1 acre of land, plus $5,000 for each
additional acre of land, subject to a survey. if the survey reveals a total land area of 4.3 acres,
the total amount to be paid for the house and land is:
a. $70,000
b. $80,000
c. $81,000
d. $86,000 c $81,000
a veteran is entitled to which of the following benefits upon repayment of the full loan balance
of a VA mortgage?
a. restoration of eligibility for future use
b. refund of any discount points paid by the previous seller
c. refund of the origination fee or points
d. partial refund of all interest paid on the loan a. restoration of eligibility for future use
an illegal lending practice whereby a bank refuses to make mortgage loans in a certain
neighborhood based on the ethnic makeup of that area is known as:
, a. segregation
b. bad-risk lending
c. blueblooding
d. redlining d. redlining
under an exclusive right-to-sell listing, a licensee has the authority to take which of the following
actions on behalf of a seller
a. accept any bonafide offer
b. present only those offers that meet the sellers list price
c. order any needed repairs to the prop
d. advertise the prop for sale d, advertise the prop for saleq
the continued use of a property that was lawful at the time the use began but now is in
violation of a zoning regulation is an example of
a. a variance
b. spot-zoning
c. nonconforming use
d. exclusionary zoning c. nonconforming use
which of the following BEST describes a purpose of general liability insurance?
a. insurance that protects a licensee in the event of an on-the-job injury
b. insurance that covers a licensee and a potential buyer who suffer a car crash while viewing
properties