A+ Graded Paper
Metro Brokers Final Exam 2025 | 185 Verified
Questions & A+ Answers
Questions and Mark scheme
Version: Final 1.1
,You client wants to purchase a home that is listed for $500,000 and ask you to put in an offer of $490,000. They also ask
you to put that the stove and new smart refrigerator stay in the property. The seller agrees to the price and the stove
but refuses to leave the refrigerator. They like the fact that it can order groceries from Amazon for them. You cross that
part out and the seller initials it. What kind of contract do you have?
a. A binding agreement
b. A terminated offer
c. An accepted offer
d. A counteroffer
e. Both B and D
f. Both A and C
g. A voided contract
h. None of the above - ✔✔e. Both B and D (B. terminated offer & D. counteroffer )
A salesperson shows a client a house with his own firm is creating what kind of agency when he or she submits an offer
for their buyer?
a. A general Agency
b. An implied agency
c. A Special Agency
d. A Dual Agency - ✔✔d. A Dual Agency
lender tells an agent to try and reduce the contract prices by $1,000 or their buyer will not qualify. What should you as
the agent do?
a. Amend the contract to reduce the price by $1,000 so your buyer will qualify.
b. Notify the seller and listing agent your client can't qualify for financing.
c. Explain you need authorization in writing by both parties.
d. Contact a new mortgage lender for your buyer, that can approve your buyer and have
them be the new lender. - ✔✔c. Explain you need authorization in writing by both parties.
Who pays for any repairs found in an inspection report?
,a. The buyer
b. The seller
c. The listing Broker
d. The selling Broker
e. Split between all parties
f. Whatever is stated in the contract. - ✔✔f. Whatever is stated in the contract.
A buyer and seller agree to do seller financing with a 30 year fully amortized loan. The buyer became the owner on
record and original owner has placed a lien on the property to protect their interest in the event of non-payment. What
type of transaction is this?
a. A Land Contract
b. A Purchase money mortgage
c. A loan assumption
d. A reverse mortgage - ✔✔b. A Purchase money mortgage
Your client signed a sales contract, but later wanted to void the contract since he was legally ruled incompetent prior to
signing the contract. Can your client have the contract voided?
a. NO, he signed the contract and must complete the transaction.
b. Yes, he was ruled legally incompetent prior to singing.
c. No, His guardian must follow through on the terms of the contract in their place.
d. Yes, because a buyer can back out of a contract any time prior to closing. - ✔✔b. Yes, he was ruled legally
incompetent prior to singing.
An apartment building has a Value of $750,000 and has a capitalization rate of 15%. If expenses equal 60% of gross
operating income, what is the gross operating income?
a. $67,500
b. $112,500
c. $281,250
d. $199, 200 - ✔✔c. $281,250
, An Agent describes the property line to his/her client but does not tell them that it is just an estimate and not exact
measurement. Later the client builds a fence, but has a suit filed against them by the neighbor claiming your client has
encroached on their property. Is the agent liable for the encroachment?
a. Yes, because the agent sold the house to their clients
b. No, because agents must submit a survey at closing for the property
c. Yes, since the agent did not disclose the boundaries were not exact.
d. No, Georgia is a buyer beware state
e. No, the agent's broker is liable since the contract was in the name of the broker. - ✔✔c. Yes, since the agent did not
disclose the boundaries were not exact.
A farmer planted, plowed, and harvested a field next to his property without the landowner's permission. He has done
this for over twenty-five years, and now wants to claim ownership of the field. Can he do this?
a. Yes, by filing Eminent domain procedures
b. Yes, since he has a prescriptive easement
c. Yes, by filing adverse possession procedures
d. No, the land has an owner. He can still attempt to purchase the field from the original
owner. - ✔✔c. Yes, by filing adverse possession procedures
A country club owns some luxury homes and restrict the rental of the homes to club members only. They do this
regardless if the perspective tenant is disabled. Is this a violation of Fair Housing or license law?
a. Yes, no one may discriminate on housing based on the protected class of Fair Housing.
b. No, if they do not discriminate in their club membership
c. No, if the homes are not equipped to handle disabled people. - ✔✔b. No, if they do not discriminate in their club
membership
What is the best way to prevent an encroachment or to discover one?
a. Have an appraisal done
b. Have an inspection done
c. Have a survey done
Metro Brokers Final Exam 2025 | 185 Verified
Questions & A+ Answers
Questions and Mark scheme
Version: Final 1.1
,You client wants to purchase a home that is listed for $500,000 and ask you to put in an offer of $490,000. They also ask
you to put that the stove and new smart refrigerator stay in the property. The seller agrees to the price and the stove
but refuses to leave the refrigerator. They like the fact that it can order groceries from Amazon for them. You cross that
part out and the seller initials it. What kind of contract do you have?
a. A binding agreement
b. A terminated offer
c. An accepted offer
d. A counteroffer
e. Both B and D
f. Both A and C
g. A voided contract
h. None of the above - ✔✔e. Both B and D (B. terminated offer & D. counteroffer )
A salesperson shows a client a house with his own firm is creating what kind of agency when he or she submits an offer
for their buyer?
a. A general Agency
b. An implied agency
c. A Special Agency
d. A Dual Agency - ✔✔d. A Dual Agency
lender tells an agent to try and reduce the contract prices by $1,000 or their buyer will not qualify. What should you as
the agent do?
a. Amend the contract to reduce the price by $1,000 so your buyer will qualify.
b. Notify the seller and listing agent your client can't qualify for financing.
c. Explain you need authorization in writing by both parties.
d. Contact a new mortgage lender for your buyer, that can approve your buyer and have
them be the new lender. - ✔✔c. Explain you need authorization in writing by both parties.
Who pays for any repairs found in an inspection report?
,a. The buyer
b. The seller
c. The listing Broker
d. The selling Broker
e. Split between all parties
f. Whatever is stated in the contract. - ✔✔f. Whatever is stated in the contract.
A buyer and seller agree to do seller financing with a 30 year fully amortized loan. The buyer became the owner on
record and original owner has placed a lien on the property to protect their interest in the event of non-payment. What
type of transaction is this?
a. A Land Contract
b. A Purchase money mortgage
c. A loan assumption
d. A reverse mortgage - ✔✔b. A Purchase money mortgage
Your client signed a sales contract, but later wanted to void the contract since he was legally ruled incompetent prior to
signing the contract. Can your client have the contract voided?
a. NO, he signed the contract and must complete the transaction.
b. Yes, he was ruled legally incompetent prior to singing.
c. No, His guardian must follow through on the terms of the contract in their place.
d. Yes, because a buyer can back out of a contract any time prior to closing. - ✔✔b. Yes, he was ruled legally
incompetent prior to singing.
An apartment building has a Value of $750,000 and has a capitalization rate of 15%. If expenses equal 60% of gross
operating income, what is the gross operating income?
a. $67,500
b. $112,500
c. $281,250
d. $199, 200 - ✔✔c. $281,250
, An Agent describes the property line to his/her client but does not tell them that it is just an estimate and not exact
measurement. Later the client builds a fence, but has a suit filed against them by the neighbor claiming your client has
encroached on their property. Is the agent liable for the encroachment?
a. Yes, because the agent sold the house to their clients
b. No, because agents must submit a survey at closing for the property
c. Yes, since the agent did not disclose the boundaries were not exact.
d. No, Georgia is a buyer beware state
e. No, the agent's broker is liable since the contract was in the name of the broker. - ✔✔c. Yes, since the agent did not
disclose the boundaries were not exact.
A farmer planted, plowed, and harvested a field next to his property without the landowner's permission. He has done
this for over twenty-five years, and now wants to claim ownership of the field. Can he do this?
a. Yes, by filing Eminent domain procedures
b. Yes, since he has a prescriptive easement
c. Yes, by filing adverse possession procedures
d. No, the land has an owner. He can still attempt to purchase the field from the original
owner. - ✔✔c. Yes, by filing adverse possession procedures
A country club owns some luxury homes and restrict the rental of the homes to club members only. They do this
regardless if the perspective tenant is disabled. Is this a violation of Fair Housing or license law?
a. Yes, no one may discriminate on housing based on the protected class of Fair Housing.
b. No, if they do not discriminate in their club membership
c. No, if the homes are not equipped to handle disabled people. - ✔✔b. No, if they do not discriminate in their club
membership
What is the best way to prevent an encroachment or to discover one?
a. Have an appraisal done
b. Have an inspection done
c. Have a survey done
