CE SHOP ARKANSAS PRACTICE TEST QUESTIONS AND 2026/2027 UPDATE

CE SHOP ARKANSAS PRACTICE TEST QUESTIONS AND 2026/2027 UPDATE

Alexi signed a time-share purchase contract on the Wednesday before Memorial
Day weekend. What is the last day he can possibly submit a cancellation notice to
the seller?
A. On Memorial Day
B. The day after Memorial Day
C. The day before Memorial Day
D. The Friday before Memorial Day ANS: ✔- B. The day after Memorial Day
Since the fifth day after the signing of the contract is a holiday (Memorial Day),
Alexi has until the following day to submit his cancellation notice.
A few days ago, Arkansas broker Jessica submitted an offer to her seller client,
Sean. He called her this morning to say he's accepting the offer. Woohoo! To stay
in compliance with commission rules, what must occur prior to closing? Select the
best correct answer.
A. A copy of the contract, including any addenda, may be provided to the buyer
and seller after closing.
B. Both the buyer and the seller must receive a copy of the contract, including any
addenda and containing all required signatures, prior to closing.
C. The buyer must receive a copy of the contract, including any addenda,
containing all required signatures.
D. The seller must receive a copy of the contract, including any addenda,
containing all required signatures. ANS: ✔- B. Both the buyer and the seller
must receive a copy of the contract, including any addenda and containing all
required signatures, prior to closing.