pearson vue practice exam Flashcards

pearson vue practice exam Flashcards which of the following actions is an example of blockbustinga. telling homeowners that a neighborhood will have a new golf courseb. advertising a neighborhood party where alcohol will be servedc. making sales calls to neighbors who are on the Do Not Call listd. stating that the presence of certain persons in a neighborhood will increase crime

• stating that the presence of certain persons in a

neighborhood will increase crime buyers make an earnest money deposit on a property and sign a contract that is contingent on specific financing terms. if a bank commits to the financing, but the buyers change their minds and notify the seller in writing that they do not intend to buy the property, which of the following statements is correcta. the bank may sue the buyersb. the seller may sue the buyers for breach of contractc. the buyers may rescind the contract only after paying the brokerage feed. the buyers are entitled to the return of the earnest money deposit

• the seller may sue the buyers for breach of contract

before advertising a property through social media, a licensee MUST obtain written authorization from thea. real estate companys IT teamb. social media comp.c. state real estate commishd. seller

• seller

title insurance on a prop is $1,740.90. the fee for the title search is $375, the cost of preparing papers is $75, and other miscellaneous fees amount to $60.10. if the seller pays %60 of the total charge and the buyer pays the balance, to the nearest dollar, how much MORE will the seller pay than the buyera. $225b. $450c. $530d. $900

• $450

if buyers purchased a home with a secured loan for 100%, what kind of loan did they use?a. VA- guaranteedb.FHA-insuredC. conventionald. wraparound

• VA-gauranteed

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 ofa. a varianceb. spot-zoningc.nonconforming used. exclusionary zoning

• nonconforming use

a homeowner who plans to travel for a year asks a real estate firm to rent the house for this period and indicates a preference for a white family rather than a black family, "if at all possible" under the federal fair housing act, the

broker SHOULD inform them that these instructions:a.

cannot be followed bc they violate The Actb. will be followed only if the owner accepts responsibility in case of

lawsuitc. cannot be folowed unless the owner puts it in writingd. will be followed bc normally the house is owner-occupid

• cannot be followed bc it violates the Act

a listing contract MUST contain thea. signatures of the sellers and the buyersb. beginning and ending dates of the contractc. minimum price the seller will acceptd. closing date

• beginning and ending dates of the contract

Under a sales contract, the legal remedy that may be used to force the seller to consummate the sale is calleda.

adverse possessionb. foreclosurec. specific performanced.forcible detainer

• specific performance

federal law requires a written disclosure to be provided to purchasers for which of the following environmental hazards?a. lead-based paintb. formaldehydec. asbestosd.radon

• lead-based paint

the income approach is MOST likely to be used when determining the value of aA. vacant residential lotb. office buildingc. single-family homed. cooperative apartment

• office building

which of the following situations BEST demonstrates an example of an encroachmenta. a legal access road that runs across a prop from a public road to another propertyb.a storage building that extends over the boundary line onto an adjacent propc. timber that has been cut down on the prop by a tenant to use as firewoodd. a right of way for electric and telephone lines that cross a prop.

• a right of way for electric and telephone lines that cross a

prop.a broker lists a property. the broker advertises and shows the property several times, but after each showing, the owners call the broker with a list of unreasonable restrictions they want placed on the showing of the property. the broker decides not to continue the listing. in

this situation the broker:a. must sue the owners to obtain a

release from the listing contractb. must give the owners 30 days advance written notice to cancel the listing contractc.may not cancel the listing contractd. may rescind the listing contract w/o obtaining permission from owners

• may rescind the listing contract w/o permission from

owner when a contract states that "time is of the essence," the contract MUST be delivered and presenteda. within 24 hoursb. within 48 hoursc. electronicallyd. as soon as possible

D. ASAP

as defined in a real estate contract, the due diligence period allows which of the following parties to go thoroughly investigate a property?a. brokerb. lenderc. buyerd. seller

• buyer

in reviewing the deed to a listed property, a licensee noted a number of limitations regarding its use. these limitations

aare commonly known as:A. CodicilsB. constraintsC.

building codesD. restricted covenants

• Restricted covenants

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 areab. obtain an up-to-date flood map from FEMAc.determine how far the property is from a flood plaind. locate the property on a flood map

• obtain an up-to-date flood map from FEMA

which type of mortgage loan has provisions for periodic changes in the amount of the payment, the interest rate, the maturity date, and the remaining balance owed?a. fha loanb conventional loanc. blanket loand. adjustable loan

• adjustable loan