Pearson VUE Sales Agent License Exam Questions and answers, 100% Accurate, rated A+

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Pearson VUE Sales Agent License Exam Questions and answers, 100% Accurate, rated A+ In order for a tenant to claim relief for constructive eviction... - ✔✔-The landlord must have intentionall... y withheld required repairs or maintenance A buyer purchases a furnished condominium apartment as an investment. The document that evidences the buyer's ownership of the furniture is a... - ✔✔-Bill of Sale A broker who enters into a property management contract is considered a... - ✔✔-Fiduciary A buyer's interest in real property, acquired at the moment the seller and the buyer enter into a sales contract, is known as... - ✔✔-Equitable Interest The appropriate time for a selling broker to explain the agency relationship to a prospective buyer is... - ✔✔-At their initial meeting A broker is asked to lease 1,200 square feet of warehouse space at $6 per square foot per year. If the broker's commission will be 8 percent of the first year's rental income, the MAXIMUM amount payable is... - ✔✔-$576 A geographic region in which similar properties compete with the subject property for potential buyers is called a... - ✔✔-Market Area In the absence of a formal appraisal report, which of the following choices is the MOST appropriate for setting a listing price in a new, rapidly selling neighborhood? - ✔✔-The price that willing buyers have recently paid for similar structures Which of the following factors would be included in the description of replacement cost? - ✔✔-Similar utility and current material Under an exclusive right-to-sell listing, a broker has the authority to take which of the following actions on behalf of a seller? - ✔✔-Advertise the property for sale Under a lease for a commercial property, a tenant agrees to pay $4,000 per month plus 3% of the gross monthly sales. This type of lease is called a... - ✔✔-Percentage The agency that is charged with enforcing the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) in the case of an owner who allows the dumping of wastes on a property is the... - ✔✔-Environmental Protection Agency A percentage lease would MOST often be used for tenants in... - ✔✔-A Shopping Center A license holder is showing a home built in 1972 to buyers who notice paint flaking on the woodwork. How should the license holder proceed? - ✔✔-Advise the prospective buyers to get a lead-based paint inspection. A lot was purchased as an investment for $10,500 and sold a year later at a loss of 20%. If the owner paid a 10% commission, what was the owner's net loss on the sale? - ✔✔-$2,940 A broker lists a property. A potential buyer tells the broker that he has heard that the crime rate in the neighborhood is increasing. Which of the following is the broker's BEST response to the buyer? - ✔✔-Check with local law enforcement authorities about the crime rate Which of the following statements about the law of agency is CORRECT? - ✔✔-It establishes a fiduciary relationship. A lender's title policy will protect the: - ✔✔-Lender against existing, undiscovered title defects The provision in a mortgage or deed of trust that gives the lender the rights to call the entire balance due upon a default in any payment is called a(n)... - ✔✔- Acceleration Clause In order for a property manager to determine net operating income on a property, which of the following fees is subtracted from the effective gross income? - ✔✔-Operating Expenses The value placed on land and buildings by a governmental unit for use in levying annual real estate taxes is called the... - ✔✔-Assessed Value If a buyer makes a 20% down payment and obtains a $75,000 mortgage, what is the sales price of the property? - ✔✔-$93,750 A special warranty deed provides... - ✔✔-Protection against defects that occurred while the grantor held title Which of the following acts is illegal under Federal Fair Housing law? - ✔✔-Advertising property for sale only to members of a specific national origin A loan that provides for increases and decreases in the interest rate during its term is known as a(n)... - ✔✔-Adjustable-Rate Mortgage The right of local government officials to acquire title to real estate for public purposes by condemnation is based on the power of... - ✔✔-Eminent Domain The price for which a property will sell if offered [Show More]

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