Pearson Vue Test Questions and answers, 100% Accurate, Graded A+. Approved.

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Pearson Vue Test Questions and answers, 100% Accurate, Graded A+. Approved. Which of the following terms BEST describes personal property that, by its attachment to real property, is regarded a... s real estate? A. Emblements B. Personality C. Fixtures D. Appliances - ✔✔-C A salesperson who completes a written listing agreement with a seller is helping to create a contractual relationship between the: A. salesperson and the seller B. salesperson and the buyer C. salesperson and the listing broker D. salesperson's broker and the seller - ✔✔-D Which of the following statements about the income approach to value is CORRECT? A. It determines an investment property's value based on its return. B. It is used more frequently than the direct sales comparison (market value) approach to set loan-to-value ratios. C. It is the most accurate method of appraising single-family houses. D. It produces the highest estimate of value possible. - ✔✔-A When a buyer purchases a property subject to a seller's existing mortgage, which of the following statements is CORRECT? A. The seller's credit will not be affected by foreclosure on the property. B. The seller is released from all liability of the loan. C. Any mortgage loan obtained by the buyer to complete the purchase will be a first mortgage loan. D. The seller's obligations under the existing mortgage remain unchanged. - ✔✔-D The Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) is administered by the: A. Environmental Protection Agency B. Department of Housing and Urban Development C. Department of Health and Human Services D. Federal Emergency Management Agency - ✔✔-A A listing salesperson MUST disclose what information to potential buyers? A. Any zoning changes made after the property was listed B. Any ethnic diversity in the neighborhood C. The financial status of the seller D. The amount the seller originally paid for the property - ✔✔-A Property owners who want to list their property tell their licensee, "We want to sell only to a member of a minority group." In this situation, the licensee should advise the owners that they cannot legally discriminate against non-minority group members and: A. explain that it has to be an open listing B. explain the consequences of violations of the Federal Fair Housing Act C. report the owners to the local Board of REALTORS® D. remind the owners of their fiduciary responsibilities - ✔✔-B In stating a seller's price and terms to a prospective buyer, the seller's broker is required by the law of agency to state only those terms that are: A. included in the listing agreement B. based on the broker's evaluation of prevailing prices and terms C. favorable for the seller, as determined by the broker D. attractive to buyers, as determined by the broker - ✔✔-A 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 bona fide offer. B. Present only those offers that meet the seller's list price. C. Order any needed repairs to the property D. Advertise the property for sale. - ✔✔-D Buyers have made an offer to purchase a house for $250,000 including the dining room furniture. The offer will expire at 5:00 p.m. on Sunday. On Thursday, the sellers reply in writing that they will accept the offer of $250,000, but they will not include the dining room furniture. While the buyers are considering the counteroffer on Friday, the sellers change their minds and decide to accept the original offer, dining room furniture to be included, and they state so in writing. What is the current obligation of the buyers? A. Personal property cannot be included in the Purchase and Sale Agreement. B. An amendment to the contract is required to make it enforceable. C. They are legally obligated to withdraw their offer. D. They are not legallly obligated to purchase the house. - ✔✔-D Explain AnswerUse Space to activate.Use Space to activate.Character SelectorUse Space to Flag or Unflag.Flag for ReviewUse Space to Flag or Unflag. Main Content The Environmental Protection Agency requires that any buyer of a house built before 1978 must be alerted in writing to the possible presence of: A. mold B. lead C. radon D. underground storage tanks - ✔✔-B Potential buyers tell their licensee that they are worried about the presence of radon gas in a home they are considering buying. What should the salesperson say? A. "If you're worried, I recommend making an offer less than the listed price." B. "I asked the sellers and they said there is no problem." C. "I suggest that a radon inspection be performed." D. "Radon has not been proven to be harmful." - ✔✔-C Which of the following items would have to be disclosed to prospective buyers by the listing broker? A. The price the seller paid to purchase the property B. A defect existing in the property being offered C. The seller's motivation for the sale D. The lowest price the seller would accept - ✔✔-B If a lessee pays a fixed amount of rent plus all expenses, the lease is known as a: A. graduated lease B. net lease C. gross lease D. percentage lease - ✔✔-B 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 The presence of government-regulated wetlands on a building lot: A. adds to the value of the lot B. lowers property taxes C. renders the lot useless D. is a material fact - ✔✔-D Which of the following phrases is considered discriminatory advertising by HUD? A. Quiet Neighborhood B. Master Bedroom C. Exclusive Neighborhood D. Over 62 Condo Complex - ✔✔-C An agreement between what two parties determines the amount of earnest money during a real estate transaction? A. The buyer and seller B. The buyer's broker and the seller's broker C. The buyer's broker and the buyer D. The seller's broker and the seller - ✔✔-A A licensee places earnest money deposits into an operating account. This is an example of: A. a properly managed escrow account B. commingling of funds C. conversion of funds D. an advanced commission payment - ✔✔-B Under which circumstances is a licensee permitted to use a client's money for personal use? A. With verbal permission from the broker B. With written permission from the buyer and seller C. If permitted by the state real estate commission D. Under no circumstances - ✔✔-D A portion of an advertisement reads: "New 4-bedroom, 2-bath home for sale in a family neighborhood. Yours for only $1100 per month." This advertisement violates the provisions of the: A. Truth-in-Lending and Fair Housing Acts B. RESPA and Fair Housing Act C. Fair Housing and Americans with Disabilities Acts D. Fair Housing and Sherman Antitrust Acts - ✔✔-A Which of the following is true about tax withholdings from licensees' commissions if they are hired as independent contractors? A. Federal income taxes are not withheld. B. Only state and local taxes are withheld. C. All taxes are automatically withheld. D. Federal and state taxes are withheld from commissions greater than $10,000. - ✔✔-A 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 potential buyer who suffer a car crash while viewing properties C. Insurance that protects a company's assets if someone get injured on company property D. Insurance that pays for lost wages for licensees who are employees - ✔✔-C K and R bought a house as tenants in common. If [Show More]

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