Correct answer: have short deadlines. Practice Test Question: 56 A prospective buyer made an offer to purchase a prope The owner responded with a counteroffer. While the bu was reviewing the counteroffer, the owner received a b offer. The owner can accept the second offer if Question Result: Incorrect Your answer: the first buyer is informed, in writing, of owner's intent to accept another offer. Correct answer: the owner withdraws the counteroffe before it is accepted. Practice Test Question: 63 If the terms of a contract indicate that Party A will be obliged to perform her part of the contract only if Party chooses to take a certain action, then the contract is a Question Result: Incorrect Your answer: unilateral contract in which only Party B made a promise to perform. Correct answer: unilateral contract in which only Part has made a promise to perform. Practice Test Question: 72 While an agent is showing a listed property, the seller a the buyer enter into an oral agreement for the purchas the home. If a dispute over the terms arises later, the agreement may be unenforceable because Question Result: Incorrect Your answer: oral agreements are never enforceable court. Correct answer: the agreement does not comply with Statute of Frauds. Practice Test Question: 79 The sellers want to accept a purchase offer, but only if price is raised by $5,000. What should they give the prospective buyer? Question Result: Correct Your answer: Counteroffer. Practice Test Question: 80 A broker has signed a listing contract for the sale of a h Which of the following could make this contract voidab Question Result: Incorrect Your answer: The listing contract specifies that a commission will be paid only if the house is sold within weeks. Correct answer: The seller is heavily under the influe of alcohol at the time of signing. Topic Area: Leasing and Property Management Total Topic Score: 2.0 Your Score Practice Test Question: 58 If leased premises become unusable for the purpose st the lease, the tenant may have the right to abandon th
premises. This action is called Question Result: Incorrect Your answer: condemnation. Correct answer: constructive eviction. Practice Test Question: 59 A couple are moving to a new city. They have decided t rent temporarily before buying a house to see which pa the city they would like to live in. What type of lease w BEST suit the couple's needs? Question Result: Correct Your answer: Month-to-month lease. Topic Area: Transfer of Title Total Topic Score: 6.0 Your Score Practice Test Question: 8 MOST closed real estate transactions should be reporte the IRS. REQUIRED information includes seller name(s) social security number(s) and Question Result: Correct Your answer: the sale price. Practice Test Question: 20 An exception to title insurance coverage is Question Result: Correct Your answer: defects that clearly appear in the title search.
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- Correct Answer, Real estate broker/agent, real estate brokers