Response none Correct answer 3 Score 0 out of 1 No Question 33 A property has

Response none correct answer 3 score 0 out of 1 no

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Response: [none] Correct answer: 3 Score: 0 out of 1 No Question 33 A property has sold for $127,000. The listing agreement calls for a commission of 7%. The listing broker and selling broker agree to share the commission equally. What will the listing agent receive if the agent is scheduled to get a 40% share? Response: [none] Correct answer: $1,778. Score: 0 out of 1 No Question 34 If a seller paid $488 for transfer taxes at closing, and the rate was $1.00 for every $400 or fraction thereof of the sale price, what was the sale price? Response: [none] Correct answer: $195,200 Score: 0 out of 1 No Question 35 Since 1994, a real estate broker has had an understanding with two of the five mortgage lenders in town. She recommends only those two lenders to her clients and does not tell clients about any other lenders. In return, the recommended lenders pay for the vacations the broker offers her salespeople as rewards for high performance. Based on these facts, which of the following statements is TRUE? Response: [none] Correct answer: The broker's arrangement with the lenders is an illegal kickback under RESPA. Score: 0 out of 1 No Question 36 An appraisal is Response: [none] Correct answer: a professional appraiser's opinion of value, supported by data and following approved methods. Score: 0 out of 1 No
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Question 37 A broker sold a home for $62,000. The broker charged the seller a 7 percent commission and will pay 25 percent of that amount to the listing salesperson and 30 percent to the selling salesperson. What amount of commission will the listing salesperson receive from the sale o the home? Response: [none] Correct answer: $1,085 Score: 0 out of 1 No Question 38 Which of the following best describes actual notice? Response: [none] Correct answer: It is knowledge received or imparted through direct experience. Score: 0 out of 1 No Question 39 They buyer changed her mind about buying a particular lot. She called her agent and said, "Withdraw my offer." Her action is called a Response: [none] Correct answer: revocation Score: 0 out of 1 No Question 40 Which of the following is a physical characteristic of land? Response: [none] Correct answer: Indestructability. Score: 0 out of 1 No Question 41 A and B have entered into a binding offer to purchase. B will buy A's house. Which of the following statements correctly describes the status of the transaction? Response: [none] Correct answer: A will hold legal title until closing, and B will hold equitable title until closing. Score: 0 out of 1 No Question 42
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All of the following questions are acceptable when interviewing a prospective tenant EXCEPT: Response: [none] Correct answer: "Do you have any kind of physical disability that I can't see?" Score: 0 out of 1 No Question 43 A certain property has the following liens recorded against it: a mortgage lien dating from three years ago; a mechanic's lien dating from two years ago; a real estate tax lien for the current year; and a second mortgage lien dating from the current year. In case of a foreclosure, which of these liens will be paid first?
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