Practice Test Question 34 A managing broker can be held responsible for

Practice test question 34 a managing broker can be

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Practice Test Question: 34 A managing broker can be held responsible for Question Result: Incorrect Your answer: all actions of associated salespersons. Correct answer: all real estate activities of salespersons. -------------------------------------------------------------------------------- Practice Test Question: 50 Which of the following may be considered prima facie evidence of discrimination by a broker? Question Result: Correct Your answer: Failure to display the equal housing opportunity poster at the broker's place of business. -------------------------------------------------------------------------------- Practice Test Question: 59 An agent shows a home to a couple and mentions that it has a lovely fireplace in the living room. After buying the home, the buyers and agent discover that the brick fireplace is just a decorative fireplace and is not "wood burning." Which of the following would BEST protect the agent from financial loss? Question Result: Incorrect Your answer: The state recovery fund. Correct answer: E & O coverage. -------------------------------------------------------------------------------- Practice Test Question: 60 Earnest money should be deposited into a trust account Question Result: Correct Your answer: in a timely manner, according to state laws. --------------------------------------------------------------------------------
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Practice Test Question: 67 The buyer wants to make the purchase offer contingent on a complex mortgage arrangement. The buyer's agent who is drawing up the contract should Question Result: Incorrect Your answer: consult the supervising broker for advice. Correct answer: suggest the buyer ask a lawyer to furnish the wording. -------------------------------------------------------------------------------- Practice Test Question: 77 A broker says, while showing a rural property, "This property has the world's purest well water." This would be an example of Question Result: Correct Your answer: an expression of opinion, or puffing, which could lead to misrepresentation. Topic Area: Real Estate Calculations Total Topic Score: 5.0 Your Score: 3.0 Practice Test Question: 7 Two buyers bought a house with a $178,000 mortgage. The interest rate is 6 1/2% per annum payable for 30 years. To the nearest dollar, what is their monthly principal and interest payment? (BE SURE TO USE THE AMORTIZATION TABLE.) Question Result: Incorrect Your answer: $1,085 Correct answer: $1,125 -------------------------------------------------------------------------------- Practice Test Question: 9 If you own a building free and clear that is worth $115,000 and want an annual return of 12%, what net income is needed each month? Question Result: Correct Your answer: $1,150.
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-------------------------------------------------------------------------------- Practice Test Question: 25 The sellers have agreed to give the buyers an allowance of $16.95 per square yard to retile the kitchen. If the kitchen is 10 feet x 14 feet, how much will it cost the sellers (to the nearest dollar)? Question Result: Correct Your answer: $264. -------------------------------------------------------------------------------- Practice Test Question: 29 A couple bought a rental house for $195,000. Its assessed value was $180,000. If the tax rate is $1.50 per $100 of assessed value, what is the monthly contribution the lender will REQUIRE for taxes? Round to the nearest cent. Question Result: Correct Your answer: $225.00 -------------------------------------------------------------------------------- Practice Test Question: 53 A buyer wants to purchase a home for $60,000 with a 15% down payment.
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