Question

Intentional misrepresentation or concealment of a known fact by any agent in a real estate transaction after a buyer makes a direct inquiry regarding any deaths on the property is:

a) a breach of the seller's agent's general duty owed to the buyer to respond truthfully.

b) a breach of the buyer's agent's agency duty owed the buyer as the buyer's representative.

c) Both a and b.

d) Neither a nor b.

A property's net operating income (NOI) represents the annual return the property delivers to the owner which is accounted for as:

a) a return of the owner's original capital investment, called depreciation.

b) a return on the owner's capital investment, called a yield.

c) Both a and b.

d) Neither a nor b.

An Annual Property Operating Data sheet (APOD), prepared by a seller's agent and handed to a prospective buyer provides operating information on the property, including:

a) the estimated net operating income (NOI).

b) the spendable income.

c) the income tax consequences the prospective buyer will likely experience during the first year of ownership.

d) All of the above.

The use of ___________ still requires a written carryback disclosure to be delivered.

a) a land sales contract

b) a lease-option agreement

c) an unexecuted purchase agreement with interim occupancy

d) Any of the above.

As a minimum requirement, the carryback disclosure statement is to be signed by the buyer and seller prior to:

a) disclosing the condition of the property.

b) meeting each other's agents.

c) signing the purchase agreement.

d) closing the carryback sales escrow.

Answer 1

Question:- Intentional misrepresentation or concealment of a known fact by any agent in a real estate transaction after a buyer makes a direct inquiry regarding any deaths on the property is:

Answer:- a breach of the buyer's agent's agency duty owed the buyer as the buyer's representative.

Question:- A property's net operating income (NOI) represents the annual return the property delivers to the owner which is accounted for as:

Answer:- Both a and b.

Question:- An Annual Property Operating Data sheet (APOD), prepared by a seller's agent and handed to a prospective buyer provides operating information on the property, including:

Answer:- a) the estimated net operating income (NOI).

Question:- The use of ___________ still requires a written carryback disclosure to be delivered.

Answer:- a) a land sales contract

Question:- As a minimum requirement, the carryback disclosure statement is to be signed by the buyer and seller prior to:

Answer:- b) meeting each other's agents.