Question

 

41. Broker Sandra accepted a listing for a home. A week later the owner told her that he was not willing to sell to an African-American person or family. Which of the following is true?

1. Sandra should abide by the owner’s wishes

2. She should restrict her advertising to venues that cater to the African-American community

3. Sandra should explain to the owner that the request is in violation of Fair Housing law and she cannot abide by it

4. She should have the owner document the request in writing and file it with the listing agreement

42. What is the definition of a principal?

1. A broker who owns a real estate firm

2. A person who delegates another to act on his or her behalf through an agency relationship

3. Someone who buys a property directly from an owner with no representation

4. A person who expects loyalty and accounting from the person who purchases the property

43. Which of the following is a negative effect of asbestos?

1. Intestinal disease

2. Arthritis

3. Lung disease

4. Skin disease

44. An agent owes all but which of these to his or her client?

1. Honesty

2. Funds accounting

3. Advertising

4. Skill

45. A county or municipal authority usually grants a certificate of occupancy for new construction only after what happens?

1. All contractors have been paid for services

2. All work has been completed for at least thirty days

3. The construction complies with building codes

4. The tax assessor has valued the improvement

46. Seller Patsy wants to net $150,000 from the sale of her home. She tells Broker Al that he can list the property for whatever price he wants and anything he gets above the $150,000 he can keep as his commission. What is this agreement called?

1. Exclusive agency

2. Open listing

3. Exclusive authorization and right to sell agreement

4. Net listing

47. What is the primary danger of allowing an enroachment?

1. An enrichment automatically grants the benefiting party an easement.

2. The encroached property may be liable for additional real estate taxes to cover the area being enroached upon by the neighboring property

3. Over time, the enrichment may become an easement by prescription that damages the property’s market value

4. An enroachment creates a lien

48. Greg’s landlord pays all the property charges and Greg pays only the rent. What kind of lease does Greg have?  

1. Gross lease

2. Net lease

3. Percentage lease

4. Ground lease

49. What do we call an assessment of how well a property does the job it is supposed to do?

1. Functional obsolescence

2. Physical durability

3. Functional efficiency

4. Physical effectiveness

50. All of the following factors will affect the market rent on an office building except which one?

1. Vacancy of similar properties in the area

2. Median income of families in the building’s location

3. Local demand for office properties in the area

4. The employment rate of companies operating in the area

Answer 1

41. Sandra should explain to the owner that the request is in violation of Fair Housing law and she cannot abide by it

42. A person who delegates another to act on his or her behalf through an agency relationship

43. Lung disease

44. Advertising

45. The construction complies with building codes

46. Net listing

47. Over time, the encroachment may become an easement by prescription that damages the properties market value

48. Gross lease

49. Functional efficiency

50. The employment rate of companies operating in the area