PreLicensing Final Exam| Q & A, 100% verified| 2024
PreLicensing Final Exam| Q & A, 100%
verified| 2024
A broker advertises his listing as waterfront. The property has a great view of the
lake, but there is another lot located b/w the listed property & the lakeshore. The
listing agent may be guilty of
Willful
B. Misrepresentation
A broker engaging in property management is generally tasked by the property
owner with
C. Reinvesting profits to build the owner's investment portfolio
A broker is aware the public road in front of her listing is scheduled to be widened
to a 4-lane divided highway next year. The listing agent
C. Must volunteer the information to all prospective buyers
A broker is preparing a CMA for a subject property with 3200 sq ft. A comparable
property has 2750 sq ft. The estimated value of 450 additional sq ft is $22,500. The
broker should
D. add 22,500 to the sales price of the comparable property
A broker may be subject to disciplinary action by the Commission in which of the
following situations?
B. A broker helps a buyer-client complete an offer to purchase with many addenda
A broker obtains an exclusive right to sell listing for her company. What is the
agency relationship b/w the owner of the listing and all the brokers that work for
the company?
B. Seller Subagency
A buyer agent must disclose to the seller or the seller's agent that the broker
represents the buyer.
A. At the buyer agent's initial contact with the seller or seller's agent
A buyer has contracted to purchase a home for $275,000. The buyer paid $4,000
earnest money deposit and the sale will close on March 30. The buyer has already
received loan approval for an 80% loan-to-value conventional loan. The lender is
charging the borrower a 1% loan origination fee and 1/2 discount points. The
lender is requiring the borrower to deposit 7 months of real property taxes and 2
months of homeowner insurance premium into an escrow account at settlement.
The homeowner insurance premium for the first year is $864 and is to be paid at
settlement. Real property taxes for the year total $3635 and have not been paid for
the current year. For prorations, use a 30-day month/360-day year & assume the
seller owns the day of settlement. Additional closing expense for the buyer total
$1500. What is the net amount that the buyer will owe at settlement, rounded to the
nearest dollar?
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