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Question 1 of 10
1. Question
There is an oral agreement to lease a property for one year at a rate of $500 per month. What agreement is it?
Correct
A lease that has not lasted longer than one year does not fall under the Statute of Frauds.
Incorrect
A lease that has not lasted longer than one year does not fall under the Statute of Frauds.
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Question 2 of 10
2. Question
Why does the landlord have the right to access the property?
Correct
The tenant has the right of “quiet enjoyment” and the landlord must offer advance notice of entry to the property.
Incorrect
The tenant has the right of “quiet enjoyment” and the landlord must offer advance notice of entry to the property.
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Question 3 of 10
3. Question
Which of the following statements about the assessment as a special form of appraisal is correct?
Correct
The assessors shall decide the valuation at which the land may be taxed.
Incorrect
The assessors shall decide the valuation at which the land may be taxed.
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Question 4 of 10
4. Question
A tenant is overdue with regard to his lease fees. The landlord has the ability to?
Correct
Landlord Tenant Act in most countries specifically points out unique court processes and precise deadlines.
Incorrect
Landlord Tenant Act in most countries specifically points out unique court processes and precise deadlines.
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Question 5 of 10
5. Question
The seller, ready to sell, advises the cooperating agent that the agent will obtain a riding lawnmower if he presents a suitable bid by the end of the week. In this case, all of the below are true except which one?
Correct
Salesmen can only obtain payments from their principal broker. Gifts of goods, the use of luxurious vehicles, vacations and excursions shall also be paid and can only be granted to a broker who disposes of them in compliance with company policy.
Incorrect
Salesmen can only obtain payments from their principal broker. Gifts of goods, the use of luxurious vehicles, vacations and excursions shall also be paid and can only be granted to a broker who disposes of them in compliance with company policy.
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Question 6 of 10
6. Question
The alienation provision contained in most security instruments specifies that the entire sum will be due and payable as soon as possible if?
Correct
The word “alienation” means the transfer of privileges. The lender retains the right to make a call in the Loan if the house is sold.
Incorrect
The word “alienation” means the transfer of privileges. The lender retains the right to make a call in the Loan if the house is sold.
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Question 7 of 10
7. Question
A broker can enter into a contract on behalf of his principal if?
Correct
The power of attorney authorizes the agent to execute those actions in place of the principal.
Incorrect
The power of attorney authorizes the agent to execute those actions in place of the principal.
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Question 8 of 10
8. Question
Although the broker employs a salesperson as an independent contractor, the broker is also responsible for?
Correct
The broker shall be responsible, according to the License Regulations, for the actions of any licensees associated with that company.
Incorrect
The broker shall be responsible, according to the License Regulations, for the actions of any licensees associated with that company.
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Question 9 of 10
9. Question
Although the doctrine of emptor caveat still exists in the majority of the states, many need that the seller shall make the written declaration of the latent, defects inside the property and disclose known concerns. The highest assurance to the Actor to stop accusations of falsehood about the property is recommended for?
Correct
Home inspection by a certified inspector, accompanied by a home warranty, is the strongest guarantee that the investigator will not be accused of hiding technical or physical issues in the house.
Incorrect
Home inspection by a certified inspector, accompanied by a home warranty, is the strongest guarantee that the investigator will not be accused of hiding technical or physical issues in the house.
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Question 10 of 10
10. Question
When explaining the specifics of a property, the agent does not disclose that a plan for Improvement of Capital has been authorized and a clear assessment to the owner in the immediate future would result in?
Correct
Regardless of the organization’s partnership, the agent must report all relevant information about the property or be charged with fraud. The seller has the same thing of obligation.
Incorrect
Regardless of the organization’s partnership, the agent must report all relevant information about the property or be charged with fraud. The seller has the same thing of obligation.