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Question 1 of 10
1. Question
Choose a statement below that is not included in a real estate contract.
Correct
A list of terms used in real estate is not included in a contract for real estate sales since it only occurs when buying or during the sale exchange of a property and when conveying a real estate property.
Incorrect
A list of terms used in real estate is not included in a contract for real estate sales since it only occurs when buying or during the sale exchange of a property and when conveying a real estate property.
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Question 2 of 10
2. Question
Which statement best describes the title search?
Correct
A title that is free and clear of any mistakes should be evident in a proper search conducted. The title should clearly show that the property ownership has been transferred from the earlier owner to the now new seller, and no question should be raised about the owner of the property.
Incorrect
A title that is free and clear of any mistakes should be evident in a proper search conducted. The title should clearly show that the property ownership has been transferred from the earlier owner to the now new seller, and no question should be raised about the owner of the property.
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Question 3 of 10
3. Question
Under what circumstances does the seller's broker get a commission?
Correct
A commission is given when a potential buyer is conferred to the seller and the terms of the sales agreement have been reached.
Incorrect
A commission is given when a potential buyer is conferred to the seller and the terms of the sales agreement have been reached.
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Question 4 of 10
4. Question
Large corporations, especially those with meaningful space or needs for location, engage real estate people for various works except?
Correct
Companies that own several other companies in real estate have business plans that alternate each other. These companies have a lot of properties, and they need a person to sell them.
Incorrect
Companies that own several other companies in real estate have business plans that alternate each other. These companies have a lot of properties, and they need a person to sell them.
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Question 5 of 10
5. Question
Managers for the property have financial responsibilities with them except which one?
Correct
Real estate properties need to have a manager to ensure that specific tasks are carried out correctly. One of the roles they have is to ensure that the property yields the highest income possible and ensure that the property's value maintains, that it doesn't depreciate.
Incorrect
Real estate properties need to have a manager to ensure that specific tasks are carried out correctly. One of the roles they have is to ensure that the property yields the highest income possible and ensure that the property's value maintains, that it doesn't depreciate.
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Question 6 of 10
6. Question
Promotion of properties to tenants is regularly done; which of the following does not fit as a way to advertise?
Correct
When contented tenants recommend a building, it's a great way for promotion. The promotion of houses to tenants it's an obligation for the owners of the homes.
Incorrect
When contented tenants recommend a building, it's a great way for promotion. The promotion of houses to tenants it's an obligation for the owners of the homes.
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Question 7 of 10
7. Question
Which among the following is not a risk management choice according to CART?
Correct
CART is a structure/system used to regulate risks and govern possible liability affairs. It regulates, evades, maintains, and transfer risk.
Incorrect
CART is a structure/system used to regulate risks and govern possible liability affairs. It regulates, evades, maintains, and transfer risk.
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Question 8 of 10
8. Question
Below are types of insurance that are available to cover different types of risks. Show the type of insurance that is wrongly defined.
Correct
The surety bond caters to the failure of something happening at an agreed time frame. Mostly the surety bond covers for casualties caused by fraudulent workers. For instance, it caters to the loss resulting from a caretaker running away with the collected rent.
Incorrect
The surety bond caters to the failure of something happening at an agreed time frame. Mostly the surety bond covers for casualties caused by fraudulent workers. For instance, it caters to the loss resulting from a caretaker running away with the collected rent.
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Question 9 of 10
9. Question
In the agreement between the owner and the property manager, some items need to be discussed. Which of the following is not among the items?
Correct
The manager and the owner of the property have a particular relationship existing between them. Their relationship is settled on the agreement of property management. Some items need to be considered in their agreement, and they need to be unique.
Incorrect
The manager and the owner of the property have a particular relationship existing between them. Their relationship is settled on the agreement of property management. Some items need to be considered in their agreement, and they need to be unique.
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Question 10 of 10
10. Question
When the landlord and the property owner agree, what does the landlord demand to be included in the agreement?
Correct
The property manager should know that the property owner may demand long or short intervals profit in some instances. The property manager should know about that, regardless of understanding the goal of the property owner.
Incorrect
The property manager should know that the property owner may demand long or short intervals profit in some instances. The property manager should know about that, regardless of understanding the goal of the property owner.