B4

Question 1

When listing a property for sale, what is required by the rules and regulations to appear on the face of the listing agreement?

Answer 1

Expiration date

Question 2

If a disagreement occurs between buyer and seller at the time of escrow closing, where do the parties turn to settle their disagreement?

Answer 2

Purchase contract

Question 3

The clothes washer is conveying with the home. During the buyer’s walkthrough, it was discovered that the washer was not in working order. The buyer informs the seller that the washer will need to be repaired, since it was in working order at time of contract. Which of the following is true?

Answer 3

The seller would be obligated to repair the washer

Question 4

A broker has a contract signed by the buyer and seller. Before the close of escrow the building is destroyed by fire. Which of the following is true regarding the commission?

Answer 4

No commission is payable.

Question 5

When two real estate licensees have a dispute that is handles outside the court this is?

Answer 5

Arbitration

Question 6

Compensatory damages would be the closest to

Answer 6

Actual damages.