Real Estate Exam 136 Questions And Answers Graded A+ Q & A

Which clause in a deed states the interest that is being conveyed? {Ans: Habendum}Which of the following establishes the time period for the enforcement of a contract? {Ans: Statute of Limitations}A real estate licensee attempts to induce sellers to list and sell their properties by starting rumors that minorities are taking over a neighborhood. What could this licensee be charged with? {Ans: Blockbusting}Six individuals decide to form a real estate brokerage partnership. All six individuals are planning to be active in real estate sales. Which statement best applies? {Ans: The partnership must be registered with the Department, and all six partners must be active real estate brokers.}Which of the following best describes a tenancy at will? {Ans: A lease which can be terminated at the will of the landlord or tenant by giving legal notice}If a security deposit is held by a landlord, what is the landlord required to do? {Ans: Return the funds within 15 after the tenet vacates the premise or give notice within 30 days of the intention to impose a claim against the security deposit by certified mail}What must a sales associate do upon receiving an earnest money deposit?