National Real Estate Exam: Pearson Vue Questions And Answers With Complete Solutions

A transaction facilitator in a residential transaction represents: A. the seller B. the buyer C. both seller and buyer D. neither seller nor buyer {Ans: neither seller nor buyer}A principal instructs an agent to inform minority buyers that the property for lease was just leased an hour ago and is no longer available. The agents refuses to comply. In this case, A. the agent should exercise caution until the listing expires, then decline to renew it B. the principal has proposed an illegal act, which should not be obeyed C. the agent is liable for breaching listing terms D. the agent may sue the principal for discrimination and misrepresentation {Ans: the principal has proposed an illegal act, which should not be obeyed}Which if the following must be in writing to be enforceable? A. a parol contract B. a six-month lease C. a two year lease D. an executory contract {Ans: a two year lease}What is the essential purpose of legal descriptions of property? A. to create a consistent, unchanging standard for uniquely locating a property B. to enable courts and attorneys to calculate property size accurately C. to comply with common law for Real property D. to