State exam

What responsibility does a real estate licensee have regarding a property that was the site of a homicide, suicide or death?
If the licensee fails to disclose that information to a prospective buyer, the licensee is subject to a $300 fine
The licensee has no responsibility to disclose that information in a real estate transaction.
Which of the following is true in regards to subleasing?
It transfers all rights to a property
It transfers less than all rights to a property
Craig owns a condominium unit as a joint estate with his brother. Under what type of estate does craig have an ownership in the parking lot and tennis court?
Estate by the entireties
Estate in common
"Triggering terms" under the truth-in-lending Act include information regarding any of following, BUT which one?
The number of loans payments
The "easy monthly payments"
Each office that a real estate firm operates from must have a sign located where?
On or about the entrance to the office
On or about the entrance to the building
Visible from the street
As part of the appraisal process, a highest and best use analysis is performed on the property. What is the purpose of this analysis?
To determine the assessed value of the property
To determine whether the present use is the best use or if an alternative should be considered to maximize the value
A real estate licensee refuses to show properties to high-end neighborhoods to minority buyers. This licensee is engaged in which illegal practice?
Blockbusting
Steering
Redirecting
Redlining
All of the following activities are exempt from the requirement to provide disclosures under the brokerage relationship disclosure act, BUT
Responding to general factual questions from a potential buyer or seller concerning properties that have been advertised for sale
Showing property to a party that is not being represented.
A Georgia broker accompanies his prospects to Florida and shows them 3 homes. After finding a home they like, the Georgia broker finds a Florida broker to complete the transaction. The Georgia broker requested fifty percent of the commission as a share for assisting in the sale. Which of the following would be true in this circumstance?
If the Florida proper pays the Georgia Broker no laws would have been broken
If the Florida broker pays the Georgia broker both have violated CH 475
Which of the following best defines the mortgagee?
Lends the money
Gives the mortgage to the lender
Which statement best describes a short sale?
A real estate transaction that closes in under 30 days
A settlement agreement where the lender agrees to a sale price that is below the outstanding loan balance.
All of the following are characteristics of the real estate market, But which one?
Land is immobile
The market rapidly adjusts to changes in supply and demand.
Which brokerage relationship status includes a full fiduciary relationship?
Single agency
Transaction broker
Offers may be terminated by all of the following but:
Breach
Acceptance
A sales associate working as a residential property manager contacted the owner about prospective tenants and was asked if they were Hispanics. The salesperson tells the owner. "I am not supposed to discuss a potential tenant's minority status, but yes they are." The owner then says that there are no units available. Which is true regarding the situation?
The sales associates license may be suspended or revoked
This is unethical but legal behavior on the part of the sales associate.
With which type of warrant does the grantor of a deed promise that they will sign any documents in the future that would be necessary to maintain quiet title?
Warrant of seisin
Warrant of further assurance
A property description which reads in part "...run N 73* a distance of 26.8', thence run E a distance if 100.43'... Is being described by using which method of legal description?
Plat
Metes and bounds
Which secondary lender was originally created to purchase conventional loans that were originated by savings and loan associations?
Ginnie Mae
Freddie Mac
Fannie Mae
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