Real Estate Quiz

Who is required to sign the Property Condition Disclosure Statement?

• Both the buyer and the seller

• Only the buyer

• The seller's agent

• Only the seller

Which of the following is NOT exempt from having to obtain a real estate salespersons or broker license to practice real estate?

• Real Estate Attorneys

• Government officials pertaining to real estate

• Court ordered officials

• Architects

Which of the following is a requirement for obtaining a real estate salespersons license?

• Must be able to read efficiently

• Must have a college diploma

• Must have at least 2 years of experience in the field of real estate

• Must be at least 18 years of age

Incapable of being recalled or revoked is also referred to as...?

• Irrevocable Consent

• Exemption

• Disclosure

• Escrow

An examination of a property's condition, usually performed in connection with the property's sale is known as a/an...?

• Architectural Review

• Home Inspection

• Appraisal

• Environmental Report

Abby is a high school teacher but wants to get her salesperson’s license in order to rent real estate during the summer months. Which of the following requirements must Abby satisfy in order to obtain her license...?

• She must be able to read efficiently

• She must have at least 2 years of experience in the field of real estate

• She must have a college diploma

• She must be proficient in the English language

Mark is a real estate salesperson but wants to obtain his real estate broker's license. Which of the following requirements must Mark satisfy in order to obtain his broker's license...?

• He must have a Masters degree in Real Estate Finance

• He must be at least 20 years of age

• He must have a college diploma

• He must have at least 5 years of experience in the field of real estate

Which of the following is NOT included on a real estate salesperson's pocket card...?

• Name

• Personal Address

• Business Address

• Photo

Which of the following is a requirement for obtaining a real estate salespersons license?

• Must be able to read efficiently

• Must have a college diploma

• Must have at least 2 years of experience in the field of real estate

• Must be proficient in the English language

Under the .................. arrangement, the listing broker and the selling broker split the commission for each sale.

• Net Listing

• Listing Agreement

• Listing Service

• Multiple Listing Service