National Practice Exam Missed Questions

Joaquin sold his house for $327,600. He bought it several years ago for $139,900 with a $100,000 loan. The loan balance when he sold it was $73,400. What was Joaquin's equity? $114,300 $187,700 $214,300 $254,200

$254,200 ($327,600 - $73,400).

A buyer has a 30-year, $750,000 loan with a 5.75% interest rate. How much of the first monthly payment is interest? $10,869.57 $3,500.93 $3,593.75 $3,750.27

$3,593.75 ($750,000 x .0575 = $43,125;. Then find the monthly rate by dividing $43,125 by 12 to get $3,593.75)

Jackie was sued in civil court by one of her creditors. As a result of the judgment against her, her house, car, and art collection are all subject to sale in order to pay the creditor. What type of lien is this? General Special assessment Vendor's Voluntary

General

Which of the following is an acceptable ad based on Regulation Z? Get a low interest rate of 4.75% (4.925% APR) with as little as 10% down payment and a 30-year fixed rate with no points. Get a low interest rate of 4.75% on a monthly payment of $900. Get a low interest rate of 4.75%, with 85% loan to value. Get a low interest rate of 4.75% with as little as 3% down.

Get a low interest rate of 4.75% (4.925% APR) with as little as 10% down payment and a 30-year fixed rate with no points.

Stella owns a building in an area of town that's being revitalized. Local property owners believe property values will increase considerably over the next 10 years. Stella wants to entice long-term tenants with a low initial rent but have the flexibility to increase rent as her property's value increase. What type of lease should she consider? Graduated Gross Net Percentage

Graduated

Fred is an agricultural lender who helps the ranchers and farmers in his community by providing credit for purchasing land, making repairs to their buildings, and improving their agricultural property. He's able to do this in part because of the ______ offered by the USDA Farm Service Agency. Capital Grants Guaranteed loans Secondary market for agricultural loans

Guaranteed loans

Jason's having trouble paying his monthly rent. His landlord agrees to float him the rent for the next few months with 20% interest. The deal with his landlord is in violation of the state's usury law. Which of these statements must be true? Consumers are not supposed to be charged interest on a personal loan. His state's personal loan interest rate cap is less than 20%. His state's personal loan interest rate cap is more than 20%. Landlords loaning tenants money is a violation of usury law.

His state's personal loan interest rate cap is less than 20%.

Thad received multiple offers on his property and is reviewing them with his agent Nora. All of the offers have at least one contingency. Nora recommends that they reject the second offer, because it has a ________ contingency which is generally the most risky. Appraisal Financing Home sale Inspection

Home sale

Your clients want to include multiple contingencies in their offer. If you know it's a competitive bidding situation, you say, ______. "Contingencies kill deals." "Great idea. This will help our offer stand out." "Let's evaluate which contingencies matter most to you and consider omitting the rest." "To be competitive, you should remove all contingencies."

"Let's evaluate which contingencies matter most to you and consider omitting the rest."

You're on a planning board that's discussing how to keep the city more livable by reducing building density. The subject of bulk zoning comes up. What is your response? "That applies to commercial areas only." "That's a great way to meet our objectives." "That's crazy. We're trying to reduce density, not increase it." "That will work for residential areas, but what about commercial?"

"That's a great way to meet our objectives."

Nico is buying a home for $625,000. His earnest money deposit is 8%. He wants to avoid private mortgage insurance (PMI) on his conventional loan, and he owes 5% in closing costs. How much money should he bring to closing? $106,250 $156,250 $31,250 $81,250

$106,250 (Conventional loans often require 20% down to avoid PMI ($125,000)

Alluvion describes new deposits of land that are the result of what natural process? Accretion Erosion Exclusion Reliction

Accretion

Rennie owns a 240-foot by 130-foot lot. How do you calculate the perimeter? Add the length and width and divide by two. Add two times the length to two times the width. Multiply 240 by 130. Multiply 240 by 130, then multiply by two.

Add two times the length to two times the width.

Citytown officials know that they have an abandoned factory site that has been identified for cleanup under CERCLA. When city officials tried to trace the ownership of the property, they found several shell corporations but can't determine which individual or corporate entity actually owns the property. What is a likely outcome of this situation? Citytown will apply to the CERCLA trust fund for cleanup costs. Citytown will bill the EPA for cleanup costs. Citytown will end up paying for cleanup. The factory site won't be cleaned up and will sit empty.

Citytown will apply to the CERCLA trust fund for cleanup costs.

A deed states, "For love and affection, the receipt and sufficiency of which is hereby acknowledged." What does this statement represent in the deed? Consideration Granting clause Habendum clause Subject to clause

Consideration

Which of these items around the fireplace could be a clue that there is a problem? Ash and soot in the firebox Cracked or sloping firebox or hearth Hole in the soffit Missing mantle

Cracked or sloping firebox or hearth

Kurt bought a vacant lot in a development that was 85% completed. When he started working with the builder to lay out where the house and driveway would be, they found he would need an easement because his driveway would spill over onto the adjacent lot by a few feet. Kurt owns the _______ estate or tenement. Dominant Gross Prescriptive Servient

Dominant

Eloise is interested in buying a bungalow on the outskirts of the city. Her agent is reviewing the property details and informs her that there are several easements on the property. In particular, the gas company has a right of way because the natural gas line for the neighborhood runs through the back of the lot. What type of easement would this be? Easement appurtenant Easement by necessity Easement by prescription Easement in gross

Easement in gross

Janice wants to sell her townhome, and her neighbor is considering buying it. While waiting to find out if her neighbor is going to buy, Janice wants to market her home. In order to receive the best possible representation but avoid paying a commission if her neighbor decides to buy the property, which type of listing agreement best suits Janice's needs? Exclusive agency Exclusive right to sell Net Open

Exclusive agency

The Swansons left the family property to their son, Jason, with the stipulation that he does not build on it. The type of estate Jason holds is ______. Fee simple absolute Fee simple defeasible Leasehold Qualified lease

Fee simple defeasible

Stu is buying Freddie's property. What must occur for the transfer of title to take place? Freddie and Stu must sign the deed. Freddie must intend to convey the property to Stu. Stu must convey the deed. Stu must sign the deed.

Freddie must intend to convey the property to Stu.

Rogers has been given power-of-attorney over his sister's affairs while she's out of the country in case someone needs to take care of personal or business affairs and she's out of contact. What kind of POA does Rogers likely have? Broad General Restricted Special

General

Prior to the ______, there was no legal protection for women who endured sexual harassment from landlords and sellers when they attempted to obtain housing. Civil Rights Act of 1866 Fair Housing Amendments Act of 1988 Federal Fair Housing Act of 1968 Housing and Community Development Act of 1974

Housing and Community Development Act of 1974

What does a balloon payment represent at the end of a loan term? It means that some principal remains at the end of the loan term. It means that the loan has been fully amortized. It refers to the entire principal due over the course of the loan. It refers to the lump sum of the total amount of interest due on the loan.

It means that some principal remains at the end of the loan term.

Which of the following is the price a lender believes the property will bring at a foreclosure sale? Insured value Investment value Mortgage value Value in use

Mortgage value

Which of these terms can be defined as what a buyer has paid for a property and what the seller has accepted? Appraisal Cost Price Value

Price

What's the best definition of real property? Artificial attachments to land that include things such as fencing, buildings, and walkways Earth, soil, and air Land, plus all things permanently attached to it naturally or artificially Real estate, plus all of the interests, benefits, and rights included in ownership

Real estate, plus all of the interests, benefits, and rights included in ownership

Which legal description method is regulated by the U.S. Department of the Interior's Bureau of Land Management? Governmental Lot and block Metes and bounds Rectangular government survey

Rectangular government survey

Which of these statements about the homeowner's rights of redemption is true? Homeowner right of redemption applies to foreclosures, short sales, and REOs. Only foreclosures are subject to homeowner's redemption rights. Right of redemption timelines are longer for foreclosures than they are for short sales. Rights of redemption with REOs may be less of a problem than with other distressed properties

Rights of redemption with REOs may be less of a problem than with other distressed properties

Tres owns a warehouse in an area that is zoned light industrial. With an increased demand for housing in the area, Tres wants to create loft-style condos and have his property designated as residential, even though the surrounding buildings will remain light industrial. What type of zoning is this? Aesthetic zoning Downzoning Incentive zoning Spot zoning

Spot zoning

The appraisal report submitted to Jenkins, the lender, notes that the property is being conveyed with all property rights intact. Which step in the appraisal process does this represent? Determine highest and best use. Estimate the land value. Gather and analyze data. State the problem.

State the problem.

Jerry and Simon signed a contract so that Jerry could purchase all of Simon's restaurant equipment for one price after Simon closes his restaurant next month. The contract contains a provision that states Jerry has one year from the purchase date to file a suit relative to the purchase. After the year is up, Jerry forfeits the right. What kind of contract clause is this? Specific time Statute of limitations Time is of the essence Time of performance

Statute of limitations

The economic principle of ______ says that when there are two houses in the same neighborhood with the same size, appeal, and utility, the lower-priced one will tend to sell first. Correlation Substitution Supply and demand Under-bidding

Substitution

Marlon and Leah are interested in buying a home in a new homeowner opportunity area. The 100-year-old row house was renovated and is like new on the inside. The property taxes decreased by more than $5,000 last year. What's the likely reason for this? Introductory rates Seller error Tax abatement Tax reassessment

Tax abatement

Trinity has applied for a home equity line of credit (HELOC) to perform some upgrades on her home. Within what timeframe must her lender provide the Closing Disclosure? At closing The CD isn't required for a HELOC. Three days before closing Three days from her loan application date

The CD isn't required for a HELOC.

A landlord with a strict "no pets" policy won't rent to a woman who uses a service animal to assist with her epilepsy. Which of the following is a true statement about this situation? This is discrimination based on disability. This is discrimination based on familial status. This isn't discriminatory because service animals are restricted to the vision-impaired. This isn't discriminatory if the "no pets" policy is universally applied.

This is discrimination based on disability.

Which of the following is a typical accrued adjustment? Heating oil in the tank Prepaid taxes Unpaid real estate taxes Utilities billed and paid in advance

Unpaid real estate taxes

What's a good policy that a buyer's agent should employ regarding contingencies? Avoid contingencies because they tend to put sellers off. Maximize the number of contingencies allowed. Use a standard set of contingencies with each buyer to avoid missing any. Use contingencies judiciously to protect the clients and the deal.

Use contingencies judiciously to protect the clients and the deal.

Unauthorized practice of law and acting outside the scope of one's expertise are similar issues. Which of the following circumstances specifically relates to the unauthorized practice of law? Predicting a specific tax increase or decrease Predicting the return on investment for a rental property Recommending specific investments Writing contract addenda or additional provisions that cover unfamiliar circumstances

Writing contract addenda or additional provisions that cover unfamiliar circumstances

What type of police power allows cities to identify specific uses for an area? Condemnation Eminent domain Escheat Zoning

Zoning

Will was sued for damages related to a car accident in which he was involved last year. As part of the proceedings, the court placed a lien against his primary residence. What type of lien is this? Attachment General Mechanic's Voluntary

Attachment

When agents put their clients' interests ahead of their own, this describes the duty of ______. Accounting Loyalty Obedience Reasonable skill and care

Loyalty

Home inspector Maura was walking Thad through a property inspection. The frame house, on a slab foundation, had mulch piled up about 18 inches next to the house. Why was Maura noting this as a concern? Mulch is a great nesting material for insects. Mulch isn't a sustainable material. Mulch next to wood siding may lead to wood rot. That amount of mulch might kill the plants it's meant to protect.

Mulch next to wood siding may lead to wood rot.

The best way to start comparative market analysis data collection is to use properties that sold in the last ______. 12 to 18 months 18 to 24 months Three to six months Two to three years

Three to six months

In contract law, undue influence differs from duress in that duress includes ______. Deception Fraud Trickery Use or threat of force

Use or threat of force

John and Amy purchased a builder's home warranty when they bought their home. They have found structural damage that could be a detriment to their home. On average, how many years does a home warranty cover structural damage? 10 years Five years One year Three years

10 years

How many acres are in a parcel described as, "The S 1/2 NW 1/4 Section 3, Township 4N, Range 2W of the 6th PM"? 160 20 40 80

80 (A quarter section is 160 acres. Half of that is 80 acres.)

After getting into a fender bender, Parker had to buy a new car. To make the down payment on the car, he had to skip a couple of his mortgage payments. He received a notice from his lender indicating the remaining amount of his loan is due immediately and in full. What clause in his mortgage stipulates this? Acceleration Alienation Defeasance Due-on-sale

Acceleration

The appraisal on Jean's property came in at $22,000 less than the agreed-upon sales price, so the buyer, Thomas, wants to renegotiate the terms. If they can come up with a new price that is satisfactory to both parties, what will they use to document this? Addendum Amendment Annotation Appendix

Amendment

Which of the following statements regarding reasonable accommodations and modifications is true? A landlord can freely question disabled individuals about their disability. An individual can make a request for accommodation or modification at any time. A property owner must always complete modification requests. The property owner is always responsible for paying for any reasonable modifications that are completed on the property.

An individual can make a request for accommodation or modification at any time.

Assuming that dual agency is legal where these scenarios occur, and the licensees' brokerages permit it, which of these situations demonstrates illegal dual agency? At an open house Tom is holding for his client, Rod, a buyer says she wants to make an offer. She details her situation; Tom waits until she finishes and then suggests that she offer a non-refundable earnest money deposit to strengthen her offer. Jarrod represents the seller, Juan. A buyer, Alaina, approaches Jarrod about representing her in the purchase of Juan's house. Jarrod obtains Juan and Alaina's consent to dual agency. Kady's firm uses representation agreements that, when signed, provide consent to dual licensee dual agency. Kady's buyer makes an offer on one of Kady's colleague's listings. Levi's customer, Renee, wants to make an offer on Levi's seller client's home. Levi presents Renee's offer to his client.

At an open house Tom is holding for his client, Rod, a buyer says she wants to make an offer. She details her situation; Tom waits until she finishes and then suggests that she offer a non-refundable earnest money deposit to strengthen her offer.

Lowell used to own 17 acres of property on the bay. After last year's hurricanes, Lowell now owns 15.5 acres of bayfront property. Which natural process was responsible for Lowell's loss of acreage? Accretion Avulsion Erasure Reliction

Avulsion

Which act was the first to prohibit any exceptions for discrimination based on race or color? Civil Rights Act of 1866 Fair Housing Amendments Act of 1988 Federal Fair Housing Act of 1968 Housing for Older Persons Act of 1995

Civil Rights Act of 1866

Which of the following is true about ownership or title to a property? Constructive notice to the public of real property ownership occurs when the deed is recorded. The last to record has priority. The seller is responsible for paying for owner's and lender's title insurance. Title isn't finalized until the deed has been recorded.

Constructive notice to the public of real property ownership occurs when the deed is recorded.

Which one of these is an example of the doctrine of estoppel? Corrie shows Marvin several properties and prepares CMAs for each. She assists him in making an offer on one. He becomes difficult to work with, and she then says she's not his agent because they don't have a signed agency agreement. Josie represents Carmine in his search for a rural property. Josie shows Carmine a property that's perfect, but she never hears from Carmine again. She then discovers that Carmine bought the property directly from the seller. Roark tells all his buddies at coffee that he's getting $600 a month rent out of his old barn. His best friend just shakes his head, knowing that Roark is only getting half that amount. Tonya tells Kinsey that she's a licensed agent and proceeds to represent Kinsey as a buyer's agent. Kinsey later discovers that Tonya isn't licensed.

Corrie shows Marvin several properties and prepares CMAs for each. She assists him in making an offer on one. He becomes difficult to work with, and she then says she's not his agent because they don't have a signed agency agreement.

Darren wants to set up a land trust so that his children can benefit from his real estate investments after he dies. He asked his financial advisor Tom to manage the trust, and Tom agreed. How is the trust created? Darren conveys the real estate to Tom. Darren dies. Darren purchases the real estate. Tom distributes income from the real estate investments.

Darren conveys the real estate to Tom.

Which agency enforces Title II under the Americans with Disabilities Act of 1990, when it relates to state and local public housing, housing assistance, and housing referrals? Department of Civil Rights Department of Equal Opportunity Department of Housing and Community Development Department of Housing and Urban Development

Department of Housing and Urban Development

What's one benefit of a rural development loan? It doesn't have to be repaid. It includes marketing assistance for farmers. Its optional longer term means a lower monthly payment. Its optional shorter term means a quicker payoff.

Its optional longer term means a lower monthly payment.

The primary purpose of the Real Estate Settlement Procedures Act is to ensure that buyers ______. Can get federally guaranteed loans Get favorable interest rates Have mortgage options to choose from Know all settlement costs up front

Know all settlement costs up front

Which one of the following statements is true about land trusts? A beneficiary's interest in the land must be conveyed through a deed. Land trusts generally continue for a specified term, such as 10, 20, or 30 years. The identity of the trust owner is made public. The person who establishes the trust (the trustor) is rarely the beneficiary.

Land trusts generally continue for a specified term, such as 10, 20, or 30 years.

Which of these is the best definition of real estate? Everything that's not real property Land, plus all things permanently attached to it naturally or artificially Real property, plus all of the interests, benefits, and rights included in ownership The earth's surface extending downward to the center of the earth and upward to infinity, including permanently attached natural objects

Land, plus all things permanently attached to it naturally or artificially

Under the statute of ______, if legal remedy is sought against a person, the pursuer must bring a court action within a specified period of time. Efficiency Fairness Limitations Timeliness

Limitations

Which of the following strategies would help to make a 'Choose Your Neighbor' marketing letter non-discriminatory in its effect? Ensuring that the letter was given to neighbors on both sides of the street Giving the letter to at least 20 neighbors Listing the property on the MLS Providing the letter in multiple languages for non-English speakers

Listing the property on the MLS

Lyle is a developer who placed a number of restrictions on the Happy Valley subdivision when he built it in 2003. Sara bought a home in Happy Valley in 2009 and was surprised to learn that storage sheds weren't allowed. Now Sara has noticed that sheds are popping up here and there throughout the neighborhood, and she puts up a shed of her own feeling no concern about a penalty. Which of the following is most likely to be true? Lyle set up the restriction to expire after a certain number of years. The homeowners have all applied for waivers to the existing restrictive covenant. The homeowners so desperately need storage that they're willing to face fines or legal action. The sheds are made of a new material that hadn't been invented or prohibited in 2003

Lyle set up the restriction to expire after a certain number of years.

Which clause in the listing agreement gives the listing broker the authority and obligates the broker to market the property to other brokers? Broadcast clause Marketing clause Multiple listing clause Provisionary clause

Multiple listing clause

Which agency is charged with enforcing fair housing laws and holding all parties accountable for compliance with these laws and regulations? Office of Civil Rights Office of Equal Credit Opportunity Office of Fair Housing and Equal Opportunity Office of Housing and Community Development

Office of Fair Housing and Equal Opportunity

Patsy's home has been on the market for five weeks. Currently, two brokers have buyers getting ready to make offers. If Patsy accepts one of those offers, the corresponding broker will be the only one to earn a commission. What type of listing does Patsy have? Exclusive agency Exclusive right to sell Net listing Open listing

Open listing

According to the U.S. Department of Justice, which type of antitrust violation is an agreement between competitors to set contract terms for a certain length of time? Group boycotting Market allocation Price fixing Tie-in arrangement

Price fixing

What's a typical prepaid item that will go into a seller's credit column and a buyer's debit column on a closing statement? Broker fees Loan fees Property taxes Recording fees

Property taxes

Sam is an independent contractor licensee working for B & L Realty. Since Sam is an independent contractor, what supervisory responsibility does Sam's broker have? Sam is considered an employee for licensing law purposes, but he's still an independent contractor for IRS purposes. Sam may elect whether or not to accept supervisory action from his broker. The IRS makes an exception for licensed independent contractors and allows Sam's supervisor to supervise Sam as he would any other employee. To maintain Sam's independent contractor status, the broker is prohibited from supervising Sam.

Sam is considered an employee for licensing law purposes, but he's still an independent contractor for IRS purposes.

Which of these is NOT an example of a group boycott? Acme Realty offers discounted services. Berringer Realty and Hawthorne Real Estate Group decide not to show any of Acme's listings and to prohibit showings to Acme buyers so they can drive Acme out of business. Deb, a licensee, is unhappy with the marketing materials a local company produced. She shares her concerns with Irving, a colleague, and they agree to avoid doing business with this company—and to share the news with other colleagues. Sean and the associated brokers in his firm agree to purchase their marketing materials from a single supplier so they get a quantity discount. Several brokerages in a certain area agree to stop running advertisements in a local publication.

Sean and the associated brokers in his firm agree to purchase their marketing materials from a single supplier so they get a quantity discount.

Sheldon and Jean retired and bought a townhome in a community about 30 minutes from their children and grandchildren. They're excited about their new living situation because Sheldon's arthritis is getting worse and he'll no longer have to handle ________. Cleaning the townhouse Parking their cars Shoveling snow Washing windows

Shoveling snow

If the private individual owner doesn't own more than three single-family homes at one time, which exemption from the Fair Housing Act could apply? Housing designated for senior use "Mrs. Murphy" exemption Owner-occupied buildings with no more than four units Single-family housing sold or rented without the use of a broker

Single-family housing sold or rented without the use of a broker

Which of these tasks is a licensee required to perform based on her fiduciary duties? Indemnify her seller client from damages from failing to disclose a material defect. Provide advice to her clients regarding how to take title to their property. Reimburse her state's recovery fund for damages paid out on her behalf. Tell parties to the transaction that she's a licensee when she's buying a property for herself.

Tell parties to the transaction that she's a licensee when she's buying a property for herself.

In which form of co-ownership is a person's ownership inheritable? Joint tenancy Tenancy by the entirety Tenancy in common Tenancy in severalty

Tenancy in common

Which one of the following types of ownership termination allows each tenant to have a specific, divided portion (partition) of the property exclusively? Termination by division Termination of co-ownership by partition Termination of estate in severalty Termination of joint tenancies

Termination of co-ownership by partition

What title guarantees will Jody have if her property is deeded to her after a foreclosure? The covenant against encumbrances The covenant of further assurances The covenant of quiet enjoyment The covenant of seisin

The covenant of seisin

When a licensee is working with a property located near a Superfund site, what does that mean? A portion of the sale price must go to the EPA to fund clean-up of the site. The licensee is required to disclose potential health threats to anyone in the area when showing the property. The licensee must disclose the existence of an environmental hazard in the area. The property cannot be sold until the site is removed from the NPL.

The licensee must disclose the existence of an environmental hazard in the area.

Which of these guarantees is offered by a general warranty deed but not a special warranty deed? The property is free of debt or other claims taken on by the grantor during the ownership period. The seller is legally allowed to sell the property. The seller owns the property (title). The seller will defend against all claims against the property's title.

The seller will defend against all claims against the property's title.

Which of these situations is addressed by the fiduciary duty of disclosure? The buyer fails to disclose to the seller his need to close on the property quickly. The buyer's home inspector refuses to share the inspection report with the seller. The seller refuses to complete a property disclosure form. The seller's agent fails to disclose a conflict of interest.

The seller's agent fails to disclose a conflict of interest.

Tom and Jim are neighbors. Jim wants to buy Tom's rental property. In the contract they sign, Jim is identified only as "the neighbor." Which statute or contract element does this violate? Legal purpose Offer and acceptance The law of contracts The statute of frauds

The statute of frauds

Why would buyers want to know whether a property is currently experiencing a tax abatement? Buyers don't want to know whether a property is experiencing a tax abatement. The current tax amount will be indicative of future years' taxes. Their taxes are likely to increase when the abatement period ends. Their taxes will go down when the abatement period ends.

Their taxes are likely to increase when the abatement period ends.

In which of these situations would the property most likely be conveyed with a trustee's deed? Karla is the executor of her father's estate and is selling his farm. Marvin and Tricia are selling their house. Tim's property will be sold at auction in a foreclosure action. TLC Lending is selling an REO property.

Tim's property will be sold at auction in a foreclosure action.

Vicky and Lee vacation in Cancun, Mexico, every year. They purchased the right to stay in a beach condo for the first two weeks in May, and their agreement continues for the next 10 years. They don't actually own the unit. What did they purchase? Condo estate Cooperative unit Timeshare estate Timeshare use

Timeshare use

What's the purpose of the fixed/adjustable rate note? To convert the interest rate from adjustable to fixed To convert the interest rate from fixed to adjustable To convert the loan from a fixed rate to an adjustable rate To convert the loan from an adjustable rate to a fixed rate

To convert the interest rate from fixed to adjustable

When using the sales comparison approach to value a property, all of these are categories of adjustments except _______. Financing terms and cash equivalency Location Market conditions Types of obsolescence

Types of obsolescence

The ______ can offer direct loans to farmers and ranchers. The loans are funded by congressional appropriation. American Agricultural Lending Service Farm Credit System USDA Farm Service Agency USDA Rural Development Program

USDA Farm Service Agency

Which of these professional activities is NOT covered by the Fair Housing Act? Jonah's real estate firm provides single-agency brokerage services to clients. Marsha, a landlord, owns several multi-unit buildings and rents one or more units daily. Michael is in charge of marketing for his real estate brokerage firm. Vickie's staging company works with investor clients to stage vacant properties.

Vickie's staging company works with investor clients to stage vacant properties.

Kennedy tends to be rather informal about her real estate business. Her daughter's teacher, Matthew, tells Kennedy that he'd like her help selling his house. Kennedy agrees and tells Matthew she'll perform all the tasks she'd perform for any listing, though she has no written agency agreement with Matthew. Do Matthew and Kennedy have a legal agreement? No. There's no signed agreement. No. Verbal agreements are illegal. Yes. Express agreements may be verbal or written. Yes. They have a verbal implied agreement.

Yes. Express agreements may be verbal or written.

Steve is preparing a market analysis for the Joneses and has selected three comparable properties. What's the maximum number of adjustments Steve should make to the Joneses' property? One Three Two Zero

Zero