An optionor and an o - Study guides, Class notes & Summaries
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Real Estate Final Exam (150 Questions) #1 100% Correct Answers 2023
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Real Estate Final Exam (150 Questions) #1 100% 
Correct Answers 2023 
A real estate licensee has a buyer agency agreement. What is the seller in this 
situation? A customer. 
An optionor and an optionee make a contract for an option on a commercial piece of 
property. If the optionee decides to exercise his option, when must he perform? He 
must exercise his option under the terms of the option contract. 
When can a landlord evict a disabled blind or disabled tenant from the premises? If 
the te...
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Virginia Final Exam Questions with Correct Answers 2024
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Virginia Final Exam Questions with Correct 
Answers 2024 
A void contract is one that is 
A. not in writing. 
B. voidable by only one of the parties. 
C. rescindable by agreement. 
D. not legally enforceable. - answerD. not legally enforceable. In order to be enforceable, 
real estate contracts must meet the legal requirements for contracts in general. For example, a 
contract signed by a minor or a "seller" who doesn't own the property in question was never 
legal to begin with and is thus ...
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Real Estate Final Exam Questions With Complete Solutions Updated 2023-2024 O(GRADED 100%)
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Real Estate Final Exam Questions With Complete Solutions Updated O(GRADED 100%). An optionor and an optionee make a contract for an option on a commercial piece of property. If 
the optionee decides to exercise his option, when must he perform? He must exercise his 
option under the terms of the option contract. 
When can a landlord evict a disabled blind or disabled tenant from the premises? If the 
tenant has loud parties, makes too much noise, and is constantly disturbing other tenants 
4. B...
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Kentucky Real Estate Mock Test 1 Questions With Correct Answers
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If a broker's branch office is 75 miles from his main office, the person managing this branch office must: - Answer Have been licensed for 2 years averaging 20 hours per week in the business. 
 
Which of the following is NOT true regarding a sale-leaseback? - Answer The ownership of the property never transfers. 
 
Dino owns property rights located on Lake Michigan where he docks his yacht. His water rights are called: - Answer Littoral rights 
 
Which of the following is NOT a duty of the real...
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National Real Estate Exam Q&A with Complete Solutions RATED A
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National Real Estate Exam Q&A with Complete Solutions RATED A 
 
Contract containing ONE promise given in exchange for completing an act. NO obligation to act. -ANS- Unilateral Contract 
 
Contract containing TWO promises. Example: A listing agreement is a bilateral contract -ANS- Bilateral Contract 
 
A person who has entered into an agency relationship w/ a licensee & with whom there is a written contract -ANS- Client/Principal 
 
Any 3rd party w/ whom a licensee works -ANS- Customer 
 
Transa...
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Massachusetts Real Estate Salesperson License Correct 100%
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RE Salesperson License requirements? - Answer 18 years old, 40 hour class, pass the exam, must affiliate with a broker to practice and may not accept direct client payments 
 
Broker's License requirements? - Answer 3 years salesperson experience, 40 hour class, pass the exam, $5,000 bond and pay a fee. 
 
What is MLS? - Answer Multiple Listing Service. It's a marketing tool used by Salespeople to show their listings. 
 
Difference between RE Salesperson and RE Broker? - Answer Salesperson wor...
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National Real Estate Exam Prep Verified 100% Correct!!
- Exam (elaborations) • 8 pages • 2022
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Unilateral Contract 
Contract containing ONE promise given in exchange for completing an act. NO obligation to act. 
 
 
 
Bilateral Contract 
Contract containing TWO promises. Example: A listing agreement is a bilateral contract 
 
 
 
Client/Principal 
A person who has entered into an agency relationship w/ a licensee & with whom there is a written contract 
 
 
 
Customer 
Any 3rd party w/ whom a licensee works 
 
 
 
In-Company Transaction 
Transaction in which the buyer and seller are both ...
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National Real Estate Exam Prep, Questions with accurate answers, Rated A.
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National Real Estate Exam Prep, Questions with accurate answers, Rated A. 
Document Content and Description Below 
National Real Estate Exam Prep, Questions with accurate answers, Rated A. Unilateral Contract - Contract containing ONE promise given in exchange for completing an act. NO obligation to act . Bilateral Contract - Contract containing TWO promises. Example: A listing agreement is a bilateral contract Client/Principal - A person who has entered into an agency relationship w/ a licensee...
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National Real Estate Exam Prep Questions and Answers Graded A
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National Real Estate Exam Prep Questions and Answers Graded A Unilateral Contract Contract containing ONE promise given in exchange for completing an act. NO obligation to act. 
Bilateral Contract Contract containing TWO promises. Example: A listing agreement is a bilateral contract 
Client/Principal A person who has entered into an agency relationship w/ a licensee & with whom there is a written contract 
Customer Any 3rd party w/ whom a licensee works 
In-Company Transaction Transaction in whi...
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National Real Estate Exam Prep Already Graded A+
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Unilateral Contract 
Contract containing ONE promise given in exchange for completing an act. NO obligation to act. 
 
 
 
Bilateral Contract 
Contract containing TWO promises. Example: A listing agreement is a bilateral contract 
 
 
 
Client/Principal 
A person who has entered into an agency relationship w/ a licensee & with whom there is a written contract 
 
 
 
Customer 
Any 3rd party w/ whom a licensee works 
 
 
 
In-Company Transaction 
Transaction in which the buyer and seller are both ...
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