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Perry Real Estate College Final Exam Newest 2025 Actual Exam Complete Questions And Correct Answers(Verified Answers)|Already Graded A+
The Commission can conduct an emergency hearing for -Any allegation -Allegations of gross negligence -alleged escrow account violations -alleged advertising violations - ANSWER-alleged escrow account violations
A trust is a legal arrangement in which property is held for the benefit of a third party by a(n) -attorney in fact -trustee -trustor -beneficiary - ANSWER-trustee
a bilateral contract is one in which 1 / 4
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-the promise of one party is given in exchange for the promise of the other party -something is to be done by one party only -only one of the parties is obligated to act -a restriction is placed in the contract by one party to limit the performance by the other - ANSWER-the promise of one party is given in exchange for the promise of the other party
When the supply of a commodity decreases while demand remains the same, -demand tends to rise -demand tends to drop -price tends to drop -price tends to rise - ANSWER-price tends to rise
As provided in a valid purchase contract, the real estate transaction must be closed. Closing requires all of the following
EXCEPT
-that the seller deliver the deed to the purchaser -that the broker be present to receive any commission -the purchaser pay the balance of the purchase price to the seller 2 / 4
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-that the seller clear the title so that the condition of the title complies with the terms of the contract - ANSWER-that the broker be present to receive any commission
A portion of Walter's building was inadvertently built on George's land. this caused an -accretion -avulsion -encroachment -easement - ANSWER-encroachment
if the Commission seeks injunctive relief, the case must be filed where?-In the county where the Commission is located -In the county where the unlawful activity took place -either of the above
-none of the above - ANSWER-Either of the above: in the
county where the Commission is located or in the county where the unlawful activity took place
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A small office building sold for $949,000 and the broker received a commission of $54,990. What was the broker's commission rate?-7% -6.2%
-11.3%
-5.8% - ANSWER-5.8%
A lease should contain all of the following provisions EXCEPT -possession of the premises -use of the premises -term of the lease -sale and leaseback clause - ANSWER-sale and leaseback clause
All of the following would affect demand EXCEPT -population -fiscal policy -wage levels -demographics - ANSWER-fiscal policy
All of the following are true regarding public records EXCEPT
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