Rockwell Exam Real Estate Classes WA

Rockwell Exam Real Estate Classes WA Final Exam 1 Questions and Answers 100% Correct

Question: A buyer purchases a rental home that is fully

furnished. The document used to transfer title to the furniture

is:

• quitclaim deed
• bill of sale
• special warranty deed
• general warranty deed

Correct answer: b. bill of sale

Question: When Ben dies, what kind of interest does Will

receive?

• Fee Simple Estate
• Life Estate
• Remainder Interest
• Reversionary Interest

Correct answer: A. Fee Simple Estate

Question: A buyer accepts a general warranty deed from a

seller, believing that the seller is the sole owner of the property. The buyer later finds out that the seller is only a co- owner. Has a covenant in the general warranty deed been violated?

• No, the only covenant in a general warranty deed promises

that the previous owner didn't encumber the property

• No, the principle of caveat emptor controls matters

concerning a deed

• Yes, there is a covenant providing equitable title
• Yes, there is a covenant providing marketable title

Correct answer: D. Yes, there is a covenant providing

marketable title

Question: A plaintiff files a lawsuit involving a property and

also files a separate document intended to provide notice of the lawsuit. This recorded notice of a pending legal action is

called a/an:

• Abstract of judgement
• Petition for alienation

• Writ of execution
• Lis Pendens

Correct answer: D. Lis Pendens

Question: A movie theater was built ten years ago. If the

neighborhood is now zoned entirely residential, the movie

theater:

• will have to be torn down
• must be remodeled to better conform to the neighborhood's

intended use

• will be allowed to continue if the owner obtains a

conditional use permit

• will be allowed to continue since it was built before the

new zoning law went into effect

Correct answer: D. Will be allowed to continue since it was

built before the new zoning law went into effect

Question: In a bilateral contract:

• a duty will be performed by only one party
• one party can restrict the performance of another party

• two parties have exchanged promises, and both parties are

obligated to perform

• all parties have fully performed their duties

Correct answer: C. two parties have exchanged promises, and

both parties are obligated to perform

Question: Gerald engages a licensee to list his property and

find a buyer for it. In this context, the licensee is acting as a:

• General agent
• power of attorney
• property manager
• special agent

Correct answer: D. Special Agent

Question: A licensee located what seems like a ready, willing,

and able buyer. However, the deal falls through at closing because the buyer cant obtain necessary financing. At the same time, though, a seller turns out to be unable to provide marketable title. Does the seller still owe a commission to the listing agent in this case?