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  1. Question 1 of 40
    1. Question

    Foreclosure occurs when a ____ seizes and sells a borrower’s ____ after the borrower has failed to ____ the lender.

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  2. Question 2 of 40
    2. Question

    A buyer agrees to purchase a home once the sale on her current home is completed. Legally, this is known as ____?

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  3. Question 3 of 40
    3. Question

    Mr. and Mrs. Cox make Mr. and Mrs. Green an offer on their home, but they have not heard back from them on whether or not the offer has been accepted. In the meantime, they have found another home they would like to purchase instead. What is their best option?

    Correct
    Incorrect
  4. Question 4 of 40
    4. Question

    Which part of a traditional deed contains warranties?

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  5. Question 5 of 40
    5. Question

    What part of a deed limits the amount of the estate granted?

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  6. Question 6 of 40
    6. Question

    Which type of deed contains no warranties at all?

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    Incorrect
  7. Question 7 of 40
    7. Question

    Real estate agents will earn their money once a piece of property is ____.

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    Incorrect
  8. Question 8 of 40
    8. Question

    ____ indicates ownership of property, in real estate terms.

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  9. Question 9 of 40
    9. Question

    Joan sells her house to her brother Mike on a handshake. This contract is:

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  10. Question 10 of 40
    10. Question

    When ownership of a piece of real estate goes from one person to another, it is called a(n) ____.

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  11. Question 11 of 40
    11. Question

    A buyer and seller agree to wait until the seller’s listing is expired to make the sale in order to avoid paying the broker his share. How can the broker get his commission?

    Correct
    Incorrect
  12. Question 12 of 40
    12. Question

    A contract can become voidable if one of the parties was being victimized because ____.

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  13. Question 13 of 40
    13. Question

    Which of the following is not a requirement for a deed to be valid?

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  14. Question 14 of 40
    14. Question

    An express contract can be ____.

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  15. Question 15 of 40
    15. Question

    A good example of an implied contract is ____.

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  16. Question 16 of 40
    16. Question

    Which of the following is not true regarding a contract of sale?

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  17. Question 17 of 40
    17. Question

    Deed restrictions and easements on a property are considered ____ when written into the deed.

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  18. Question 18 of 40
    18. Question

    In a real estate transaction, the ____ is the current owner of the property and is conveying his or her property to someone else.

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  19. Question 19 of 40
    19. Question

    Substituting a new obligation for an existing one with the intent to cancel the latter is called ____.

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  20. Question 20 of 40
    20. Question

    Why are net listings generally frowned upon in the real estate industry?

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  21. Question 21 of 40
    21. Question

    The listing period for a single family home vs. a commercial property differs in that:

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  22. Question 22 of 40
    22. Question

    Where is a deed recorded?

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  23. Question 23 of 40
    23. Question

    Who is responsible for establishing the listing price of a property?

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  24. Question 24 of 40
    24. Question

    What are the four elements required of every valid and enforceable contract?

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  25. Question 25 of 40
    25. Question

    The ____, also known as the words of conveyance, includes the words that describe exactly what rights the grantee is receiving.

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  26. Question 26 of 40
    26. Question

    For a listing agreement to be valid, it must be ____.

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  27. Question 27 of 40
    27. Question

    A bilateral contract is one where ____.

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  28. Question 28 of 40
    28. Question

    The seller disclosure statement contains ____.

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  29. Question 29 of 40
    29. Question

    The ____ requires that all real estate transfers of title be in writing.

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  30. Question 30 of 40
    30. Question

    A contract can be unenforceable if ____.

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  31. Question 31 of 40
    31. Question

    A ___ serves as your permanent record of property ownership.

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  32. Question 32 of 40
    32. Question

    In reference to deeds, what is the closest definition of “delivery in escrow”?

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  33. Question 33 of 40
    33. Question

    The grantor must ____ the deed for it to be valid.

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  34. Question 34 of 40
    34. Question

    The ____, which contains the words “to have and to hold,” further defines any rights being granted to the grantee.

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  35. Question 35 of 40
    35. Question

    The ____ shows that the grantor is receiving something in exchange for the property.

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  36. Question 36 of 40
    36. Question

    An example of substantial performance is when ____.

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  37. Question 37 of 40
    37. Question

    A(n) ____ is a way of proving that the grantor signs the deed voluntarily.

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  38. Question 38 of 40
    38. Question

    The ____ of a piece of property is designed to leave no doubt about the exact boundaries of the property being conveyed.

    Correct
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  39. Question 39 of 40
    39. Question

    In a real estate transaction, the ____ is the recipient of a piece of property and is receiving property from someone else.

    Correct
    Incorrect
  40. Question 40 of 40
    40. Question

    The term ____ refers to the legal act of giving and receiving a deed.

    Correct
    Incorrect
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