Practice Quiz

Real Estate Agent / Broker / Salesperson Exam Prep - Question List

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16. The liquidation of a financial obligation on an installment plan or basis is:
  1. Conversion
  2. Amortization
  3. Acceleration
  4. Conveyancing
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17. An oral or written agreement that is binding in a court of law is called a:
  1. gentlemen’s agreement
  2. contract
  3. business deal
  4. promissory note
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18. An offer by one of the parties to a real estate transaction to carry out that party’s part of the contract is called a:
  1. Gratuity
  2. Satisfaction
  3. Recourse
  4. Tender
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19. The following could be used by the buyer as earnest money deposit in purchasing real property:
  1. A promissory note secured by a deed of trust
  2. A postdated check
  3. An unsecured promissory note
  4. All of the above
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20. A form that is usually prepared to allow a real estate licensee to act as an agent for all principle parties to the transaction involved is:
  1. An agreement of sale
  2. An exchange agreement
  3. A loan broker’s statement
  4. A real property securities statement
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