Contracts, Finance, and Transfer Practice Question
Question
A salesperson notices a possible compliance problem for the Arizona Real Estate Salesperson Exam involving counteroffer and Arizona subdivision and disclosure practice. Which statement is most accurate for exam purposes? (Item 78)
Answer choices
- A. Escrow or closing staff automatically assume all brokerage agency and disclosure duties.
- B. Recognize that a counteroffer rejects the prior offer and proposes new terms in a way that fits Arizona exam practice.
- C. The client’s preference eliminates the need to disclose known material facts.
- D. The party who complains first automatically receives the remedy requested.
Correct Answer
B. Recognize that a counteroffer rejects the prior offer and proposes new terms in a way that fits Arizona exam practice.
Explanation
The correct answer is B because counteroffer requires candidates to recognize that a counteroffer rejects the prior offer and proposes new terms. The Arizona reference keeps the scenario tied to state licensing practice, while the other options rely on unsafe assumptions about oral custom, escrow, client preference, independent licensee authority, or ignoring written duties.
Question details
- Difficulty: medium
- Domain: Contracts, Finance, and Transfer
- Objective: counteroffer