Contracts, Finance, and Transfer Practice Question
Question
A salesperson notices a possible compliance problem for the Arizona Real Estate Salesperson Exam involving deed types and desert-region water and environmental awareness. What should the licensee understand? (Item 158)
Answer choices
- A. The party who complains first automatically receives the remedy requested.
- B. Distinguish warranty, grant, special warranty, and quitclaim concepts at a high level in a way that fits Arizona exam practice.
- C. Escrow or closing staff automatically assume all brokerage agency and disclosure duties.
- D. The client’s preference eliminates the need to disclose known material facts.
Correct Answer
B. Distinguish warranty, grant, special warranty, and quitclaim concepts at a high level in a way that fits Arizona exam practice.
Explanation
The correct answer is B because deed types requires candidates to distinguish warranty, grant, special warranty, and quitclaim concepts at a high level. 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: deed types