Principles, Property, and Land Use Practice Question
Question
A buyer asks a licensee for an exam-focused explanation for the Arizona Real Estate Salesperson Exam involving market value and desert-region water and environmental awareness. Which response best applies the rule? (Item 175)
Answer choices
- A. Local custom controls even when a statute, regulation, contract, or disclosure rule applies.
- B. The requirement matters only when the buyer obtains institutional financing.
- C. Identify the probable price under normal market conditions in a way that fits Arizona exam practice.
- D. The affiliated licensee may handle the matter independently without broker responsibility.
Correct Answer
C. Identify the probable price under normal market conditions in a way that fits Arizona exam practice.
Explanation
The correct answer is C because market value requires candidates to identify the probable price under normal market conditions. 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: Principles, Property, and Land Use
- Objective: market value