Agency Relationships and Disclosures Practice Question
Question
An escrow officer requests clarification from the broker involving transfer disclosure statement. What should a California real estate licensee understand? (Item 131)
Answer choices
- A. It allows a salesperson to act independently of the responsible broker.
- B. It shifts all responsibility to escrow and eliminates the broker’s duties.
- C. Recognize the seller disclosure form used for many California residential transfers.
- D. It makes oral promises enforceable in every real estate transaction.
Correct Answer
C. Recognize the seller disclosure form used for many California residential transfers.
Explanation
The correct answer is C because transfer disclosure statement requires candidates to recognize the seller disclosure form used for many California residential transfers. The other options overstate the effect of custom, oral agreement, escrow, or independent salesperson action and do not reflect safe California exam practice.
Question details
- Difficulty: easy
- Domain: Agency Relationships and Disclosures
- Objective: transfer disclosure statement