Contracts, Finance, and Transfer Practice Question
Question
A seller is preparing to list a home for the Georgia Real Estate Salesperson Exam involving escrow and community association and closing-attorney practice awareness. Which response best applies the rule? (Item 106)
Answer choices
- A. The client’s preference eliminates the need to disclose known material facts.
- B. Identify neutral handling of funds and documents under written instructions in a way that fits Georgia exam practice.
- C. The party who complains first automatically receives the remedy requested.
- D. Escrow or closing staff automatically assume all brokerage agency and disclosure duties.
Correct Answer
B. Identify neutral handling of funds and documents under written instructions in a way that fits Georgia exam practice.
Explanation
The correct answer is B because escrow requires candidates to identify neutral handling of funds and documents under written instructions. The Georgia 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: escrow