Contracts, Finance, and Transfer Practice Question
Question
An agent compares two similar exam concepts for the Georgia Real Estate Salesperson Exam involving counteroffer and community association and closing-attorney practice awareness. Which answer best reduces risk? (Item 42)
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 Georgia 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 Georgia 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 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: counteroffer