Fair Housing, Practice, and Disclosures Practice Question
Question
A seller is preparing to list a home for the Indiana Real Estate Broker Exam involving seller property disclosure and broker affiliation and supervision. Which response best applies the rule? (Item 26)
Answer choices
- A. Local custom controls even when a statute, regulation, contract, or disclosure rule applies.
- B. Recognize disclosure of known material property conditions in a way that fits Indiana exam practice.
- C. The requirement matters only when the buyer obtains institutional financing.
- D. The affiliated licensee may handle the matter independently without broker responsibility.
Correct Answer
B. Recognize disclosure of known material property conditions in a way that fits Indiana exam practice.
Explanation
The correct answer is B because seller property disclosure requires candidates to recognize disclosure of known material property conditions. The Indiana 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: Fair Housing, Practice, and Disclosures
- Objective: seller property disclosure