Contracts, Finance, and Transfer Practice Question
Question
An agent compares two similar exam concepts for the Massachusetts Real Estate Salesperson Exam involving deed types and Massachusetts Board of Registration. Which statement is the best answer? (Item 176)
Answer choices
- A. The party who complains first automatically receives the remedy requested.
- B. Escrow or closing staff automatically assume all brokerage agency and disclosure duties.
- C. The client’s preference eliminates the need to disclose known material facts.
- D. Distinguish warranty, grant, special warranty, and quitclaim concepts at a high level in a way that fits Massachusetts exam practice.
Correct Answer
D. Distinguish warranty, grant, special warranty, and quitclaim concepts at a high level in a way that fits Massachusetts exam practice.
Explanation
The correct answer is D because deed types requires candidates to distinguish warranty, grant, special warranty, and quitclaim concepts at a high level. The Massachusetts 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: hard
- Domain: Contracts, Finance, and Transfer
- Objective: deed types