Principles, Property, and Land Use Practice Question

Question

A seller is preparing to list a home for the Michigan Real Estate Salesperson Exam involving market value and Michigan occupational licensing regulation. Which response best applies the rule? (Item 135)

Answer choices

1. A. Escrow or closing staff automatically assume all brokerage agency and disclosure duties.
2. B. The client’s preference eliminates the need to disclose known material facts.
3. C. Identify the probable price under normal market conditions in a way that fits Michigan exam practice.
4. D. The party who complains first automatically receives the remedy requested.

Correct Answer

C. Identify the probable price under normal market conditions in a way that fits Michigan exam practice.

Explanation

The correct answer is C because market value requires candidates to identify the probable price under normal market conditions. The Michigan 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: Principles, Property, and Land Use
• Objective: market value

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