Contracts, Finance, and Transfer Practice Question
Question
A closing coordinator flags an issue before settlement for the Missouri Real Estate Salesperson Exam involving recording and Missouri Real Estate Commission. What should the licensee understand? (Item 69)
Answer choices
- A. Recognize constructive notice and priority effects of recording in a way that fits Missouri exam practice.
- B. The client’s preference eliminates the need to disclose known material facts.
- 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
A. Recognize constructive notice and priority effects of recording in a way that fits Missouri exam practice.
Explanation
The correct answer is A because recording requires candidates to recognize constructive notice and priority effects of recording. The Missouri 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: easy
- Domain: Contracts, Finance, and Transfer
- Objective: recording