Practice and Disclosures Practice Question

Question

A buyer and seller disagree about a closing issue in a Nevada real estate transaction involving lead-based paint. Which answer best reduces transaction risk? (Item 243)

Answer choices

1. A. The licensee should avoid documenting the issue to reduce the chance of later questions.
2. B. A licensee may give legal conclusions instead of recommending qualified legal advice when the issue is uncertain.
3. C. Apply federal pre-1978 residential lead disclosure requirements.
4. D. A verbal understanding always replaces any written requirement in a real estate transaction.

Correct Answer

C. Apply federal pre-1978 residential lead disclosure requirements.

Explanation

The correct answer is C because lead-based paint requires candidates to apply federal pre-1978 residential lead disclosure requirements. The other options rely on unsafe assumptions about custom, oral agreement, escrow, client preference, or independent salesperson authority and do not reflect sound Nevada exam practice.

Question details

• Difficulty: medium
• Domain: Practice and Disclosures
• Objective: lead-based paint

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