Practice and Disclosures Practice Question
Question
An agent notices a possible issue before a contract is signed in a Nevada real estate transaction involving property management basics. Which statement is most accurate for exam purposes? (Item 119)
Answer choices
- A. A verbal understanding always replaces any written requirement in a real estate transaction.
- B. The licensee should avoid documenting the issue to reduce the chance of later questions.
- C. Recognize management agreements, tenant funds, and maintenance duties.
- D. A licensee may give legal conclusions instead of recommending qualified legal advice when the issue is uncertain.
Correct Answer
C. Recognize management agreements, tenant funds, and maintenance duties.
Explanation
The correct answer is C because property management basics requires candidates to recognize management agreements, tenant funds, and maintenance duties. 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: property management basics