Real Estate Principles Practice Question

Question

A seller is preparing to list a residential property in a Nevada real estate transaction involving valuation. What should the licensee understand? (Item 199)

Answer choices

1. A. The party who complains first automatically receives the legal remedy requested.
2. B. Escrow automatically assumes all brokerage disclosure and agency duties.
3. C. Apply market value, value principles, and appraisal approaches.
4. D. The client’s preference eliminates the need to disclose known material facts.

Correct Answer

C. Apply market value, value principles, and appraisal approaches.

Explanation

The correct answer is C because valuation requires candidates to apply market value, value principles, and appraisal approaches. 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: Real Estate Principles
• Objective: valuation

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