Real Estate Principles Practice Question
Question
A broker reviews a transaction file with a new salesperson in a Nevada real estate transaction involving leases. Which statement is most accurate for exam purposes? (Item 274)
Answer choices
- A. The salesperson may handle the matter independently without broker involvement when compensation is expected.
- B. Distinguish lease types, landlord-tenant duties, assignments, and subleases.
- C. Local custom controls even when a statute, regulation, contract, or disclosure rule applies.
- D. The requirement matters only if the buyer uses lender financing.
Correct Answer
B. Distinguish lease types, landlord-tenant duties, assignments, and subleases.
Explanation
The correct answer is B because leases requires candidates to distinguish lease types, landlord-tenant duties, assignments, and subleases. 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: leases