Real Estate Principles Practice Question
Question
A buyer asks a licensee for an exam-focused explanation in a Nevada real estate transaction involving contracts. What should the licensee understand? (Item 69)
Answer choices
- A. Identify contract elements, contingencies, breach, and remedies.
- B. A verbal understanding always replaces any written requirement in a real estate transaction.
- C. The licensee should avoid documenting the issue to reduce the chance of later questions.
- D. A licensee may give legal conclusions instead of recommending qualified legal advice when the issue is uncertain.
Correct Answer
A. Identify contract elements, contingencies, breach, and remedies.
Explanation
The correct answer is A because contracts requires candidates to identify contract elements, contingencies, breach, and remedies. 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: easy
- Domain: Real Estate Principles
- Objective: contracts