Fair Housing and Disclosures Practice Question
Question
A broker reviews a transaction file with a new salesperson in a New York real estate transaction involving environmental issues. Which statement is the best answer? (Item 226)
Answer choices
- A. Local custom controls even when a statute, regulation, contract, or disclosure rule applies.
- B. Recognize disclosure concerns for hazards such as lead, asbestos, mold, or contamination.
- C. The requirement matters only if the buyer uses lender financing.
- D. The salesperson may handle the matter independently without broker involvement when compensation is expected.
Correct Answer
B. Recognize disclosure concerns for hazards such as lead, asbestos, mold, or contamination.
Explanation
The correct answer is B because environmental issues requires candidates to recognize disclosure concerns for hazards such as lead, asbestos, mold, or contamination. The other options rely on unsafe assumptions about custom, oral agreement, escrow, client preference, or independent salesperson authority and do not reflect sound New York exam practice.
Question details
- Difficulty: medium
- Domain: Fair Housing and Disclosures
- Objective: environmental issues