Contracts, Finance, and Transfer Practice Question
Question
A supervising broker is reviewing a transaction file for the Ohio Real Estate Salesperson Exam involving inspection contingency and state-specific license supervision. Which response best applies the rule? (Item 100)
Answer choices
- A. The requirement matters only when the buyer obtains institutional financing.
- B. The affiliated licensee may handle the matter independently without broker responsibility.
- C. Local custom controls even when a statute, regulation, contract, or disclosure rule applies.
- D. Recognize buyer investigation rights and repair negotiation concepts in a way that fits Ohio exam practice.
Correct Answer
D. Recognize buyer investigation rights and repair negotiation concepts in a way that fits Ohio exam practice.
Explanation
The correct answer is D because inspection contingency requires candidates to recognize buyer investigation rights and repair negotiation concepts. The Ohio reference keeps the scenario tied to state licensing practice, while the other options rely on unsafe assumptions about oral custom, escrow, client preference, independent licensee authority, or ignoring written duties.
Question details
- Difficulty: hard
- Domain: Contracts, Finance, and Transfer
- Objective: inspection contingency