Fair Housing, Practice, and Disclosures Practice Question
Question
An agent compares two similar exam concepts for the Ohio Real Estate Salesperson Exam involving material facts and Ohio Division of Real Estate. Which answer best reduces risk? (Item 155)
Answer choices
- A. The issue can be ignored if the parties want to close quickly.
- B. The rule applies only to commercial transactions and never to residential transactions.
- C. Disclose known facts affecting value, desirability, or party decision-making in a way that fits Ohio exam practice.
- D. Client funds may be mixed with business funds if the broker reconciles the account later.
Correct Answer
C. Disclose known facts affecting value, desirability, or party decision-making in a way that fits Ohio exam practice.
Explanation
The correct answer is C because material facts requires candidates to disclose known facts affecting value, desirability, or party decision-making. 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: medium
- Domain: Fair Housing, Practice, and Disclosures
- Objective: material facts