Contracts, Finance, and Transfer Practice Question
Question
A salesperson notices a possible compliance problem for the Oregon Real Estate Broker Exam involving purchase agreement and Oregon Real Estate Agency. Which response best applies the rule? (Item 59)
Answer choices
- A. The client’s preference eliminates the need to disclose known material facts.
- B. The party who complains first automatically receives the remedy requested.
- C. Identify essential residential sale terms and buyer/seller obligations in a way that fits Oregon exam practice.
- D. Escrow or closing staff automatically assume all brokerage agency and disclosure duties.
Correct Answer
C. Identify essential residential sale terms and buyer/seller obligations in a way that fits Oregon exam practice.
Explanation
The correct answer is C because purchase agreement requires candidates to identify essential residential sale terms and buyer/seller obligations. The Oregon 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: Contracts, Finance, and Transfer
- Objective: purchase agreement