Contracts, Finance, and Transfer Practice Question
Question
A seller is preparing to list a home for the Oregon Real Estate Broker Exam involving contingencies and Oregon Real Estate Agency. Which statement is most accurate for exam purposes? (Item 7)
Answer choices
- A. Escrow or closing staff automatically assume all brokerage agency and disclosure duties.
- B. The client’s preference eliminates the need to disclose known material facts.
- C. Identify conditions that must be satisfied or waived before obligations become final in a way that fits Oregon exam practice.
- D. The party who complains first automatically receives the remedy requested.
Correct Answer
C. Identify conditions that must be satisfied or waived before obligations become final in a way that fits Oregon exam practice.
Explanation
The correct answer is C because contingencies requires candidates to identify conditions that must be satisfied or waived before obligations become final. 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: contingencies