Fair Housing, Practice, and Disclosures Practice Question
Question
A salesperson notices a possible compliance problem for the Oregon Real Estate Broker Exam involving lead-based paint and Oregon Real Estate Agency. Which statement is most accurate for exam purposes? (Item 9)
Answer choices
- A. Apply federal disclosure concepts for pre-1978 residential housing in a way that fits Oregon exam practice.
- B. The issue can be ignored if the parties want to close quickly.
- C. The rule applies only to commercial transactions and never to residential transactions.
- D. Client funds may be mixed with business funds if the broker reconciles the account later.
Correct Answer
A. Apply federal disclosure concepts for pre-1978 residential housing in a way that fits Oregon exam practice.
Explanation
The correct answer is A because lead-based paint requires candidates to apply federal disclosure concepts for pre-1978 residential housing. 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: easy
- Domain: Fair Housing, Practice, and Disclosures
- Objective: lead-based paint