Contracts, Finance, and Transfer Practice Question
Question
A salesperson notices a possible compliance problem for the Virginia Real Estate Salesperson Exam involving recording and Virginia Real Estate Board. Which statement is the best answer? (Item 177)
Answer choices
- A. Recognize constructive notice and priority effects of recording in a way that fits Virginia exam practice.
- B. The client’s preference eliminates the need to disclose known material facts.
- C. The party who complains first automatically receives the remedy requested.
- D. Escrow or closing staff automatically assume all brokerage agency and disclosure duties.
Correct Answer
A. Recognize constructive notice and priority effects of recording in a way that fits Virginia exam practice.
Explanation
The correct answer is A because recording requires candidates to recognize constructive notice and priority effects of recording. The Virginia 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: Contracts, Finance, and Transfer
- Objective: recording