Contracts, Finance, and Transfer Practice Question
Question
A closing coordinator flags an issue before settlement for the Washington Real Estate Broker Exam involving contingencies and Washington broker licensing structure. Which statement is most accurate for exam purposes? (Item 7)
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 conditions that must be satisfied or waived before obligations become final in a way that fits Washington exam practice.
- D. Escrow or closing staff automatically assume all brokerage agency and disclosure duties.
Correct Answer
C. Identify conditions that must be satisfied or waived before obligations become final in a way that fits Washington 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 Washington 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