Real Estate License Exams For Dummies with Online Practice Tests, 4th Edition

Chapter 24

Answers and Explanations to Practice Exam Three

I assume you’ve already taken the first two practice exams, so by the time you’re done reviewing your answers for this exam there should be a big smile on your face. Once again, review the answers carefully. I wrote the explanations of the correct answers in such a way as to give you a little more than the basic information, so study these answers as another way to learn and remember the material.

As you did with the last two exams, go through all the answers and give yourself one point for each one correct. After you’ve noted all your correct and incorrect answers go through the exam answers one more time and note how many wrong answers you got by chapter. Both your overall score and your chapter-by-chapter score should be getting higher at this point. But keep studying. You’ve put a lot of effort in so far, and the finish line is almost in sight.

1. (C) Chapter 3

   The key to this answer is that only the correct answer has any actual control over what happens to a piece of real estate. The three incorrect answers are all specific functions that an agent or other real estate professional may perform to provide a limited service that would have no ongoing impact to the property.

2. (D) Chapter 3

   There’s a tendency when answering questions to look for the most complicated answer as the correct one. This question is an example of the simplest answer being correct. The idea of dealing with risk by transferring it is that no individual ...