Reference no: EM132183622
1. An HOA is obligated to provide documents requested by an owner within __________ after the postmark on the mailing or hand delivery to the HOA of the written request.
a) 5 days
b) 10 days
c) two weeks
d) three weeks
2. The closing documents needed by escrow and the buyer regarding the owner's status with the HOA to calculate prorates and adjustments include a(n):
a) operating statement
b) statement of condition of assessments
c) profit and loss statement
d) penalty assessment schedule
3. The duty an agent owes to their client to disclose the extent of their knowledge on a transaction's tax aspects when the agent determines it is a material fact is an example of a(n):
a) agency duty.
b) arbitration duty.
c) fiduciary duty.
d) Both a and c.
4. When a broker or agent gives tax advice, they are best served by:
a) discouraging the client from seeking advice from other advisors.
b) involving the client's other advisors in the final decision.
c) charging the client an additional fee.
d) providing advice only after escrow closes.
5. A seller's agent has an affirmative duty to voluntarily disclose information to a potential buyer regarding a prior occupant:
a) whose death, from any cause, occurred on the real estate more than three years prior to the purchase offer.
b) who was afflicted with the HIV virus or AIDS.
c) Both a and b.
d) Neither a nor b.