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REALTOR® Challenge
Back to myObjectiveOffer.com
1. In what year was NAR founded?
1857
1957
1969
1908
1776
2. "As-is" listings must be communicated:
Only in the public comments.
Only in the REALTOR comments.
In the public OR REALTOR comments.
To the buyer some time before closing.
N/A, not required to be disclosed.
3. According to Zillow, about what % of sellers get stressed during the transaction?
50%
25%
90%
<10%
33%
4. How much damages does the basic E&O insurance (RISC) cover when an agent engages in discriminatory conduct?
$0
$5,000
$25,000
$100,000
No limits.
5. How much does E&O insurance cover an agent's legal defense in a discrimination allegation?
$0
$25,000
$100,000
No limits.
N/A. E&O does not cover discrimination allegations.
6. Which, if any, of the following typically define a legal bedroom?
Must have a window, only if located in the basement.
Must have at least one closet.
Must feature a permanent air conditioning source.
For non-sloped ceilings, ceiling height must be at least 7 ft.
Picture windows can act as an emergency exit.
All the above.
7. (T/F) Both HUD and NAR allow MLS listings to include neighborhood crime and school ratings scores.
True
False
8. Which, if any, of the following statements are true about the TN Real Estate Commission (TREC)?
Meetings are held monthly.
Meetings must be conducted throughout the state.
Agent complaints comprise about 50% of each meeting.
They work in tandem with the TAR legal team to make rules.
All the above.
9. (T/F) HUD says non-REALTORS must show no favoritism to just as many protected classes as REALTORS.
True
False
10. Marital status is...
Protected only under the federal Fair Housing Act.
Protected only under the TN Fair Housing Act.
Protected under both federal and state housing laws.
Not protected under federal and state housing laws.
Only protected in 55+ communities.
FEELING LUCKY?
Yes, I am feeling lucky. I need to get the first 10 and the following 2 questions correct, and I get $50!
I'll play it safe. Just score the first 10 questions. If I get them all right, I get $20!
11. Regarding the square footage placed in the MLS...
"Buyer to verify all information" covers listing agents.
A basement's square footage can not be greater than the main floor.
There are no definitive standards for determining above-grade and below-grade (basement) square footage in my area.
NAR states only above-grade living space can be used as the home's sq ft value.
All the above.
12. According to realtracs MLS, virtually staged images (select which, if any, that are true):
Must not show features that do not convey.
Must be individually labeled as such.
Can show personal property, but only if disclosed in the listing.
Can add a TV and mounting bracket to the wall.
Can remove power lines if disclosed in the listing comments.
All the above.
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