GAR Forms Quiz Attempt #2

GAR Forms Quiz Attempt #2

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*GAR FORMS QUIZ*
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*GAR FORMS QUIZ*

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Question 1 of 10

1. Question
An appraisal contingency is found on which of the following GAR forms?
- Counter Offer
- Purchase and Sale Agreement
- All Cash Sale
- Conventional Loan Contingency
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Question 2 of 10

2. Question
Starting in what year should a led based paint exhibit be used?
- 1976
- 1977
- 1978
- 1979
- 1980
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Question 3 of 10

3. Question
What does the due dilligence period in the GAR contract mean?
- The buyer can terminate the contract for any reason during this period
- The buyer can only terminate with the seller's written permission during this period
- The buyer can terminate with either the seller's written or verbal permission during this period
- The buyer can terminate if the inspection reveals any issues during this period
- The buyer can terminate if the inspection reveals any safety issues during this period
Correct

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Question 4 of 10

4. Question
A financing contingency is found in which of the following GAR forms?
- Purchase and Sale Agreement
- Counter Offer
- Conventional Loan Contingency
- All Cash Sale
Correct

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Question 5 of 10

5. Question
In which cased would you need to fill out a F511 Escrow Agreement form?
- the agent has placed your funds in escrow on your behalf
- The broker has placed your funds in escrow
- The closing attorny has placed your funds in escrow
- The buyer signed over the escrow account to you
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Question 6 of 10

6. Question
The only reason a broker should not disclose all offers on a property is when directed by the ____ to not present offers once one has already been accepted.
- seller
- buyer
- salesperson
- cooperating broker
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Question 7 of 10

7. Question
Which of the following GAR forms contains an escrow agreement?
- none of the above
- Land contract
- Conventional Loan Contingency
- Agreement of Closing Attorney to Serve as Holder of Earnest Money
Correct

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Question 8 of 10

8. Question
Which form gives is most likely to include a written agreement in which the client agrees to only work with one broker in an effort to buy a home.
- Exclusive Brokerage Agreement
- Exclusivity Contract
- Conventional buyer agreement
- none of the above
Correct

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Question 9 of 10

9. Question
Which of these GAR forms has the Closing Attorney representing neither the buyer or the seller?
- Brokerage Sale
- None of the above
- Conventional Sale
- Cash Sale
Correct

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Question 10 of 10

10. Question
Which most accurately defines void-ability _____________________
- A contract that is not recognized legally and has no legal effect
- A contract that has mostly valid written agreements and can still be used
- A contract that can be considered valid
- A contract that is recognized legally
Correct

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