Question: What is the written document created by a planning board that identifies goals, objectives, principles, guidelines, policies, standards, and strategies for the growth and development of a community?

Answer Options: A. Master plan B. Plat C. Variance D. Zoning map

Answer: A. Master plan

Question: A commercial area is listed on the Superfund site. A common reason for this is the presence of:

Answer Options: A. air pollution. B. a lead-based paint hazard. C. a nearby wetland. D. an underground storage tank.

Answer: D. an underground storage tank.

Question: Who has enforcement oversight of the Fair Housing Act?

Answer Options: A. Department of Housing and Urban Development (HUD) B. Federal Housing Administration (FHA) C. US Congress D. US Supreme Court

Answer: A. Department of Housing and Urban Development (HUD)

Question: Buyer Dan purchases a residential property, intending to use it for his commercial landscaping business. Later, Dan finds out that the property isn’t zoned for commercial use, and he isn’t permitted to use it for his business. Most likely, Dan:

Answer Options: A. can sue the seller since the objective of the purchase was not met. B. can sue the seller’s agent for not disclosing the zoning. C. is stuck with the property because this is a valid executed contract. D. may use the property for his business until he is granted a variance.

Answer: C. is stuck with the property because this is a valid executed contract.

Question: Which of the following are protected classes under Ohio law but are NOT included in federal fair housing protections?

Answer Options: A. Military status and ancestry B. Ancestry and familial status C. Disability and military status D. Familial status and gender

Answer: A. Military status and ancestry

Question: What is the maximum payout from the Real Estate Recovery Fund per licensee?

Answer Options: A. $2,500 B. $30,000 C. $40,000 D. $50,000

Answer: C. $40,000

Question: Vlad works for a property management company that manages apartment buildings owned by various investors. Vlad’s duties include showing vacant units to prospective tenants, negotiating lease terms, and approving rental applications. Does Vlad need a real estate license?

Answer Options: A. No, as long as he’s paid on a salary basis B. No, because he’s only dealing with rentals, not sales C. Yes, because he’s negotiating leases and approving applications D. Yes, but only if he’s compensated through commissions

Answer: C. Yes, because he’s negotiating leases and approving applications

Question: Which of these do you think would LEAST likely be considered a material fact that a listing agent must disclose to a buyer?

Answer Options: A. The current owner believes the house is haunted. B. Part of the property is located in wetlands. C. The well water on the property is considered undrinkable. D. Several window frames are warped, causing air and water leaks.

Answer: A. The current owner believes the house is haunted.

Question: A property owner has riparian rights. This suggests that their property is next to:

Answer Options: A. a river or stream. B. a road or street. C. agricultural property. D. oil or mineral deposits.

Answer: A. a river or stream.

Question: What is the primary purpose of a binder in real estate transactions?

Answer Options: A. To create an immediately binding contract B. To replace the need for earnest money C. To serve as the final purchase agreement D. To serve as a roadmap for the later creation of a purchase agreement

Answer: D. To serve as a roadmap for the later creation of a purchase agreement

Question: Harper and June enter into a contract in which Harper agrees to sell her house to June. Harper later changes her mind and refuses to sell. June then sues Harper to force her to go through with the contract. This is known as a suit for _ _ performance.

Answer Options: A. full B. injunctive C. partial D. specific

Answer: D. specific

Question: Each of the following is required in a brokerage’s written company policy on agency relationships EXCEPT for which?

Answer Options: A. Procedures to ensure the protection of confidential information B. A list of all current clients and their contact information C. Procedures for appointing licensees to represent clients D. Types of agency relationships the brokerage may establish

Answer: B. A list of all current clients and their contact information