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Question 1 of 15
1. Question
Who should perform the final walkthrough of the property prior to closing?
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Question 2 of 15
2. Question
If a sale contract indicates that the day of closing is “the seller’s day,” this means that
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Question 3 of 15
3. Question
If a seller paid $488 for transfer taxes at closing, and the rate was $1.00 for every $400 or fraction thereof of the sale price, what was the sale price?
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Question 4 of 15
4. Question
Florida’s documentary stamp tax rate for deeds in Pinellas County is
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Question 5 of 15
5. Question
Assume a seller at closing must pay transfer taxes at the rate of $1.00 for every $500 of purchase price, or fraction thereof. If the sale price is $345,600, how much tax must the seller pay?
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Question 6 of 15
6. Question
A sale contract may specifically deal with tax withholding responsibility if the seller is a foreigner. What is this responsibility?
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Question 7 of 15
7. Question
A prorated expense on the settlement statement is
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Question 8 of 15
8. Question
A buyer’s financing arrangements are often concluded at closing, because
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Question 9 of 15
9. Question
The amount a buyer owes at closing is equal to
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Question 10 of 15
10. Question
The purpose of the closing event is to
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Question 11 of 15
11. Question
The Real Estate Settlement Procedures Act prescribes closing procedures that must be followed whenever
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Question 12 of 15
12. Question
When a licensee receives earnest money from a buyer, the licensee must turn the money over to his or her broker
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Question 13 of 15
13. Question
Which of the following are examples of closing items not prorated between buyer and seller?
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Question 14 of 15
14. Question
Which of the following items are paid in advance?
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Question 15 of 15
15. Question
Which of the following items are paid in arrears?
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