1. Which of the following would be a credit on a buyer's closing statement? a. Selling price. b. Fee for recording the deed. c. Earnest moncy paid. d. Documentary foc. c. Broker's foe. 2. Which of the following statements is correce? a. Closings are always preformed at title insurance offices. b. The buyer's real estate broker is required by statute to select the escrow agent. c. Attomeys are required to be present at closings. d. Buyers are required to bring sufficient and good funds to closing. e. Sellers are required to provide the buyer with coffee and doughnuts at elosing. 3. Title insurance would be: a. a credit for the buyer and a debit for the seller. b. a debit for the buyer and a credit for the seller. c. a debit for the buyer and a credit for the broker. d. a debit for the seller and a credit for the broker. c. a credit for the buyer and a debit for the broker. 4. Assuming that there are unpaid taxes for the current year, at closing this account would be: a. a credit for the buyer and a debit for the seller. b. a debit for the buyer and a credit for the seller. c. a debit for the buyer and a credit for the broker. d. a debit for the seller and a credit for the broker. c. a credit for the buyer and a debit for the broker. 5. Which of the following would be a debit on a buyer's closing statement? a. second mortgage. b. taxes for the current year. c. broker's fee. d. selling price. c. earnest money. 6. Circle all of the following statements that are true. a. Forcible Entry and Detainer (FED) actions are equivalent to eviction actions. b. FED actions are very time sensitive and can be completed in about 30 -days. c. FED actions sometimes end with the use of a sheriff. d. If a tenant's possessions are put on the curbside due to an evietion, the landlord is responsible. e. Tenants can only be evicted for non-payment of rent. f. FED actions provide notice so that a person's constitutional right to due process is protected. 7. Circle all of the following statements that are true with regard to security deposits. a. Without any agreement security deposits can be held by the landlord for only 15 days. b. With agreement security deposits can be held by the landlord for a maximum of 60 days. c. Normal wear and tear expenses can be deducted from security deposit. d. Tenants can be responsible for triple damages if they are sued by the landlord. c. If damages are deducted from the security deposit, a written accounting must be given to the tenant. f. Attorney fees can be recovered by the tenant if they are suecessful in suing the landlord
