A broker receives more than one offer on the same property. The broker must:
A. Present only the highest offer.
B. Return the lowest offer.
C. Present all signed offers.
D. Accept the highest offer and reject all the other offers.
Answer: C. Present all signed offers.
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Potential Buyer Marshall seeks to purchase a home in a new subdivision. A licensee assists Marshall in securing a loan for such purpose from a savings and loan association, explaining to Marshall the loan processing costs that will be involved at closing. Under these conditions, when the loan is arranged, a copy of the HUD Booklet, "Settlement Costs and You":
A: Need not be provided to Marshall if the procedures and costs of the loan have been adequately explained; B: Must be provided immediately by the licensee; C: Must be provided to Marshall within one week; D: Must be provided to Marshall by the lender within three days of the loan application.
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