Lesson One/Test Drive
• Standards of Professional Conduct
• Unlawful Conduct in Sale, Lease and Exchange Transactions
Important Terms
• beneficiary
• bona fide
• caveat emptor
• commingling
• consideration
• contract of sale
• fiduciary
• misrepresentation
• negligence
• plaintiff
• puffing
• rescission
• recreant
• Statute of Frauds
• trustee
• trust fund account
• trust funds
Lesson Two
• Disclosure
Important Terms
• back-up offer
• close of escrow
• contingency
• discount
• documentary transfer stamps
• escrow instructions
• exchange
• exclusive listing
• fraud
• frivolous
• material facts
• secret profits
• subterfuge
Lesson Three
• Unlawful Conduct Relating To Real Estate Financing
• Suggestions for Professional Conduct
Important Terms
• assignor
• bankruptcy
• default
• endorser
• judgments
• mechanics' liens
• recording