Alabama Real Estate Practice Exam

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Prepare for the Alabama Real Estate Exam. Utilize flashcards and multiple-choice questions, each coupled with hints and explanations. Ace your upcoming test!

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What does the Real Estate Settlement Procedures Act (RESPA) require?

A listing of all real estate agents in an area
Disclosure of agent commissions
Disclosures such as a Good Faith Estimate of closing costs
A fixed commission rate for all property sales

The correct answer is: Disclosures such as a Good Faith Estimate of closing costs

The Real Estate Settlement Procedures Act (RESPA) requires the disclosure of certain information related to closing costs and settlement procedures in real estate transactions. Option A is incorrect because RESPA does not pertain to real estate agent listings. Option B is incorrect because RESPA does not require disclosure of agent commissions. Option D is incorrect because RESPA does not regulate commission rates. The correct answer is C because it specifically requires a Good Faith Estimate of closing costs.