Arkansas Real Estate Practice Exam

What efforts are expected regarding knowledge of property?

1. Minimal efforts

2. No effort, unless specifically asked

3. Reasonable efforts to ascertain facts material to value or desirability

4. Only efforts required by law

The correct answer is: Reasonable efforts to ascertain facts material to value or desirability

Efforts are expected in terms of knowledge of property in order to determine its value or desirability. Option A is incorrect as minimal efforts may not provide an accurate understanding of the property. Option B is incorrect as proper knowledge of the property is required, regardless of being asked or not. Option D is incorrect as the efforts required by law may not be enough to fully understand the property. Therefore, option C is the correct answer as it emphasizes the need for reasonable efforts to ascertain all facts that are important in determining the value or desirability of a property.