Contracts
Under California law, a real estate licensee who acts as a loan broker in a transaction must provide the borrower with a:
AListing agreement
BMortgage Loan Disclosure Statement (MLDS)✓ Correct
CTransfer Disclosure Statement
DAgency confirmation form
Explanation
Under Business and Professions Code §10240, a real estate licensee acting as a mortgage loan broker must provide the borrower with a Mortgage Loan Disclosure Statement (MLDS) before the borrower becomes obligated on the loan, disclosing all costs and terms.
Related California Contracts Questions
- In contract law, 'time is of the essence' means:
- Which of the following is NOT a required element for a valid real estate contract in California?
- What is 'consideration' in a real estate contract?
- Under a California Residential Purchase Agreement, how long does the seller typically have to respond to an offer before it expires?
- Under California law, a minor (under 18) who signs a real estate contract:
- Which remedy allows a buyer to force a seller to complete the sale as agreed when the seller refuses to close?
- What is 'consideration' in the context of a real estate contract?
- What is the difference between an 'assignment' and a 'novation' of a contract?
Practice More California Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free California Quiz →