Certified Residential Appraiser Practice Exam

What does a promise typically encompass?

1. A suggestion to act

2. A firm commitment to do or refrain from doing something

3. A general intention to negotiate

4. A conditional agreement dependent on others

The correct answer is: A firm commitment to do or refrain from doing something

A promise typically encompasses a firm commitment to do or refrain from doing something. This definition emphasizes the binding nature of a promise, wherein one party conveys a definite intention to fulfill an obligation. A promise signifies certainty in the commitment being made, establishing a clear expectation that the individual will act in accordance with their stated intention, whether that involves taking action or refraining from it. In contrast, the other options illustrate less definitive forms of communication or commitment. A suggestion to act reflects a recommendation rather than a binding promise. A general intention to negotiate implies that discussions may occur but does not guarantee any specific outcome, and a conditional agreement dependent on others introduces variables that can affect whether the commitment is fulfilled, making it less certain than a straightforward promise.