Nevada Real Estate Practice Exam

A real estate settlement statement is indeed a detailed document provided at closing. This document outlines all financial transactions associated with the sale of a property. It includes information such as the purchase price, buyer and seller credits, loan details, and the distribution of funds. This comprehensive account ensures that both parties are aware of all fees and payments involved in the transaction, which helps to facilitate a smooth closing process.

The other options do not accurately describe a settlement statement. For instance, a summary of the property's market value focuses on the property's worth rather than the specifics of financial transactions. A legal agreement between buyer and seller pertains more to the contract that secures the terms of the sale, while a report on the property's inspection results deals with the condition of the property rather than financial dealings. Each of these alternatives serves different purposes in the real estate transaction process but does not specifically define what a settlement statement is.