I almost missed this question

[Nick J.]

While studying for the RE license exam, I came across a question and I almost answered it wrong because I kinda read through the question without thinking.

Here it is for you, I thought it would be interesting to hear what you first thought was, honestly:

Q: An Option once exercised is considered:

1: Unilateral executed
2: Bilateral executory
3: Unilateral executory
4: Bilateral executed

There is 1 single answer so none of that 'depends' stuff. I'm interested in knowing which one you thought was right the first time you read it.

[Rich Weese]

I haven't been a Broker for 30 years but my answer is (strictly guess) 1.