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Question 1 of 10
1. Question
Which of the following statements will not be deemed to be a dual agency?
Correct
Nothing in licensing law prevents a broker from representing two buyers for the same property, but the fact that two buyers represented by the same broker may bid for the same property is typically revealed.
Incorrect
Nothing in licensing law prevents a broker from representing two buyers for the same property, but the fact that two buyers represented by the same broker may bid for the same property is typically revealed.
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Question 2 of 10
2. Question
Which of the following statements will not be deemed to be a dual agency?
Correct
Nothing in licensing law prevents a broker from representing two buyers for the same property, but the fact that two buyers represented by the same broker may bid for the same property is typically revealed.
Incorrect
Nothing in licensing law prevents a broker from representing two buyers for the same property, but the fact that two buyers represented by the same broker may bid for the same property is typically revealed.
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Question 3 of 10
3. Question
A broker who tries to benefit from a collection he has above his usual commission is breaking of what fiduciary principle of?
Correct
The broker’s principal interests should be the first priority of all, including his own. That is stated in the principle of loyalty.
Incorrect
The broker’s principal interests should be the first priority of all, including his own. That is stated in the principle of loyalty.
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Question 4 of 10
4. Question
Even at the request of the principal, the broker is not required to report which kind of information from third parties?
Correct
Issues of race, creed, or color are not deemed to be material evidence and need not be revealed even if demanded.
Incorrect
Issues of race, creed, or color are not deemed to be material evidence and need not be revealed even if demanded.
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Question 5 of 10
5. Question
With the inspection of the property as a basis, of which of the following choices that the selling broker should be responsible, on behalf of the property purchaser?
Correct
Such objects could be found but are not needed as a part of the required visual inspection of the property by the broker.
Incorrect
Such objects could be found but are not needed as a part of the required visual inspection of the property by the broker.
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Question 6 of 10
6. Question
A broker has an exclusive approval and a right-to-sell listing with a seller who wants $250,000 for her property. The broker chooses to use his cousin to purchase the house for himself at a full price, so he thinks he will resell it for $300,000 within a month. Which one of the following is true?
Correct
All the hidden benefit statements are valid.
Incorrect
All the hidden benefit statements are valid.
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Question 7 of 10
7. Question
The seller tells the agent that the furnace is 5 years old while it is really a well-maintained 20-year-old furnace. The agent shall forward this information to the purchaser. When the purchaser learns the facts after the title expires, who will be considered liable?
Correct
As long as the broker replicated facts that could not be checked by a physical examination, only the owner would be found responsible.
Incorrect
As long as the broker replicated facts that could not be checked by a physical examination, only the owner would be found responsible.
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Question 8 of 10
8. Question
Which of the following specific details should not be disclosed when a broker operates as a dual agent in a transaction?
Correct
The other options are material information that not only does not need to be held secret but is most likely to fall under the disclosure requirements.
Incorrect
The other options are material information that not only does not need to be held secret but is most likely to fall under the disclosure requirements.
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Question 9 of 10
9. Question
Which of the following statements should be included in the listing agreement in order to make a commission claim valid?
Correct
The other options are voluntary. Reimbursement has to do with costs if the listing is terminated until the selling of the house.
Incorrect
The other options are voluntary. Reimbursement has to do with costs if the listing is terminated until the selling of the house.
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Question 10 of 10
10. Question
The adjacent highway has been widened, then you purchase property along the highway. since you’re anticipating land prices to be improved in the vicinity. While in the process of this investment, you’re using it mainly principle of which?
Correct
Primarily, you anticipate that land prices will increase as a result of the highway upgrade.
Incorrect
Primarily, you anticipate that land prices will increase as a result of the highway upgrade.