Quiz-summary
0 of 10 questions completed
Questions:
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
Information
Practice Questions
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading...
You must sign in or sign up to start the quiz.
You have to finish following quiz, to start this quiz:
Results
0 of 10 questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 points, (0)
Categories
- Not categorized 0%
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- Answered
- Review
-
Question 1 of 10
1. Question
The agent who is ready, willing, and able to bring a buyer to a seller is usually referred to as?
Correct
The cause of procurement is the agent who is effective in getting together the buyer and seller.
Incorrect
The cause of procurement is the agent who is effective in getting together the buyer and seller.
-
Question 2 of 10
2. Question
Broker A has a listing agreement to sell the House of Seller B. On behalf of Buyer C, Broker A brings an offer to Seller B. Seller B rejects the offer and rejects offer and attempts to negotiate directly with Buyer C a week later. Seller B breached what?
Correct
While fiduciary duties are normally owed by the agent to the principal, they do not interfere. The agent’s company is owed by
the principal to the agent.Incorrect
While fiduciary duties are normally owed by the agent to the principal, they do not interfere. The agent’s company is owed by
the principal to the agent. -
Question 3 of 10
3. Question
A listing agreement has been signed by Seller A with Broker B. Seller A sells its property without the help of Broker B and owes no fee
to Broker B under the terms of the listing agreement. What kind of listing agreement did Seller A sign?Correct
In one of the other listings, you might get imaginative and think of ways that the seller will owe no fee, but listing an exclusive entity is the clearest and right option.
Incorrect
In one of the other listings, you might get imaginative and think of ways that the seller will owe no fee, but listing an exclusive entity is the clearest and right option.
-
Question 4 of 10
4. Question
In selling her home, Broker A agrees to serve Seller B. If Seller B successfully sells the property, he offers to pay a fee to Broker A. Based on these details, what do we know for certain?
Correct
The only thing you know for certain is the essence of the deal because if it was the procuring cause, the broker would be paying in any listing arrangement.
Incorrect
The only thing you know for certain is the essence of the deal because if it was the procuring cause, the broker would be paying in any listing arrangement.
-
Question 5 of 10
5. Question
After the sale of her house and all bills are covered, Seller A wants to walk away with $200,000. She decides that Broker B is entitled to retain everything he gets above that as his fee. What kind of deal were they making?
Correct
This is a great definition of a net listing, with the broker holding the difference between the owner’s net and the selling price
as his commission.Incorrect
This is a great definition of a net listing, with the broker holding the difference between the owner’s net and the selling price
as his commission. -
Question 6 of 10
6. Question
Which of the following statements about the cooperating broker is true?
Correct
Any of the seller, buyer, or broker for listings can be represented by a cooperating broker.
Incorrect
Any of the seller, buyer, or broker for listings can be represented by a cooperating broker.
-
Question 7 of 10
7. Question
Who of the following owes the buyer fiduciary liability?
Correct
A cooperating broker would have been the confounding option here because she could be either a buyer’s or a buyer’s agent of the seller.
Incorrect
A cooperating broker would have been the confounding option here because she could be either a buyer’s or a buyer’s agent of the seller.
-
Question 8 of 10
8. Question
Which of the following statements about a real estate salesperson is true?
Correct
While sometimes any of the incorrect responses may be accurate, for the purposes of control, the salesperson is still considered an employee
of the broker.
Incorrect
While sometimes any of the incorrect responses may be accurate, for the purposes of control, the salesperson is still considered an employee
of the broker.
-
Question 9 of 10
9. Question
Which of the following is not a form of agreement for listing?
Correct
The numerous listing services are marketing vehicles for listings to be shared.
Incorrect
The numerous listing services are marketing vehicles for listings to be shared.
-
Question 10 of 10
10. Question
A broker employed to sell a house is deemed to be a?
Correct
To conduct a small range of services, such as a single real estate sale, a special agent is hired.
Incorrect
To conduct a small range of services, such as a single real estate sale, a special agent is hired.