Which of the following is a duty ONLY to a client? - ✔✔ Loyalty represents interest.
Which of the following Services should NOT be performed for
... [Show More] a buyer customer? - ✔✔ Creating a market analyst of the property the buyer wishes to purchase.
Which of the following would a buyer's broker NOT be required to disclose to their client buyer? - ✔✔ That the sellers are getting divorced and need to sell the house quickly.
Without the written consent of supervising broker, agents have the authority to do which of the following..... - ✔✔ Amend the excluded properties.
Multiple representation without designated agency is when: - ✔✔ Both seller and the buyer are clients of The Brokerage company in the same transaction.
In which of the following situations would an agency disclosure NOT be required? - ✔✔ A listing agent answers a prospective buyers basic questions at an open house.
Licensees are required to disclose: - ✔✔ Both known and possible material adverse facts.
Is selling agent has given the buyer information on the real estate market and suggested a purchase price for the buyer's offer. The selling agent has likely created what type of agency with the buyer? - ✔✔ Implied agency
In a typical listing contract, the seller is the: - ✔✔ Client
Which of the following creates an Express agency? - ✔✔ Property Management agreement.
All listing and sub-agents have a responsibility to seller under: - ✔✔ Law of agency
Broker Moore heavy listing contract with Sarah. Nancy goes to Sarah's open house and decides she wants to make an offer on the house. Nancy who does not have an agency agreement with any other broker, ask Broker Moore to write the offer. Which of the following CORRECTLY identifies the relationship between Broker Moore and Nancy? - ✔✔ Nancy is Broker Moore's customer.
All of the following are duties to all parties EXCEPT? - ✔✔ Duty to negotiate
When presenting an offer to a For Sale by Owner (FSBO), a Buyer's Broker will be required to provide the seller which form? - ✔✔ Broker Disclosure to Customers
Which of the following Services May broker provide without an agency agreement? - ✔✔ Answer a buyer's questions about the location of the property.
A broker is allowed to act in a multiple representation relationship when: - ✔✔ Both clients in the transaction consent in writing to the multiple representation.
Which of the following is the type of agency model where the brokerage company only has one client in the transaction? - ✔✔ Single Agency
When marketing properties, licensee's liability of providing information regarding lot lines or lot sizes or even room dimensions may lead to: - ✔✔ 1. Lawsuits for substantial damages. 2. Recession of the transaction. 3. Possible filing of disciplinary complaints with the DSPS.
In the WB - 1 residential listing contract, who has the authority to accompany the home inspector during a home inspection? - ✔✔ The buyer
Refer to the transactional story problem on the introduction page of the final exam to answer the following question. Where on the WB - 1 residential listing contract does the broker put the name Randy Louis? - ✔✔ Lines 31-32
In the WB - 36 buyer agency agreement, early termination MUST be provided in what manner? - ✔✔ In writing
Which of the following is a specific to the WB4 - for condominium listing contract? - ✔✔ The seller needs to indicate whether or not the sale is subject to a right of first refusal.
What section in the WB - 1 residential listing contract requires licensees to disclose commission to cooperating buyers? - ✔✔ Compensation to others
The termination of a listing contract may be done which of the following ways? - ✔✔ 1. Cancellation agreement and mutual release 2. Amendment and 3. Notice letter
In the WB - 1 residential listing contract, how many days does the seller have to provide the new listing broker with the list of protected buyers? - ✔✔ 7 days
A property protected under the WB - 36 buyer agency agreement extension of agreement term is protected for how long after the expiration of the contract? - ✔✔ One year
According to the terms of the extension of leasing section of the WB - 1 residential listing contract, buyers are protected for what time frame? - ✔✔ One year
According to the terms of the WB - 1 residential listing contract, assuming a broker has taken all of the proper steps, which of the following is a protected buyer? - ✔✔ A buyer who attended an individual showing.
If the buyer would like the buyer's broker to be paid by the seller: - ✔✔ The buyer should authorize the direct payment of commission from seller to buyer broker in the buyer agency agreement.
A buyer's agent is representing two separate buyers. Each buyer is interested in the same property. How should the buyer agent proceed? - ✔✔ The licensee should draft competing offers on the behalf of each buyer.
In the event a seller on literally cancels the listing contract before its expiration date, a listing broker may do which of the following? - ✔✔ Demand compensation for the damages sustained as a result. [Show Less]