GOLD COAST RE 1001 CRAM PRACTICE MATH
AND FINAL 2026 EXAM SCRIPT COMPLETE
QUESTIONS AND SOLUTIONS GRADED A+
◉ The one who engages the broker in a single agency relationship.
Answer: Who is the principal or employer?
◉ The listing did not give Bob the right to obligate Owen to Percy's
offer. Answer: Homowner owen signed an exlusive right of sale
listing with Bob, a registered broker. The listing states that Bob is
employed to find a purchaser and that Owen agrees to pay a 10%
commission to Bob or any person, partnership, Corporation or firm
that sells the property, The remainger of the listing deals with the
terms and conditions of the sale and duration of the listing. While
owen was away on vacantion, Percy made a written offer to urchase
the property at the listed price, terms and conditions. Bob, on behalf
of owner Owen, accepted Percy's offer and signed it for Owen. which
statement is correct?
◉ The broker is not entitled to a commission. Answer: Sales
associate John attends a cocktail party with his friend Bill to another
friend, Jack. It turns out that Jack has a house for sale, and Bill agrees
to purchase it. Sales associate John makes it clear that he want no
commission. Which statement is correct?
,◉ say nothing about the seller, and ask the buyer to make an offer.
Answer: A broker, while looking for a deal for his best friend, gets a
listing. The seller must sell because of family emergency. What
should the broker say to his best friend?
◉ submit the offer to a seller. Answer: If an oral offer is made to a
broker on a property the broker has listed, what should be the
broker's response?
◉ Tell the buyer before going into contact. Answer: If a broker is
aware of a construction lien on apeice of property, what should he or
she do?
◉ The broker is guilty of concealment. Answer: A broker lists a
proeprty for 30,000. The broker learnes of a new developmetn
which will be built beside the listed propery. The broker purchases
the porperty from the seller for the full lisred price and discloses the
fact that he is a licensed broker. The broker then sells the property to
the developer for 50,000 which sttment is correct?
◉ t1n, r1w. Answer: Which township is immediately west of t1n, r1e
◉ branch office. Answer: John smith is the broker of ABC realty. He is
preparing to open a branch office. All of the following items are
required on the branch office sign, except
,◉ the broker could be disciplined for concealment. Answer: Broker
Jones takes a listing on a condominium from Mr.Charles, he notified
jones that the roof leaks. Jones negotiations the sale of the
condominium to smoth withiut disclosing the leak. Smith, a year
later, sells the condominium for a profit. Which statement applies?
◉ law of agency. Answer: Which of the following limits the actions of
brokers?
◉ He is guilty of a third degree felony. Answer: To help his
customers sell their property a morthahe broker agrees to hold an
open house and prepares an offer to purchase on a standard
contract for a fee of 250. Which statement is correct
◉ submit both offers to the principal. Answer: a brokers principal is
away on vacation. The broker received an offer of 75,999 for his
principal's property. Before the principals returns, theborker
receives a second offer of 72,000. What should the broker do?
◉ Broker Browns license may be suspended for not telling Smith.
Answer: Broker brown lisrs Smith's property for 20,000. broker
brown hears from a friend on the planning commission that they are
intending to put a highway right next to mr smiths property, making
it a corner lot. he doesnt tell him and lets his friend buy for profit.
Which is correct?
, ◉ the broker cannot tell the buyer of the lower price. Answer: A
seller lisrs a property at 75000 but tells the broker he will go as low
as 72,000
◉ trust and confidence when accepted. Answer: A fiduciary
relationship is one of:
◉ yes providing both parties are advised and approve. Answer: Can
a broker be entitled to two commissions when consummating an
exchange?
◉ concealment and fraud. Answer: A seller listed a property at a
price that the broker knew was below market value. The broker had
his wife buy the property in her maiden nane and subsequently
resold the property at a profit, What could the broker be charged
with?
◉ an arms length relationship. Answer: What kind of relationship
can a buyer and seller expect to have?
◉ dual agent. Answer: what is a lecensee with ful representation to
both parties referred as?
AND FINAL 2026 EXAM SCRIPT COMPLETE
QUESTIONS AND SOLUTIONS GRADED A+
◉ The one who engages the broker in a single agency relationship.
Answer: Who is the principal or employer?
◉ The listing did not give Bob the right to obligate Owen to Percy's
offer. Answer: Homowner owen signed an exlusive right of sale
listing with Bob, a registered broker. The listing states that Bob is
employed to find a purchaser and that Owen agrees to pay a 10%
commission to Bob or any person, partnership, Corporation or firm
that sells the property, The remainger of the listing deals with the
terms and conditions of the sale and duration of the listing. While
owen was away on vacantion, Percy made a written offer to urchase
the property at the listed price, terms and conditions. Bob, on behalf
of owner Owen, accepted Percy's offer and signed it for Owen. which
statement is correct?
◉ The broker is not entitled to a commission. Answer: Sales
associate John attends a cocktail party with his friend Bill to another
friend, Jack. It turns out that Jack has a house for sale, and Bill agrees
to purchase it. Sales associate John makes it clear that he want no
commission. Which statement is correct?
,◉ say nothing about the seller, and ask the buyer to make an offer.
Answer: A broker, while looking for a deal for his best friend, gets a
listing. The seller must sell because of family emergency. What
should the broker say to his best friend?
◉ submit the offer to a seller. Answer: If an oral offer is made to a
broker on a property the broker has listed, what should be the
broker's response?
◉ Tell the buyer before going into contact. Answer: If a broker is
aware of a construction lien on apeice of property, what should he or
she do?
◉ The broker is guilty of concealment. Answer: A broker lists a
proeprty for 30,000. The broker learnes of a new developmetn
which will be built beside the listed propery. The broker purchases
the porperty from the seller for the full lisred price and discloses the
fact that he is a licensed broker. The broker then sells the property to
the developer for 50,000 which sttment is correct?
◉ t1n, r1w. Answer: Which township is immediately west of t1n, r1e
◉ branch office. Answer: John smith is the broker of ABC realty. He is
preparing to open a branch office. All of the following items are
required on the branch office sign, except
,◉ the broker could be disciplined for concealment. Answer: Broker
Jones takes a listing on a condominium from Mr.Charles, he notified
jones that the roof leaks. Jones negotiations the sale of the
condominium to smoth withiut disclosing the leak. Smith, a year
later, sells the condominium for a profit. Which statement applies?
◉ law of agency. Answer: Which of the following limits the actions of
brokers?
◉ He is guilty of a third degree felony. Answer: To help his
customers sell their property a morthahe broker agrees to hold an
open house and prepares an offer to purchase on a standard
contract for a fee of 250. Which statement is correct
◉ submit both offers to the principal. Answer: a brokers principal is
away on vacation. The broker received an offer of 75,999 for his
principal's property. Before the principals returns, theborker
receives a second offer of 72,000. What should the broker do?
◉ Broker Browns license may be suspended for not telling Smith.
Answer: Broker brown lisrs Smith's property for 20,000. broker
brown hears from a friend on the planning commission that they are
intending to put a highway right next to mr smiths property, making
it a corner lot. he doesnt tell him and lets his friend buy for profit.
Which is correct?
, ◉ the broker cannot tell the buyer of the lower price. Answer: A
seller lisrs a property at 75000 but tells the broker he will go as low
as 72,000
◉ trust and confidence when accepted. Answer: A fiduciary
relationship is one of:
◉ yes providing both parties are advised and approve. Answer: Can
a broker be entitled to two commissions when consummating an
exchange?
◉ concealment and fraud. Answer: A seller listed a property at a
price that the broker knew was below market value. The broker had
his wife buy the property in her maiden nane and subsequently
resold the property at a profit, What could the broker be charged
with?
◉ an arms length relationship. Answer: What kind of relationship
can a buyer and seller expect to have?
◉ dual agent. Answer: what is a lecensee with ful representation to
both parties referred as?
