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A real estate licensee who has listed a
property is a/an
A. general agent of the broker and a
special agent
to the
seller.
B. general agent of the broker and a
general agent
to the
seller.
C. universal agent of the broker and a
special agent to the seller.
D. universal agent of the broker and a
general agent to the seller. - ANSWER-a)
general agent of the broker and a special
agent to the seller
The total commission paid a brokerage firm was $33,500. The
firm was paid 7%
on the first
$200,000,
,6% on the next $200,000 and 5% on the remainder. What was the
sales price of
the
property?
A. $450,000
B. $550,000
C.
$650,000
D. $750,000 - ANSWER-B.
$550,000
$200,000 * 7% = $14,000
$200,000 * 6% = $12,000
$14,000 + $12,000 = $26,000
$33,500 - $26,000 = $7,500
$7,% = $150,000
$200,000 + $200,000 + $150,000 = $550,000
Agent Carrie received $937.50 as commission for a referral fee.
The listing agent paid 25% of her commission for the referral.
The total commission paid was 6%, which was split equally
between the listing and selling brokerage firms. If the listing
agent was
paid 50% of her firm's commission.
What was the sale price of the
property?
A. $150,000
B. $250,000
C. $300,000
, D. $350,000 - ANSWER-B. $250,000
$937.% =
$3,750
$3,% =
$7,500
$7,500 / 3% =
$250,000
Negligent misrepresentation occurs when
A. there is intentional misrepresentation of a
material fact by a broker in order to take
financial advantage of another.
B. the agent showing the property
exaggerates the property's benefits.
C. a broker should have known that a
statement about a material fact was false.
D. the broker or agent tells the seller to
intentional lie about a property defect so they
can get a quick sale. - ANSWER-C. a broker
should have known that a statement about a
material fact was false.
Buyers met an agent at an open house. In order to buy the
listed property, the
buyers needed to sell their house. The agent wrote an offer to
purchase with the
following terms. "Purchasers shall list purchasers property at
567 Main Street, Your Town, Your State with XYZ Realty within