CRES CONTRACTS & REGULATIONS 5
QUESTIONS WITH 100% ACCURATE ANSWERS
A listing agreement may be terminated for all but which of the following reasons?
a. sale of the property
b. agreement of the parties
c. death of the agent who took the listing
d. destruction of the premises - Accurate answers death of the agent who took the listing
If a broker as agent with an exclusive listing receives two offers for the same house at the same
time—one from his salesperson and one from the salesperson of a cooperating broker—the
broker should
a. submit his salesperson's offer to the seller
b. submit the highest offer
c. reject both offers
d. submit both offers - Accurate answers submit both offers
By executing a listing agreement with a seller, a licensed broker has
a. become a procuring cause
b. agreed to use diligence in procuring a buyer
c. subjected himself to a possible suit for specific performance
d. obligated himself to open a special trust account - Accurate answers agreed to use
diligence in procuring a buyer
When can you talk to a seller about listing his house if the house is listed with another broker?
a. five days before listing expires
b. the day after listing is taken
c. anytime, if the seller approaches you first
d. after the holdover period expires - Accurate answers anytime, if the seller approaches
you first
After a listing has expired, the original listing broker may be paid a commission under the terms
of the holdover clause in the original contract if
a. the broker had worked with the purchaser before the expiration date
b. the broker had disclosed the name of the purchaser to the sellers before the listing expired
c. the broker was the procuring cause for the purchaser
d. all of the above - Accurate answers all of the above
The Exclusive Right-to-Sell listing contract gives the listing broker the right to
a. sign the purchase agreement for the seller
b. collect deposits from the purchasers
c. deposit earnest money into operating bank account
, d. all of the above - Accurate answers collect deposits from the purchasers
Listing information
a. may be added outside the body of a contract as an attachment
b. can never be added outside the body of a contract
c. may be obtained after the listing agreement has been signed by the buyer and the broker
d. none of the above - Accurate answers may be added outside the body of a contract as
an attachment
Regarding the broker/seller relationship under the terms of an Exclusive Right-to-Sell listing
contract, which of the following statements are true?
a. The broker may be the seller's agent and a transaction broker for the buyer
b. The broker can take the listing without being an agent of the seller
c. The listing must have at least a 60 day holdover period
d. The listing has to be for at least thirty days - Accurate answers The broker can take the
listing without being an agent of the seller
The amount of commission a listing broker offers to cooperating brokers
a. is specified by antitrust law
b. is inserted into the listing contract
c. is regulated by MLS
d. is determined by the actual costs the respective brokers incur - Accurate answers is
inserted into the listing contract
Kevin, a real estate broker, sold a property and received a 6-1/2% commission. Kevin gave the
selling broker 30% of the commission, or $3,575. What was the selling price of the property?
a. 55000
b. 95775
c. 152580
d. 183333 - Accurate answers 183333
All of the following would permit a listing agreement to be terminated except
a. destruction of the listed property
b. the seller found out that the broker was listing other homes and as such was not "exclusive"
c. seller refusal to permit showings to minorities
d. a breach of the terms by the broker - Accurate answers the seller found out that the
broker was listing other homes and as such was not "exclusive"
A seller hired broker N under the terms of an open listing. While that listing was still in effect,
the seller without informing broker N, hired broker K under an exclusive right-to-sell listing for
the same property. If broker N produces a buyer for the property whose offer the seller
accepts, then the seller must pay a
a. full commission only to broker N
b. full commission only to broker K
QUESTIONS WITH 100% ACCURATE ANSWERS
A listing agreement may be terminated for all but which of the following reasons?
a. sale of the property
b. agreement of the parties
c. death of the agent who took the listing
d. destruction of the premises - Accurate answers death of the agent who took the listing
If a broker as agent with an exclusive listing receives two offers for the same house at the same
time—one from his salesperson and one from the salesperson of a cooperating broker—the
broker should
a. submit his salesperson's offer to the seller
b. submit the highest offer
c. reject both offers
d. submit both offers - Accurate answers submit both offers
By executing a listing agreement with a seller, a licensed broker has
a. become a procuring cause
b. agreed to use diligence in procuring a buyer
c. subjected himself to a possible suit for specific performance
d. obligated himself to open a special trust account - Accurate answers agreed to use
diligence in procuring a buyer
When can you talk to a seller about listing his house if the house is listed with another broker?
a. five days before listing expires
b. the day after listing is taken
c. anytime, if the seller approaches you first
d. after the holdover period expires - Accurate answers anytime, if the seller approaches
you first
After a listing has expired, the original listing broker may be paid a commission under the terms
of the holdover clause in the original contract if
a. the broker had worked with the purchaser before the expiration date
b. the broker had disclosed the name of the purchaser to the sellers before the listing expired
c. the broker was the procuring cause for the purchaser
d. all of the above - Accurate answers all of the above
The Exclusive Right-to-Sell listing contract gives the listing broker the right to
a. sign the purchase agreement for the seller
b. collect deposits from the purchasers
c. deposit earnest money into operating bank account
, d. all of the above - Accurate answers collect deposits from the purchasers
Listing information
a. may be added outside the body of a contract as an attachment
b. can never be added outside the body of a contract
c. may be obtained after the listing agreement has been signed by the buyer and the broker
d. none of the above - Accurate answers may be added outside the body of a contract as
an attachment
Regarding the broker/seller relationship under the terms of an Exclusive Right-to-Sell listing
contract, which of the following statements are true?
a. The broker may be the seller's agent and a transaction broker for the buyer
b. The broker can take the listing without being an agent of the seller
c. The listing must have at least a 60 day holdover period
d. The listing has to be for at least thirty days - Accurate answers The broker can take the
listing without being an agent of the seller
The amount of commission a listing broker offers to cooperating brokers
a. is specified by antitrust law
b. is inserted into the listing contract
c. is regulated by MLS
d. is determined by the actual costs the respective brokers incur - Accurate answers is
inserted into the listing contract
Kevin, a real estate broker, sold a property and received a 6-1/2% commission. Kevin gave the
selling broker 30% of the commission, or $3,575. What was the selling price of the property?
a. 55000
b. 95775
c. 152580
d. 183333 - Accurate answers 183333
All of the following would permit a listing agreement to be terminated except
a. destruction of the listed property
b. the seller found out that the broker was listing other homes and as such was not "exclusive"
c. seller refusal to permit showings to minorities
d. a breach of the terms by the broker - Accurate answers the seller found out that the
broker was listing other homes and as such was not "exclusive"
A seller hired broker N under the terms of an open listing. While that listing was still in effect,
the seller without informing broker N, hired broker K under an exclusive right-to-sell listing for
the same property. If broker N produces a buyer for the property whose offer the seller
accepts, then the seller must pay a
a. full commission only to broker N
b. full commission only to broker K
