Real Estate U Practice Exam 4 Questions and Answers 100% Correct

Real Estate U Practice Exam 4 Questions and Answers 100% Correct Real Estate U Practice Exam 4 Questions and Answers 100% Correct Real Estate U Practice Exam 4 Questions and Answers 100% Correct Real Estate U Practice Exam 4 Questions and Answers 100% Correct What happens to the salesperson's license if the license of their sponsoring broker is suspended? A.The license of the salesperson will also be suspended. B.The license of the salesperson will be revoked and the salesperson will be required to pay a fine. C.The license of the salesperson will automatically be moved under another sponsoring broker in the firm. D.The license of the salesperson will remain active. - ANSWER-The license of the salesperson will also be suspended How many years of experience does an individual need as a NYS real estate salesperson in order to quality to obtain their broker's license? A.1 year B.2 years C.3 years D.4 years - ANSWER-2 years A broker represents a seller in a transaction. If the seller tells the broker they must sell the property quickly due to financial hardship, the broker cannot reveal this information to a prospective buyer. Otherwise, the broker will violate which of the following fiduciary duties? A.Confidentiality B.Obedience C.Accountability D.Full disclosure - ANSWER-Confidentiality The real estate agent serves as a/an ........to their client. A.Fiduciary B.Attorney C.Consultant D.General agent - ANSWER-Fiduciary What type of agency gives complete authority over any activity of the principal? A.Special agency B.General agency C.Universal agency D.Express agency - ANSWER-Universal agency A property manager is an example of a/an .......agent.