Real Estate Practice Exam Questions with Correct Answers Guaranteed Pass 100%

Real Estate Practice Exam Questions with Correct Answers Guaranteed Pass 100% 1. Brokerage definition... - Answer the business practice of bringing together the parties in a practice. 10. Special agent definition... - Answer the type of agency in which the principal authorizes the agent to represent the agent in "one specific transaction or business activity" 11. Which is not used to determine cost approach to estimate value? -Quantity Survey Method -Unit-in-Place Method -Square Foot Method -Gross Rent Multiplier Method - Answer Gross Rent Multiplier Method 13. All are characterisitics of a contract for a deed except... - Answer the buyer receives title when the contract is signed. 15. Entitlement to commission when transaction is not consummated. - Answer Except when listing broker does not disclose information 16. Can a salesperson give legal advice? - Answer No, not unless they are an attorney. 17. Who determines the commission in a listing contract? - Answer An agreement between the owner and broker