RE Idaho Agency law Exam With Complete Solutions 100% Verified
A listing agreement with the seller in Idaho must have all prescribed information except -
ANSWER the commission split the listing will offer a cooperating broker
Broker A refers a buyer to broker B across the state What duties does broker A owe to
the buyer during the sale? - ANSWER NONE
All of your listings belong to whom? - ANSWER Your broker
In an office that allows for Limited Dual Agency with Assigned Agents how would the
broker herself work with a buyer client to buy an in-house listing of one of her agents?
ANSWER she would present the buyer with limited dual without assigned agents
In a sale the seller is a client of firm A and buyer is a client of firm B. What is true
regarding agency law? - ANSWER It is a single agency
May the broker work directly with the buyer or seller clients in a transaction if the other
client is being handled by another agent of the firm in an assigned agent scenario?
ANSWER No, the broker must remain the dual agent
Which is true of Limited Dual Agency with assigned agents? ANSWER each agent may
advocate fully for their client in the sale
If a builder also has an active idaho real estate license what must they do when they sell
their homes? - ANSWER disclose their licensee status on any purchase and sales
agreement
The term used to describe the special relationship of trust and confidence between
agent and principal is - ANSWER fiduciary
, When does a party become a client off the brokerage firm in Idaho? - ANSWER When
they sign an agency representation agreement
which is true of the statuary duties licensees owe to customers and clients? - ANSWER
They are mandatory and cannot be waived
Information obtained about a client of our firm must be held in confidence - ANSWER
from that time forward, even after the end of the relationship
a listing agent is an agent for the - ANSWER the seller
Idaho law requires an agency representation agreement to be signed no later than
when? - ANSWER Before signing an offer to purchase
when must the commission agency brochure be presented? - ANSWER at first
substantial business contact
How many people must be licensed in a firm to have an office policy that allow for
Limited dual agency with assigned agents? - ANSWER 3
What is the status of the final sales price of a property? - ANSWER It is not confidential
When we work with a client or a customer who has signed a compensation agreement,
we have a ______ to be available to present all offer and counters-offers - ANSWER A
duty
Which circumstance is not covered by the Idaho Psychologically Impacted Property
Law? - ANSWER The home was a clandestine drug laboratory
These are covered:
A listing agreement with the seller in Idaho must have all prescribed information except -
ANSWER the commission split the listing will offer a cooperating broker
Broker A refers a buyer to broker B across the state What duties does broker A owe to
the buyer during the sale? - ANSWER NONE
All of your listings belong to whom? - ANSWER Your broker
In an office that allows for Limited Dual Agency with Assigned Agents how would the
broker herself work with a buyer client to buy an in-house listing of one of her agents?
ANSWER she would present the buyer with limited dual without assigned agents
In a sale the seller is a client of firm A and buyer is a client of firm B. What is true
regarding agency law? - ANSWER It is a single agency
May the broker work directly with the buyer or seller clients in a transaction if the other
client is being handled by another agent of the firm in an assigned agent scenario?
ANSWER No, the broker must remain the dual agent
Which is true of Limited Dual Agency with assigned agents? ANSWER each agent may
advocate fully for their client in the sale
If a builder also has an active idaho real estate license what must they do when they sell
their homes? - ANSWER disclose their licensee status on any purchase and sales
agreement
The term used to describe the special relationship of trust and confidence between
agent and principal is - ANSWER fiduciary
, When does a party become a client off the brokerage firm in Idaho? - ANSWER When
they sign an agency representation agreement
which is true of the statuary duties licensees owe to customers and clients? - ANSWER
They are mandatory and cannot be waived
Information obtained about a client of our firm must be held in confidence - ANSWER
from that time forward, even after the end of the relationship
a listing agent is an agent for the - ANSWER the seller
Idaho law requires an agency representation agreement to be signed no later than
when? - ANSWER Before signing an offer to purchase
when must the commission agency brochure be presented? - ANSWER at first
substantial business contact
How many people must be licensed in a firm to have an office policy that allow for
Limited dual agency with assigned agents? - ANSWER 3
What is the status of the final sales price of a property? - ANSWER It is not confidential
When we work with a client or a customer who has signed a compensation agreement,
we have a ______ to be available to present all offer and counters-offers - ANSWER A
duty
Which circumstance is not covered by the Idaho Psychologically Impacted Property
Law? - ANSWER The home was a clandestine drug laboratory
These are covered:
