Nebraska Real Estate Exam Prep -
National Questions and Complete
Solutions Graded A+
Licensee - Answer: The Agent is sometimes called the:
Principal - Answer: Is hired by the Client sometimes called the:
Customer - Answer: Sometimes called an unrepresentative person:
Special Agency - Answer: The Agent is "limited" to what they can do:
General Agency - Answer: The Agent who has the power to speak on behalf (make decisions for) their
client and bind them to decision the Agent makes:
Dual Agency - Answer: Agent that represents both the buyer and the seller or both the landlord and the
tenant in the same transaction:
Confidentiality, Care and Skill, Obedience, Accounting, Loyalty, Full Disclosure, Provide Information and
advice - Answer: Agent owes their client the following "Fiduciary Duties"
Disclose Agency, Avoid Misrepresentation, Provide Good Service, Write and present all written offers,
Provide information, but NO ADVICE - Answer: Agent owes their customer the following "Obligations"
Full Disclosure - Answer: Agent must keep their client informed of all matters relevant to the
transaction.
Completion of the objective, Expiration of Time, Relinquishment by the parties, Mutual agreement
between all the parties, Non- performance of one or more parties - Answer: Agency Relationships are
terminated when:
National Questions and Complete
Solutions Graded A+
Licensee - Answer: The Agent is sometimes called the:
Principal - Answer: Is hired by the Client sometimes called the:
Customer - Answer: Sometimes called an unrepresentative person:
Special Agency - Answer: The Agent is "limited" to what they can do:
General Agency - Answer: The Agent who has the power to speak on behalf (make decisions for) their
client and bind them to decision the Agent makes:
Dual Agency - Answer: Agent that represents both the buyer and the seller or both the landlord and the
tenant in the same transaction:
Confidentiality, Care and Skill, Obedience, Accounting, Loyalty, Full Disclosure, Provide Information and
advice - Answer: Agent owes their client the following "Fiduciary Duties"
Disclose Agency, Avoid Misrepresentation, Provide Good Service, Write and present all written offers,
Provide information, but NO ADVICE - Answer: Agent owes their customer the following "Obligations"
Full Disclosure - Answer: Agent must keep their client informed of all matters relevant to the
transaction.
Completion of the objective, Expiration of Time, Relinquishment by the parties, Mutual agreement
between all the parties, Non- performance of one or more parties - Answer: Agency Relationships are
terminated when:
