1
OREGON ASTHETIC LAW ACTUAL EXAM CURRENTLY
TESTING COMPLETE ACCURATE EXAM QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS)
/ALREADY GRADED A+
Mastering the laws relating to _________ can reduce misunderstandings and
litigation, especially in the areas of commissions through procuring cause,
conflicts of interest and representation. - (answers)agency
A broker is a person who: - (answers)a. Is employed by another person
b. Has the authority to act for that person
c. Has the authority to exercise some discretion while acting for another person
The person who hires or appoints an agent to act on their behalf is called a: -
(answers)principal
The relationship between the broker and their principal is referred to as: -
(answers)agency
Licensees are ____________ for their principal broker. - (answers)sub-agents
John, a broker for XYZ Realty LLC, has a listing with Mr. and Mrs. Brown for their
property on Lynnwood Place in Tigard, OR. Mr. and Mrs. Brown would be
considered: - (answers)a. the principals
b. the sellers
Universal brokers are granted the power to handle ________ affairs of the
principal. - (answers)all of the
, 2
The relationship between the principal broker and their affiliated licensee is the
best example of______________ broker agency. - (answers)general
The best example of _____________ would be a licensee who has taken a
listing for a seller. - (answers)specific agency
This person has the authority to exercise some discretion while acting for
another person. This person would be considered a
________________________. - (answers)broker
Which of the following would not be an example of a broker:
a. A real estate broker acting for a seller to sell a home
b. An investment counselor who invests other people's money
c. A financial planner who advises other persons on the best investment
opportunities
d. A closing agent - (answers)d. A closing agent
A fiduciary relationship is basically defined as the duty to deal with a client in
_________________. - (answers)trust and confidentiality
The listing broker knows that the lowest amount that the seller would be
willing to accept is $319,000 for their home. During an open house, a potential
buyer visits and asks the listing broker "what is the lowest price that the seller
will take for this home?" How should the listing broker respond? - (answers)Tell
the potential buyer to make a solid good offer
OREGON ASTHETIC LAW ACTUAL EXAM CURRENTLY
TESTING COMPLETE ACCURATE EXAM QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS)
/ALREADY GRADED A+
Mastering the laws relating to _________ can reduce misunderstandings and
litigation, especially in the areas of commissions through procuring cause,
conflicts of interest and representation. - (answers)agency
A broker is a person who: - (answers)a. Is employed by another person
b. Has the authority to act for that person
c. Has the authority to exercise some discretion while acting for another person
The person who hires or appoints an agent to act on their behalf is called a: -
(answers)principal
The relationship between the broker and their principal is referred to as: -
(answers)agency
Licensees are ____________ for their principal broker. - (answers)sub-agents
John, a broker for XYZ Realty LLC, has a listing with Mr. and Mrs. Brown for their
property on Lynnwood Place in Tigard, OR. Mr. and Mrs. Brown would be
considered: - (answers)a. the principals
b. the sellers
Universal brokers are granted the power to handle ________ affairs of the
principal. - (answers)all of the
, 2
The relationship between the principal broker and their affiliated licensee is the
best example of______________ broker agency. - (answers)general
The best example of _____________ would be a licensee who has taken a
listing for a seller. - (answers)specific agency
This person has the authority to exercise some discretion while acting for
another person. This person would be considered a
________________________. - (answers)broker
Which of the following would not be an example of a broker:
a. A real estate broker acting for a seller to sell a home
b. An investment counselor who invests other people's money
c. A financial planner who advises other persons on the best investment
opportunities
d. A closing agent - (answers)d. A closing agent
A fiduciary relationship is basically defined as the duty to deal with a client in
_________________. - (answers)trust and confidentiality
The listing broker knows that the lowest amount that the seller would be
willing to accept is $319,000 for their home. During an open house, a potential
buyer visits and asks the listing broker "what is the lowest price that the seller
will take for this home?" How should the listing broker respond? - (answers)Tell
the potential buyer to make a solid good offer
