Exam Prep - State Portion IV - Trebs 2021
Questions and Answers 100% Solved
Senate Bill 489 was passed in 1996 and dealt with what issue?
A. The elimination of statutory dual agency and replacing it with intermediary
brokerage
B. The rules pertaining to eviction of tenants
C. The formation of a financial taskforce to study FHA loans
D. The elimination of the Sunset Commission The correct answer is A. The elimination
of statutory dual agency and replaced it with intermediary brokerage. That was the purpose of the
1996 Senate Bill 489.
T4. Intermediary brokerage laws were amended to prevail over common law in what year?
A. 2015
B. 2005
C. 1995
D. 1920 B. 2005. The amending of these brokerage laws made dual agency illegal.
,T4. ____________ means a broker who is employed to negotiate a transaction between the
parties to a transaction and for that purpose may act as an agent of the parties.
A. Seller's agent
B. Buyer's agent
C. Subagent
D. Intermediary D. Intermediary. Intermediary status was created by statute in 1996 to
acknowledge that a broker could be in the position of assisting two principals involved in the
same transaction. An intermediary is a broker who is employed to negotiate a transaction
between parties and acts as an agent of the parties. A broker who represents the buyer and the
seller in the same transaction must act as an intermediary.
T4. An agent owes a fiduciary duty to a client. These duties include obedience, loyalty,
disclosure, and confidentiality. Which one of these duties continues after the agency relationship
terminates?
A. Disclosure
B. Loyalty
C. Obedience
D. Confidentiality D. Confidentiality. Anything an agent learns in confidence is
confidential until the agent is given permission, in writing, to reveal the information.
, T4. Which one of the following is NOT one of the duties an agent owes to a client?
A. Obedience
B. Loyalty
C. Reasonable care
D. Hope D. Hope. The agent owes obedience, loyalty, disclosure, confidentiality,
accounting, and reasonable care to the client.
Under what circumstances is a listing broker not required to present an offer?
A. The broker has already presented one offer, and the seller is thinking about it.
B. The offer is for less than the listing price.
C. The broker thinks a better offer will be made tomorrow.
D. None of the above D. None of the above. A broker is required to present all offers
unless he has been told in writing by the seller not to present certain offers.
T4. The listing broker is required to sell the property and get the highest price for the seller, act
in the best interest of the buyer, and to verify the title for the buyer.
A. True
Questions and Answers 100% Solved
Senate Bill 489 was passed in 1996 and dealt with what issue?
A. The elimination of statutory dual agency and replacing it with intermediary
brokerage
B. The rules pertaining to eviction of tenants
C. The formation of a financial taskforce to study FHA loans
D. The elimination of the Sunset Commission The correct answer is A. The elimination
of statutory dual agency and replaced it with intermediary brokerage. That was the purpose of the
1996 Senate Bill 489.
T4. Intermediary brokerage laws were amended to prevail over common law in what year?
A. 2015
B. 2005
C. 1995
D. 1920 B. 2005. The amending of these brokerage laws made dual agency illegal.
,T4. ____________ means a broker who is employed to negotiate a transaction between the
parties to a transaction and for that purpose may act as an agent of the parties.
A. Seller's agent
B. Buyer's agent
C. Subagent
D. Intermediary D. Intermediary. Intermediary status was created by statute in 1996 to
acknowledge that a broker could be in the position of assisting two principals involved in the
same transaction. An intermediary is a broker who is employed to negotiate a transaction
between parties and acts as an agent of the parties. A broker who represents the buyer and the
seller in the same transaction must act as an intermediary.
T4. An agent owes a fiduciary duty to a client. These duties include obedience, loyalty,
disclosure, and confidentiality. Which one of these duties continues after the agency relationship
terminates?
A. Disclosure
B. Loyalty
C. Obedience
D. Confidentiality D. Confidentiality. Anything an agent learns in confidence is
confidential until the agent is given permission, in writing, to reveal the information.
, T4. Which one of the following is NOT one of the duties an agent owes to a client?
A. Obedience
B. Loyalty
C. Reasonable care
D. Hope D. Hope. The agent owes obedience, loyalty, disclosure, confidentiality,
accounting, and reasonable care to the client.
Under what circumstances is a listing broker not required to present an offer?
A. The broker has already presented one offer, and the seller is thinking about it.
B. The offer is for less than the listing price.
C. The broker thinks a better offer will be made tomorrow.
D. None of the above D. None of the above. A broker is required to present all offers
unless he has been told in writing by the seller not to present certain offers.
T4. The listing broker is required to sell the property and get the highest price for the seller, act
in the best interest of the buyer, and to verify the title for the buyer.
A. True
