POST 301 BROKER RELATIONSHIPS AND
RESPONSIBILITIES REVIEW PAPER 2026
COMPLETE QUESTION SET ACCURATE
ANSWERS
◉ A buyer agent should do all of the following EXCEPT:.
Answer: Review the sellers' RPOADS and MOG and alert the buyer to
potential issues.
Urge the buyer to conduct any and all inspections or inquiries they
wish during the due diligence period and discuss the results of those
inspections with the buyer client.
Be proactive and engaged as an advisor/advocate when acting as an
exclusive buyer agent.
X Order and conduct inspections/investigations on behalf of their
buyer-clients during due diligence.
◉ Who of the following is NOT guilty of misrepresentation?.
,Answer: A seller who checks "no" on a mandatory property
disclosure document even though he knows there is a problem with
that feature.
A broker who, having made no attempt to verify the accuracy of
information from the seller, tells a prospective buyer incorrect
information.
X A seller who checks "no rep" on a mandatory property disclosure
document even though he knows there is a problem with that
feature.
A listing broker who in the MLS states "3265 SF per tax records"
when the actual square footage is 2800 square feet.
◉ Brokers must provide consumers the Working with Real Estate
Agents brochure in:.
Answer: All real estate sales transactions.
◉ The definition of "material fact" includes all of the following:.
Answer: Matters impacting or affecting the property.
Information about a principal's inability to perform his/her
contractual obligations.
,Matters known to be of particular importance to a prospective party.
◉ A provisional broker at her first listing presentation notices some
cracks in the foundation wall during the walk-through, but doesn't
ask her seller about them and says nothing in agent remarks. Seller
checks "no representation" on the property disclosure form. Who
may be guilty of omission?.
Answer: The listing agent was aware of a potential problem, yet
failed to inquire further or say anything to prospective buyers.
◉ All of the following may lead to an express or implied agency
agreement:.
Answer: An express agreement between the principal and agent
authorizing the agent to act on the principal's behalf.
The agent begins to advise the consumer and negotiate on their
behalf.
The broker begins gathering confidential information about the
consumer.
◉ A broker-listing agent is conducting an open house for her seller-
client. A former buyer-client with whom the broker had worked
previously attends. Later that afternoon the listing agent receives a
, written offer from that buyer. When presenting the offer to the seller,
the listing agent should:.
Answer: Share any information she has about the buyer with the
seller, including the buyer's financial ability or resources and needs
or desires.
◉ An agent who violates their fiduciary duties to their principal
(client) may be subject to all of the following consequences:.
Answer: Civil liability.
Disciplinary action by the NCREC.
An ethics complaint if the agent is a REALTOR member.
◉ A broker must disclose their agency status at INITIAL contact
with a consumer or broker in which of the following situations?.
Answer: A buyer agent upon contacting the seller or listing agent
directly.
** When you represent the buyer you must disclose agency ASAP!
◉ "First substantial contact" occurs in all of the following:.
Answer: X The consumer asks for property information that is public
record.
RESPONSIBILITIES REVIEW PAPER 2026
COMPLETE QUESTION SET ACCURATE
ANSWERS
◉ A buyer agent should do all of the following EXCEPT:.
Answer: Review the sellers' RPOADS and MOG and alert the buyer to
potential issues.
Urge the buyer to conduct any and all inspections or inquiries they
wish during the due diligence period and discuss the results of those
inspections with the buyer client.
Be proactive and engaged as an advisor/advocate when acting as an
exclusive buyer agent.
X Order and conduct inspections/investigations on behalf of their
buyer-clients during due diligence.
◉ Who of the following is NOT guilty of misrepresentation?.
,Answer: A seller who checks "no" on a mandatory property
disclosure document even though he knows there is a problem with
that feature.
A broker who, having made no attempt to verify the accuracy of
information from the seller, tells a prospective buyer incorrect
information.
X A seller who checks "no rep" on a mandatory property disclosure
document even though he knows there is a problem with that
feature.
A listing broker who in the MLS states "3265 SF per tax records"
when the actual square footage is 2800 square feet.
◉ Brokers must provide consumers the Working with Real Estate
Agents brochure in:.
Answer: All real estate sales transactions.
◉ The definition of "material fact" includes all of the following:.
Answer: Matters impacting or affecting the property.
Information about a principal's inability to perform his/her
contractual obligations.
,Matters known to be of particular importance to a prospective party.
◉ A provisional broker at her first listing presentation notices some
cracks in the foundation wall during the walk-through, but doesn't
ask her seller about them and says nothing in agent remarks. Seller
checks "no representation" on the property disclosure form. Who
may be guilty of omission?.
Answer: The listing agent was aware of a potential problem, yet
failed to inquire further or say anything to prospective buyers.
◉ All of the following may lead to an express or implied agency
agreement:.
Answer: An express agreement between the principal and agent
authorizing the agent to act on the principal's behalf.
The agent begins to advise the consumer and negotiate on their
behalf.
The broker begins gathering confidential information about the
consumer.
◉ A broker-listing agent is conducting an open house for her seller-
client. A former buyer-client with whom the broker had worked
previously attends. Later that afternoon the listing agent receives a
, written offer from that buyer. When presenting the offer to the seller,
the listing agent should:.
Answer: Share any information she has about the buyer with the
seller, including the buyer's financial ability or resources and needs
or desires.
◉ An agent who violates their fiduciary duties to their principal
(client) may be subject to all of the following consequences:.
Answer: Civil liability.
Disciplinary action by the NCREC.
An ethics complaint if the agent is a REALTOR member.
◉ A broker must disclose their agency status at INITIAL contact
with a consumer or broker in which of the following situations?.
Answer: A buyer agent upon contacting the seller or listing agent
directly.
** When you represent the buyer you must disclose agency ASAP!
◉ "First substantial contact" occurs in all of the following:.
Answer: X The consumer asks for property information that is public
record.
