Real Estate Practice Online Exam (First Tuesday) Latest
Update.
1. A real estate sales agent may be employed by: (Page 2) - > b) their broker
2. As a prerequisite to an agent's use of an income and expense data worksheet, the
agent asks a prospective broker: (Page 15) - > d) All of the above.
3. A ____ occurs when a broker or their agent has a professional or personal bias which
hinders their ability to fulfill the fiduciary duties owed to their client. (Page 45) - > b) conflict
of interest.
4. A _____ is sometimes referred to as a selling agent in real estate jargon. (Page 33) - >
a) buyer's agent
5. A broker who fails to disclose their dual agency is subject to: (Page 41) - > d) all of the
above
6. When a dual agency is established in a one-to-four unit residential sales transaction
(i.e., both parties are represented by the same broker) the broker and their agents may not
pass on any information from one party to the other relating to: (Page 41) - > c) both a and
b
7. Brokers supervise and police the business-related conduct of their agents by: - > d) All
of the above
8. The Agency Law Disclosure form is mandated to be presented to all parties by a broker
or their agent when listing, selling, buying or exchanging: (Page 54) - > c) both a and b
9. Failure of the seller's agent to provide the seller with the Agency Law Disclosure prior to
entering into a listing agreement: (Page 59) - > a) results in the loss of the broker fee on
the sale of challenge by the seller.
10. The _____ relationship established on entering into a listing agreement specifies the
scope of activities the broker and their agents are to undertake and authorizes the broker
to carry them out. (Page 64) - > c) employment
, 11. An _____ listing does not need to contain an expiration date. - > a) Open
12. An exclusive right-to-sell listing agreement entitled a broker to a fee from a seller
when: (Page 67) - > d) All of the above
13. Rejection occurs when: (Page 92) - > c) Both a and b
14. A withdrawal-from-sale clause entitles a broker to be paid a full listing fee if, during the
listing, the owner's conduct causes the property to be: (Page 97-98) - > d) All of above
15. On a breach by seller of a listing which does not contain a termination-of-agency
clause, the terminated broker is only entitled to: (Page 100) - > c)both a and b
16. A broker earns a fee under a safety clause when: (Page 105-106). - > d) All of the
above
17. The amount of the broker fee sought by a seller's agent on a property is implicitly
related to: (Page 124) - > c) the time and effort the agent spent servicing the listing
18. A Statement of Account for trust funds needs to include: (Page 127) - > c) Both a and c
19. "For Sale" signs posted outside of a mobilehome can be of a(n) _____ design and
need to face the street, but cannot extend into the street. (Page 132) - > a) A-frame
20. The legal basis for a broker's recovery against a seller for intentional interference with
the payment of a fee is a: (Page 169) - > b) tort law theory
21. Broker fee provisions in a buyer's listing agreement may include: (Page - > d) All of the
above
22. Judicially and based on legislation, A cooperating broker is defined as a subagent with
affirmative duties of cared owed: (Page - > a) The seller
23. A seller's broker does not have a contractual right to collect a fee from breaching buyer
when the broker lacks: - > c) Both a and b
Update.
1. A real estate sales agent may be employed by: (Page 2) - > b) their broker
2. As a prerequisite to an agent's use of an income and expense data worksheet, the
agent asks a prospective broker: (Page 15) - > d) All of the above.
3. A ____ occurs when a broker or their agent has a professional or personal bias which
hinders their ability to fulfill the fiduciary duties owed to their client. (Page 45) - > b) conflict
of interest.
4. A _____ is sometimes referred to as a selling agent in real estate jargon. (Page 33) - >
a) buyer's agent
5. A broker who fails to disclose their dual agency is subject to: (Page 41) - > d) all of the
above
6. When a dual agency is established in a one-to-four unit residential sales transaction
(i.e., both parties are represented by the same broker) the broker and their agents may not
pass on any information from one party to the other relating to: (Page 41) - > c) both a and
b
7. Brokers supervise and police the business-related conduct of their agents by: - > d) All
of the above
8. The Agency Law Disclosure form is mandated to be presented to all parties by a broker
or their agent when listing, selling, buying or exchanging: (Page 54) - > c) both a and b
9. Failure of the seller's agent to provide the seller with the Agency Law Disclosure prior to
entering into a listing agreement: (Page 59) - > a) results in the loss of the broker fee on
the sale of challenge by the seller.
10. The _____ relationship established on entering into a listing agreement specifies the
scope of activities the broker and their agents are to undertake and authorizes the broker
to carry them out. (Page 64) - > c) employment
, 11. An _____ listing does not need to contain an expiration date. - > a) Open
12. An exclusive right-to-sell listing agreement entitled a broker to a fee from a seller
when: (Page 67) - > d) All of the above
13. Rejection occurs when: (Page 92) - > c) Both a and b
14. A withdrawal-from-sale clause entitles a broker to be paid a full listing fee if, during the
listing, the owner's conduct causes the property to be: (Page 97-98) - > d) All of above
15. On a breach by seller of a listing which does not contain a termination-of-agency
clause, the terminated broker is only entitled to: (Page 100) - > c)both a and b
16. A broker earns a fee under a safety clause when: (Page 105-106). - > d) All of the
above
17. The amount of the broker fee sought by a seller's agent on a property is implicitly
related to: (Page 124) - > c) the time and effort the agent spent servicing the listing
18. A Statement of Account for trust funds needs to include: (Page 127) - > c) Both a and c
19. "For Sale" signs posted outside of a mobilehome can be of a(n) _____ design and
need to face the street, but cannot extend into the street. (Page 132) - > a) A-frame
20. The legal basis for a broker's recovery against a seller for intentional interference with
the payment of a fee is a: (Page 169) - > b) tort law theory
21. Broker fee provisions in a buyer's listing agreement may include: (Page - > d) All of the
above
22. Judicially and based on legislation, A cooperating broker is defined as a subagent with
affirmative duties of cared owed: (Page - > a) The seller
23. A seller's broker does not have a contractual right to collect a fee from breaching buyer
when the broker lacks: - > c) Both a and b
