ALABAMA RECIPROCAL EVALUATION TEST QUESTIONS AND ANSWERS SET A.pdf

ALABAMA RECIPROCAL EVALUATION TEST
QUESTIONS AND ANSWERS SET A+
✔✔Is a broker who provides property management services required to provide the
Real Estate Brokerage Services Disclosure form to every prospective tenant? - ✔✔no

✔✔Using the Consumer Information Booklet to disclose brokerage relationships to a
consumer is _____ - ✔✔optional

✔✔Using the Real Estate Brokerage Services Disclosure form to disclose brokerage
relationships to a consumer is _____. - ✔✔mandatory

✔✔When disclosing brokerage relationships to a consumer, a licensee must disclose
the _____. - ✔✔1. brokerage services available to real estate consumers
2. brokerage services provided by the licensee's company

✔✔In the absence of a written agreement, the relationship in effect between a licensee
and a consumer is _____. - ✔✔transaction brokerage

✔✔According to RECAD, having a written agency disclosure office policy is _____. -
✔✔mandatory

✔✔The agency disclosure office policy must be reviewed with each licensee _____. -
✔✔annually

✔✔Under common law, a licensee working with a customer owes the customer the
duties of _____. - ✔✔honesty, integrity, fairness, & disclosure of material facts

✔✔Under common law, a licensee owes his/her client the duties of _____. - ✔✔LOW
PAIN

, ✔✔The acronym used to remember the duties a licensee has to all parties according to
RECAD is _____. - ✔✔CASH WoW

✔✔The "C" in CASH WoW stands for _____. - ✔✔confidentiality

✔✔The "A" in CASH WoW stands for _____. - ✔✔Accountability

✔✔The "S" in CASH WoW stands for _____. - ✔✔skill and care

✔✔The "H" in CASH WoW stands for _____. - ✔✔honesty

✔✔The first "W" in CASH WoW stands for _____. - ✔✔written offers must be submitted

✔✔The second "W" in CASH WoW stands for _____. - ✔✔written disclosure of
personal interest in the property

✔✔Under RECAD, a licensee owes his/her client the duties of _____. - ✔✔loyalty,
obedience, informing the client, and CASH WoW

✔✔Under RECAD, a licensee working with a customer owes the customer the duties of
_____. - ✔✔CASH WoW

✔✔Under RECAD, a licensee who agrees to list a property must, at minimum, present
to the owner _____. - ✔✔all offers, counteroffers, and addenda

✔✔Which of the following is a licensee who lists property required to do under the
minimum services provision of RECAD? - ✔✔assist in negotiating offers, counteroffers,
and addenda

✔✔A broker who represents a seller makes a false statement to a potential buyer. The
seller is unaware of the false statement.In this situation, the seller is _____. - ✔✔not
liable for the false statement

✔✔A broker who represents a seller makes a false statement to a potential buyer. The
seller is aware that the false statement was made but does not say anything to the
buyer.In this situation, the seller is _____. - ✔✔liable for the false statement

✔✔A broker who represents a seller receives false information from the seller. The
broker is aware that the information is false, but he/she passes it along to a potential
buyer anyway.In this situation, the broker is _____. - ✔✔liable for the false statement

✔✔A broker who represents a seller receives false information from the seller. The
broker has no way of knowing that the information is false, and he/she passes it along