Quiz I-Practice Questions with Complete
Solutions 2026 Updated.
Not due because the agreement was not signed by the owner to be enforceable - Answer A
broker and an owner discussed several types of listing agreements and decided upon an
exclusive right to sell. The broker drafted the listing, but the owner did not sign. The broker
subsequently produced a willing buyer and demanded the commission from the owner based
upon the exclusive right to sell. The commission is:
a. Not due because the agreement was not signed by the owner to be enforceable
b. Not due because the unsigned agreement amounts to a net listing
c. Due because there is an implied contract between the broker and owner
d. Due because an oral agreement is all that is required for an exclusive right to sell to be
enforceable
Broker has done nothing wrong - Answer A broker listed a widows property for a 7%
commission. Later the widow discovers had been listing other properties at 6% commission.
Based on these facts:
a. Broker has done nothing wrong
b. Broker may loose his license
c. Widow can recover her loss's from the recovery fund
d. Widow is entitled to a refund
Automatically terminated - Answer A broker lists a property. The principal now declares
bankruptcy before the listing expires. What is now the declared status of the listing?
a. Not affected
b. Automatically terminated
, c. Principal owes the broker a commission
d. Principal would owe 1/2 the commission
Release of owners obligation to pay a commission - Answer A broker sold an apartment
building to an syndicate in which the broker was a member without informing the seller of his
interest. Before closing, the owner discovered the broker's interest and refused to sell. What
will result if the broker files suit to collect commissions?
a. Revocation of the Broker's license
b. Payment of a commission to broker
c. Release of owners obligation to pay a commission
d. an order of specific performance on behalf of the buyer
Exclusive Right to Sell Listing - Answer A broker who intends to be compensated if another
person sells the property during the listing period should acquire a/an:
a. Exclusive Right to Sell Listing
b. Open Listing
c. Exclusive Agency Listing
d. Net Listing
Notifying the owner in writing she is negotiating with a particular prospect - Answer A broker
with an open listing can help to protect their commission by:
a. Notifying the other brokers in the area of her prospect's name.
b. Notifying the owners in writing she is negotiating with a particular prospect
c. Notifying the prospect that any purchase must be made through her
Solutions 2026 Updated.
Not due because the agreement was not signed by the owner to be enforceable - Answer A
broker and an owner discussed several types of listing agreements and decided upon an
exclusive right to sell. The broker drafted the listing, but the owner did not sign. The broker
subsequently produced a willing buyer and demanded the commission from the owner based
upon the exclusive right to sell. The commission is:
a. Not due because the agreement was not signed by the owner to be enforceable
b. Not due because the unsigned agreement amounts to a net listing
c. Due because there is an implied contract between the broker and owner
d. Due because an oral agreement is all that is required for an exclusive right to sell to be
enforceable
Broker has done nothing wrong - Answer A broker listed a widows property for a 7%
commission. Later the widow discovers had been listing other properties at 6% commission.
Based on these facts:
a. Broker has done nothing wrong
b. Broker may loose his license
c. Widow can recover her loss's from the recovery fund
d. Widow is entitled to a refund
Automatically terminated - Answer A broker lists a property. The principal now declares
bankruptcy before the listing expires. What is now the declared status of the listing?
a. Not affected
b. Automatically terminated
, c. Principal owes the broker a commission
d. Principal would owe 1/2 the commission
Release of owners obligation to pay a commission - Answer A broker sold an apartment
building to an syndicate in which the broker was a member without informing the seller of his
interest. Before closing, the owner discovered the broker's interest and refused to sell. What
will result if the broker files suit to collect commissions?
a. Revocation of the Broker's license
b. Payment of a commission to broker
c. Release of owners obligation to pay a commission
d. an order of specific performance on behalf of the buyer
Exclusive Right to Sell Listing - Answer A broker who intends to be compensated if another
person sells the property during the listing period should acquire a/an:
a. Exclusive Right to Sell Listing
b. Open Listing
c. Exclusive Agency Listing
d. Net Listing
Notifying the owner in writing she is negotiating with a particular prospect - Answer A broker
with an open listing can help to protect their commission by:
a. Notifying the other brokers in the area of her prospect's name.
b. Notifying the owners in writing she is negotiating with a particular prospect
c. Notifying the prospect that any purchase must be made through her
