kansas real estate
kansas real estate
Study online at https://quizlet.com/_8d32yb
1. The Statement of Representation should be included in every
hang prominently in the brokerage firm Real Estate Relationships
be included in every Real Estate Relationships Brochure
Brochure
not be included on personalized brochures
be included on all paperwork submitted to KREC
2. The Transaction Broker represents... neither the buyer or the
the brokerage firm seller
the state of Kansas
neither the buyer or the seller
the real estate agent
3. Customized brochures must contain the elements of? The Statement of Repre-
The Statement of Representation sentation and the roles
The roles and responsibilities of each party in any and responsibilities of
given transaction each party in the transac-
The Broker and/or Sellers responsibilities to the buy- tion
er
The Statement of Representation and the roles and
responsibilities of each party in the transaction
4. The Statement of Representation does not promise that an agent is working
the customer on your behalf
that an agent is working on your behalf
that they represent themselves
that a licensee is obligated to treat them honestly
that an agent must disclose all known adverse mater-
ial facts
5. Signed acknowledgment of the Brochure's receipt is
required before...
Page 1 of 71
, kansas real estate
kansas real estate
Study online at https://quizlet.com/_8d32yb
you discuss the homes that your brokerage offers a contract for sale or a lot
a contract for sale or a lot reservation is considered reservation is considered
legal legal
any property can be viewed
the closing of the contract or lot reservation agree-
ment
6. What is the most important part of the Real Estate The Statement of Repre-
Brokerage Relationships Brochure? sentation
Your contact information
The Statement of Brokerage Fiduciary Responsibility
The Statement of Representation
The Kansas satisfaction guaranteed seal provided by
KREC
7. What type of disclosure is required by Kansas law? Full disclosure of all possi-
Full disclosure of the names and addresses of the buy- ble relationships in a real
ers and sellers involved in the real estate transaction estate transaction
Full disclosure of the selling agent's relationship in the
real estate process
Full disclosure of the buyer's agent relationship in the
real estate process
Full disclosure of all possible relationships in a real
estate transaction
8. When should the Brokerage Relationships Brochure At the first practical oppor-
be presented? tunity
At the sale closing
Before a property is shown
At the first practical opportunity
The prospect must download the brochure them-
selves
Page 2 of 71
, kansas real estate
kansas real estate
Study online at https://quizlet.com/_8d32yb
9. What does KREC stand for? Kansas Real Estate Com-
Kansas Recreation Exercise Committee mission
Kansas Real Estate Commission
Kansas Responsible Education Committee
Kansas Royals Exploratory Committee
10. You do not need to provide a brochure when... the property for sale is
the property for sale is a commercial or publicly auc- a commercial or publicly
tioned property auctioned property
the customer tells you they received one at another
brokerage firm
you run out and the new shipment of brochures have
not arrived from KREC headquarters
you determine the customer is smart enough to un-
derstand the various roles in a real estate transaction
11. If a property is located in a floodplain it... must be disclosed as a
must be disclosed as a material fact material fact
must be disclosed during closing
is up to the buyer to hire a qualified third party to
survey the area
must be disclosed by the seller to any potential own-
ers
12. Any commission due the licensee must come from directly from and only
directly from the seller from the supervising bro-
the buyer of the property ker
KREC's salesperson reimbursement program
directly from and only from the supervising broker
13. An open listing allows... any licensed individual to
A brokerage firm to list the property openly for bids sell the property and earn
from the public a commission
Page 3 of 71
, kansas real estate
kansas real estate
Study online at https://quizlet.com/_8d32yb
the broker to receive a commission if the property
owner sells the home
any licensed individual to sell the property and earn a
commission
the listing to be made public after a short exclusivity
period with a broker
14. A title search is... requested by the buyer's
not needed in properties built since 1983 loan officer and necessary
provided by the seller's agent to complete the sale
requested by the buyer's loan officer and necessary to
complete the sale
provided by the buyer's agent as one of the many
services your brokerage offers
15. What is needed before a buyer or seller can be repre- A written agency agree-
sented by a broker? ment must exist between
A verbal agreement between the broker and the sell- the broker and client
er/ buyer is acceptable
A notarized letter of recreational intent given to the
broker by the client
Nothing is needed to before a broker can formally
represent a client
A written agency agreement must exist between the
broker and client
16. Net listings... are illegal in the state of
provide the best profit margin for the broker and Kansas
should be used often
are illegal in the state of Kansas
are listings posted on the internet, hence the name
Page 4 of 71
kansas real estate
Study online at https://quizlet.com/_8d32yb
1. The Statement of Representation should be included in every
hang prominently in the brokerage firm Real Estate Relationships
be included in every Real Estate Relationships Brochure
Brochure
not be included on personalized brochures
be included on all paperwork submitted to KREC
2. The Transaction Broker represents... neither the buyer or the
the brokerage firm seller
the state of Kansas
neither the buyer or the seller
the real estate agent
3. Customized brochures must contain the elements of? The Statement of Repre-
The Statement of Representation sentation and the roles
The roles and responsibilities of each party in any and responsibilities of
given transaction each party in the transac-
The Broker and/or Sellers responsibilities to the buy- tion
er
The Statement of Representation and the roles and
responsibilities of each party in the transaction
4. The Statement of Representation does not promise that an agent is working
the customer on your behalf
that an agent is working on your behalf
that they represent themselves
that a licensee is obligated to treat them honestly
that an agent must disclose all known adverse mater-
ial facts
5. Signed acknowledgment of the Brochure's receipt is
required before...
Page 1 of 71
, kansas real estate
kansas real estate
Study online at https://quizlet.com/_8d32yb
you discuss the homes that your brokerage offers a contract for sale or a lot
a contract for sale or a lot reservation is considered reservation is considered
legal legal
any property can be viewed
the closing of the contract or lot reservation agree-
ment
6. What is the most important part of the Real Estate The Statement of Repre-
Brokerage Relationships Brochure? sentation
Your contact information
The Statement of Brokerage Fiduciary Responsibility
The Statement of Representation
The Kansas satisfaction guaranteed seal provided by
KREC
7. What type of disclosure is required by Kansas law? Full disclosure of all possi-
Full disclosure of the names and addresses of the buy- ble relationships in a real
ers and sellers involved in the real estate transaction estate transaction
Full disclosure of the selling agent's relationship in the
real estate process
Full disclosure of the buyer's agent relationship in the
real estate process
Full disclosure of all possible relationships in a real
estate transaction
8. When should the Brokerage Relationships Brochure At the first practical oppor-
be presented? tunity
At the sale closing
Before a property is shown
At the first practical opportunity
The prospect must download the brochure them-
selves
Page 2 of 71
, kansas real estate
kansas real estate
Study online at https://quizlet.com/_8d32yb
9. What does KREC stand for? Kansas Real Estate Com-
Kansas Recreation Exercise Committee mission
Kansas Real Estate Commission
Kansas Responsible Education Committee
Kansas Royals Exploratory Committee
10. You do not need to provide a brochure when... the property for sale is
the property for sale is a commercial or publicly auc- a commercial or publicly
tioned property auctioned property
the customer tells you they received one at another
brokerage firm
you run out and the new shipment of brochures have
not arrived from KREC headquarters
you determine the customer is smart enough to un-
derstand the various roles in a real estate transaction
11. If a property is located in a floodplain it... must be disclosed as a
must be disclosed as a material fact material fact
must be disclosed during closing
is up to the buyer to hire a qualified third party to
survey the area
must be disclosed by the seller to any potential own-
ers
12. Any commission due the licensee must come from directly from and only
directly from the seller from the supervising bro-
the buyer of the property ker
KREC's salesperson reimbursement program
directly from and only from the supervising broker
13. An open listing allows... any licensed individual to
A brokerage firm to list the property openly for bids sell the property and earn
from the public a commission
Page 3 of 71
, kansas real estate
kansas real estate
Study online at https://quizlet.com/_8d32yb
the broker to receive a commission if the property
owner sells the home
any licensed individual to sell the property and earn a
commission
the listing to be made public after a short exclusivity
period with a broker
14. A title search is... requested by the buyer's
not needed in properties built since 1983 loan officer and necessary
provided by the seller's agent to complete the sale
requested by the buyer's loan officer and necessary to
complete the sale
provided by the buyer's agent as one of the many
services your brokerage offers
15. What is needed before a buyer or seller can be repre- A written agency agree-
sented by a broker? ment must exist between
A verbal agreement between the broker and the sell- the broker and client
er/ buyer is acceptable
A notarized letter of recreational intent given to the
broker by the client
Nothing is needed to before a broker can formally
represent a client
A written agency agreement must exist between the
broker and client
16. Net listings... are illegal in the state of
provide the best profit margin for the broker and Kansas
should be used often
are illegal in the state of Kansas
are listings posted on the internet, hence the name
Page 4 of 71
