GRI - Real Estate
Brokerage Exam
Questions and Complete
Solutions Graded A+
Denning [Date] [Course title]
, IABS serves what purpose? - Answer: A) To fill statutory requirements
B) Describe license holders
C) Increase transparency & broker oversight
D) Awareness of broker accountability
What is the primary purpose of TRELA (Texas Real Estate License Act) - Answer: -to PROTECT THE
PUBLIC from fraudulent or INCOMPETENT BROKERS.
What is the agent's Fiduciary Duty to a client? - Answer: -OLD CAR
Obedience
Loyalty
Disclosure
Confidentiality
Accounting
Responsible Care & Due Diligence
What does it mean to be Obedience? - Answer: -an agent is obligated to obey the directions of the
seller or buyer on matters that fall within authority of real estate services.
What does Undivided Loyalty mean? - Answer: -an agent places clients' interests above all interests,
including one's own.
Principal is also known as? - Answer: -a client
What is an Agency Relatiopship? - Answer: -1) listing agreement where the broker is employed by the
seller
2) buyers rep where the broker is employed by the buyer
Duty of Accounting? - Answer: -requires agent to account to the principal for all money and property of
the principal that comes into the agent's possession
Brokerage Exam
Questions and Complete
Solutions Graded A+
Denning [Date] [Course title]
, IABS serves what purpose? - Answer: A) To fill statutory requirements
B) Describe license holders
C) Increase transparency & broker oversight
D) Awareness of broker accountability
What is the primary purpose of TRELA (Texas Real Estate License Act) - Answer: -to PROTECT THE
PUBLIC from fraudulent or INCOMPETENT BROKERS.
What is the agent's Fiduciary Duty to a client? - Answer: -OLD CAR
Obedience
Loyalty
Disclosure
Confidentiality
Accounting
Responsible Care & Due Diligence
What does it mean to be Obedience? - Answer: -an agent is obligated to obey the directions of the
seller or buyer on matters that fall within authority of real estate services.
What does Undivided Loyalty mean? - Answer: -an agent places clients' interests above all interests,
including one's own.
Principal is also known as? - Answer: -a client
What is an Agency Relatiopship? - Answer: -1) listing agreement where the broker is employed by the
seller
2) buyers rep where the broker is employed by the buyer
Duty of Accounting? - Answer: -requires agent to account to the principal for all money and property of
the principal that comes into the agent's possession
