Real Estate Practice: Online Exam
1. A real estate sales agent may be employed by: (Page 2) - ANS 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) - ANS 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) - ANS b) conflict of interest.
4. A _____ is sometimes referred to as a selling agent in real estate jargon. (Page 33) - ANS a) buyer's
agent
5. A broker who fails to disclose their dual agency is subject to: (Page 41) - ANS 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) - ANS c) both a and b
7. Brokers supervise and police the business-related conduct of their agents by: - ANS 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) - ANS 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) - ANS 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) - ANS c) employment
11. An _____ listing does not need to contain an expiration date. - ANS a) Open
12. An exclusive right-to-sell listing agreement entitled a broker to a fee from a seller when: (Page
67) - ANS d) All of the above
13. Rejection occurs when: (Page 92) - ANS 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) - ANS 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) - ANS c)both a and b
16. A broker earns a fee under a safety clause when: (Page 105-106). - ANS 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) - ANS c) the time and effort the agent spent servicing the listing
18. A Statement of Account for trust funds needs to include: (Page 127) - ANS 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) - ANS 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) - ANS b) tort law theory
21. Broker fee provisions in a buyer's listing agreement may include: (Page - ANS 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 - ANS 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: - ANS c) Both a and b
24. When a buyer and seller both agree in writing to the payment of a broker fee, _____ are
considered third party beneficiaries. - ANS c) their brokers
25. All assurances to pay a broker fee on a real estate transaction are required by the to be in writing
and signed by the person who agreed a fee will be paid. - ANS b) Statute of Frauds
26. Of all the various fee arrangements available to brokers for payment of their fees, _____ leave
the broker with the least assurance the fee will be paid on close of escrow. - ANS a) Unilateral fee
instructions signed only by the seller
27. A finder providing referral services for a fee may: - ANS d) Any of the above
28. All records of an agents' activities on behalf of a client during the listing period need to be
retained by the agents' broker for: - ANS b) three years
29. A seller's agent on a one-to-four residential property owes an affirmative duty to a prospective
buyer to gather information regarding: - ANS d) Neither A nor B
30. On completing a reasonably diligent visuals inspection of a one-to-four unit residential property,
a seller's agent needs to note on the seller's Transfer Disclosure Statement (TDS): - ANS c) Both A
and B
31. When an agent holds themselves out to be specifically qualified in the subject matter expressed
in am opinion, their opinion becomes: - ANS c) Both A and B
32. A(n) _________ set out in an Annual Property Operating Data Sheet is based exclusively on the
income and expenses actually incurred by the owner of the property during the preceding 12-month
period. - ANS a) projection
33. When the Transfer Disclosure Statement (TDS) is delivered to a buyer after the seller enters into
a purchase agreement, the buyer may. - ANS c) Either A and B
34. Transactions which exempt a seller, but not the seller's agent, from preparing and delivering the
statutory TDS to a buyer include: - ANS a) A transfer by judicial foreclosure or trustee's sale.
35. Condominium and apartment projects are required to: - ANS b) Post signs indicating whether or
not lifeguard services are available.
36. Notice of any environmental hazard is delivered to a buyer by a seller in writing on a: - ANS d)
Transfer Disclosure Statement (TDS) and purchase agreement.
1. A real estate sales agent may be employed by: (Page 2) - ANS 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) - ANS 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) - ANS b) conflict of interest.
4. A _____ is sometimes referred to as a selling agent in real estate jargon. (Page 33) - ANS a) buyer's
agent
5. A broker who fails to disclose their dual agency is subject to: (Page 41) - ANS 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) - ANS c) both a and b
7. Brokers supervise and police the business-related conduct of their agents by: - ANS 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) - ANS 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) - ANS 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) - ANS c) employment
11. An _____ listing does not need to contain an expiration date. - ANS a) Open
12. An exclusive right-to-sell listing agreement entitled a broker to a fee from a seller when: (Page
67) - ANS d) All of the above
13. Rejection occurs when: (Page 92) - ANS 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) - ANS 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) - ANS c)both a and b
16. A broker earns a fee under a safety clause when: (Page 105-106). - ANS 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) - ANS c) the time and effort the agent spent servicing the listing
18. A Statement of Account for trust funds needs to include: (Page 127) - ANS 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) - ANS 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) - ANS b) tort law theory
21. Broker fee provisions in a buyer's listing agreement may include: (Page - ANS 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 - ANS 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: - ANS c) Both a and b
24. When a buyer and seller both agree in writing to the payment of a broker fee, _____ are
considered third party beneficiaries. - ANS c) their brokers
25. All assurances to pay a broker fee on a real estate transaction are required by the to be in writing
and signed by the person who agreed a fee will be paid. - ANS b) Statute of Frauds
26. Of all the various fee arrangements available to brokers for payment of their fees, _____ leave
the broker with the least assurance the fee will be paid on close of escrow. - ANS a) Unilateral fee
instructions signed only by the seller
27. A finder providing referral services for a fee may: - ANS d) Any of the above
28. All records of an agents' activities on behalf of a client during the listing period need to be
retained by the agents' broker for: - ANS b) three years
29. A seller's agent on a one-to-four residential property owes an affirmative duty to a prospective
buyer to gather information regarding: - ANS d) Neither A nor B
30. On completing a reasonably diligent visuals inspection of a one-to-four unit residential property,
a seller's agent needs to note on the seller's Transfer Disclosure Statement (TDS): - ANS c) Both A
and B
31. When an agent holds themselves out to be specifically qualified in the subject matter expressed
in am opinion, their opinion becomes: - ANS c) Both A and B
32. A(n) _________ set out in an Annual Property Operating Data Sheet is based exclusively on the
income and expenses actually incurred by the owner of the property during the preceding 12-month
period. - ANS a) projection
33. When the Transfer Disclosure Statement (TDS) is delivered to a buyer after the seller enters into
a purchase agreement, the buyer may. - ANS c) Either A and B
34. Transactions which exempt a seller, but not the seller's agent, from preparing and delivering the
statutory TDS to a buyer include: - ANS a) A transfer by judicial foreclosure or trustee's sale.
35. Condominium and apartment projects are required to: - ANS b) Post signs indicating whether or
not lifeguard services are available.
36. Notice of any environmental hazard is delivered to a buyer by a seller in writing on a: - ANS d)
Transfer Disclosure Statement (TDS) and purchase agreement.
