Name: Score:
82 Multiple choice questions
Term 1 of 82
In Texas there is no ____ agency relationship with any party to a transaction.
Implied
Express
Verbal
Written
Term 2 of 82
One of the advantages of practicing intermediary is:
The brokerage only collects a flat fee
The brokerage does not charge any fees
The brokerage collects both the listing and selling commission
The brokerage charges a commission to the buyer only
Term 3 of 82
If a broker dies, what happens to the listing with the seller?
Remain neutral and refrain from providing advice and opinions to either party
It automatically terminates.
Cooperative (co-op)
The broker's fee.
,Term 4 of 82
In Texas, Worker's Compensation must be paid for real estate agents by brokers. T/F
False
Patience
client
definite
Term 5 of 82
Any stigma that relates to a material defect in a property must be______
Ignored
Disclosed
Concealed
Minimized
Term 6 of 82
What is MLS?
Multiple Listing Service (MLS)
Listing agreement
National Association Of realtors
Open listing
Term 7 of 82
According to TREC's advertising rules which of the following terms MUST be used in a real
estate team name?
Group
Intermediary
Corporate
Obedience
,Term 8 of 82
Agent Sean is working with a buyer that has chosen not to enter into an agency relationship
with him. If the buyer bought a house through Sean, who is representing the buyer?
Nobody, because the buyer is a customer.
The buyer's friend, who is advising them informally.
Agent sean, as he is still providing assistance.
The seller, since the buyer is not represented.
Term 9 of 82
All licensees are Realtors. T/F
Termination date
False
Trust
represented by another licensee
Term 10 of 82
The shared information from MLS can used by agents to prepare
Comparative Market Analysis
Express Authority
Appraisal
Open Listing
Term 11 of 82
Commission rates are set by?
honesty and fairness
seller, broker
the local board of realtorsò
client and broker
, Term 12 of 82
The individual who, through a series of uninterrupted activities or actions brought about the
completion of a contract is also known as___
The seller's representative in a contract
The procuring case of sale
The initiating party of a lease
The final buyer in a transaction
Term 13 of 82
If a broker represents the buyer's agent and the listing agent, the broker will:
favor the buyer and provide them with exclusive advice
represent the listing agent in all negotiations
advise both parties equally on how to negotiate
remain neutral and refrain from providing advice and opinions to either party
Term 14 of 82
If both the listing agent and the buyer's agent work for the same realty in a transaction, they are
most likely be acting as:
* the transaction must be an in house sale
* both parties to the transaction must be clients of the broker
* the broker must have written consent from both parties
appointed associates in an intermediary relationship
at the first substantive discussion of a real estate transaction
subagents of the brokerage firm
82 Multiple choice questions
Term 1 of 82
In Texas there is no ____ agency relationship with any party to a transaction.
Implied
Express
Verbal
Written
Term 2 of 82
One of the advantages of practicing intermediary is:
The brokerage only collects a flat fee
The brokerage does not charge any fees
The brokerage collects both the listing and selling commission
The brokerage charges a commission to the buyer only
Term 3 of 82
If a broker dies, what happens to the listing with the seller?
Remain neutral and refrain from providing advice and opinions to either party
It automatically terminates.
Cooperative (co-op)
The broker's fee.
,Term 4 of 82
In Texas, Worker's Compensation must be paid for real estate agents by brokers. T/F
False
Patience
client
definite
Term 5 of 82
Any stigma that relates to a material defect in a property must be______
Ignored
Disclosed
Concealed
Minimized
Term 6 of 82
What is MLS?
Multiple Listing Service (MLS)
Listing agreement
National Association Of realtors
Open listing
Term 7 of 82
According to TREC's advertising rules which of the following terms MUST be used in a real
estate team name?
Group
Intermediary
Corporate
Obedience
,Term 8 of 82
Agent Sean is working with a buyer that has chosen not to enter into an agency relationship
with him. If the buyer bought a house through Sean, who is representing the buyer?
Nobody, because the buyer is a customer.
The buyer's friend, who is advising them informally.
Agent sean, as he is still providing assistance.
The seller, since the buyer is not represented.
Term 9 of 82
All licensees are Realtors. T/F
Termination date
False
Trust
represented by another licensee
Term 10 of 82
The shared information from MLS can used by agents to prepare
Comparative Market Analysis
Express Authority
Appraisal
Open Listing
Term 11 of 82
Commission rates are set by?
honesty and fairness
seller, broker
the local board of realtorsò
client and broker
, Term 12 of 82
The individual who, through a series of uninterrupted activities or actions brought about the
completion of a contract is also known as___
The seller's representative in a contract
The procuring case of sale
The initiating party of a lease
The final buyer in a transaction
Term 13 of 82
If a broker represents the buyer's agent and the listing agent, the broker will:
favor the buyer and provide them with exclusive advice
represent the listing agent in all negotiations
advise both parties equally on how to negotiate
remain neutral and refrain from providing advice and opinions to either party
Term 14 of 82
If both the listing agent and the buyer's agent work for the same realty in a transaction, they are
most likely be acting as:
* the transaction must be an in house sale
* both parties to the transaction must be clients of the broker
* the broker must have written consent from both parties
appointed associates in an intermediary relationship
at the first substantive discussion of a real estate transaction
subagents of the brokerage firm
