RE IDAHO PRACTICE BOOK QUIZESWITH COMPLETE
SOLUTIONS 100% VERIFIED
How many brokers may a salesperson work for at one time?
A. three
B. two
C. One
D. Unlimited - ANSWER C. One
Which of the following is a method of finding a sponsoring broker?
A. Watch for real estate signs
B. Check online sites and newspaper advertising in the areas you intend to service.
C. call the local Association of Realtors
D. All of the above. - ANSWER D. All of the above
What is the best example of a "sphere of influence"
A. Central location of a telecommunication company
B. People living outside an agent's city
C. Friends, family, neighbors, and business associates you know and contact regularly
D. Both b and c - ANSWER C. Friends, family, neighbors, and business associates you
know and contact regularly
A salesperson who is actively engaged in professional real estate activities:
, A. must have his or her own office.
B. must be employed by a licensed real estate broker.
C. must pay compensation directly to cooperating agents.
d. none of the above - ANSWER b. must be employed by a licensed real estate broker
A broker is required to have:
A. a trust account
B. an accounting system (disbursement ledger)
C. an escrow company
D. $300 of the broker's personal funds in the trust account - ANSWER b. an accounting
system (disbursement ledger)
The listing agreement can best be described as a(n):
a. dual agency
b. deposit receipt
c. employment contract
d. offer to buy - ANSWER c. employment contract
What is Broker's Error and Omission insurance?
a. insurance to protect the borrower against foreclosure
b. insurance to protect the seller against buyers' claims
c. insurance to protect the agent and broker against buyers' and sellers' claims
d. buyers' protection against earthquake damages - ANSWER c. insurance to protect
the agent and broker against buyers' and sellers' claims
SOLUTIONS 100% VERIFIED
How many brokers may a salesperson work for at one time?
A. three
B. two
C. One
D. Unlimited - ANSWER C. One
Which of the following is a method of finding a sponsoring broker?
A. Watch for real estate signs
B. Check online sites and newspaper advertising in the areas you intend to service.
C. call the local Association of Realtors
D. All of the above. - ANSWER D. All of the above
What is the best example of a "sphere of influence"
A. Central location of a telecommunication company
B. People living outside an agent's city
C. Friends, family, neighbors, and business associates you know and contact regularly
D. Both b and c - ANSWER C. Friends, family, neighbors, and business associates you
know and contact regularly
A salesperson who is actively engaged in professional real estate activities:
, A. must have his or her own office.
B. must be employed by a licensed real estate broker.
C. must pay compensation directly to cooperating agents.
d. none of the above - ANSWER b. must be employed by a licensed real estate broker
A broker is required to have:
A. a trust account
B. an accounting system (disbursement ledger)
C. an escrow company
D. $300 of the broker's personal funds in the trust account - ANSWER b. an accounting
system (disbursement ledger)
The listing agreement can best be described as a(n):
a. dual agency
b. deposit receipt
c. employment contract
d. offer to buy - ANSWER c. employment contract
What is Broker's Error and Omission insurance?
a. insurance to protect the borrower against foreclosure
b. insurance to protect the seller against buyers' claims
c. insurance to protect the agent and broker against buyers' and sellers' claims
d. buyers' protection against earthquake damages - ANSWER c. insurance to protect
the agent and broker against buyers' and sellers' claims
