Overview Notes Exam Questions and
Answers 100% Solved
When does confidentiality end for a client? - ✔✔Never, unless you have a
duty to disclose to a new client. (e.g., You represented a buyer client three
years ago. You just signed a new seller client who knows your former buyer
client and asks you how the buyer was able to pay cash for their property.
Even though you know that the buyer came into a large inheritance, you do
not disclose this to your new client.)
Self Dealing - ✔✔Occurs when a broker has an undisclosed interest in a
property
North Carolina's Unfair and Deceptive Trade Practices Act - ✔✔Prohibits
unfair or deceptive practices in commerce. (I.e giving misleading opinions
or false inducements, failing to disclose material facts, using misleading
advertising, making misrepresentations.)
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,.When you use a comparative market analysis to calculate a suggested
listing price range for a particular property, which of the following actions
will you take?
A.Adjust prices from all properties listed or sold within a one-mile radius of
the subject property.
B.Calculate a price range based on data from expired listings and pending
sales.
C.Use adjusted prices from comparables and refine a range using active
listings, expired listings, and possibly pending listings.
D.Use adjusted prices from comparables and refine a range using active
listings, expired listings, and possibly pending listings. - ✔✔C. Use adjusted
prices from comparables and refine a range using active listings, expired
listings, and possibly pending listings.
Trinity represents a buyer who is interested in one of Trinity's new listings.
Which of these statements about dual agency consent is correct?
A. Only the seller's consent must be in writing throughout the transaction.
B. The buyer's verbal consent is adequate until an offer to the seller is
accepted.
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, C. Trinity must obtain written dual agency consent from both parties before
presenting an offer from the buyer to the seller.
D. Trinity must obtain written dual agency consent from both parties before
showing the house to this buyer. - ✔✔C. Trinity must obtain written dual
agency consent from both parties before presenting an offer from the buyer
to the seller.
Which one of the following is an example of a North Carolina seller's agent
carrying out the duty of loyalty?
A. Harry ensures his clients know about any potential issues that might
interfere with a smooth transaction, including any possible conflicts of
interest Harry might have.
B. Jared receives an offer from a buyer and makes some reasonable
inquiries into that buyer's financial readiness.
C. Lindsay advises her client against reducing the sale price on the listing,
but then processes the discount as her client requested.
D. Sandra refuses to share information about her client's motivation to sell
with the buyer's agent, even when asked. - ✔✔C. Lindsay advises her
client against reducing the sale price on the listing, but then processes the
discount as her client requested.
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