Pan Post Licensing 301 Exam Questions
and Answers 100% Solved
A buyer decides not to sign an Exclusive Buyer Agency Agreement with a
firm, but still wants to see property without representation. The agent must:
- ✔✔Disclose all facts that are deemed material regarding the transaction
When a broker does not represent the buyer - ✔✔they can act as a seller's
subagent or agent of the seller. A broker must represent at least 1 party in
the transaction
A listing agent has knowledge of a "pending foreclosure" of a property and
does not disclose this information. The agent is guilty of: - ✔✔Willfull
Omission
Ann Agent is working with Bob Buyer and knows that Bob is willing to pay
the asking price of a property listed with her firm. She must keep this
confidential if - ✔✔She is a dual agent
When an agent is aware of personal / confidential information that could
weaken a client's bargaining position - ✔✔they are obligated to keep it
private (conceal the info), unless it rises to the level of material fact
1
©NINJANERD 2025/2026. YEAR PUBLISHED 2025.
,A broker that is representing the seller exclusively or as a designated
agent, and becomes aware of the fact that the buyer would pay more -
✔✔Has an obligation to disclose it to their client.
When an agency agreement terminates - ✔✔the broker is no longer
obligated to keep the clients information confidential if they are involved in
a transaction where they represent the seller.
When a brokers holding open house there is no obligation to disclose the
Working with Real Estate Agents Brochure unless - ✔✔the conversation
shifts from facts about the property to personal / confidential information.
When a buyer is requesting an individual showing - ✔✔this is considered
first substantial contact and therefore the broker must disclose the Working
with Real Estate Agents Brochure and determine the type of agency that
will be practiced.
WWREA brochure - ✔✔Even if the agent has created videos on his/her
website that explains the brochure, a copy must be provided and the agent
must have a meaningful conversation to ensure that the client/customer
understands.
Items that are always material facts - ✔✔a party not being able to perform,
meth lab, leaking polybutylene pipes, or a defect that the broker is aware of
2
©NINJANERD 2025/2026. YEAR PUBLISHED 2025.
, If seller is having financial problems - ✔✔is not a material fact unless it is
possible that they will not be able to close. The listing broker must keep
that information confidential (conceal it) , unless pre-foreclosure notice has
been received which makes it a material fact.
A broker must disclose material facts to - ✔✔all parties to the transaction
Misrepresentation vs omission - ✔✔will depend if something is said orally
or in writing
A prospective purchaser asks the showing broker, a subagent of the seller,
whether the seller would accept $5,000 less than the asking price. The
broker thinks that the seller would accept $7,000 less than the asking price.
How should the broker respond? - ✔✔I don't know. you will have to submit
an offer
A broker owes a client OLD CAR - ✔✔obedience
loyalty
disclosure
confidentiality
accounting and
reasonable skill, care and diligence.
3
©NINJANERD 2025/2026. YEAR PUBLISHED 2025.
and Answers 100% Solved
A buyer decides not to sign an Exclusive Buyer Agency Agreement with a
firm, but still wants to see property without representation. The agent must:
- ✔✔Disclose all facts that are deemed material regarding the transaction
When a broker does not represent the buyer - ✔✔they can act as a seller's
subagent or agent of the seller. A broker must represent at least 1 party in
the transaction
A listing agent has knowledge of a "pending foreclosure" of a property and
does not disclose this information. The agent is guilty of: - ✔✔Willfull
Omission
Ann Agent is working with Bob Buyer and knows that Bob is willing to pay
the asking price of a property listed with her firm. She must keep this
confidential if - ✔✔She is a dual agent
When an agent is aware of personal / confidential information that could
weaken a client's bargaining position - ✔✔they are obligated to keep it
private (conceal the info), unless it rises to the level of material fact
1
©NINJANERD 2025/2026. YEAR PUBLISHED 2025.
,A broker that is representing the seller exclusively or as a designated
agent, and becomes aware of the fact that the buyer would pay more -
✔✔Has an obligation to disclose it to their client.
When an agency agreement terminates - ✔✔the broker is no longer
obligated to keep the clients information confidential if they are involved in
a transaction where they represent the seller.
When a brokers holding open house there is no obligation to disclose the
Working with Real Estate Agents Brochure unless - ✔✔the conversation
shifts from facts about the property to personal / confidential information.
When a buyer is requesting an individual showing - ✔✔this is considered
first substantial contact and therefore the broker must disclose the Working
with Real Estate Agents Brochure and determine the type of agency that
will be practiced.
WWREA brochure - ✔✔Even if the agent has created videos on his/her
website that explains the brochure, a copy must be provided and the agent
must have a meaningful conversation to ensure that the client/customer
understands.
Items that are always material facts - ✔✔a party not being able to perform,
meth lab, leaking polybutylene pipes, or a defect that the broker is aware of
2
©NINJANERD 2025/2026. YEAR PUBLISHED 2025.
, If seller is having financial problems - ✔✔is not a material fact unless it is
possible that they will not be able to close. The listing broker must keep
that information confidential (conceal it) , unless pre-foreclosure notice has
been received which makes it a material fact.
A broker must disclose material facts to - ✔✔all parties to the transaction
Misrepresentation vs omission - ✔✔will depend if something is said orally
or in writing
A prospective purchaser asks the showing broker, a subagent of the seller,
whether the seller would accept $5,000 less than the asking price. The
broker thinks that the seller would accept $7,000 less than the asking price.
How should the broker respond? - ✔✔I don't know. you will have to submit
an offer
A broker owes a client OLD CAR - ✔✔obedience
loyalty
disclosure
confidentiality
accounting and
reasonable skill, care and diligence.
3
©NINJANERD 2025/2026. YEAR PUBLISHED 2025.
