Real Estate Test Exam Arizona
Questions and Answers 100% Pass
When does a salesperson have a listing? - ✔✔When the listing is signed.
A salesperson and a co-operating salesperson are representing both the buyer and the
seller, who would fiduciary be owed to? - ✔✔Both the buyer and the seller.
What do the seller and the listing broker have to agree on when listing a property? -
✔✔The ending date of the listing.
In an agency relationship, the primary ethical duty of a broker is to: - ✔✔Represent the
principal.
When a salesperson obtains a listing: - ✔✔It is property of the broker.
The law that governs the duty between an agent and the principal is called: - ✔✔Law of
Agency
Agency by Estoppel: - ✔✔Legally binding agency relationship that may arise where, in
fact, no formal agency agreement is in effect.
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,What would be presumed if the broker lists a property for sale, but then never
advertises, shows the property, or communicated to the seller in ANY way? - ✔✔The
broker has breached fiduciary and abandoned the listing.
What is not required for a listing contract to be valid? - ✔✔Commission rate.
A salesperson's right to compensation is based on: - ✔✔Having a valid license.
A broker and an unlicensed buyer are looking at the same house. what must the broker
disclose? - ✔✔He can buy the property if he discloses he has a license.
Who does the salesperson represent? - ✔✔The employing broker.
What would a brokers relationship to a seller be? - ✔✔Special
Who can sign a contract for a seller? - ✔✔An Attorney-In-Fact
As a salesperson, you write an offer on another broker's listing. What should you do? -
✔✔Contact the listing broker.
What type of listing would give the broker the least protection? - ✔✔An open listing.
A salesperson may enter into a dual agency provided this is: - ✔✔Disclosed to buy and
seller in writing.
What is the process of giving someone the right to sign your name? - ✔✔Power of
Attorney
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,Who gives the right for a party to act in behalf of another in negotiations? - ✔✔The
Principal
When a person hires another involving a relationship of trust and confidence, this is
called: - ✔✔Fiduciary
When a principal/agent relationship exists, the following parties would be involved: -
✔✔Seller/Broker
The term procuring cause would need to be proven most in which of the following? -
✔✔Open listings
When the listing broker dies, his son wishes to take over all the listings. the son must: -
✔✔Re-write and negotiate all listings
An exclusive right to sell listing is what type of contract? - ✔✔Executory Bilateral
An owner sold his listed property himself prior to the expiration of the exclusive agency
listing. the amount of commission owed is: - ✔✔Nothing
A broker acting as a property manager for an owner would consider his relationship to
be: - ✔✔Fiduciary
if a broker has a listing but the owner forgot to sign the document, the listing is: -
✔✔Unenforceable
A broker-Principal relationship is best described as: - ✔✔Fiduciary
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, seller hires a broker, the broker makes decisions for the seller without authority and
without notifying the seller. the broker is acting in which of the following types of
agency? - ✔✔Ostensible
Which type of listing would be considered more unilateral than bilateral? - ✔✔An open
listing
It is said that agency law is comprised of common law. this means: - ✔✔It is established
by tradition and court decisions.
In an agency relationship confidentiality is a part of what? - ✔✔Loyalty
a buyer asks the real estate agent if the property is located in a good area. the agent is
aware that the property is located in the highest crime area in the city. the agent tells the
buyer the property is located in a great area. this would be considered: - ✔✔Negligent
Misrepresentation
a listing broker owes the principal care, obedience,: - ✔✔accountability, loyalty, and
disclosure
most states discourage net listings because: - ✔✔incentive for the broker not to present
the offer
a puffing statement would be considered legal or illegal? - ✔✔legal.
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Questions and Answers 100% Pass
When does a salesperson have a listing? - ✔✔When the listing is signed.
A salesperson and a co-operating salesperson are representing both the buyer and the
seller, who would fiduciary be owed to? - ✔✔Both the buyer and the seller.
What do the seller and the listing broker have to agree on when listing a property? -
✔✔The ending date of the listing.
In an agency relationship, the primary ethical duty of a broker is to: - ✔✔Represent the
principal.
When a salesperson obtains a listing: - ✔✔It is property of the broker.
The law that governs the duty between an agent and the principal is called: - ✔✔Law of
Agency
Agency by Estoppel: - ✔✔Legally binding agency relationship that may arise where, in
fact, no formal agency agreement is in effect.
100% Pass Guarantee Olivia West, All Rights Reserved © 2025 1
,What would be presumed if the broker lists a property for sale, but then never
advertises, shows the property, or communicated to the seller in ANY way? - ✔✔The
broker has breached fiduciary and abandoned the listing.
What is not required for a listing contract to be valid? - ✔✔Commission rate.
A salesperson's right to compensation is based on: - ✔✔Having a valid license.
A broker and an unlicensed buyer are looking at the same house. what must the broker
disclose? - ✔✔He can buy the property if he discloses he has a license.
Who does the salesperson represent? - ✔✔The employing broker.
What would a brokers relationship to a seller be? - ✔✔Special
Who can sign a contract for a seller? - ✔✔An Attorney-In-Fact
As a salesperson, you write an offer on another broker's listing. What should you do? -
✔✔Contact the listing broker.
What type of listing would give the broker the least protection? - ✔✔An open listing.
A salesperson may enter into a dual agency provided this is: - ✔✔Disclosed to buy and
seller in writing.
What is the process of giving someone the right to sign your name? - ✔✔Power of
Attorney
100% Pass Guarantee Olivia West, All Rights Reserved © 2025 2
,Who gives the right for a party to act in behalf of another in negotiations? - ✔✔The
Principal
When a person hires another involving a relationship of trust and confidence, this is
called: - ✔✔Fiduciary
When a principal/agent relationship exists, the following parties would be involved: -
✔✔Seller/Broker
The term procuring cause would need to be proven most in which of the following? -
✔✔Open listings
When the listing broker dies, his son wishes to take over all the listings. the son must: -
✔✔Re-write and negotiate all listings
An exclusive right to sell listing is what type of contract? - ✔✔Executory Bilateral
An owner sold his listed property himself prior to the expiration of the exclusive agency
listing. the amount of commission owed is: - ✔✔Nothing
A broker acting as a property manager for an owner would consider his relationship to
be: - ✔✔Fiduciary
if a broker has a listing but the owner forgot to sign the document, the listing is: -
✔✔Unenforceable
A broker-Principal relationship is best described as: - ✔✔Fiduciary
100% Pass Guarantee Olivia West, All Rights Reserved © 2025 3
, seller hires a broker, the broker makes decisions for the seller without authority and
without notifying the seller. the broker is acting in which of the following types of
agency? - ✔✔Ostensible
Which type of listing would be considered more unilateral than bilateral? - ✔✔An open
listing
It is said that agency law is comprised of common law. this means: - ✔✔It is established
by tradition and court decisions.
In an agency relationship confidentiality is a part of what? - ✔✔Loyalty
a buyer asks the real estate agent if the property is located in a good area. the agent is
aware that the property is located in the highest crime area in the city. the agent tells the
buyer the property is located in a great area. this would be considered: - ✔✔Negligent
Misrepresentation
a listing broker owes the principal care, obedience,: - ✔✔accountability, loyalty, and
disclosure
most states discourage net listings because: - ✔✔incentive for the broker not to present
the offer
a puffing statement would be considered legal or illegal? - ✔✔legal.
100% Pass Guarantee Olivia West, All Rights Reserved © 2025 4
