MY Real Estate School Unit 9
Which law has a feature that commercial email messages must include a means by which the
recipient can unsubscribe?
A)TCPA
B)FCC Act
C)COPPA
D)CAN-SPAM Act - ANS-CAN-SPAM Act.
The federal Controlling the Assault of Non-Solicited Pornography and Marketing Act of 2003,
known as the CAN-SPAM Act, prohibits junk emails. An important feature of this law, which
applies to commercial electronic mail messages, is that email solicitations must include a means
by which the recipient can unsubscribe from future messages.
An independent contractor and a broker can agree upon which of the following?
A)Sales meetings the contractor would need to attend
B)Compensation the contractor would receive
C)Number of hours the contractor would have to work
D)Work schedule the contractor would have to follow - ANS-ompensation the contractor would
receive.
Brokers may agree upon the compensation that their independent contractors will receive for
work not yet done, but they may not dictate working schedules or attendance at sales meetings.
Sales associate A and sales associate B work for the same firm. They agree to divide their
region into an eastern half and a western half; sales associate A will handle listings in the east,
and sales associate B will handle listings in the west. Which statement is TRUE?
A)The agreement constitutes illegal price-fixing.
B)The agreement does not violate antitrust laws.
C)The two sales associates have violated the Sherman Antitrust Act and are liable for treble
damages.
D)The two sales associates are guilty of a group boycott with regard to other sales associates in
their firm. - ANS-the agreement does not violate antitrust laws.
Because both sales associates are in the same firm, their agreement is not an intercompany
agreement to allocate markets; it is merely fixing responsibility within one company and is quite
proper and not subject to antitrust law.
Real estate license laws exist primarily to protect
A)consumers.
B)licensees from unlicensed individuals.
C)real estate firms.
, D)government agencies. - ANS-consumers.
The main objective of real estate license laws is to make sure that the rights of purchasers,
sellers, tenants, and owners are protected from unscrupulous or negligent practices.
The use of electronic signatures makes routine paperwork more efficient and has been
encouraged by adoption by most states of the
A)Uniform Brokerage Transactions Act.
B)Uniform Electronic Transactions Act.
C)real estate licensing laws.
D)Real Estate Transactions Act. - ANS-Uniform Electronic Transactions Act.
The Electronic Signatures in Global and National Commerce Act (E-Sign) applies to those
states that have not adopted UETA, and some sections of the law also apply to those states that
have adopted UETA.
A real estate sales associate who is an independent contractor, as opposed to an employee, will
have a substantial portion of the individual's income
A)subject to federal tax and withheld by the employer.
B)based on the number of hours worked.
C)determine eligibility for health insurance and workers' compensation.
D)based on sales production or other output. - ANS-based on sales production or other output.
An independent contractor's compensation will be based on sales production or other output
and not on the number of hours worked.
Under the Sherman Antitrust Act, the penalty for a person found guilty of fixing prices or
allocating markets is
A)a minimum of $100,000.
B)$50,000 per transaction up to a maximum of $500,000.
C)a maximum $1 million fine and 10 years in prison.
D)a maximum of $100 million. - ANS-a maximum $1 million fine and 10 years in prison.
For corporations, the penalty may be as high as $100 billion.
Assuming that the listing broker and selling broker split their commission from a transaction
equally, what was the sales price of the property if the commission rate was 6.5% and the listing
broker received $12,593.50?
A)$193,746
B)$387,492
C)$139,900
D)$256,200 - ANS-$387,492.
The problem can be solved using these two steps:
(1) Find the entire commission by doubling the listing broker's half: 2 × $12,593.50 = $25,187.
Which law has a feature that commercial email messages must include a means by which the
recipient can unsubscribe?
A)TCPA
B)FCC Act
C)COPPA
D)CAN-SPAM Act - ANS-CAN-SPAM Act.
The federal Controlling the Assault of Non-Solicited Pornography and Marketing Act of 2003,
known as the CAN-SPAM Act, prohibits junk emails. An important feature of this law, which
applies to commercial electronic mail messages, is that email solicitations must include a means
by which the recipient can unsubscribe from future messages.
An independent contractor and a broker can agree upon which of the following?
A)Sales meetings the contractor would need to attend
B)Compensation the contractor would receive
C)Number of hours the contractor would have to work
D)Work schedule the contractor would have to follow - ANS-ompensation the contractor would
receive.
Brokers may agree upon the compensation that their independent contractors will receive for
work not yet done, but they may not dictate working schedules or attendance at sales meetings.
Sales associate A and sales associate B work for the same firm. They agree to divide their
region into an eastern half and a western half; sales associate A will handle listings in the east,
and sales associate B will handle listings in the west. Which statement is TRUE?
A)The agreement constitutes illegal price-fixing.
B)The agreement does not violate antitrust laws.
C)The two sales associates have violated the Sherman Antitrust Act and are liable for treble
damages.
D)The two sales associates are guilty of a group boycott with regard to other sales associates in
their firm. - ANS-the agreement does not violate antitrust laws.
Because both sales associates are in the same firm, their agreement is not an intercompany
agreement to allocate markets; it is merely fixing responsibility within one company and is quite
proper and not subject to antitrust law.
Real estate license laws exist primarily to protect
A)consumers.
B)licensees from unlicensed individuals.
C)real estate firms.
, D)government agencies. - ANS-consumers.
The main objective of real estate license laws is to make sure that the rights of purchasers,
sellers, tenants, and owners are protected from unscrupulous or negligent practices.
The use of electronic signatures makes routine paperwork more efficient and has been
encouraged by adoption by most states of the
A)Uniform Brokerage Transactions Act.
B)Uniform Electronic Transactions Act.
C)real estate licensing laws.
D)Real Estate Transactions Act. - ANS-Uniform Electronic Transactions Act.
The Electronic Signatures in Global and National Commerce Act (E-Sign) applies to those
states that have not adopted UETA, and some sections of the law also apply to those states that
have adopted UETA.
A real estate sales associate who is an independent contractor, as opposed to an employee, will
have a substantial portion of the individual's income
A)subject to federal tax and withheld by the employer.
B)based on the number of hours worked.
C)determine eligibility for health insurance and workers' compensation.
D)based on sales production or other output. - ANS-based on sales production or other output.
An independent contractor's compensation will be based on sales production or other output
and not on the number of hours worked.
Under the Sherman Antitrust Act, the penalty for a person found guilty of fixing prices or
allocating markets is
A)a minimum of $100,000.
B)$50,000 per transaction up to a maximum of $500,000.
C)a maximum $1 million fine and 10 years in prison.
D)a maximum of $100 million. - ANS-a maximum $1 million fine and 10 years in prison.
For corporations, the penalty may be as high as $100 billion.
Assuming that the listing broker and selling broker split their commission from a transaction
equally, what was the sales price of the property if the commission rate was 6.5% and the listing
broker received $12,593.50?
A)$193,746
B)$387,492
C)$139,900
D)$256,200 - ANS-$387,492.
The problem can be solved using these two steps:
(1) Find the entire commission by doubling the listing broker's half: 2 × $12,593.50 = $25,187.
