Real Estate U Final Exam :Real Estate U Final Exam Questions: Real Estate U Final Exam Test Bank: Latest Updated A+ Score Guide

Which of the following should an agent recommend to their client as a means to verify the financial capabilities of the client...? (Ans- Have the buyer obtain a pre-approval letter from a lender The amount of commission paid to an agent for a residential rental transaction is typically based on a percentage of this amount...? (Ans- Total annual rent A person that provides services to another under terms specified in a contract or within a verbal agreement is known as an...? (Ans- Independent Contractor As a real estate agent working as an independent contractor, compensation is directly related to what...? (Ans- Sales Abby is a New York State real estate agent, specializing in condominium sales. According to State law, Abby's compensation is directly related to what...? (Ans- SalesKevin is a real estate agent in New York City. Over the past two months, Kevin has worked nearly 40 hours per week on average; however, he has not closed a deal in that time frame. How much did Kevin earn over the past two months while working as a real estate agent...? (Ans- He did not earn any money as his compensation is directly related to sales According to New York State law, an independent contractor agreement can NOT be signed under what condition...? (Ans- Duress Mark is an agent with City Brokers. Mark decides that he wants to leave City Brokers to work with another broker. Who is capable of terminating the independent contractor relationship that exists between Mark and City Brokers...? (Ans- Either Mark and/or City Brokers Which of the following is NOT a characteristic of an independent contractor relationship...? (Ans- The agent is entitled to health benefits