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NYS Real Estate U Chapter 2 Exam 1: Questions & Answers: Latest Updated

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2024/2025 Written for academic year
Institution New York University
Course Real Estate
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A property was sold for $845,000. The total commission for the transaction was 6%. The listing broker and buyer's broker agreed to split the commission 50/50. What is the amount of commission paid to the buyer's broker...? A. 25350 B. 20350 C. 50700 D. 30350 (Ans- A. 25350 A general agent is typically granted more power than what other type of agent...? A. Universal Agent B. Legal Agent C. Special Agent D. Trust Agent (Ans- C. Special AgentThe broker, as a franchisee of a national brokerage, is considered what to the national brokerage...? A. Principal B. Sub-agent C. Associate Broker D. Agent (Ans- B. Sub-agent John, a real estate salesperson, has entered into an agency agreement with a client whose scope is limited to that described in the agreement. This level of authority suggests that John is what type of agent...? A. Universal Agent B. Narrow Agent C. Limited Agent D. Special Agent (Ans- D. Special Agent

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  • a property was sold for 845000 the total commis
  • a general agent is typically granted more power th
  • the broker as a franchisee of a national brokerag

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