TREES REAL ESTATE EXAM
QUESTIONS AND ANSWERS WITH
VERIFIED SOLUTIONS 100% CORRECT
RATED A+
Q: What type of listing agreement allows a broker to earn a commission only if
they find the buyer, while the seller still retains the right to sell the property
themselves without paying a commission?
✔✔ Exclusive Agency Agreement
Q: What type of agent is a listing broker typically considered?
✔✔ Special Agent
Q: What is the name of the contract that outlines the expectations between a broker
and a licensee working under them?
✔✔ Independent Contractor Agreement
Q: A property manager typically acts as what type of agent?
✔✔ General Agent
Q: What role involves assisting both parties in a transaction without representing
either as a client?
✔✔ Facilitator
Q: Bob is a licensee showing a property to a buyer, but has no written agency
agreement with them. What is his role in this situation?
✔✔ Facilitator
Q: What type of listing agreement is illegal in many jurisdictions because it allows
the agent to keep anything over a certain price?
✔✔ Net Listing
Q: If a licensee has an exclusive right-to-sell listing and shows the property to an
unrepresented buyer, what is the agent’s role during that showing?
✔✔ Seller’s Agent
,Q: When you list a neighbor’s home under an exclusive right to sell agreement,
what is your legal relationship to that neighbor?
✔✔ The neighbor (seller) is your client
Q: What do antitrust laws in real estate prevent?
✔✔ Price fixing and other anti-competitive practices
Q: When can a salesperson advertise a property without including their
brokerage’s name?
✔✔ If the salesperson owns the property and is advertising it as a For Sale By
Owner (FSBO)
Q: Which of the following is not a fiduciary duty an agent owes to a client?
✔✔ Obeying all instructions without exception (e.g., illegal requests must not be
obeyed)
Q: A broker may not legally share commission with which of the following?
✔✔ A salesperson who is licensed under a different broker
Q: What does the term "single agent" refer to?
✔✔ An agent representing only one party in the transaction—either the buyer or
the seller
Q: Which statement is incorrect about fiduciaries?
✔✔ A fiduciary is a neutral party in the transaction
Q: What type of listing agreement ensures the broker receives a commission no
matter who finds the buyer?
✔✔ Exclusive Right to Sell Listing Agreement
Q: Under what condition can an affiliate broker represent both a buyer and a seller
in a transaction?
✔✔ Only if both parties provide informed written consent to dual agency
Q: What laws are designed to protect competition by banning illegal business
practices such as collusion?
✔✔ Antitrust Laws
, Q: Why must real estate sales agreements be written and signed to be enforceable?
✔✔ Due to the Statute of Frauds
Q: A lease must be in writing to be enforceable under which condition?
✔✔ If the lease term exceeds one year
A broker presents his seller with a written offer to purchase. The broker is
responsible for what - ANSWER✔✔Explaining the advantages and disadvantage
is of the offer to the seller
A broker must place earnest money in his - ANSWER✔✔Trust account
Mr. Tom Hollis and wife, Robbie Hollis, sellers, except an offer. They pass which
type of title to the buyer? - ANSWER✔✔Equitable title
To be valid a contract must have all the following elements except -
ANSWER✔✔Earnest money
A licensee must submit to the seller - ANSWER✔✔Every written offer
A drunk sign is a real estate contract to purchase a shopping center. You question
his ability to sign such an agreement but go ahead and submit the offer to the seller
who accepts. Which of the following is most correct? - ANSWER✔✔The vendee
May be released if he can prove his incapacity
You have just given an option to buy your house to your neighbor. Which of the
following statements does not correctly describe your agreement -
ANSWER✔✔You will have to return the option fee to your friend if he does not
buy the property
An installed chandelier would be best described as what - ANSWER✔✔Real
property
A real estate contract is what - ANSWER✔✔Bilateral and executory
An option agreement - ANSWER✔✔Encumbers the seller to sell
QUESTIONS AND ANSWERS WITH
VERIFIED SOLUTIONS 100% CORRECT
RATED A+
Q: What type of listing agreement allows a broker to earn a commission only if
they find the buyer, while the seller still retains the right to sell the property
themselves without paying a commission?
✔✔ Exclusive Agency Agreement
Q: What type of agent is a listing broker typically considered?
✔✔ Special Agent
Q: What is the name of the contract that outlines the expectations between a broker
and a licensee working under them?
✔✔ Independent Contractor Agreement
Q: A property manager typically acts as what type of agent?
✔✔ General Agent
Q: What role involves assisting both parties in a transaction without representing
either as a client?
✔✔ Facilitator
Q: Bob is a licensee showing a property to a buyer, but has no written agency
agreement with them. What is his role in this situation?
✔✔ Facilitator
Q: What type of listing agreement is illegal in many jurisdictions because it allows
the agent to keep anything over a certain price?
✔✔ Net Listing
Q: If a licensee has an exclusive right-to-sell listing and shows the property to an
unrepresented buyer, what is the agent’s role during that showing?
✔✔ Seller’s Agent
,Q: When you list a neighbor’s home under an exclusive right to sell agreement,
what is your legal relationship to that neighbor?
✔✔ The neighbor (seller) is your client
Q: What do antitrust laws in real estate prevent?
✔✔ Price fixing and other anti-competitive practices
Q: When can a salesperson advertise a property without including their
brokerage’s name?
✔✔ If the salesperson owns the property and is advertising it as a For Sale By
Owner (FSBO)
Q: Which of the following is not a fiduciary duty an agent owes to a client?
✔✔ Obeying all instructions without exception (e.g., illegal requests must not be
obeyed)
Q: A broker may not legally share commission with which of the following?
✔✔ A salesperson who is licensed under a different broker
Q: What does the term "single agent" refer to?
✔✔ An agent representing only one party in the transaction—either the buyer or
the seller
Q: Which statement is incorrect about fiduciaries?
✔✔ A fiduciary is a neutral party in the transaction
Q: What type of listing agreement ensures the broker receives a commission no
matter who finds the buyer?
✔✔ Exclusive Right to Sell Listing Agreement
Q: Under what condition can an affiliate broker represent both a buyer and a seller
in a transaction?
✔✔ Only if both parties provide informed written consent to dual agency
Q: What laws are designed to protect competition by banning illegal business
practices such as collusion?
✔✔ Antitrust Laws
, Q: Why must real estate sales agreements be written and signed to be enforceable?
✔✔ Due to the Statute of Frauds
Q: A lease must be in writing to be enforceable under which condition?
✔✔ If the lease term exceeds one year
A broker presents his seller with a written offer to purchase. The broker is
responsible for what - ANSWER✔✔Explaining the advantages and disadvantage
is of the offer to the seller
A broker must place earnest money in his - ANSWER✔✔Trust account
Mr. Tom Hollis and wife, Robbie Hollis, sellers, except an offer. They pass which
type of title to the buyer? - ANSWER✔✔Equitable title
To be valid a contract must have all the following elements except -
ANSWER✔✔Earnest money
A licensee must submit to the seller - ANSWER✔✔Every written offer
A drunk sign is a real estate contract to purchase a shopping center. You question
his ability to sign such an agreement but go ahead and submit the offer to the seller
who accepts. Which of the following is most correct? - ANSWER✔✔The vendee
May be released if he can prove his incapacity
You have just given an option to buy your house to your neighbor. Which of the
following statements does not correctly describe your agreement -
ANSWER✔✔You will have to return the option fee to your friend if he does not
buy the property
An installed chandelier would be best described as what - ANSWER✔✔Real
property
A real estate contract is what - ANSWER✔✔Bilateral and executory
An option agreement - ANSWER✔✔Encumbers the seller to sell
