BARNEY FLETCHER
CRAM FINAL EXAM
• A seller wants to list the property with a broker, but wants to
avoid paying any commission should the seller be fortunate
enough to sell the property. himself. Which of the following
should the seller avoid signing?
• an exclusive agency listing
• an exclusive right to sell listing
• an open listing
• all listings ANSWER B. an exclusive right to sell listing
,• Mr. Smith listed his farm with broker Bob. Although Smith
did not tell him, Bob knew he had to sell due to poor health.
What should Bob tell potential buyers?
• tell them of the illness only if they ask, but not the need to sell
• tell them of the need to sell to insure a quick sale
• do not tell them even though it appears that Smith's death
is imminent
• in order to sell quickly, tell them that the seller is ill
because death would cancel the listing ANSWER C. do
not tell them even though it appears that Smith's death is
imminent
• In a cooperative sale, where the listing broker and the
selling broker repre- sent the seller, the selling broker has
which of the following relationships?
• agent of the listing broker
• sub agent of the listing broker
,• agent of the seller
• sub agent of the buyer ANSWER A. agent of the listing
broker
• A broker had an exclusive right to sell agency listing. In
order to collect the commission, he must:
• prove he was the procuring agent
• prove he was licensed at the time of the sale
• prove he had a ready, willing, and able buyer that met the
seller's terms
• all of the above ANSWER B. prove he was licensed at the
time of the sale
• A broker estimated the property lines by stating it ran
between two trees in the back yard. After closing, the buyer
found it was over six feet off. Is the
broker liable?
, • no, he gave an estimate
• no, the buyer should have gotten a survey
• yes, he made a statement which he realized could be false
• yes, the broker should have surveyed the property
himself ANSWER C. yes, he made a statement which
he realized could be false
• Smith has an exclusive listing with broker Jones for $220,000.
Jones finds
a buyer who wants representation and Jones represents both
Smith and the buyer, verbally disclosing that he is now
representing both as clients. Has Jones violated license law?
• yes, because this is sub agency
• yes, because this is undisclosed dual agency
• no, because he disclosed to all parties that neither had to
consent to dual agency
CRAM FINAL EXAM
• A seller wants to list the property with a broker, but wants to
avoid paying any commission should the seller be fortunate
enough to sell the property. himself. Which of the following
should the seller avoid signing?
• an exclusive agency listing
• an exclusive right to sell listing
• an open listing
• all listings ANSWER B. an exclusive right to sell listing
,• Mr. Smith listed his farm with broker Bob. Although Smith
did not tell him, Bob knew he had to sell due to poor health.
What should Bob tell potential buyers?
• tell them of the illness only if they ask, but not the need to sell
• tell them of the need to sell to insure a quick sale
• do not tell them even though it appears that Smith's death
is imminent
• in order to sell quickly, tell them that the seller is ill
because death would cancel the listing ANSWER C. do
not tell them even though it appears that Smith's death is
imminent
• In a cooperative sale, where the listing broker and the
selling broker repre- sent the seller, the selling broker has
which of the following relationships?
• agent of the listing broker
• sub agent of the listing broker
,• agent of the seller
• sub agent of the buyer ANSWER A. agent of the listing
broker
• A broker had an exclusive right to sell agency listing. In
order to collect the commission, he must:
• prove he was the procuring agent
• prove he was licensed at the time of the sale
• prove he had a ready, willing, and able buyer that met the
seller's terms
• all of the above ANSWER B. prove he was licensed at the
time of the sale
• A broker estimated the property lines by stating it ran
between two trees in the back yard. After closing, the buyer
found it was over six feet off. Is the
broker liable?
, • no, he gave an estimate
• no, the buyer should have gotten a survey
• yes, he made a statement which he realized could be false
• yes, the broker should have surveyed the property
himself ANSWER C. yes, he made a statement which
he realized could be false
• Smith has an exclusive listing with broker Jones for $220,000.
Jones finds
a buyer who wants representation and Jones represents both
Smith and the buyer, verbally disclosing that he is now
representing both as clients. Has Jones violated license law?
• yes, because this is sub agency
• yes, because this is undisclosed dual agency
• no, because he disclosed to all parties that neither had to
consent to dual agency
