Real Estate 45 Hour Post Licensing final
update Questions and Answers |With 100%
Verified Solutions | Updated & Verified |
2025
Single Agent - ✔✔ANSWER ✔✔-A broker who represents
either the seller or the buyer in a real estate transaction,
but not both.
single agent notice - ✔✔ANSWER ✔✔-A disclosure form
informing the principal of the duties of his single agent.
,appraising - ✔✔ANSWER ✔✔-The process of estimating
the market value of property.
principal - ✔✔ANSWER ✔✔-(1) The person who enters
into a fiduciary relationship with a single agent licensee.
(2) The amount of money remaining due on a mortgage
loan.
buyer brokerage agreement - ✔✔ANSWER ✔✔-An
agreement between a buyer and a broker for the broker
to provide services to a buyer for compensation. The
broker may be acting as a single agent, a transaction
broker, or a nonrepresentative.
Consent to Transition to Transaction Broker -
✔✔ANSWER ✔✔-A disclosure form that allows a single
agent to become a transaction broker. The notice must
be signed by the principal before the broker can make
the change.
,No brokerage relationship notice - ✔✔ANSWER ✔✔-A
disclosure that must be given by a licensee who does not
represent a buyer or a seller before entering into an
agreement or showing a property.
Designated Sales Associate - ✔✔ANSWER ✔✔-A sales
associate who is appointed by a broker as a single agent
for a buyer or a seller in a nonresidential transaction
when another sales associate in the firm has been
appointed as the single agent for the other party in the
transaction. Both buyer and seller must have assets of at
least $1 million and agree to the arrangement.
assets - ✔✔ANSWER ✔✔-Things of value owned by a
person or organization.
T or F: A transaction broker may tell a buyer if he knows
that the seller will take less than the asking price. -
✔✔ANSWER ✔✔-The answer is false. The transaction
broker may not reveal that the seller might accept a price
less than the asking or list price.
, T or F: Licensees working with no brokerage relationship
to the customer owe the customer the duty of
confidentiality. - ✔✔ANSWER ✔✔-The answer is false.
Licensees working with no brokerage relationship owe
only three duties to the customer: dealing honestly and
fairly, disclosing all known facts that materially affect the
value of the residential real property that are not readily
observable to the buyer, and accounting for all funds
entrusted to the licensee.
T or F: A single agent who transitions to transaction
broker may not disclose to another party any information
learned while serving as a single agent. - ✔✔ANSWER
✔✔-The answer is true. The agent may not disclose to
the other party any confidential information learned
while a single agent.
T or F: A licensee who acts as a transaction broker must
give a transaction broker notice before showing a house
to a prospective buyer. - ✔✔ANSWER ✔✔-The answer is
false. A licensee need not give a brokerage relationship
notice when the licensee is acting as a transaction
broker.
update Questions and Answers |With 100%
Verified Solutions | Updated & Verified |
2025
Single Agent - ✔✔ANSWER ✔✔-A broker who represents
either the seller or the buyer in a real estate transaction,
but not both.
single agent notice - ✔✔ANSWER ✔✔-A disclosure form
informing the principal of the duties of his single agent.
,appraising - ✔✔ANSWER ✔✔-The process of estimating
the market value of property.
principal - ✔✔ANSWER ✔✔-(1) The person who enters
into a fiduciary relationship with a single agent licensee.
(2) The amount of money remaining due on a mortgage
loan.
buyer brokerage agreement - ✔✔ANSWER ✔✔-An
agreement between a buyer and a broker for the broker
to provide services to a buyer for compensation. The
broker may be acting as a single agent, a transaction
broker, or a nonrepresentative.
Consent to Transition to Transaction Broker -
✔✔ANSWER ✔✔-A disclosure form that allows a single
agent to become a transaction broker. The notice must
be signed by the principal before the broker can make
the change.
,No brokerage relationship notice - ✔✔ANSWER ✔✔-A
disclosure that must be given by a licensee who does not
represent a buyer or a seller before entering into an
agreement or showing a property.
Designated Sales Associate - ✔✔ANSWER ✔✔-A sales
associate who is appointed by a broker as a single agent
for a buyer or a seller in a nonresidential transaction
when another sales associate in the firm has been
appointed as the single agent for the other party in the
transaction. Both buyer and seller must have assets of at
least $1 million and agree to the arrangement.
assets - ✔✔ANSWER ✔✔-Things of value owned by a
person or organization.
T or F: A transaction broker may tell a buyer if he knows
that the seller will take less than the asking price. -
✔✔ANSWER ✔✔-The answer is false. The transaction
broker may not reveal that the seller might accept a price
less than the asking or list price.
, T or F: Licensees working with no brokerage relationship
to the customer owe the customer the duty of
confidentiality. - ✔✔ANSWER ✔✔-The answer is false.
Licensees working with no brokerage relationship owe
only three duties to the customer: dealing honestly and
fairly, disclosing all known facts that materially affect the
value of the residential real property that are not readily
observable to the buyer, and accounting for all funds
entrusted to the licensee.
T or F: A single agent who transitions to transaction
broker may not disclose to another party any information
learned while serving as a single agent. - ✔✔ANSWER
✔✔-The answer is true. The agent may not disclose to
the other party any confidential information learned
while a single agent.
T or F: A licensee who acts as a transaction broker must
give a transaction broker notice before showing a house
to a prospective buyer. - ✔✔ANSWER ✔✔-The answer is
false. A licensee need not give a brokerage relationship
notice when the licensee is acting as a transaction
broker.
