MODULE 2 TEST QUESTIONS AND CORRECT ANSWERS

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MODULE 2 TEST QUESTIONS AND CORRECT ANSWERS

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MODULE 2 TEST QUESTIONS AND CORRECT ANSWERS

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MODULE 2 TEST QUESTIONS AND
CORRECT ANSWERS
TheA2termA2exclusiveA2inA2aA2listingA2orA2buyerA2agreementA2meansA2that:
*AnyA2agentA2canA2beA2paidA2toA2sellA2theA2property
*severalA2agentsA2canA2listA2theA2property
*OnlyA2theA2agentA2canA2listA2theA2property
*allA2ofA2theA2aboveA2-A2Ans--OnlyA2oneA2agentA2canA2listA2theA2property

AllA2ofA2theA2followingA2areA2requiredA2ofA2aA2brokerA2whenA2seekingA2toA2collectA2aA2com
missionA2forA2brokeringA2theA2saleA2EXCEPT
*HavingA2aA2validA2realA2estateA2license
*ComplyingA2withA2aA2setA2commissionA2rateA2setA2byA2aA2tradeA2organization
*HavingA2beenA2procuringA2causeA2inA2theA2transactionA2orA2havingA2exclusiveA2rightA2toA2
sellA2agreement
*HavingA2hadA2aA2contractA2ofA2employmentA2anA2agencyA2representaionA2agreementA2-
A2Ans--CompilingA2aA2setA2commssionA2rate

DonnaA2isA2paidA2straightA2commissionsA2onA2salesA2andA2receivesA2noA2salaryA2orA2other
A2benefitsA2fromA2herA2broker,A2DonnaA2isA2a
*Employee
*IndependentA2contractor
*PersonalA2assistant
*BrokerA2-A2Ans--IndependentA2contractor

IfA2anA2agentA2leavesA2aA2broker'sA2officeA2andA2transfersA2toA2aA2newA2company,A2thebro
kerA2mustA2tranferA2theA2listingsA2toA2theA2agentA2asA2well
TrueA2
FalseA2-A2Ans--False

AA2buyer'sA2agentA2mustA2completeA2anA2agencyA2disclosureA2statementA2when
*TheA2buyerA2closesA2onA2theA2deal
*TheA2buyerA2draftsA2anA2offer
*TheA2buyerA2signsA2theA2contract
*ObedienceA2-A2Ans--TheA2buyerA2draftsA2anA2offer

AA2feeA2thatA2isA2onlyA2receivedA2uponA2aA2successfulA2closingA2isA2a
*ContractA2fee
*BuyerA2agency
*ContingentA2Fee
*CompensationA2FeeA2-A2Ans--ContingentA2Fee

AllA2ofA2theA2followingA2areA2fiduciaryA2dutiesA2owedA2toA2aA2clientA2EXCEPT
*Loyalty

, *Confidentiality
*Accounting
*HonestyA2-A2Ans--Honesty

AA2buyer'sA2agentA2canA2beA2compensatiedA2byA2theA2sellerA2throughA2theA2listingA2agree
ment.A2SinceA2theA2sellerA2isA2payingA2theA2buyer'sA2agent'sA2fee,A2thisA2meansA2thatA2the
A2buyer'sA2agentA2isA2representing
*TheA2buyerA2only
*TheA2sellerA2only
*BothA2theA2buyerA2andA2theA2seller
*NeitherA2theA2buyerA2norA2theA2sellerA2-A2Ans--TheA2buyerA2only

LastA2monthA2brokerA2WandaA2tookA2aA2listingA2onA2aA2property.A2SheA2nowA2learnsA2thatA
2herA2clientA2hasA2beenA2declaredA2incompetentA2byA2theA2court.A2HerA2listingA2isA2
*TheA2basisA2forA2commissionA2ifA2theA2brokerA2producesA2aA2buyer
*BindingA2asA2theA2brokerA2wasA2actingA2inA2goodA2faith
*Terminated
*StillA2ValidA2-A2Ans--Terminated

Bob'sA2goodA2friendA2JoeyA2isA2moving.A2BobA2offersA2JoeA2$200,000A2forA2hisA2home.A2T
heyA2contactA2theirA2mutualA2friendA2Judy,A2aA2licensedA2broker,A2abdA2askA2herA2toA2draw
A2upA2theirA2agreement.A2JudyA2isA2actingA2asA2a:
*DesignatedA2agent
*TransactionA2broker
*SingleA2broker
*DualA2agentA2-A2Ans--TransactionA2broker

JaneA2listsA2aA2houseA2forA2saleA2forA2$150,000.A2SheA2knowsA2theA2sellerA2isA2havingA2fin
ancialA2difficultiesA2andA2willA2probablyA2takeA2less.A2AtA2aA2cocktailA2party,A2sheA2mention
sA2thisA2factA2toA2herA2bestA2friend,A2Nina.A2JaneA2hasA2violated:
*Loyalty
*Confidentiality
*Care
*NoneA2ofA2theA2AboveA2-A2Ans--Confidentiality

CommissionA2thatA2isA2paidA2toA2aA2salespersonA2isA2determinedA2by
*mutualA2agreement
*MutualA2AgreementA2withA2theA2client
*StateA2law
*TheA2localA2realA2estateA2boardA2-A2Ans--MutualA2agreementA2withA2herA2broker

AA2buyerA2makesA2anA2offerA2onA2100A2EA2mainA2StreetA2throughA2herA2agent,A2saraA2smit
h.A2MsA2SmithA2findsA2outA2thatA2theA2roofA2onA2theA2propertyA2isA2leakedA2severalA2timesA
2inA2theA2past,A2butA2sheA2doesA2notA2passA2informationA2onA2toA2theA2buyer.A2MsA2SmithA2
hasA2breachedA2theA2dutyA2of
*Confidentiality

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Uploaded on: November 25, 2025
Number of pages: 8
Written in: 2025/2026
Type: Exam (elaborations)
Contains: Questions & answers

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