Practice Exam: Question 0 of 0
COURSE PROGRESS
Course Content
98% of course content completed
Time in Course
107:50:05 time spent
Minimum of 25 hours, 0 minutes recommended
Your score: 90%
You have passed the exam.
Passing score: 70%
SCORING BREAKDOWN
Correct: Incorrect:
90/100 10/100
Continue to Final Exam
Return to Texas 30-Hour Law of Agency with Flex Units
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Review answers below
Question 1
Sara is your buyer customer. She doesn’t want to sign a buyer agency agreement. What duty do you owe
her?
, Negotiation of the best price
Undivided loyalty
Without an agency agreement, you owe buyer customers honesty and fairness, but not confidentiality or
undivided loyalty. You can’t negotiate the best price or show them properties outside of their price range.
Question 2
Agency is established by .mutual .consent, .so .by .which .of .the .following .may .it .be .successfully .terminated?
Bankruptcy
Renunciation
Revocation
Question . 3
Why .might .a .buyer’s .agent .show .more .properties .to .a .buyer .client .than .to .buyer .customer?
Confidentiality is not owed to the customer.
, The agent will have a better understanding of what the client is seeking.
There’s more time available to invest in searching for properties.
Question . 4
Your .latest .buyer .client, .Cal, .says .that .his .neighbor’s .house .is .for .sale. .Although .he’s .not .actually
.interested .in .purchasing .the .house .(he .wants .a .larger .home .in .a .different .area), .he .tells .you, .“I .heard .the
.guy .who .owned .that .house .has .AIDS. .Is .that .true?” .What .should .you .do?
Check with your listing agent to find out if this is true, and then tell Cal.
Let Cal know that, by law, you can only reveal this information to someone who is actually a
potential buyer of the property.
Only answer him if you know the answer to his question. If you don’t know the answer, you
must be honest and say so.
Question . 5
What .form .do .independent .contractors .file .with .the .IRS .to .deduct .business .expenses?
Schedule D
, Schedule E
Schedule for Independent Contractor Expenses
Question . 6
Which .of .the .following .must .be .included .in .a .buyer .agency .agreement?
An automatic renewal clause
A two-year termination
Standardized real estate commission
Question . 7
Which .statement .best .describes .the .duty .of .loyalty .owed .to .both .clients .in .a .transaction .with .an
.intermediary?
The intermediary doesn’t owe loyalty to either party, because of the potential for conflict of
interest.
COURSE PROGRESS
Course Content
98% of course content completed
Time in Course
107:50:05 time spent
Minimum of 25 hours, 0 minutes recommended
Your score: 90%
You have passed the exam.
Passing score: 70%
SCORING BREAKDOWN
Correct: Incorrect:
90/100 10/100
Continue to Final Exam
Return to Texas 30-Hour Law of Agency with Flex Units
View Exam Results
Review answers below
Question 1
Sara is your buyer customer. She doesn’t want to sign a buyer agency agreement. What duty do you owe
her?
, Negotiation of the best price
Undivided loyalty
Without an agency agreement, you owe buyer customers honesty and fairness, but not confidentiality or
undivided loyalty. You can’t negotiate the best price or show them properties outside of their price range.
Question 2
Agency is established by .mutual .consent, .so .by .which .of .the .following .may .it .be .successfully .terminated?
Bankruptcy
Renunciation
Revocation
Question . 3
Why .might .a .buyer’s .agent .show .more .properties .to .a .buyer .client .than .to .buyer .customer?
Confidentiality is not owed to the customer.
, The agent will have a better understanding of what the client is seeking.
There’s more time available to invest in searching for properties.
Question . 4
Your .latest .buyer .client, .Cal, .says .that .his .neighbor’s .house .is .for .sale. .Although .he’s .not .actually
.interested .in .purchasing .the .house .(he .wants .a .larger .home .in .a .different .area), .he .tells .you, .“I .heard .the
.guy .who .owned .that .house .has .AIDS. .Is .that .true?” .What .should .you .do?
Check with your listing agent to find out if this is true, and then tell Cal.
Let Cal know that, by law, you can only reveal this information to someone who is actually a
potential buyer of the property.
Only answer him if you know the answer to his question. If you don’t know the answer, you
must be honest and say so.
Question . 5
What .form .do .independent .contractors .file .with .the .IRS .to .deduct .business .expenses?
Schedule D
, Schedule E
Schedule for Independent Contractor Expenses
Question . 6
Which .of .the .following .must .be .included .in .a .buyer .agency .agreement?
An automatic renewal clause
A two-year termination
Standardized real estate commission
Question . 7
Which .statement .best .describes .the .duty .of .loyalty .owed .to .both .clients .in .a .transaction .with .an
.intermediary?
The intermediary doesn’t owe loyalty to either party, because of the potential for conflict of
interest.
