Real Estate U Chapter 2 Exam 2026|2027 Questions with Detailed
Verified Answers (100% Correct Answers) | Already Graded A+
Accountability - Answer -To be responsible. (Safeguard any money or property held on behalf of
the client)
Advance Consent to Dual Agency - Answer -The seller or buyer agrees to dual agency before it
occurs by indicating the same on the agency disclosure form
Agent - Answer -One who undertakes to transact some business or to manage some affair for
another by authority of the latter.
Broker's Agent - Answer -A broker's agent is an agent that cooperates or is engaged by a listing
agent or a buyer's agent (but does not work for the same firm as the listing agent or buyer's
agent) to assist the listing agent or buyer's agent in locating a property to sell or buy,
respectively, for the listing agent's seller or the buyer agent's buyer.
Buyer Agent - Answer -An agent who represents the buyer of real property.
Client - Answer -The one by whom a broker is employed
1|Page
, Confidentiality - Answer -An agent is obligated to safeguard his/her principal's lawful
confidences and secrets. Therefore, a real estate broker must keep confidential any information
that may weaken a principal's bargaining position
Cooperating Agent - Answer -A real estate agent who sells a property. The selling agent may be
(1) the subagent or listing agent of the seller; (2) a buyer's agent; or (3) a dual agent. Also called
a selling agent or participating agent.
Designated Sales Agent - Answer -Appointing one or more individual agents in a firm to
represent only the interests of the seller and one or more different individual agents in the firm
to represent only the interests of the buyer when a firm has an "in-house" dual agency
situation.
Disclosure of information - Answer -The release of relevant information about a property that
may influence the final sale, especially if it represents defects or problems. (must communicate
and present client with all offers)
Dual Agency - Answer -Representing both principals (seller and buyer) to a transaction.(Conflict
of interest at times - can also protect both interests)
Estoppel - Answer -The principle which prevents a person from asserting something contrary to
what is implied by a previous action or statement of that person.
2|Page
Verified Answers (100% Correct Answers) | Already Graded A+
Accountability - Answer -To be responsible. (Safeguard any money or property held on behalf of
the client)
Advance Consent to Dual Agency - Answer -The seller or buyer agrees to dual agency before it
occurs by indicating the same on the agency disclosure form
Agent - Answer -One who undertakes to transact some business or to manage some affair for
another by authority of the latter.
Broker's Agent - Answer -A broker's agent is an agent that cooperates or is engaged by a listing
agent or a buyer's agent (but does not work for the same firm as the listing agent or buyer's
agent) to assist the listing agent or buyer's agent in locating a property to sell or buy,
respectively, for the listing agent's seller or the buyer agent's buyer.
Buyer Agent - Answer -An agent who represents the buyer of real property.
Client - Answer -The one by whom a broker is employed
1|Page
, Confidentiality - Answer -An agent is obligated to safeguard his/her principal's lawful
confidences and secrets. Therefore, a real estate broker must keep confidential any information
that may weaken a principal's bargaining position
Cooperating Agent - Answer -A real estate agent who sells a property. The selling agent may be
(1) the subagent or listing agent of the seller; (2) a buyer's agent; or (3) a dual agent. Also called
a selling agent or participating agent.
Designated Sales Agent - Answer -Appointing one or more individual agents in a firm to
represent only the interests of the seller and one or more different individual agents in the firm
to represent only the interests of the buyer when a firm has an "in-house" dual agency
situation.
Disclosure of information - Answer -The release of relevant information about a property that
may influence the final sale, especially if it represents defects or problems. (must communicate
and present client with all offers)
Dual Agency - Answer -Representing both principals (seller and buyer) to a transaction.(Conflict
of interest at times - can also protect both interests)
Estoppel - Answer -The principle which prevents a person from asserting something contrary to
what is implied by a previous action or statement of that person.
2|Page
