Seller Representative Specialist (SRS)
Practice Examination Questions And
Correct Answers (Verified Answers) Plus
Rationales 2026 Q&A Instant Download
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Question 1
Which of the following best defines the fiduciary duty of loyalty owed by a seller’s
representative to the seller client?
A. The agent must disclose all material facts about the property to potential
buyers.
B. The agent must place the seller’s interests above all others, including the
agent’s own, except where prohibited by law.
C. The agent must ensure the property sells within the listing period regardless of
market conditions.
D. The agent must split the commission equally with any cooperating broker.
Answer: B. The agent must place the seller’s interests above all others, including
the agent’s own, except where prohibited by law. Rationale: Loyalty is a core
fiduciary duty requiring the agent to act solely in the seller’s best interest. While
disclosure (A) is part of the duty of disclosure, it is not loyalty. Ensuring a sale (C)
is not a guarantee. Commission splits (D) are negotiable and not a fiduciary
duty.
Question 2
When preparing a comparative market analysis (CMA) for a seller, which property
,should be given the greatest weight in determining market value?
A. A property that sold three years ago in the same subdivision.
B. A property currently listed for sale at a higher price per square foot.
C. A recently sold property with similar size, age, and condition within one mile
that closed 30 days ago.
D. A property that failed to sell after 180 days on market.
Answer: C. A recently sold property with similar size, age, and condition within
one mile that closed 30 days ago. Rationale: The best comps are recent (within
3-6 months), similar in physical characteristics, and located in the same or
adjacent market area. Older sales (A) are less relevant. Active listings (B) are
indicators but not sold data. Expired listings (D) show pricing too high, not value.
Question 3
A seller tells their SRS designee that they must sell within 60 days due to a job
relocation. The agent knows the market is softening. What is the agent’s best
initial strategy?
A. List the property at the seller’s desired price to test the market for 30 days.
B. Advise the seller on aggressive pricing, staging, and buyer-friendly terms to
attract offers quickly.
C. Recommend that the seller wait six months until the market rebounds.
D. Offer a reduced commission to any buyer’s agent who brings an offer within 45
days.
Answer: B. Advise the seller on aggressive pricing, staging, and buyer-friendly
terms to attract offers quickly. Rationale: The agent must align pricing and
marketing strategy with the seller’s time frame. Testing a high price (A) wastes
critical time. Waiting (C) contradicts the seller’s need. Commission incentives (D)
may be legal but are secondary to pricing and presentation.
Question 4
Under the common law of agency, which of the following is NOT a fiduciary duty
,owed to a seller client?
A. Confidentiality
B. Obedience
C. Disclosure
D. Fair housing compliance
Answer: D. Fair housing compliance. Rationale: Fair housing compliance is a
statutory legal obligation, not a common-law fiduciary duty. The fiduciary duties
are care, obedience, loyalty, disclosure, accounting, and confidentiality. Fair
housing applies to all transactions regardless of agency.
Question 5
An SRS designee is preparing a net proceeds sheet for a seller. Which item is
typically NOT included in the seller’s closing costs?
A. Real estate commission
B. Prorated property taxes
C. Title insurance for the buyer
D. Documentary stamp taxes on the deed
Answer: C. Title insurance for the buyer. Rationale: Buyer’s title insurance is
typically a buyer expense, though local customs vary. Seller costs generally
include commission, prorated taxes, deed transfer taxes, and attorney fees. The
SRS must clearly distinguish buyer vs. seller costs in the net sheet.
Question 6
What is the primary purpose of a seller property condition disclosure statement?
A. To guarantee that the property is free from defects.
B. To shift all repair liability to the buyer.
C. To provide known material facts about the property’s condition to the buyer.
D. To satisfy the agent’s duty of accounting.
Answer: C. To provide known material facts about the property’s condition to
the buyer. Rationale: The disclosure is a seller’s statement of known defects and
, conditions. It does not guarantee condition (A) nor absolve liability for fraud (B).
It relates to the duty of disclosure, not accounting (D).
Question 7
Which marketing technique is most effective for reaching out-of-state relocation
buyers in today’s digital market?
A. A large yard sign with a QR code.
B. Professional photography and a 3D virtual tour hosted on major real estate
portals.
C. A direct mail postcard campaign to the local neighborhood.
D. A newspaper advertisement in the local Sunday edition.
Answer: B. Professional photography and a 3D virtual tour hosted on major real
estate portals. Rationale: Out-of-state buyers rely heavily on online listings.
Virtual tours and high-quality imagery provide remote viewing. Yard signs (A)
and local mail (C) have limited geographic reach. Newspapers (D) have declining
effectiveness.
Question 8
When a seller receives multiple offers, the SRS designee should FIRST:
A. Accept the highest offer automatically.
B. Present all offers to the seller in writing, along with a comparative analysis of
terms and contingencies.
C. Reject all offers below list price to maintain market value.
D. Counter the offer with the largest down payment.
Answer: B. Present all offers to the seller in writing, along with a comparative
analysis of terms and contingencies. Rationale: The agent must present all
written offers objectively. Price is not the only factor; terms, financing,
contingencies, and closing dates matter. The seller makes the decision after full
disclosure.
Practice Examination Questions And
Correct Answers (Verified Answers) Plus
Rationales 2026 Q&A Instant Download
Question 1
Which of the following best defines the fiduciary duty of loyalty owed by a seller’s
representative to the seller client?
A. The agent must disclose all material facts about the property to potential
buyers.
B. The agent must place the seller’s interests above all others, including the
agent’s own, except where prohibited by law.
C. The agent must ensure the property sells within the listing period regardless of
market conditions.
D. The agent must split the commission equally with any cooperating broker.
Answer: B. The agent must place the seller’s interests above all others, including
the agent’s own, except where prohibited by law. Rationale: Loyalty is a core
fiduciary duty requiring the agent to act solely in the seller’s best interest. While
disclosure (A) is part of the duty of disclosure, it is not loyalty. Ensuring a sale (C)
is not a guarantee. Commission splits (D) are negotiable and not a fiduciary
duty.
Question 2
When preparing a comparative market analysis (CMA) for a seller, which property
,should be given the greatest weight in determining market value?
A. A property that sold three years ago in the same subdivision.
B. A property currently listed for sale at a higher price per square foot.
C. A recently sold property with similar size, age, and condition within one mile
that closed 30 days ago.
D. A property that failed to sell after 180 days on market.
Answer: C. A recently sold property with similar size, age, and condition within
one mile that closed 30 days ago. Rationale: The best comps are recent (within
3-6 months), similar in physical characteristics, and located in the same or
adjacent market area. Older sales (A) are less relevant. Active listings (B) are
indicators but not sold data. Expired listings (D) show pricing too high, not value.
Question 3
A seller tells their SRS designee that they must sell within 60 days due to a job
relocation. The agent knows the market is softening. What is the agent’s best
initial strategy?
A. List the property at the seller’s desired price to test the market for 30 days.
B. Advise the seller on aggressive pricing, staging, and buyer-friendly terms to
attract offers quickly.
C. Recommend that the seller wait six months until the market rebounds.
D. Offer a reduced commission to any buyer’s agent who brings an offer within 45
days.
Answer: B. Advise the seller on aggressive pricing, staging, and buyer-friendly
terms to attract offers quickly. Rationale: The agent must align pricing and
marketing strategy with the seller’s time frame. Testing a high price (A) wastes
critical time. Waiting (C) contradicts the seller’s need. Commission incentives (D)
may be legal but are secondary to pricing and presentation.
Question 4
Under the common law of agency, which of the following is NOT a fiduciary duty
,owed to a seller client?
A. Confidentiality
B. Obedience
C. Disclosure
D. Fair housing compliance
Answer: D. Fair housing compliance. Rationale: Fair housing compliance is a
statutory legal obligation, not a common-law fiduciary duty. The fiduciary duties
are care, obedience, loyalty, disclosure, accounting, and confidentiality. Fair
housing applies to all transactions regardless of agency.
Question 5
An SRS designee is preparing a net proceeds sheet for a seller. Which item is
typically NOT included in the seller’s closing costs?
A. Real estate commission
B. Prorated property taxes
C. Title insurance for the buyer
D. Documentary stamp taxes on the deed
Answer: C. Title insurance for the buyer. Rationale: Buyer’s title insurance is
typically a buyer expense, though local customs vary. Seller costs generally
include commission, prorated taxes, deed transfer taxes, and attorney fees. The
SRS must clearly distinguish buyer vs. seller costs in the net sheet.
Question 6
What is the primary purpose of a seller property condition disclosure statement?
A. To guarantee that the property is free from defects.
B. To shift all repair liability to the buyer.
C. To provide known material facts about the property’s condition to the buyer.
D. To satisfy the agent’s duty of accounting.
Answer: C. To provide known material facts about the property’s condition to
the buyer. Rationale: The disclosure is a seller’s statement of known defects and
, conditions. It does not guarantee condition (A) nor absolve liability for fraud (B).
It relates to the duty of disclosure, not accounting (D).
Question 7
Which marketing technique is most effective for reaching out-of-state relocation
buyers in today’s digital market?
A. A large yard sign with a QR code.
B. Professional photography and a 3D virtual tour hosted on major real estate
portals.
C. A direct mail postcard campaign to the local neighborhood.
D. A newspaper advertisement in the local Sunday edition.
Answer: B. Professional photography and a 3D virtual tour hosted on major real
estate portals. Rationale: Out-of-state buyers rely heavily on online listings.
Virtual tours and high-quality imagery provide remote viewing. Yard signs (A)
and local mail (C) have limited geographic reach. Newspapers (D) have declining
effectiveness.
Question 8
When a seller receives multiple offers, the SRS designee should FIRST:
A. Accept the highest offer automatically.
B. Present all offers to the seller in writing, along with a comparative analysis of
terms and contingencies.
C. Reject all offers below list price to maintain market value.
D. Counter the offer with the largest down payment.
Answer: B. Present all offers to the seller in writing, along with a comparative
analysis of terms and contingencies. Rationale: The agent must present all
written offers objectively. Price is not the only factor; terms, financing,
contingencies, and closing dates matter. The seller makes the decision after full
disclosure.
