Sinzorah
NATIONAL BROKERAGE EXAM
WITH CORRECT QUESTIONS AND
ANSWERS.
Earnest money is usually made in the form of a - ✔✔check.
What is the purpose of the Statute of Frauds? - ✔✔It requires certain conveyance-related contracts
to be in writing.
What is the definition of a principal? - ✔✔A person who delegates another to act on his or her
behalf through an agency relationship
Which of the following referral fees are NOT prohibited by RESPA? - ✔✔Fees among cooperating
brokers
The Brooks' paid-off property sold for $247,600. What will they net after paying a 7.5% commission
to their broker? - ✔✔$229,030
After a listing agreement is signed, and if the agent is a member of a marketing service called a
Multiple Listing Service (MLS). What specific form must be completed before the agent can post and
market the property to other licensees who are members of MLS? - ✔✔An MLS form
Which document is the most important at closing? - ✔✔Deed
A utility right-of-way is an example of - ✔✔an encumbrance.
A building with integrated office and retail space would be considered - ✔✔a mixed-use property.
Which of the following is an advantage of investing in a nonresidential property? - ✔✔Limited rent
controls
All the Best
, Sinzorah
Most apartment leases are - ✔✔estates from period to period.
Owning a building typically - ✔✔reduces the flexibility of the business
Agent Sally has been with Black Realty for over three years and has worked up to the top agent in the
firm. Her commission percentage rate is double that of a starting agent. Based on this information,
what type of compensation plan does the Black agency have in place? - ✔✔Graduated
AIDA stands for - ✔✔Attention, Interest, Desire, and Action
What is the best approach to establishing a buyer's possession? - ✔✔Buyers take possession on the
day of the close.
Which type of contract can have tax benefits for a seller? - ✔✔Contract for deed
A broker can enter into a single agency agreement with - ✔✔a buyer.
Which of the following situations would give concern about working for the Sunny Valley Brokerage?
- ✔✔Agents seem to come and go quickly.
All closing real estate sales must be reported to the IRS on which form? - ✔✔Form 1099
A licensee tells a neighborhood watch group that Vietnamese are moving into the neighborhood.
What is this broker guilty of? - ✔✔Panic selling
What does risk management mean as it applies to property management? - ✔✔Controlling and
limiting risk through proper insurance
Which of the following is considered a variable expense? - ✔✔Utilities
Which party holds the escrow money when a dispute occurs? - ✔✔The Sponsoring Broker
All the Best
NATIONAL BROKERAGE EXAM
WITH CORRECT QUESTIONS AND
ANSWERS.
Earnest money is usually made in the form of a - ✔✔check.
What is the purpose of the Statute of Frauds? - ✔✔It requires certain conveyance-related contracts
to be in writing.
What is the definition of a principal? - ✔✔A person who delegates another to act on his or her
behalf through an agency relationship
Which of the following referral fees are NOT prohibited by RESPA? - ✔✔Fees among cooperating
brokers
The Brooks' paid-off property sold for $247,600. What will they net after paying a 7.5% commission
to their broker? - ✔✔$229,030
After a listing agreement is signed, and if the agent is a member of a marketing service called a
Multiple Listing Service (MLS). What specific form must be completed before the agent can post and
market the property to other licensees who are members of MLS? - ✔✔An MLS form
Which document is the most important at closing? - ✔✔Deed
A utility right-of-way is an example of - ✔✔an encumbrance.
A building with integrated office and retail space would be considered - ✔✔a mixed-use property.
Which of the following is an advantage of investing in a nonresidential property? - ✔✔Limited rent
controls
All the Best
, Sinzorah
Most apartment leases are - ✔✔estates from period to period.
Owning a building typically - ✔✔reduces the flexibility of the business
Agent Sally has been with Black Realty for over three years and has worked up to the top agent in the
firm. Her commission percentage rate is double that of a starting agent. Based on this information,
what type of compensation plan does the Black agency have in place? - ✔✔Graduated
AIDA stands for - ✔✔Attention, Interest, Desire, and Action
What is the best approach to establishing a buyer's possession? - ✔✔Buyers take possession on the
day of the close.
Which type of contract can have tax benefits for a seller? - ✔✔Contract for deed
A broker can enter into a single agency agreement with - ✔✔a buyer.
Which of the following situations would give concern about working for the Sunny Valley Brokerage?
- ✔✔Agents seem to come and go quickly.
All closing real estate sales must be reported to the IRS on which form? - ✔✔Form 1099
A licensee tells a neighborhood watch group that Vietnamese are moving into the neighborhood.
What is this broker guilty of? - ✔✔Panic selling
What does risk management mean as it applies to property management? - ✔✔Controlling and
limiting risk through proper insurance
Which of the following is considered a variable expense? - ✔✔Utilities
Which party holds the escrow money when a dispute occurs? - ✔✔The Sponsoring Broker
All the Best
