National Brokerage Exam questions n
answers A+ graded already passed
Earnest money is usually made in the form of a - correct answer ✔✔check.
What is the purpose of the Statute of Frauds? - correct answer ✔✔It requires
certain conveyance-related contracts to be in writing.
What is the definition of a principal? - correct answer ✔✔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? - correct
answer ✔✔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? - correct answer ✔✔$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? - correct answer ✔✔An MLS form
Which document is the most important at closing? - correct answer ✔✔Deed
, A utility right-of-way is an example of - correct answer ✔✔an encumbrance.
A building with integrated office and retail space would be considered - correct
answer ✔✔a mixed-use property.
Which of the following is an advantage of investing in a nonresidential property? -
correct answer ✔✔Limited rent controls
Most apartment leases are - correct answer ✔✔estates from period to period.
Owning a building typically - correct answer ✔✔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? - correct answer ✔✔Graduated
AIDA stands for - correct answer ✔✔Attention, Interest, Desire, and Action
What is the best approach to establishing a buyer's possession? - correct answer
✔✔Buyers take possession on the day of the close.
Which type of contract can have tax benefits for a seller? - correct answer
✔✔Contract for deed
answers A+ graded already passed
Earnest money is usually made in the form of a - correct answer ✔✔check.
What is the purpose of the Statute of Frauds? - correct answer ✔✔It requires
certain conveyance-related contracts to be in writing.
What is the definition of a principal? - correct answer ✔✔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? - correct
answer ✔✔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? - correct answer ✔✔$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? - correct answer ✔✔An MLS form
Which document is the most important at closing? - correct answer ✔✔Deed
, A utility right-of-way is an example of - correct answer ✔✔an encumbrance.
A building with integrated office and retail space would be considered - correct
answer ✔✔a mixed-use property.
Which of the following is an advantage of investing in a nonresidential property? -
correct answer ✔✔Limited rent controls
Most apartment leases are - correct answer ✔✔estates from period to period.
Owning a building typically - correct answer ✔✔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? - correct answer ✔✔Graduated
AIDA stands for - correct answer ✔✔Attention, Interest, Desire, and Action
What is the best approach to establishing a buyer's possession? - correct answer
✔✔Buyers take possession on the day of the close.
Which type of contract can have tax benefits for a seller? - correct answer
✔✔Contract for deed
