Legal aspects of Real estate chapter 7
UPDATED ACTUAL Exam Questions and
CORRECT Answers
What agreement authorizes a broker to represent an owner or landlord? - CORRECT
ANSWER - An owner listing
An agent who ultimately caused a buyer to purchase a home and earned the commission is called
- CORRECT ANSWER - the procuring cause agent.
In a CAR Exclusive Buyer Representation Agreement, how many days from the date of the
agreement does a buyer have to provide the broker proof that he or she has the financial
capability to purchase a property described in the agreement, if it's not written in the agreement?
- CORRECT ANSWER -5
Which offers is the broker required to present to the seller? - CORRECT ANSWER - All
offers
What provision, in an independent contractor agreement, includes the name of the broker and
licensed real estate agent participating in the employment contract and the term of the
agreement? - CORRECT ANSWER - Parties and terms
In a broker-associate relationship, where a licensee is an employee, who controls the hours,
schedule, and workload an agent has? - CORRECT ANSWER - broker
What paragraph in a CAR Residential Listing Agreement states the broker is not responsible for
damage to personal or real property or persons in association with the showing and sale of the
property? - CORRECT ANSWER - security,insurance
Most brokers prefer working with licensees as - CORRECT ANSWER - independent
contractors
UPDATED ACTUAL Exam Questions and
CORRECT Answers
What agreement authorizes a broker to represent an owner or landlord? - CORRECT
ANSWER - An owner listing
An agent who ultimately caused a buyer to purchase a home and earned the commission is called
- CORRECT ANSWER - the procuring cause agent.
In a CAR Exclusive Buyer Representation Agreement, how many days from the date of the
agreement does a buyer have to provide the broker proof that he or she has the financial
capability to purchase a property described in the agreement, if it's not written in the agreement?
- CORRECT ANSWER -5
Which offers is the broker required to present to the seller? - CORRECT ANSWER - All
offers
What provision, in an independent contractor agreement, includes the name of the broker and
licensed real estate agent participating in the employment contract and the term of the
agreement? - CORRECT ANSWER - Parties and terms
In a broker-associate relationship, where a licensee is an employee, who controls the hours,
schedule, and workload an agent has? - CORRECT ANSWER - broker
What paragraph in a CAR Residential Listing Agreement states the broker is not responsible for
damage to personal or real property or persons in association with the showing and sale of the
property? - CORRECT ANSWER - security,insurance
Most brokers prefer working with licensees as - CORRECT ANSWER - independent
contractors
