PERRY REAL ESTATE MODULE 2 TEST EXAM QUESTIONS AND
ANSWERS GRADED A+ LATEST UPDATE.
In assessing the buyer's wants and needs, the buyer's agent should
inquire about all of the following EXCEPT: ANS >>> Criminal history
(income, credit, and location in which you want to live)
True or false: REALTORS, when acting as principals in a real estate
transaction, remain obligated by the duties imposed by the Code of
Ethics. ANS >>> True
________ may create an undisclosed dual agency unintentionally,
inadvertently or accidentally. ANS >>> Implied agency
A buyer's agent should pre-screen the buyer to determine what areas of
town the buyer is interested in seeing. If the agent does not show the
buyer properties in this area, the agent has breached the duty of
______. ANS >>> Obedience of lawful instructions
, Within what discipline is the study of ethics? ANS >>> Philosophy (within
the discipline of philosophy, the study of ethics examines right and
wrong moral behaviour)
The principle of caveat emptor has largely been superseded by what?
ANS >>> Seller disclosure laws
The concept of ethics was derived from the ___ word "ethos", which
means character, habit, disposition or custom. ANS >>> Greek
The salesperson received $2,800 commission on her 35 percent share of
the total commission of the sale of the property that sold for $160,000.
What was the commission rate? ANS >>> 5 percent ($2,800 divided by
.35= $8,000 is the total commission before the agent split. $8,000
divided by $160,000 = .05% is the commission rate.)
Some states require agents to provide minimum services on listings.
These services include all of the following except: ANS >>> Showing the
property*
(Assisting in negotiating counteroffers, presenting offers, showing the
property, answering questions)
In real estate, the ______ of the firm is the agent. ANS >>> Principal
broker*
ANSWERS GRADED A+ LATEST UPDATE.
In assessing the buyer's wants and needs, the buyer's agent should
inquire about all of the following EXCEPT: ANS >>> Criminal history
(income, credit, and location in which you want to live)
True or false: REALTORS, when acting as principals in a real estate
transaction, remain obligated by the duties imposed by the Code of
Ethics. ANS >>> True
________ may create an undisclosed dual agency unintentionally,
inadvertently or accidentally. ANS >>> Implied agency
A buyer's agent should pre-screen the buyer to determine what areas of
town the buyer is interested in seeing. If the agent does not show the
buyer properties in this area, the agent has breached the duty of
______. ANS >>> Obedience of lawful instructions
, Within what discipline is the study of ethics? ANS >>> Philosophy (within
the discipline of philosophy, the study of ethics examines right and
wrong moral behaviour)
The principle of caveat emptor has largely been superseded by what?
ANS >>> Seller disclosure laws
The concept of ethics was derived from the ___ word "ethos", which
means character, habit, disposition or custom. ANS >>> Greek
The salesperson received $2,800 commission on her 35 percent share of
the total commission of the sale of the property that sold for $160,000.
What was the commission rate? ANS >>> 5 percent ($2,800 divided by
.35= $8,000 is the total commission before the agent split. $8,000
divided by $160,000 = .05% is the commission rate.)
Some states require agents to provide minimum services on listings.
These services include all of the following except: ANS >>> Showing the
property*
(Assisting in negotiating counteroffers, presenting offers, showing the
property, answering questions)
In real estate, the ______ of the firm is the agent. ANS >>> Principal
broker*
