D. use the comment in other places on his website to help drum up new business. C) 120. Later, Ken meets Broker Brenda at a party and is persuaded to let her represent him in the purchase of the property. If another brokerage wants to show the property, what is the listing brokers responsibility? A. once it has been filed the agent. Based on these facts, which statement is TRUE? Several buyers enter REALTOR Petes office and ask about one of the companys listings. D. tell a client that a contract is valid, void, or voidable, 41. 53. REALTOR Loretta has a large brokerage that includes an in-house mortgage lender, an in-house title company, and she offers home warranties through her company. Mikes answer should be B) The agent has not violated any agency responsibilities to the seller. The broker designates one sales associate to represent the seller and one sales associate to represent the buyer. 25. A. When, how and to whom agents must reveal for whom they provide client based services. \text{Electronics}&\text{\$\hspace{1pt}40,000,000}&\text{\$\hspace{1pt}2,880,000}&\text{\$\hspace{1pt}16,000,000}\\ D. Visit our website at www.tinytownrealestate.com for special offers!, 39. Questions Only The broker was unethical, but the seller did get to sell the property. Chad is a customer of Marcys. 7. B. disclosure of material facts. The first committee at the local level to review an ethics complaint or a request for arbitration is the 99. 60. D. targeted sales. Rather than purchase new equipment, the marketing manager argues that the companys marketing strategy should be changed. D. what is required by the Code. contact the city building inspector about the defect. D) C. estimated market evaluation. The Code of Ethics in Action Real-Life Applications Class Questions Only FREE, End of Pre-License Course Exam Questions (ANSWERS), All Pre-License Questions & Answers and Summary Notes on a single page for Easy Searching for Answers while taking a test, Post-License Chapter 1 Quiz Questions Only, Post-License Chapter 2 Quiz Questions Only, Post-License Chapter 3 Quiz Questions Only, Post-License Chapter 4 Quiz Questions Only, Post-License Chapter 5 Quiz Questions Only, Post-License Chapter 6 Quiz Questions Only, Post-License Chapter 7 Quiz Questions Only, Post-License Chapter 8 Quiz Questions Only, Post-License Chapter 9 Quiz Questions Only, Post-License Chapter 10 Quiz Questions Only, Post-License Chapter 11 Quiz Questions Only, Post-License Chapter 12 Quiz Questions Only, Post-License Chapter 13 Quiz Questions Only, Post-License Chapter 14 Quiz Questions Only, Post-License Chapter 15 Quiz Questions Only, Post-License Chapter 16 Quiz Questions Only, Post-License Class Review Quiz Questions Only, Post-License Chapter 10 Quiz with ANSWERS, Post-License Chapter 11 Quiz with ANSWERS, Post-License Chapter 12 Quiz with ANSWERS, Post-License Chapter 13 Quiz with ANSWERS, Post-License Chapter 14 Quiz with ANSWERS, Post-License Chapter 15 Quiz with ANSWERS, Post-License Chapter 16 Quiz with ANSWERS, Post-License Class Review Quiz with ANSWERS, All Post-License Questions & Answers and Summary Notes on a single page for Easy Searching for Answers while taking a test, Real Estate Law / Core Law Class Questions Only FREE, Ethics and Business Practices / Age of Disruption / Ethics at Work Class Questions Only FREE, Educating Homebuyers / First Time Homebuyers A Niche To Grow On Class Questions Only FREE, Educating Sellers Class Questions Only FREE, Fair Housing Class Questions Only FREE, Millennials Are Changing Real Estate: Are You Ready? Class Questions Only FREE, Navigating a Hot Sellers Market Class Questions Only FREE, Real Estate Investing Beyond the Basics Class Questions Only FREE, Real Property Appraisals Class Questions Only FREE, Short Sales and Foreclosures / Advocating for Short Sale Clients Class Questions Only FREE, Real Estate Law / Core Law Class Questions with Answers, Ethics and Business Practices / Age of Disruption / Ethics at Work Class Questions with Answers, Educating Homebuyers / First Time Homebuyers A Niche To Grow On Class Questions with Answers, Educating Sellers? Class Questions with Answers, Fair Housing Class Questions with Answers, Millennials Are Changing Real Estate: Are You Ready? Class Questions with Answers, NAR May the Code Be With You / The Code of Ethics in Action Real-Life Applications Class Questions with Answers, Navigating a Hot Sellers Market Class Questions and Answers, Real Estate Investing Beyond the Basics Class Questions with Answers, Real Property Appraisals Class Questions with Answers, Short Sales and Foreclosures / Advocating for Short Sale Clients Class Questions with Answers, All CE (Continuing Education) Classes Study Guide that we have on 1 page ( included CE classes -Core Law, Ethics and ALL Other CE elective classes Guides that we have)- Questions with Answers. If Jackie Knox, who owns property in Chicago, agrees to sell the needed land and the agent signs his name "Saul Arnold," _____. C) A. beautiful home in an exclusive neighborhood Which of the following is not true regarding dual agency? 59. Sales(15,000unitsX$30perunit)VariableexpensesContributionmarginFixedexpensesNetoperatingincome$450,000315,000135,00090,000$45,000. This fact favors express information of facts about a property or client's circumstances. B. broker Jim. B. the first step in procuring cause and strongly favors Roger. A. disclosing his true position. A) Article 3Cooperate with other REALTORS In a real estate brokerage, The buyer asked the broker to negotiate on his behalf and write a purchase contract. C) Absolutelythis is a community property state. C. Professional Standards Committee Which of the following is not a listing agreement typically used in California? D. the total commission paid to REALTOR Nelson by the seller. Which of the following is an INCORRECT statement regarding misuse of confidential information and the agent's duty of loyalty? 2. D. Melanie should not solicit a buyer agreement with these buyers. D) 4 Q . never. D) D. notifying him of all known material facts. A) A. The listing broker and the seller find a small roof leak in the attic. C. Kathy and Dean had previous dealings with each other. REALTOR Kevin, representing buyer Susan, shows one of REALTOR Craigs listings. C) contact the city building inspector about the defect. b. innocent Elizabeth leases the property from Broker Jane. Solved Which of the following is true regarding a dual - Chegg C. fraud. Past correlation of US REIT returns (over the last 20+ years) tends to indicate which 44. B. once it has been reviewed by the Grievance committee One day, she is showing REALTOR Terrys listing. B. not a violation of Code, even if some of the recipients have their homes listed for sale. It is Marys listing and she has the key; the sellers are not home but told her to show it anytime. After the closing, Dan expressed his confusion because he thought Donna was representing him in the sale. B. the co-operating commission originally offered by Nelson. principal is liable for any injuries caused by the agent's intentional torts. C. purposefully leaving sold houses on a website to make your website look more robust At 6 p.m. the same day, the agent receives two more offers. A. by establishing a new contract with Mr. Johnson before the previous one had expired. A broker tells a buyer, "This home has the most beautiful river view." B. C. made a great decision. REALTOR Matthew brings a complicated purchase contract to Nelson that requests partial owner financing. If in a week, you are still thinking about a new agent, Id be happy to talk to you about how I would go about selling your house. B. disclosure of material facts. B. Misrepresentation or omission might result in broker liability, In a dual agency situation, a broker may represent both the seller and the buyer in the same transaction if. Principals are generally liable if an agent's frolic and detour is substantial. D. I will ask the selling REALTOR her opinion and get back to you., 109. Later that same day, a prospective buyer comes into the broker's office and asks for general information about homes for sale in the $130,000 to $140,000 price range but refuses representation by the broker's company at this time. judicial law. A. arbitration. Stan enters into an agreement with Tammy. Lynns action is The company has a large amount of unused capacity and is studying ways of improving profits. In fact, the view includes the river and the back of a shopping center. \text{Variable expenses}&\underline{\text{\hspace{5pt}315,000}}\\ Which of these items is a REALTOR required to discover and disclose, according to Article 2 of the Code of Ethics? Board of Directors. D. Article 17Arbitrate disputes, 15. An agent works as a salesperson for a principal who owns an automotive parts business. C) 143. Board of Directors. D. a violation of the Code; REALTOR Matthew did not have permission from REALTOR Nelson to contact Jennifer. A. allowable because the offer had already been presented and Matthew is just adding information. 16. 133. C. once it has been reviewed by the Ethics committee D. statement that the opinion of value is not the same as an appraisal, 113. B. aggressive, but ethical marketing efforts. ! D. Yes, Marty should not have said anything to the other REALTOR and the seller at the closing. A. C. A REALTOR accepts an undisclosed fee from a buyer while serving as a listing agent for the seller. B) Broker Paul introduces tenant Rhonda to a property. REALTORS Sherry and Vinod both show his property. A. accounting for any deposit monies she receives from him, which are put into a separate account The first thing Sam should do is Dual agency is a situation to describe when a real estate agent works with both the buyer and the seller. Click the card to flip Flashcards Created by D. litigate the matter with both REALTORS. B) 10/22 newly Which statement is correct? If two licensees, who are not REALTORS, have a monetary dispute, they disclosure of all facts that the real estate professional knows or should reasonably be expected to know that materially affect the value or desirability of the property. The broker has violated the agency relationship with the seller. B. arbitration complaints. the common law of agency in the state in which the property owner lives. 129. A REALTOR can use guided statements to diminish another REALTORs integrity. the seller must disclose, but the broker has no obligation to disclose. The functions of a facilitator or intermediary are those of A. REALTOR Ava posted an ad at her health club to inform people that she just created a new web page and listed her URL on the ad.
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