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In what way can a real estate agency relationship be created?

What agency relationship requires the informed consent of both parties (buyer and seller)?

When you authorize a broker to act for you “after” he or she has already done so, it is known as:

In California, any person in real estate who is acting in return for compensation from others, must have a Department of Real Estate license to:

An agency relationship does not require which of the following?

What are included steps in agency disclosure?

Real estate laws in California related to real property apply to:

Civil law requires that both parties to a transaction be informed of the various options they have regarding agency representation. Which form is used for this purpose?

A contract to employ a broker as an agent, to do certain things for the owner/seller, and serve as an employment contract for personal service is called a:

A non-listing broker with whom the listing broker agrees to share a commission (not necessarily ½ and ½) if the non-listing broker sells the property is a:

Which of the following would be a reason to terminate an agency relationship?

What type of brokerage mandates that the broker acts in the best interest of the buyer?

Which of the following is not a fiduciary duty?

What fiduciary duty does a broker neglect by failing to disclose the buyer’s inability to afford a down payment?

Which two parties are responsible for determining the commission earned by the broker?

A salesperson is presented with two offers on a listed property. One is above the listing price and another below, which offer should he present to the seller?

What is the relationship between a broker and their client called?

What is the law of agency?

Which is an example of ostensible agency?

The buyer’s earnest money deposit may be:

The primary purpose of a listing agreement is to:

A prospective buyer could be entitled to damages from a real estate broker if the broker:

To whom must the agency disclosure be given when a broker represents a seller of a property?

When a licensee signs a contract and becomes the buyer’s agent, the licensee will want to inform other parties with a vested interest in the transaction:

In a typical agency relationship between the broker and the client, the broker’s commission is determined by:

Which of the following does not have to be included in a written listing agreement?

Typically a listing broker is considered to be:

The representation of opposing principals (buyers and seller) at the same time would be a:

If a broker is an agent of a seller, he owes to the buyer:

Henry is a licensed broker and Andrew is a client who’s selling his home. Henry finds a “ready, willing and able” buyer who makes an offer that Andrew accepts in writing. However, Andrew later has a change of heart, decides to withdraw his home from the market and cancels the sale. Which of the following statements is TRUE regarding Andrew’s action?

Ethical practices of a real estate licensee most nearly means:

A real estate licensee generally acts:

Compliance with agency relationship law enacted as a part of the civil code would be required in which of the following transactions:

Which of the following would not terminate an agency relationship?

Which of the following would create a dual agency situation:

To the seller, a real estate broker representing the seller usually is

When negotiating a lease on behalf of a commercial real property landlord, the broker would usually calculate his commission as:

The words “procuring cause” would have an important meaning to which of the following?

When a real estate agent acts exclusively as a buyer’s agent, he can:

Malcom is buying a residence. After signing a valid agreement for sale, he asks the broker for permission to move into the property before the sale closes. The broker should:

A listing agreement is essentially a/an:

Susan is a real estate licensee and has a buyer agency agreement. What is the seller’s relationship to her in this situation?

An actual agency relationship that arises by the actions of the parties rather than by expressed written agreement is called:

While Zach was completing the course work for his real estate license, his neighbor asked him for help selling his house and offered a 5% commission. Zach agreed, found a buyer and the transaction was completed two days after he received his license. However, the neighbor now refuses to pay the agreed-upon commission. Can Zach sue for damages?

Vivian is a seller who has a change of heart after accepting an offer. Which of the following applies to Vivian’s broker?

Vivian has a buyer’s agency agreement with Anne. Vivian is also the listing broker for a property Anne is interested in purchasing. Which of these is the TRUE statement?

The effort that brings about the desired result in a real estate sale is known as:

In some cases, a broker’s commission can be earned by proving that he set in motion a series of events which resulted in the sale of a property. If a broker produces a ready, willing and able buyer, he would most likely:

When a listing does not authorize the broker to accept a deposit but the broker finds a purchaser and accepts a deposit anyway, the deposit is held by the broker:

There is a spectacular house that a salesperson from Firm A has been trying for several weeks to list for sale. The owners have been interviewing salespeople from different firms. They tell Firm A’s salesperson that Firm B will charge 2% less commission for selling the house. What should Firm A’s salesperson say to the owner to get the listing?

The amount of a broker’s commission usually is:

Betty is a broker with a client who wants to sell his home. In addition, she has a buyer’s agency agreement with Peter who wants to purchase that home. Under what circumstances may Betty represent both parties in this transaction?

Stephen, a buyer, wanted to use a promissory note for consideration on the purchase of a property. Can Stephen do this?

In which of the following ways could an agency relationship not be created?

The position of trust assumed by the broker as an agent for the client is described most accurately as a

Broker Bob entered into an oral listing with a seller without subsequent written verification. As to the payment of a commission to Broker Bob, it would be:

When is a broker relieved of the obligation to present an offer to purchase real property to the principal:

Which of the following is not essential to the creation of an agency relationship?

When serving as a buyer’s agent, according to the Civil Code sections dealing with agency, a licensee owes a fiduciary duty:

The principal to whom a real estate agent gives advice and counsel is a:

Arthur, a licensed principal real estate broker, was sued for conversion. This means Arthur allegedly did which of the following?

A real estate broker was responsible for a chain of events that resulted in the sale of one of his client’s properties. The broker is legally called the

The fiduciary obligation to protect a client’s confidential information continues:

Agency disclosure is a 3-step process:

An agency relationship could be terminated by all EXCEPT:

When a salesperson takes a listing which does not authorize the listing broker to accept an earnest money deposit from an offeror, the broker should advise his salesperson that:

If Carol wishes to sell her own house does she need a real estate license?

Dan is house shopping and contacts a real estate office. He tells the agent, Stephen, that he is interested in the area but is not ready to sign any agreements just yet. Stephen can be helpful and accommodating with many actions, except which one of the following?

Douglas is a broker who has entered into a listing agreement with a seller. Oscar is a broker who has been working with the buyer and learns of the property through the MLS. Who does Oscar represent?

Both a buyer and a seller have agreements with the same real estate agency. Can the buyer make an offer on the seller’s property?

Which of the following would not be legally proper for a licensee to do?

What is the definition of “dual agency” in California?

Which clause safeguards an agent’s commission after the listing expires?

What are the steps to completing the agency relationship disclosure process (in the correct order)?

Which is the most common type of real estate agency?

The law of agency applies to which of the following relationship(s)?

When does a real estate salesperson first provide the agency disclosure form?

What kind of agent is a real estate agent?

Which fiduciary duty is violated by commingling?

The typical relationship of real estate broker to the principal is that of

Which of the following is not required of a single agent with respect to his principal?

Which of the following does not terminate an agency relationship?

To prove her right to a commission, a broker must show

Among other things, the principal is obligated to

A real estate agent

A special agent is one

Which real estate participants are legally required to be licensed?

What is an agent required to do if a client refuses to sign an agency disclosure form?

If a salesperson’s commission is not paid, he resorts to?

Which statement is a listing agent required to reveal to a prospective buyer?

Which of the following is a common-law fiduciary duty?

A defect that is not apparent after an ordinary inspection is called a(n) _________.

Which of the following will terminate an agency in a broker-seller relationship?

Mary’s agent helped her purchase a property and negotiated a mortgage for her. This agent also represented the seller. What type of agent did Mary engage?

Among other things, an agent is obligated to

In a dual agency

The rate of commission on real estate sale is

As a general rule, escrow money received by the broker

In a transaction broker relationship, the seller or buyer

A way to terminate a brokerage relationship is

Brokerage representation may legally include

Termination of a brokerage relationship may occur as a result of

A single agent must

A person who wishes to sell his or her own house

Which of the following, when performed for others, are included as real estate services for the purposes of determining licensure requirements?

The legal relationship of a single-agent listing broker to the owner is that of

Dual agency is defined as an arrangement in which

A single agent relationship provides a ___________ with a seller.

When a real estate attorney wants to earn a commission for performing real estate services, he or she must

A broker is killed in a plane crash. His listings are

A salesperson may accept compensation from

The buyer gives a $5,000 earnest money check to the seller’s broker with instructions not to deposit the check for a week and not to tell the seller that the check has not been deposited. The seller’s broker should

A listing is given to the broker by the

The seller has accepted an offer. An hour later, the broker receives an offer. The broker should

Most of the work in a real estate sale is carried out by a licensed salesperson. Who is the legal agent?

Seller Agent Orange receives three offers on Green’s house. He should

A broker’s principal role when representing a seller is to

When a broker is a selling agent, his fiduciary obligations to his principal include

Commission splits between brokers and salespersons are

An agency relationship can be established by

If the owner informs the broker that he wants single agent representation, what should the broker do?

Broker Martin holds $10,000 as earnest money on the purchase made by will. When can Martin remove the earnest money from the escrow account?

A listing should terminate

A prospective buyer tells a broker that he has won a $1 million lottery. The broker should tell

You are representing seller Sam and bring buyer Bill, your customer, to see the house. Bill makes an offer. Bill has privately told you that he went through bankruptcy two years ago, but he thinks he will be financially approved to buy the house. What, if anything, should you do with the information about the bankruptcy?

A licensed real estate salesperson can lawfully accept an extra commission in a difficult sale from

A. broker with a listing brings a contract from a ready, willing, and able buyer, at the listed price, which the seller is considering. Generally, the broker has earned his commission

A listing agent knows that the house has a roof leak, the water heater is not up to city code, and the seller must sell quickly because of financial difficulties. The agent is showing a potential buyer the property. What can or must the agent legally say?

The rate of brokerage commissions for the sale of a house is determined by

When answering questions a buyer raises about home defects, the salesperson should

A broker listed a house for sale. A potential buyer is owed what duty?

The owner of a shopping center signed a management agreement with a real estate broker. Is there an agency relationship?

The fiduciary responsibilities of a real estate broker should be explained to all parties except

A real estate broker should not deposit earnest money in his personal account to avoid

A broker has a listing on a house. A buyer tells the broker that he will pay more than the listing price if the owner requests it. The broker

Under what circumstances is a salesperson permitted to spend a client’s money for personal purposes?

A prospective buyer is interested in investment property. The broker he contacts has no experience in investment property. The broker should

A real estate salesperson resigned from one broker and was soon employed by another. The listings the salesperson brought to the first broker

A fiduciary must act in the best interest of

A state-licensed real estate salesperson can collect a commission from

A dual agent represents

A broker acting as a dual agent may not

A real estate broker is engaged by the owner with a listing. The broker is a(n)_________

In order to collect a commission from the sale of real estate, a broker must be licensed

A valid purchase and sale agreement must contain

Two offers are received by the broker at the same time. The broker must

A person who has the right to act for another is

To collect a commission in court, a broker must show that

The broker’s responsibility to the owner of realty is regulated by

What is a real estate listing?

Buyer and seller both may pay a commission so long as

It is possible to terminate a listing by