Exam (elaborations)
SUPERIOR REAL ESTATE SCHOOL: STUDY FOR RETAKE PRE-LICENSING COURSE EXAM 2024/2025
- Course
- Institution
SUPERIOR REAL ESTATE SCHOOL: STUDY FOR RETAKE PRE-LICENSING COURSE EXAM 2024/2025
[Show more]
Content preview
SUPERIOR REAL ESTATE SCHOOL: STUDY FOR RETAKE PRE-LICENSING COURSE EXAM 2024/2025
Designated agency in North Carolina is considered:
I. A form of dual agency II. Mandatory if you practice dual agency
A. I only
B. II only
C. Both I and II
D. Neither I nor II - Precise Answer ✔✔A. I only
Designated agency can be practiced:
I. Between two firms II. Between a broker-in-charge and a provisional
broker licensee in their office
A. I only
B. II only
C. Both I and II
D. Neither I nor II - Precise Answer ✔✔D. Neither I nor II
Under the general principles of agency, when a licensee is acting on
behalf of a client and acts improperly who is liable for the acts of the
licensee?
,A. only the client
B. only the licensee and the broker-in-charge
C. only the client and the licensee
D. the client, the licensee, the firm and or the broker-in-charge - Precise
Answer ✔✔D. the client, the licensee, the firm and or the broker-in-
charge
A disclosure of agency status should be made by a buyer's agent to the
seller:
l. With a written confirmation in the offer to purchase and contract ll. At
the initial contact with the seller's agent, orally or in writing
A. l only
B. ll only
C. Both l and ll
D. Neither l nor ll - Precise Answer ✔✔C. Both l and ll
Which of the following would be dual agency?
A. a broker-in-charge assisting a buyer client in the purchase of property
that was listed by a provisional broker of another firm
B. a provisional broker and a broker licensee from firms that are
cooperating in a transaction
C. a firm that represents buyers and sellers
, D. a broker having a buyer client for a property the broker personally
listed - Precise Answer ✔✔D. a broker having a buyer client for a
property the broker personally listed
A parcel of vacant land 80 feet wide and 200 feet deep was sold for $200
per front foot. How much money would an individual agent receive for a
60% share of the 10% commission earned?
A. $640
B. $960
C. $1,600
D. $2,400 - Precise Answer ✔✔B. $960
A buyer-client has instructed the agent to show only properties where
the seller is willing to pay the buyer agent's commission. The agent
contacts an owner selling a property without the assistance of a real
estate agent with the hope that the seller would be willing to pay her
commission if the buyer decided to purchase the seller's property. In
order to comply with North Carolina Real Estate Commission Rules, the
agent must do all of the following, EXCEPT:
A. obtain permission from her buyer-client in order to obtain
compensation from the seller
B. disclose her agency status to the seller at initial contact
C. convince the seller to list with her and authorize dual agency
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller YANCHY. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $16.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81989 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now