Real Estate U Final Exam Questions With 100% Verified Answers.
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Course
Real Estate U
Institution
Real Estate U
Real Estate U Final Exam Questions With
100% Verified Answers.
Amy is looking to obtain a loan to purchase a new house. Her monthly mortgage payment (PITI)
will be $3,650 per month. Amy's gross monthly income (her salary) is $12,000 per month. The
lender requires a front-end ratio of no more th...
REAL ESTATE U FINAL EXAM Questions
With 100% Verified Answers.
What discipline may be taken if a salesperson takes a property listing of a broker, after leaving
that broker... - answer✔The salesperson may lose his/her license
Which of the following is NOT exempt from having to obtain a real estate salespersons or broker
license to practice real estate...? - answer✔Architects
A price below which an owner will not sell the property, and at which price a broker will not
receive a commission is referred to as what...? - answer✔Net Listing
The right of the Department of State to deactivate a broker's or salesperson's license for
wrongdoing is known as what...? - answer✔Suspension
Any person who engages in the business of claiming, demanding, charging, receiving, collecting,
or contracting for the collection of, a fee from a customer for furnishing information concerning
the location and availability of real property, including apartment housing, which may be leased,
rented, shared or sublet as a private dwelling, abode, or place of residence is known as a/an...? -
answer✔Apartment Information Vendor
A licensed individual that charges a fee to serve as the mediator between the buyer and seller is
known as a...? - answer✔Real Estate Broker
8. What is a common breach of the fiduciary duty of accountability...? - answer✔Being negligent
with the client's money
the employer of an agent or broker is known as a...? - answer✔principal
Which of the following is NOT an example of an agency relationship...? - answer✔Landlord -
Tenant
As a special agent in a transaction, a real estate salesperson is permitted to do which of the
following on behalf of the client...? - answer✔Show the property
There are generally two ways an agent is compensated for a transaction. One is a percentage of
the sales price, while the other is...? - answer✔flat fee
36. Who does the agent bring to the principal in a transaction...? - answer✔A Customer
According to this doctrine, a principal cannot claim that an implied agency relationship did not
exist...? - answer✔Estoppel
Ely is a real estate broker who has entered into an agency relationship with Justin, a property
owner looking to sell his house. Ely brings James, a prospective buyer, to Justin with an offer to
purchase Justin's house. Which of the following statements is correct...? - answer✔Ely is the
Agent, Justin is the Principal, and James is the Customer
When a buyer's broker agrees to the cooperative arrangement of the MLS, he/she becomes what
to the seller, who's property is listed on the MLS...? - answer✔Sub-agent
Andrew, a real estate broker representing the buyer in a transaction, has entered into a dual
agency arrangement after agreeing to the MLS cooperative arrangement. What does Andrew owe
the seller in the transaction...? - answer✔Fiduciary responsibilities
If an agent signs an Exclusive Right to Sell agreement with a client and does NOT sell the
property within the term listed in the agreement, who is given authority to renew the agreement
between seller and agent...? - answer✔The Seller
What alternative action can be taken if consent to dual agency is not granted or subsequently
withdrawn...? - answer✔Assign designated sales agents
hen a buyer's broker agrees to the cooperative arrangement of the MLS, he/she becomes a sub-
agent to whom...? - answer✔seller
hen two brokers agree to the MLS' cooperative arrangement, what type of agency is created...? -
answer✔expressed
In a single agency transaction, what are the seller's broker's duties to the buyer...? - answer✔To
be fair and honest
chris, a real estate broker representing a buyer, insists that his client use his home inspector
during the due diligence phase, otherwise, he will only show the client a limited number of
properties. What has Chris introduced to his client...? - answer✔tie-in-agreemetn
Marcus, a real estate broker representing a buyer, is insisting that his client use his real estate
attorney, otherwise, he will only show a limited number of properties to the client. What has
Marcus introduced to his client...? - answer✔tie-in-agreement
the amount of commission paid to an agent for a residential rental transaction is typically based
on a percentage of this amount...? - answer✔total annual rent
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