Real Estate 306 End of Chapter Practice CH12, Principals of Real Estate -- Test #1 problems; Questions and Answers 100% Correct
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Course
Real Estate 306
Institution
Real Estate 306
Real Estate 306 End of Chapter Practice CH12,
Principals of Real Estate -- Test #1 problems;
Questions and Answers 100% Correct
A down payment deposit from a potential buyer must be
held in:
a. The seller's bank account.
b. The salesperson's own bank account.
c. The broker's escrow trust ...
Real Estate 306 End of Chapter Practice CH12,
Principals of Real Estate -- Test #1 problems;
Questions and Answers 100% Correct
A down payment deposit from a potential buyer must be
held in:
a. The seller's bank account.
b. The salesperson's own bank account.
c. The broker's escrow trust account.
d. Long-term government bonds.
e. The broker's own bank account. Correct answer-c
One of the most effective ways that salespersons or brokers can distinguish themselves as a
preferred agent in a particular specialization of real estate brokerage is to:
a. Obtain a license to practice.
b. Take related courses.
c. Read related books.
d. Engage in personal advertising.
e. Obtain a related industry designation. Correct answer-d
All of the following are duties that a broker would have to the seller in a single agency listing
contract, EXCEPT:
a. Skill and care.
b. Obedience.
, Real Estate 306 End of Chapter Practice CH12,
Principals of Real Estate -- Test #1 problems;
Questions and Answers 100% Correct
c. Loyalty.
d. Knowledge.
e. Disclosure. Correct answer-e
Real estate salespersons can lose their licenses for:
a. Using aggressive sales techniques.
b. Not showing buyers all available properties in an area.
c. Commingling escrow (trust) money with personal funds.
d. Not using modern sales methods.
e. All of the above. Correct answer-c
The state real estate commission is responsible for:
a. Setting fees for brokerage services.
b. Marketing data on real estate transactions.
c. Establishing education requirements for licensees.
d. Overseeing the activities of mortgage lenders.
e. Setting up multiple listing systems. Correct answer-c
Real estate brokers are paid commissions primarily for:
a. Having an inventory of properties.
, Real Estate 306 End of Chapter Practice CH12,
Principals of Real Estate -- Test #1 problems;
Questions and Answers 100% Correct
b. Having many contacts.
c.Providing a service.
d. Knowing how to close a transaction.
e. Having specialized education. Correct answer-c
Traditionally, a real estate broker is what type of agent for his or her principal?
a. General agent.
b. Special agent.
c. Limited agent.
d. Designated agent.
e. All of the above. Correct answer-b
The subagency relationship that traditionally has characterized multiple listing services has
tended to result in the widespread danger of:
a. Monopoly.
b. Deliberate dual agency.
c. Unintended dual agency.
d. Discrimination.
e. Price wars. Correct answer-c
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