Exam (elaborations)
Texas Real Estate Agency Unit 2 questions with answers.
- Course
- Institution
Texas Real Estate Agency Unit 2 questions with answers.
[Show more]
Seller
Follow
Content preview
Texas Real Estate Agency Unit 2questions with answers.
An example of a general agency relationship would be one that exists between
A. the seller and the broker.
B. the buyer and the broker.
C. the sales associates and the broker.
D. the selling broker and the listing broker. ANS -C. the sales associates and the broker.
Special agency occurs when
A. the principals give an agent a limited authority to act on their behalf.
B. the principals give an agent authority to act for them in the operation of a business.
C. a person operates a real estate brokerage business.
D. a person operates a special real estate brokerage business. ANS -A. the principals give an agent a
limited authority to act on their behalf.
Brokers can buy a property listed with them under which of the following conditions?
A. If a family member secretly purchases the property for more than the asking price
B. Under no circumstances
C. Only if the property is listed under an open listing
D. Only if full disclosure is made to the seller of the broker's involvement as a purchaser ANS -D. Only if
full disclosure is made to the seller of the broker's involvement as a purchaser
Which statement is TRUE of listing agents?
A. They must communicate every offer, oral or written, to the owner.
, B. They may refuse to present an offer if it is too low.
C. They must tell the buyer the seller's lowest acceptable price.
D. They may tell the buyer the terms of a counteroffer the seller made yesterday. ANS -A. They must
communicate every offer, oral or written, to the owner.
A sales agent owes all of the following fiduciary duties EXCEPT
A. to inform the broker and the seller of material facts.
B. to be loyal to the best interests of the client.
C. to prepare a power of attorney for the buyer.
D. to obey the lawful instructions of the broker. ANS -C. to prepare a power of attorney for the buyer.
A listing agent tells a buyer-customer that the seller is under pressure to sell because of a recent
contract to purchase another house in Idaho. Such disclosure is
A. acceptable if it results in a sale.
B. acceptable if no details of the move to Idaho are disclosed.
C. unacceptable because of the fiduciary duty owed the owner.
D. unacceptable because the listing broker is the agent of the buyer. ANS -C. unacceptable because of
the fiduciary duty owed the owner.
Sally, as an agent for the seller, listed and subsequently sold George's town house. She did not tell
George that a major zoning change in progress would allow business use in the area, thus increasing
property values. Which statement is TRUE?
A. Sally was not required to disclose the change because George never asked her.
B. Sally was not required to disclose the change if George received his full asking price.
C. Sally was required to disclose the change because it was a material and pertinent fact.
D. Sally was required to disclose the change because the zoning laws require notice to all interested
persons. ANS -C. Sally was required to disclose the change because it was a material and pertinent fact.
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 Professorkaylee. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75759 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now