301 post licensing - Study guides, Class notes & Summaries

NC Post Licensing 301 Practice Exam 1 with complete solution

When must a seller's agent or subagent initially disclose agency status to a buyer? - before buyer and buyer's agent discuss motivation and financial information seller's subagent - no written or oral buyer agency OLDCAR - obedience loyalty disclosure confidentiality accounting reasonable care In dual agency, the agent's duties are _____ to being a facilitator - reduced What statement would require full disclosure of all financing terms in compliance with TILA, Reg Z and RESPA - a...

NC Post Licensing 301 Practice Exam 1 88 100 Real exam questions and answers latest update

NC Post Licensing 301 Practice Exam 1 (88/100)-Q&A

NC Post Licensing 301 Practice Exam 1 questions and answers latest 2024

301 Post licensing Questions with 100% Correct Answers | Verified | Latest Update

A seller's agent or sub-agent must initially disclose her agent status to a prospective buyer when? - Before buyer and agent discuss motivation or financial information. What fiduciary duties are owed to principals? - Obey, Loyalty, Disclosure, Confidentiality, Accounting, & Reasonable care (OLD CAR) As a dual agent, my fiduciary responsibilities are reduced to the buyer and seller under what agency? - Dual Agency - agent cannot advise or council Material facts which must be disclosed - ...

301 Post Licensing Exam Questions With 100% Correct Answers. What are the basic duties that an agent owes a principal under Agency Law? - answerOLDCAR or LOADS - loyalty/confidentiality, obedience, accounting, disclosure, skill, care and diligence. What is the definition of a fiduciary relationship? - answerA person who acts for another in a relationship of trust and who is obligated to act in the other's best interests, placing the other's interests before any self- interest. Does vi...

NC Post Licensing 301 Practice Exam 1 88/100

1/50 Under which of the following circumstances would the client and agent most likely mutually agree to terminate a listing? a A buyer approached the seller with a much higher offer than the current listing price. b The agent and client don't agree on the best way to price, maintain, and market the property. c The client has found a buyer and wants to avoid paying a commission. d The client's cousin just became licensed and needs her first listing. - ANSWER b The agent and client don't a...