Buyer agency duties - Study guides, Class notes & Summaries
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NCREL Post Licensing 301 Broker Relationships and Responsibilities | Questions with 100% Correct Answers | Verified | Latest Update 2024
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NCREL Post Licensing 301 Broker Relationships and 
Responsibilities | Questions with 100% Correct 
Answers | Verified | Latest Update 2024 
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 a...
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Post 301--Broker Relationships and Responsibilities Questions With 100% Correct Answers.
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Material 
fact - About the property 
Related to the property 
Principal able to complete the transaction 
Special importance 
Disclosing material facts about a seller's property - To client or customer 
Even if it hurts your customer 
Regardless of how pubic the material fact is 
Listing agent has highest responsibility 
Buyer agent is responsible to disclose if known 
Answer questions to avoid misrepresentation 
Willful - intentional 
Negligent - Unintentional--failure to exercise reasonable c...
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Wisconsin Real Estate Exam Correct Questions & Answers
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The foundation upon which real estate brokerage is practiced - ANSWER Agency 
 
A legal and ethical relationship created between a real estate firm and a party to a transaction; the party may be a buyer, seller, landlord, or tenant - ANSWER Agency Relationship 
 
A written agreement between a firm and a client; the client authorizes the firm to provide brokerage services to the client - ANSWER Agency Agreement 
 
What are two agency agreements? - ANSWER Listing Agreement 
Buyers Agency Agreemen...
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RECA Fundamentals Exam Questions and Answers Already Passed
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RECA Fundamentals Exam Questions and Answers Already Passed 
Which of the following is NOT a RECA educational resource for industry professionals? Spatial Information System (Spin 2) 
Which entity has the authority to amend the Real Estate Act Provincial Legislature 
Which of the following measures the change in a cost of a fixed basket of goods and services purchased by families over a period of time Consumer Price Index (CPI) 
Which of the following will occur to the supply of a good when ther...
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Test Bank for Business Law and the Legal Environment, Version 3.0 by Don Mayer
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Test Bank for Business Law and the Legal Environment Version 3.0 by Don Mayer, Daniel Warner, George Siedel, and Jethro K. Lieberman. Full Chapters test bank are included - Chapter 1 to 53 
 
Chapter 1: Introduction to Law and Legal Systems 
1.1 What Is Law? 
1.2 Schools of Legal Thought 
1.3 Basic Concepts and Categories of U.S. Law 
1.4 Who Makes the Law 
1.5 Legal and Political Systems of the World 
1.6 A Sample Case 
1.7 Summary and Exercises 
Chapter 2: Introduction to Corporate Social Resp...
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NYREI School Exam Questions and Answers Latest Version Graded A+
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NYREI School Exam Questions and Answers Latest Version Graded A+ What is the minimum licensing requirement to sell commercial real estate in New York? a real estate salesperson's license 
What is the preferred method of creating an agency relationship? expressed agency 
An amenity purchaser occupies or uses the purchased property 
Condominium units are considered _____ property and are conveyed by _____. real / deed 
A salesperson who is an independent contractor is not subject to withholding r...
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Texas Principles of Real Estate 1 Final Exam | Questions and Verified Answers | Grade A | 2024 / 2025 Update
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Texas Principles of Real Estate 1 Final Exam | Questions and Verified Answers | Grade A | 2024 / 2025 Update Q: An insurance policy protecting against a variety of hazards is referred to as a...? Homestead Policy Individual Policy Homeowners Policy Package Policy Answer: Homeowners Policy Q: Which of the following is an advantage to owning a home...? Tax benefits Pride of ownership Potential for asset appreciation All of the above Answer: All of the Above Q: An individual is exempt from paying t...
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Law of Agency – Champions Exam Questions and Answers (Graded A)
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Which of the following has the authority to suspend or revoke a Texas real estate license? - Answer- TREC 
 
Which of the following is an element of a listing agreement? - Answer- the agreement to pay a stated commission, usually a percentage of the sales price 
 
the IRS considers which of the following a violation of independent contractor status? - Answer- salesperson is told to work set hours, guaranteed a monthly minimum wage, has his licensing fees paid by the broker 
 
the TAR buyer repre...
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Colibri Real Estate Chapter 2 Quiz Questions And Answers Latest Updates
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When the agency relationship has been terminated, the licensee is no longer 
considered the principal's agent but still owes which of the following duties to the 
principal? - ️️Accounting 
Which of the following may not involuntarily terminate an agency relationship? - 
️️Expiration of the agreement term 
When a seller authorizes a unilateral offer of subagency to all MLS members, any agent 
who shows the listed property automatically becomes - ️️A subagent 
An agency relationship ...
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MD Real Estate License Exam Questions and Answers 100% Pass
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MD Real Estate License Exam Questions 
 
and Answers 100% Pass 
 
Which of the following is one of the buyer's responsibilities as stated in the Maryland exclusive 
buyer agency agreement? 
 
-The buyer must work exclusively with the broker during the term of the agreement. 
 
-The buyer has seven days to consent to being represented by a designated or dual agency before 
terminating the agreement. 
 
-The buyer must attend three open house events on their own. 
 
-The buyer must make a purchas...
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