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WRA Chapter 1 Vocabulary With complete solution

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WRA Chapter 1 Vocabulary Questions and Answers Latest Updated 2024

WRA Chapter 1 Vocabulary Questions & answers with Complete solutions | Latest edition

What is a fiduciary? A person who is responsible for the property of another. When must a licensee inform a client about multiple representation relationships? Prior to or at the time of entering into the agency agreement. To whom does a licensee owe the duties of providing brokerage services fairly and honestly, providing accurate market conditions, safeguarding trust funds, using reasonable skill and care, disclosure of all material adverse facts, confidentiality, and objectively presenti...

T/F: A builder who enters into 10 building contracts in one year must have a real estate license. - ANSWER False A person needs a real estate license when selling real estate or a business. When a builder executes a contract to build a property rather than sell it, the contract is for the sale of personal property, not real estate and the pattern of sales requirement for a real estate license does not apply. If the builder includes the sale of land with the building contracts, the pattern of s...

What is a fiduciary? A person who is responsible for the property of another. When must a licensee inform a client about multiple representation relationships? Prior to or at the time of entering into the agency agreement. To whom does a licensee owe the duties of providing brokerage services fairly and honestly, providing accurate market conditions, safeguarding trust funds, using reasonable skill and care, disclosure of all material adverse facts, confidentiality, and objectively presenti...

WRA Chapter 13 Vocabulary With complete solution

WRA Chapter 13 Vocabulary Questions & answers with Complete solutions | Latest edition