Chapter 1 Quiz

Question 1

how many brokers me a sales person work for at one time?

Answer 1

One

Question 2

Which of the following is a way to find the sponsoring broker?

Answer 2

Observe the real estate signs, check online sites and newspaper advertising in the areas you plan to service, call the local association of REALTORS®️

Question 3

What is the big example of a “sphere of influence “?

Answer 3

Friends, family, neighbors, and business associates you know in contact regularly

Question 4

a sales person who is actively engaged in professional real estate activities:

Answer 4

Must be employed by a licensed real estate broker

Question 5

A broker is required to have:

Answer 5

An accounting system (disbursement ledger)

Question 6

The listing agreement can best be described as A:

Answer 6

I Employment contract

Question 7

What is Brokers error and omission insurance?

Answer 7

insurance to protect the agent and broker against buyers and sellers claims

Question 8

In order to open his or her own office, real estate agent must:

Answer 8

Obtain a brokers license, secure the necessary capital, and decide on a location

Question 9

What are cold calls?

Answer 9

Contacting people the agent does not know

Question 10

All deposits from clients must be placed in a brokers trust fund account, given to the principal, or placed in a neutral escrow depository:

Answer 10

Within three business days from acceptance of offer