Chapter 2

Question 1

The content of the Agency Law Disclosure form is not dictated by statute.

a. True
b. False

Answer 1

B

Question 2

An Agency Law Disclosure form needs to be presented to all parties by an agent when listing, selling, buying or leasing for a term greater than one year:

a. commercial property.
b. mobilehomes.
c. Both a and b.
d. Neither a nor b.

Answer 2

C

Question 3

A separate agency confirmation provision is not mandated for inclusion in purchase agreement forms.

a. True
b. False

Answer 3

B

Question 4

An open listing does not need to contain an expiration date.

a. True
b. False

Answer 4

A

Question 5

A seller’s broker needs to disclose to the seller the broker fee they will receive on a net listing:

a. before the close of escrow.
b. before the seller signs the listing agreement.
c. before the seller accepts a buyer’s offer.
d. None of the above.

Answer 5

C

Question 6

A broker is prohibited from including an advance fee provision in a guaranteed sale listing.

a. True
b. False

Answer 6

A

Question 7

n exclusive right-to-sell listing agreement entitles a broker to collect a fee when they locate a ready, willing and able buyer and submit the buyer’s full listing offer to the seller.

a. True
b. False

Answer 7

A

Question 8

A client’s oral promise to pay a broker fee entitles the broker to enforce collection of the fee.

a. True
b. False

Answer 8

B

Question 9

The diligent effort of a broker under an exclusive listing includes:

a. analyzing the property.
b. marketing the property.
c. Both a and b.
d. Neither a nor b.

Answer 9

C

Question 10

A right-to-buy listing supersedes a replacement property provision in an exclusive right-to-sell listing.

a. True
b. False

Answer 10

A