quiz 8

Question 1

When a potential buyer asks questions about why the seller is selling the property, the broker?

Answer 1

May explain the request involves confidential information which he/she has not been given permission to disclose.

Question 2

In Oklahoma, the Common Law of Agency?

Answer 2

Has not been abrogated by the Oklahoma Brokerage Relations Act.

Question 3

The broker Relationships Act Provides that, when the transaction is terminated, the broker must?

Answer 3

Keep confidential information confidential

Question 4

Under the Oklahoma Broker Relationship Act, a broker shall not be?

Answer 4

An agent, a sub agents dual agent.

Question 5

In the event a broker receives a fee or compensation from any party to the transaction based on a selling price or lease cost in a transaction?

Answer 5

It does not constitute a breach of duty.

Question 6

The Brokers Relationships Act provides that, when the transaction is terminated, the broker must?

Answer 6

Keep confidential information confidential.

Question 7

If a firm provides brokerage services to both parties in a transaction?

Answer 7

Written notice to both parties shall be made in writing prior to the signing of a contract.

Question 8

Information concerning motivating factors, price and financing in relation to buyers and sellers, under the Broker Relationships Act is considered?

Answer 8

Confidential.

Question 9

A broker who is providing brokerage services to one or both parties shall?

Answer 9

Describe and disclose in writing the broker’s duties before the parties enter into a contract.