Real Estate Practice: Q 3/Chp 11-17

Question 1

1) A broker will be paid a full listing fee on the further leasing of the listed property without the broker’s consent when a(n) _________________ is included in the listing agreement.
a. withdrawal-from-sale clause
b. termination-of-agency clause
c. exclusive right-to-sell clause
d. None of the above.

Answer 1

a. withdrawal-from-sale clause (pg 97)

Question 2

2) A broker can require a seller to relist with them if the seller decides to sell within the cancellation period.
True
False

Answer 2

False (pg 101)

Question 3

3) The safety clause period commences on:
a. the expiration of a listing agreement by its own terms.
b. a seller’s termination of the agency before the listing period expires.
c. a seller’s withdrawal of the property from the market before the listing period expires.
d. Any of the above.

Answer 3

d. Any of the above (pg 107)

Question 4

4) A properly worded and perfected safety clause is enforceable:
a. only when a seller relists with the original agent.
b. only in a seller’s listing.
c. even when a seller relists with another broker.
d. None of the above.

Answer 4

c. even when a seller relists with another broker (pg 112)

Question 5

5) The price agreed to in a purchase agreement is based on the property conditions “as disclosed.”
True
False

Answer 5

True (pg 121)

Question 6

6) A broker needs to keep all advance cost accounting records for at least:
a. one year.
b. three years.
c. five years.
d. ten years.

Answer 6

b. three years (pg 127)

Question 7

7) Placing a “For Sale” sign ___________ is a misdemeanor public nuisance.
a. on private property with the owner’s permission
b. on public property with the city’s permission
c. Both a and b.
d. Neither a nor b.

Answer 7

d. Neither a nor b (pg 132)

Question 8

8) Special agency duties owed to a buyer by a broker arise when the broker enters into an exclusive right-to-buy listing agreement with the buyer.
True
False

Answer 8

True (pg 139)

Question 9

9) The exclusive right-to-buy listing agreement is the agent’s offer to render services for a fixed period of time.
True
False

Answer 9

True (pg 144)

Question 10

10) A cooperating broker is used as the title for:
a. the exclusive agent of the seller.
b. the subagent of the seller.
c. the exclusive agent of the buyer.
d. None of the above.

Answer 10

b. the subagent of the seller (pg 151)