Unit 8: Real Estate Brokerage

Question 1

agent, real estate agent, and licensee refer to all entities holding a ____ _____ ______

Answer 1

real estate license

Question 2

Depending on state laws, licensees hired by brokerage firms are referred to as salespersons, broker associates, limited brokers, or associate brokers

Answer 2

noteNOTE

Question 3

the salesperson/broker associate is employed to represent the employing/principal _____

Answer 3

broker

Question 4

A salesperson/brokers associate can be either an employee or independent contractor. true or false

Answer 4

true

Question 5

The firm CANNOT require independent contractors to conform to office policies. true or false

Answer 5

false, they CAN

Question 6

Commission $ = commission rate x _____

Answer 6

sales price

Question 7

Tax = ___ ____ x rate

Answer 7

assessed value

Question 8

Sherman Antitrust law prohibits price _____

Answer 8

fixing

Question 9

defined as conspiring between business to establish fixed fees or prices for services

Answer 9

price-fixing

Question 10

A list of one numbers that telemarketers are not allowed to call

Answer 10

National Do Not Call Registry

Question 11

If someone on the do not call registry calls you, you can all them for up to ____ months

Answer 11

3

Question 12

may call consumers with whom they have an established business relationship for up to __ months after the last transaction

Answer 12

18