Unit quiz 9 Flashcards
Junk emails are prohibited by what legislation?
A) CAN-SPAM Act
B) COPPA
C) TCPA
D) FCC Act
A) CAN-SPAM Act
The federal Controlling the Assault of Non-Solicited Pornography and Marketing Act of 2003, known as the CAN-SPAM Act, prohibits junk emails. An important feature of this law, which applies to commercial electronic mail messages, is that email solicitations must include a means by which the recipient can “unsu bscribe” from future messages.
After a particularly challenging transaction finally closes, the client gives a sales associate a check for $500 “for all your extra work.” Which statement is accurate?
A) Such compensation is irregular but appropriate for the sales associate to accept.
B) The sales associate should accept the check and deposit it immediately in a special escrow account.
C) The sales associate may receive compensation only from the broker.
D) The sales associate’s broker is entitled to 80% of the check.
C) The sales associate may receive compensation only from the broker.
Two real estate professionals were found guilty of conspiring with each other to allocate real estate brokerage markets. A seller suffered a $90,000 loss because of their activities. If the seller brings a civil suit against the two real estate professionals, what can the seller expect to recover?
A) Only $90,000—the amount of actual damages the seller suffered
B) Nothing, because a civil suit cannot be brought for damages resulting from antitrust activities
C) Actual damages plus attorney’s fees and costs
D) $270,000 plus attorney’s fees and costs
D) $270,000 plus attorney’s fees and costs
Under federal law, victims of such activities in restraint of trade (antitrust activities) are entitled to treble (triple) damages plus attorney’s fees and costs if the alleged perpetrators are found guilty.
A broker’s policy requires a 7% commission on all listings; no lower commission rate is acceptable. Which statement is TRUE?
A) The sales associates associated with the brokerage will not be bound by the requirement and may negotiate any commission rate they choose.
B) The broker may legally set the minimum commission rate acceptable for the firm.
C) The broker must present the uniform commission policy to the local professional association for approval.
D) A homeowner may sue the broker for violating the antitrust law’s prohibition against price-fixing.
B) The broker may legally set the minimum commission rate acceptable for the firm.
Hinting to prospective clients that there is a “going rate” of commission or a “normal” fee implies that rates are, in fact, standardized and is
A) not a violation of antitrust laws.
B) a violation of antitrust laws.
C) recommended by the National Association of REALTORS® to insure fair competition in maintaining fair fees.
D) a common practice allowed in most states.
B) a violation of antitrust laws.
Which statement BEST explains this sentence: “To recover a commission for brokerage services, a broker must be employed as the agent of the client”?
A) The broker must have a salesperson employed in the office.
B) The broker must work in a real estate office.
C) The broker must express an interest in representing the client.
D) The client must make an express or implied agreement to pay a commission to the broker.
D) The client must make an express or implied agreement to pay a commission to the broker.
A valid employment agreement is one of the usual requirements in a suit for a brokerage commission; it is - (?)
proof of employment.
When acting as an employee rather than an independent contractor, a sales associate may be obligated to
A) advertise property on his or her own behalf.
B) work set hours.
C) accept a commission from another broker.
D) list properties in his or her own name.
B) work set hours.
The amount of commission paid to a sales associate is determined by
A) mutual agreement with the client.
B) state law.
C) the local real estate board.
D) mutual agreement with the broker.
D) mutual agreement with the broker.
A broker can agree upon which of the following with an independent contractor?
A) Compensation the person would receive
B) Work schedule the person would have to follow
C) Sales meetings the person would need to attend
D) Number of hours the person would have to work
A) Compensation the person would receive
A broker has established the following office policy: “All listings taken by any sales associate of this real estate brokerage must include compensation based on a 7% commission. No lower commission rate is acceptable.” If the broker attempts to impose this uniform commission requirement, which statement is TRUE?
A) The sales associates of the brokerage will not be bound by the requirement and may negotiate any commission rate they choose.
B) A homeowner may sue the broker for violating the antitrust law’s prohibition against price-fixing.
C) The broker may, as a matter of office policy, legally set the minimum commission rate acceptable for the firm.
D) The broker must present the uniform commission policy to the local professional association for approval.
C) The broker may, as a matter of office policy, legally set the minimum commission rate acceptable for the firm.
Group boycotting is illegal and occurs when
A) agents refuse to provide services to a certain class of individuals.
B) a group of neighbors decide to boycott the services of a particular agent.
C) two or more businesses conspire against another business or agree to withhold their patronage to reduce competition.
D) agents of one real estate organization refuse to socialize with another.
C) two or more businesses conspire against another business or agree to withhold their patronage to reduce competition.
