Exam (elaborations)
Real Estate Sales Exam WRA.
- Course
- Institution
Real Estate Sales Exam WRA.
[Show more]
Seller
Follow
EXAMQA
Reviews received
Content preview
Real Estate Sales Exam WRABroker - CORRECT ANSWER-One who asked for another for compensation in
matters of real estate is the definition of:
More than for sales in one year or 10 sales in five years - CORRECT
ANSWER-A builder can sell his spec homes without selling them under a brokers
license as long as the builder does not sell :
Option to purchase - CORRECT ANSWER-An agreement whereby one of the
parties acquires the right to purchase a parcel of real estate, but not the
obligation to purchase such real estate is called a(n):
May complete the offer for the buyer as Sam is a party to the contract and he is
selling his own property. - CORRECT ANSWER-Fam is selling his own
residential property and he intends to fill out the offer for any buyer wishing to
purchase his property. Sam;
An individual negotiating the terms of the sale of their parents home. -
CORRECT ANSWER-Which of the following activities require a real estate
license?
- John Smith is a fiduciary agent.
- John Smith must disclose his relationship with his sister to any buyer.
- Sally Smith is a principal.
- John Smith is the buyer's broker in this relationship. *** (no, he is the listing
agent) - CORRECT ANSWER-Sally Smith listed her real estate with her brother
John Smith, who is a licensed real estate broker. Which of the following is not
true:
Cobrokerage - CORRECT ANSWER-If two brokers were involved in one
transaction, it would be known as?
- Baker has violated his agency responsibilities to Jones.
- bigger should not have disclose this information without the consent of Jones.
, - Bacon could have disclose this information if the buyer in the situation had been
his client, as well as Jones. *****
- Baker breach of the duty of loyalty. - CORRECT ANSWER-Ruth Jones listed
her home with Tom Baker of Lakeside Realty as she is getting married and
moving to New York next month. To expedite the sale of Ruth's home, Tom Baker
disclosed to a potential buyer that Jones would take less than listing price,
without discussing this with Jones. In this situation, which is not correct?
Loyalty - CORRECT ANSWER-Broker Matt Damon showed his buyer client an
income property that broker Damon is considering purchasing for himself. The
biggest danger in the situation is that the broker will breach of duty of:
Is obligated to render faithful service to the seller. - CORRECT ANSWER-In
Wisconsin, a real estate broker acting as the agent of the seller:
Buyers broker - CORRECT ANSWER-The buyer under a buyer agency hires:
- Bauer is the agent of Sam Seller.
- Thomas is the agent of Bauer.
- Thomas and Bauer owe fiduciary duties to the seller.
- if Thomas dies, the agency will be terminated. ****** - CORRECT
ANSWER-Sam Seller listed his property with salesperson Sadie Thompson who
works for broker Bauer. Which of the following statements in correctly describes
the relationship among the parties?
Buyer - CORRECT ANSWER-The Buyer's agent owes fiduciary duty's to:
Seller - CORRECT ANSWER-A selling subagent owes the duty of loyalty to the:
Seller - CORRECT ANSWER-The listing broker is fiduciary duties to the:
One who originates or starts an uninterrupted chain of events that lead to the
sale. - CORRECT ANSWER-An agent who procured the buyer is best defined
as:
A broker firm represents both buyer and seller. - CORRECT ANSWER-A dual
agency occurs when:
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller EXAMQA. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
62451 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now