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Exam (elaborations)

Montana Real Estate Exam

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Montana Real Estate Exam 1. A MT broker must keep trust account records for: ️ 8 years. 2. If a zoning ordinance conflicts with a restrictive covenant: ️ The more limiting of the two controls. 3. Pierce has a buyer broker agreement. Pierce may legally receive a commission from: ️ Any pa...

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  • September 10, 2024
  • 3
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • Montana Real Estate Exm
  • Montana Real Estate Exm

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Montana Real Estate Exam

1. A MT broker must keep trust account records for: ✔️ 8 years.



2. If a zoning ordinance conflicts with a restrictive covenant: ✔️ The more limiting of the two controls.



3. Pierce has a buyer broker agreement. Pierce may legally receive a commission from: ✔️ Any party
with the knowledge and consent of the buyer.



4. A real estate licensee should disclose known defects to the buyer in which of the following situations?
✔️ In all situations.



5. Sarah is a licensed real estate broker who does not have a listing, is not a subagent of the seller, and
has no buyer broker agreement. Sarah is an example of a: ✔️ Statutory broker.



6. Several prospective buyers have made offers on one of your listing properties. Another possible
purchaser, Kirkland, Inc., is also interested in making an offer on the apartment. As the seller's agent, it
is legal for you to tell Kirkland: ✔️ Several other offers have been made.



7. A salesperson may: ✔️ Take listings with the broker's consent and approval.



8. At closing, the sales price would be a credit to the: ✔️ Seller.



9. The buyer of habitable property must be given a Montana radon gas disclosure statement: ✔️ At the
time the offer is made.



10. A salesperson has numerous listings, including several that are scheduled for closing. The
salesperson decides to affiliate with a different broker. Which of the following is correct? ✔️ Both the
listings and the closings remain with the old broker when the salesperson leaves for the new broker.

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