Colibri Real Estate Chapter 2 Quiz Questions with Correct
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Course
Colibri Real Estate
Institution
Colibri Real Estate
Colibri Real Estate Chapter 2 Quiz
Questions with Correct
An agency relationship may be involuntarily terminated by which of the following? -
Answer-By destruction of the property through fire, vandalism, or natural disaster
When a seller authorizes a unilateral offer of subagency to all MLS me...
The licensee may disclose to the seller the financial status of the potential buyer
customer. Is this statement true or false and why? - Answer✔✔-True if the agent has
knowledge of the buyer's financial status
Representing both principal parties to a real estate transaction is - Answer✔✔-A dual
agency
A legal doctrine by which a person is prevented from asserting rights or facts that are
inconsistent with a previous position or representation made by act, conduct, or silence
is - Answer✔✔-An estoppel
If an agency relationship has not been established by a written agreement, does the
relationship exist, and if so, what kind of relationship is it? - Answer✔✔-Yes, it is an
implied agency
Before a licensee sign a listing agreement with a seller, he/she mist - Answer✔✔-
Give the seller an agency disclosure
A licensee for the buyer has a duty to disclose such things except - Answer✔✔-why
the seller is selling if the licensee knows this from a previous relationship with the seller
The licensee could be known as a transaction broker, facilitator, or coordinator in which
type of agency? - Answer✔✔-Non-agency
To make it easier to describe elevations, surveyors refer to standard elevation points
called - Answer✔✔-Benchmarks
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