Exam (elaborations)
301 Post-Licensing Exam Questions With 100% Correct Answers 2024
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301 Post-Licensing Exam Questions With 100% Correct Answers
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301 Post-Licensing Exam QuestionsWith 100% Correct Answers
ThreeisourcesiofiAgencyiobligationsi-iCorrectiAnswer-1.iCommoniLaw
2.iGeneraliStatutes
3.iCommissioniRules
Potentialiconsequencesiwheniailicenseeibreachesiagencyiobligationsi-
iCorrectiAnswer-1.iCivililiability
2.iCriminaliliability
3.iEthicaliliability
4.iNCRECidisciplinaryiactions
Theicommissionimayineveri____________iailicenseeiasipartiofiaidisciplin
aryiactioni-iCorrectiAnswer-fine
Fiduciaryidutiesiareiimportantibecauseitheyiimpacti________ithaticonsu
mersihaveiiniworkingiwithirealiestateiprofessionalsi-iCorrectiAnswer-
trust
Fiduciaryidutiesioweditoiprincipalsi-iCorrectiAnswer-O:iObedience
L:Loyalty
D:iDisclosure
,C:iConfidentiality
A:iAccounting
R:iReasonableicare
Licenseesiareirequireditoifollowitheidirectionsiofithei________iunlessith
oseiinstructionsiarei___________i-iCorrectiAnswer-client
unlawful
Ifiaiclientigivesiailicenseeiillegaliinstruction,ithenitheilicenseeishouldi___
____________________________________i-iCorrectiAnswer-
explainitheiillegalityiofitheiinstructions;imayiterminateirelationship
TypicaliagencyirelationshipsiinirealiestateiDOiNOTipermitiheiagentitoi-
iCorrectiAnswer-1.iMakeidecisionsiforitheiclient
2.iSigniforitheiclient
3.iMake/acceptioffersioniclientsibehalf
Theiobligationiofiloyaltyirequiresiailicenseeitoiputithei_________iinteres
tiaboveialliothers,iincludingi____________i-iCorrectiAnswer-clients
youriown
ObligationsiofiDisclosureiinclude:i-iCorrectiAnswer-
1.iAgencyiexplanation
2.iMaterialiFacts
, 3.iInterestsiinitheitransaction
4.iStatusiasiailicensee
ObligationsiofiConfidentialityiinclude:i-iCorrectiAnswer-1.iMotivations
2.iFinances
3.iAmountiwillingitoipay/accept
4.iPersonaliInformation
Ailicenseeihasianiobligationitoi_____________iandi___________ihandle
diiniairealiestateitransactioni-iCorrectiAnswer-safeguard
document
Licenseeiisirequireditoinotibei_____________iandipossessireasonablei__
______________i-iCorrectiAnswer-negligent
knowledgeiandiskill
Materialifactsimustibeidiscloseditoi____________i-iCorrectiAnswer-
allipartiesiinitheitransaction
Ailicenseeimustidisclosei____________________iandi_______________
_______i-iCorrectiAnswer-everythingiyouiknow
everythingiyouishouldiknow
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