Statutory Requirements (10 questions on exam) Complete Verified Accurate Answers Guaranteed For Pass.
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Course
33401
Institution
33401
All advertisements related to real estate must include... - correct answer 1. brokers name
2. phone number/street address
3. statement that they're a real estate broker
If i'm representing a seller via a service provision agreement (thing that outlines what...
All advertisements related to real estate must include... - correct answer 1. brokers
name
2. phone number/street address
3. statement that they're a real estate broker
If i'm representing a seller via a service provision agreement (thing that outlines what I'll do), then can I
advertise that its for sale by owner? - correct answer no, i can't advertise its for sale
by owner if i'm really the one listing it.
Max is advertising his own home for sale. Max is also a real estate agent. Does he need to disclose in the
advertisement that hes an agent? - correct answer Yes.
Larry and his team at Real Estate one are creating some advertisements. What must the team include on
these advertisements? - correct answer 1. brokers phone number
2. and the team name in a large font
Can a brokerage pay a commission to someone who recently got rid of their real estate license? - correct
answer Yes, if someone earned a commission while at a brokerage and then ended
up quitting, the brokerage should still pay the person.
Sarah just bought a house that Max was listing. After selling her the home, Sarah brings up that she has
a friend that is also looking for home. Can Max give Sarah some money for reffering her friend to him? -
correct answer No, because she is unlicensed, so I can't give her a referal fee.
Max owns a large apartment complex in downtown Miami. One of his tenants, Gaby, has a friend who
wants to lease a new property. Because she referred her friend to Max, he wants to give her some
compensation. Can he do so legally? - correct answer Yes, as long as Max OWNS the
building, I can offer compensation to her.
, True or false, as a real estate licensee, you can legally charge for providing real estate related services. -
correct answer True, you can charge.
If Max recieves a commission for selling a house, can he also receive a referral fee? - correct answer
Yes, as long as that referral fee is IN WRITING.
Before giving a client the service provision agreement, I need to... - correct answer
Have it fully completed before I give my client the paperwork.
True or false, when dealing with a service provision agreement, I can create an automatic renewal clause
to ensure the buyer does not have to resign it again. - correct answer False,
automatic renewal clauses are prohibited.
Service provision agreements need to have a.... - correct answer specific end date;
can't automatically renew.
Max is selling a beautiful home in downtown Los Angeles for $3.3 million. He lists ads all over town that
include... - correct answer His brokers name, his brokers number, and also the
statement that hes a broker.
Max is given a check after he sold a house that he is supposed to give to his broker. How long does Max
have to give that check to his broker? - correct answer it doesn't really matter
when, as there is no specific time limit.
Max eventually gives the check to his broker after he sell's the sellers house. How long does the broker
have until they have to deposit that check? - correct answer The brokers have two
days to deposit that check.
True or false, brokers are allowed to have more than one trust account? - correct answer
true, they can.
If there's a dispute over the funds that a broker has, such as a seller saying that by accidentally wrote
the check for too much, what will happen to these funds? - correct answer they will
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