100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
Previously searched by you
301 NC POST LICENSING EXAM, PRACTICE EXAM AND STUDY GUIDE NEWEST 2024 ACTUAL EXAM 300 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |COMPLETE A+ GUIDE£13.87
Add to cart
301 NC POST LICENSING EXAM, PRACTICE EXAM AND STUDY GUIDE NEWEST 2024 ACTUAL EXAM 300 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |COMPLETE A+ GUIDE
0 view 0 purchase
Module
301 NC POST LICENSING
Institution
301 NC POST LICENSING
301 NC POST LICENSING EXAM, PRACTICE EXAM AND STUDY GUIDE NEWEST 2024 ACTUAL EXAM 300 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) |COMPLETE A+ GUIDE
An agent's duties to third parties include all the following EXCEPT
f f f f f f f f f f
A) fairness.
B) obedience.
C) disclosure of material fact. f f f
D) honesty. - answer-B) obedience. f f f
Derrin hires Austin with Best Homes Realty to list his home for sale. As
f f f f f f f f f f f f f
Austin is completing the listing agreement, Derrin mentions that the
f f f f f f f f f f
hot water heater has not worked for a couple of weeks and is not
f f f f f f f f f f f f f f
planning on repairing it since he is selling the home. Derrin tells Austin
f f f f f f f f f f f f f
that he cannot share that information with anyone as it might affect the
f f f f f f f f f f f f f
,sale of the home. What is the BEST course of action for Austin at this
f f f f f f f f f f f f f f f
time?
f
A) If Austin shares the information regarding the hot water heater, he
f f f f f f f f f f
will be in violation of his fiduciaryduties, and Derrin can sue him for
f f f f f f f f f f f f f f
disclosing confidential information.
f f f
B) Austin can share the information with people at Best Homes Realty
f f f f f f f f f f
but cannot share it with any firmrepresenting a buyer.
f f f f f f f f f f
C) Austin must disclose that the hot water heater is not working because
f f f f f f f f f f f
f it is a material fact.
f f f f
D) Austin must obey the seller. Austin and Best Homes Realty owe f f f f f f f f f f
fiduciary duties to their client - answer-C) Austin must disclose that
f f f f f f f f f f f
the hot water heater is not working because it is a material fact.
f f f f f f f f f f f f f
Armin, a broker affiliated with Best Homes Realty, listed a property for
f f f f f f f f f f f
sale and conducted an open house. Courtney visited the open house
f f f f f f f f f f f
and decided to make an offer. The seller had completed the Residential
f f f f f f f f f f f f
Property and Owners' Association Disclosure Statement (RPOADS)
f f f f f f f
indicating all defects theseller knows that exist about the property. In
f f f f f f f f f f f f
this situation, which of the following statements is TRUE?
f f f f f f f f f
A) Courtney needs to be advised to still conduct a full home inspection.
f f f f f f f f f f f
B) Since the seller disclosed all known material facts, they have
f f f f f f f f f
complied with the Doctrine of CaveatEmptor and Courtney does not
f f f f f f f f f f f
need to complete a full home inspection.
f f f f f f f
C) Since the seller disclosed all known material facts that they were
f f f f f f f f f f
aware of, Courtney does not need tocomplete a full home inspection.
f f f f f f f f f f f f
,D) Armin can assure Courtney that the seller has disclosed all f f f f f f f f f
material facts and she does not need toget her own home inspection. -
f f f f f f f f f f f f f f
answer-A) Courtney needs to be advised to still conduct a full home
f f f f f f f f f f f f
inspection.
f
A buyer and a seller are negotiating the terms of a possible contract. The
f f f f f f f f f f f f f
seller counteroffers to the buyer, and the buyer wants to think about it
f f f f f f f f f f f f f
overnight. The next day the buyer calls the selling agent and says they
f f f f f f f f f f f f f
would like to accept the seller's counteroffer. Before verifying that the
f f f f f f f f f f f
buyer had actuallysigned the counteroffer, the selling agent calls the
f f f f f f f f f f f
listing agent to say the buyer had accepted the seller's counteroffer. The
f f f f f f f f f f f f
seller then goes on to purchase another house based on the buyer's
f f f f f f f f f f f f
"acceptance" of their counteroffer. When the selling agent goes to pick
f f f f f f f f f f f
up the signed paperwork from the buyer, the buyer states they never
f f f f f f f f f f f f
signed the counteroffer and do not want to buy the seller's home.
f f f f f f f f f f f f
Which of the following statements is correct?
f f f f f f f
A) The selling agent is not responsible for the misrepresentation.
f f f f f f f f
B) Both the buyer and the selling agent are responsible for the
f f f f f f f f f f
misrepresentation.
f
C) Neither the buyer - answer-A) The selling agent is responsible for thef f f f f f f f f f f
misrepresentation.
f
The real estate broker's fiduciary responsibility to keep the principal
f f f f f f f f f
informed of all facts, including property condition and issues that affect
f f f f f f f f f f f
a seller's willingness to sell and a buyer's willingness to buy, isthe duty
f f f f f f f f f f f f f f
of
f
A) reasonable skill, care, and diligence. f f f f
B) disclosure.
C) obedience.
, D) accounting. - answer-B) disclosure. f f f
The duties owed from the "agent" to the "principal" are BEST described by
f f f f f f f f f f f f
which of the following?
f f f f
A) Obedience, loyalty, accounting, and reasonable care
f f f f f
B) Fairness and honesty f f
C) Fairness, honest, obedience, loyalty, accounting, reasonable skill,
f f f f f f
and care
f f
D) Obedience, loyalty, disclosure, confidentiality, accounting,
f f f f
reasonable skill, care, and diligence -answer-D) Obedience, loyalty,
f f f f f f f f f
disclosure, confidentiality, accounting, reasonable skill, care, and
f f f f f f f
diligence
f
Which of the following BEST describes subagent?
f f f f f f
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 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 Ascorers. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £13.87. You're not tied to anything after your purchase.
