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Aceable agent Law of Agency Exam Questions and Answers 100% Pass
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Aceable agent Law of Agency Exam Questions and Answers 100% Pass Agent Clark is working with seller Jean to sell her property. Agent Clark used to go to college with Buyer agent Sally. Clark and Sally meet up for lunch one day, and Clark tells Sally his seller is willing to accept less than the...

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  • December 27, 2024
  • 15
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • aceable agent law of agency exam questions and ans

Written for

  • Aceable agent real estate
  • Aceable agent real estate

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KatelynWhitman

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Aceable agent Law of Agency Exam
Questions and Answers 100% Pass

Agent Clark is working with seller Jean to sell her property. Agent Clark used to go to

college with Buyer agent Sally. Clark and Sally meet up for lunch one day, and Clark

tells Sally his seller is willing to accept less than the listed price. What is TRUE of this

situation? - ✔✔Clark has violated his duty of loyalty and confidentiality to his client.


All of the following are TRUE about the Information About Broker Services (IABS) form

EXCEPT: - ✔✔It needs to be given for transactions for a lease not more than one year or

when a party is represented by another license holder.


Shelly is a license holder. She shows a listing to Emma, who is interested in buying a

home. The listing is owned by Francine, a broker. Shelly is not affiliated with Francine,

and she does not represent Emma. Shelly is Francine's: - ✔✔subagent


Which of the following MUST an agent disclose to a potential buyer of a house? -

✔✔the murder of a middle-aged woman which occurred on the property


All of the following are true about open listings EXCEPT: - ✔✔The seller must inform

the listing brokers when the property goes under contract.




Katelyn Whitman© 2025, All Rights Reserved.

, 2|Page


A key difference between an agent working as an employee and one working as an

independent contractor is: - ✔✔the level of control the broker has over the agent's

actions


Donald, a sales agent, tells a potential buyer that if they purchase the house within the

next week, his broker will throw in a 10% discount. Donald knows that it's very

doubtful that his broker would do this. Did Donald commit a license violation? -

✔✔Yes, Donald made a false promise likely to influence a person to enter into an

agreement, which is a license violation.


A real estate brokerage advertises that they will list property for a low commission.

Later, the seller finds out that he advertised low commission is contingent upon the

seller signing a 12-month listing and agreeing to do all of the showings themselves. Is

the brokerage guilty of a violation? - ✔✔Yes, they are guilty of misrepresentation.


All of the following are true of the relationship between buyer and agent EXCEPT: -

✔✔An agency relationship between buyer and agent is always intentional.


Broker Stefan knows that the roof of a house is a damaged, but does not disclose this to

the buyer. What act has Stefan engaged in? - ✔✔fraud


Sales Agent Aurora has a client selling his home. The potential buyer is not working

with a broker. Aurora is helping the buyer obtain financing. Is this ethical? Why or why

not? - ✔✔Yes, because the seller getting financing furthers her client's best interests.




Katelyn Whitman© 2025, All Rights Reserved.

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