45 hour post license real estate course (100% Verified
Solutions) ( 2024/2025) Exam
agency correct answers The relationship of agents and their principals
buyer brokerage agreement correct answers An agreement between a buyer and a broker for the
broker to provide services to a buyer for compensation. The broker may be acting as a single
agent, transaction broker, or a nonrepesentative.
Community association correct answers can be Condominiums, Cooperatives, Vacation and
time-sharing, mobil home park lots, which owners belong and are responsible for; i.e.
assessments, documents, dues, ect.
concurrency correct answers A state law requiring that infrastructure such as roads, sewers,
schools, etc., be in place as development occurs
consent to Transition to Transaction Broker Notice correct answers A disclousre form that allows
a single agent to become a transaction broker. The notice must be signed by the principal before
the broker can make the change
Customer correct answers A person who works with a sales associate or a broker. While the
person could be a principal, the usual definition is that the broker is either a transaction broker or
has no brokerage relationsip with the person.
Designated sales associate correct answers A sales associate who is appointed by a broker to be a
single agent for a buyer or seller in a nonresidential transaction when another sales associate in
the firm has been appointed to be the single agent for the other party in the transaction. Both
buyer and seller must have assets of at least $1 million and agree to the arrangement.
Disclosure correct answers The revelation of information important to a transaction
Dual agency correct answers An illegal arrangement whereby the broker tries to represent both
the buyer and the seller in the same transaction
False or misleading statements correct answers In real estate, a statement made by a licensee or
party in a real estate transaction that is not factual.
Fiduciary relationship correct answers A relationship of trust and confidence between an agent
and principal
Infrastructure correct answers In developements: roads, water, sewer, electricity are in place
prior to homes being built.
, Innocent purchaser status correct answers An amendemnt to the Comprehensive Enviromental
Response, Compensation, and Liability Act (CERCLA) that exempts from liability landowners
who made resonable inquiries about hazardous substances before purchasing the property.
Material fact correct answers An important fact that may affect a buyer's decision to buy or a
seller's decision to sell. Licensees must disclose facts that materially affect the value of
residential property.
Misrepresentation correct answers A false or misleading statement made intentionally or
unintentionally, or the failure to disclose a material fact.
No Brokerage Relationship Notice correct answers A disclosure that must be given by a licensee
who does not represent a buyer or seller before entering into an agreement or showing a property
Principal correct answers The person who enters into a fiduciary relationship with a single-agent
licensee.
Property condition discloure correct answers A form designed for disclosure to a buyer of any
property defects. The form is normally signed by the seller, and the buyer signs a receipt that the
buyer has received the disclosure.
Radon gas correct answers A colorless, odorless gas occurring from the natural breakdown of
uranium in the soil. Many experts believe radon gas to be the second leading cause of lung
cancer.
Single Agent correct answers A broker who represents either the seller or the buyer in a real
estate transaction, but not both.
Single Agent Notice correct answers A disclosure form informing the principal of the duties of
his single agent.
Transaction broker correct answers A licensee who has limited representation to the buyer and/or
the seller in a transaction. Instead of being an advocate for the buyer or the seller, the licensee is
working for the contract.
Real estate license expires on the first of two dates after 18 months have elapsed following issue:
correct answers March 31 or September 30
Sales assoicate must successfully complete what course before the first renewal date correct
answers 45- hour sales associate post-licensing course
If the licensee does not succerssfully complete the post-license requirements correct answers the
license becomes void
and if wants to practice real estate must take prelicensing course and state exam.
After 1st renewal license will expire when correct answers same date every 2 years
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