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Real Estate Express Chapter 4 Quiz Questions and Answers 2024
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Real Estate Express Chapter 4 Quiz
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Real Estate Express Chapter 4 QuizThe mere payment or promise to pay compensation to a licensee does not determine
whether an agency or transactional brokerage relationship exist. An agency relationship
is created - answerwhen the seller asks to be represented and the broker agrees.
Laws governing agency laws are called what? - answerLaw of Agency
Which agent usually has the power of attorney? - answerA universal agent
All are residential property as defined by Florida law EXCEPT - answera five unit
apartment house.
All are true about Florida real estate disclosure laws EXCEPT which of these
statements? - answerDisclosure paperwork must be kept by a broker for three years.
The person who is empowered to act on behalf of another is called - answeran agent.
A subagency relationship would mostly likely occur in which of these situations? -
answerA salesperson is working for a broker who is a single agent of the seller or buyer.
A listing sales associate who shows a property to a ready, willing, and able buyer has
certain obligations to the buyer. Which is NOT true? - answerThe sales associate MUST
disclose to the buyer that he is a Transaction Broker.
A sales associate is working with a buyer in a fiduciary capacity. With regard to
disclosure, which form must be given by the broker to the buyer to clarify the role of the
buyer and the licensee? - answerThe Single Agent notice
Which agency is NOT allowed under Florida law? - answerDual agency
A broker represents a seller as a single agent on the sale of his property. A buyer
comes to the house and wants the broker to sell her the house and represent her in the
transaction. The broker agrees without any further notice to the seller. This is a case of -
answerundisclosed dual agency and is illegal in Florida.
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