No brokerage relationship - Study guides, Class notes & Summaries

Which of the following has the authority to suspend or revoke a Texas real estate license? - Answer- TREC Which of the following is an element of a listing agreement? - Answer- the agreement to pay a stated commission, usually a percentage of the sales price the IRS considers which of the following a violation of independent contractor status? - Answer- salesperson is told to work set hours, guaranteed a monthly minimum wage, has his licensing fees paid by the broker the TAR buyer repre...

Joining a team vs. being a solo agent is an important decision for a new real estate agent. Which of the following statements is false regarding joining a team vs. being a solo agent? - Answer - A. Joining a team vs. being a solo agent is a decision that is made by the Florida Real Estate Commission, (FREC). What is the status of their license if a sales associate did not complete the required 45-hour post licensing education course before the initial renewal of their license? - Answer - B....

Which of the following is NOT a RECA educational resource for industry professionals? - Answer- Spatial Information System (Spin 2) Which entity has the authority to amend the Real Estate Act - Answer- Provincial Legislature Which of the following measures the change in a cost of a fixed basket of goods and services purchased by families over a period of time - Answer- Consumer Price Index (CPI) Which of the following will occur to the supply of a good when there is a change in quantity...

RECA Residential Exam Questions And Answers Fiduciary Representation - - Trust and confidence - Best interests - Loyalty 5 Ds of Role Clarity - 1. Discuss 2. Determine 3. Document 4. Disclose 5. Do Must disclose in writing - - the nature of services provided - whether professional has entered into representation relationship with other party - any conflicts of interest - any other facts that may influence consumers decision to proceed with relationship made to clarify and p...

Maryland Real Estate (Law) Practice Exam Questions with Certified Solutions When a salesperson whose license has not been renewed negotiates a sale of real property, who is the commission payable to? a. the broker only b. no one c. the salesperson only d. the broker and the salesperson according to prior agreement b. no one If a salesperson license is issued on January 2, 2016, when will it expire? a. January 2, 2016 b. September 2, 2016 c. April 1, 2016 d. March 31, 2016 a. ...

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. appraising correct answers The process of estimating the market value of property. principal correct answers (1) The person who enters into a fiduciary relationship with a single agent licensee. (2) The amount of money remaining due on a mortgage loa...

ASREB Practice Exam Questions with Verified Answers A 3.45-acre lot sells for 50 cents per square foot. What was the selling price? a. $37,570 b. $75,141 c. $76,230 d. $78,712 b. $75,141 A blind ad refers to an ad that a. provides no price b. provides no address c. gives no indication that the property is listed with a broker d. gives no indication that the property has been sold or not c. gives no indication that the property is listed with a broker A borrower is required t...

Alabama License Law Exam Questions with Complete Solutions In the state of Alabama, what is the difference between a customer and a client? A. a client pays the commission B. a client is a seller while a customer is a buyer C. a client has signed an agreement for specific services D. a licensee has duties to a client but not to a customer D Which of the following is NOT an allowed brokerage relationship in Alabama? A. a limited nonconsensual dual agency B. a single agency C. a sub agency...

Alabama License Law Exam Questions with Complete Solutions In the state of Alabama, what is the difference between a customer and a client? A. a client pays the commission B. a client is a seller while a customer is a buyer C. a client has signed an agreement for specific services D. a licensee has duties to a client but not to a customer D Which of the following is NOT an allowed brokerage relationship in Alabama? A. a limited nonconsensual dual agency B. a single agency C. a sub agency...

Bob Hogue - Pre Lic. Test Questions and Answers 100% Pass What is the required continuing education for a Florida real estate licensee? - 14 hours every two years - 20 hours every year - 30 hours every five years - 10 hours every year --- What is a characteristic of a fiduciary relationship? - Casual advice - Loyalty and confidentiality - Limited representation - No obligation --- 2 If a seller provides false information about a property’s condition, the real est...