South Dakota Real Estate EXAM
NEWEST EXAM COMPLETE
QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+
Agency - CORRECT ANSWER-Any relationship by which one person acts for,
or on behalf of, a client
Agency Agreement - CORRECT ANSWER-A written agreement between a
broker and a client that creates a fiduciary relationship
OLDCAR - CORRECT ANSWER-Obedience
Loyalty
Disclosure
Confidentiality
Accounting
Reasonable Care
, Broker or Real Estate Broker is someone who does the following for
compensation: - CORRECT ANSWER-Lists, sells, exchanges, buys, rents,
manages, offers or negotiates a sale, option, exchange, purchase, lease or rental of
real property, a business, subdivided land, or acts of behalf of buyers and sellers,
negotiates a loan, appraises, auctions
Client - CORRECT ANSWER-Any person, including seller, landlord, buyer, or
tenant, who has entered into an Agency relationship with a real estate licensee
Customer - CORRECT ANSWER-any party to a real estate transaction who does
not have an agency relationship with a licensee
limited agent - CORRECT ANSWER-any licensee who has a written agency
relationship with both the buyer and the seller in the same in-company transaction
Broker Associate - CORRECT ANSWER-Any broker acting in association with or
under the auspices of a responsible broker
Responsible Broker - CORRECT ANSWER-Any person holding a broker's license
issued pursuant to this chapter who is responsible for the real estate activities
conducted by those licensees acting in association with or under the auspices of the
responsible broker.
Transaction Broker - CORRECT ANSWER-A real estate licensee who assists a
customer with a real estate transaction, without being an agent or advocate for
their interests
© 2026 Copyright. All Rights Reserved. This document is
protected by copyright law
NEWEST EXAM COMPLETE
QUESTIONS AND CORRECT
DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+
Agency - CORRECT ANSWER-Any relationship by which one person acts for,
or on behalf of, a client
Agency Agreement - CORRECT ANSWER-A written agreement between a
broker and a client that creates a fiduciary relationship
OLDCAR - CORRECT ANSWER-Obedience
Loyalty
Disclosure
Confidentiality
Accounting
Reasonable Care
, Broker or Real Estate Broker is someone who does the following for
compensation: - CORRECT ANSWER-Lists, sells, exchanges, buys, rents,
manages, offers or negotiates a sale, option, exchange, purchase, lease or rental of
real property, a business, subdivided land, or acts of behalf of buyers and sellers,
negotiates a loan, appraises, auctions
Client - CORRECT ANSWER-Any person, including seller, landlord, buyer, or
tenant, who has entered into an Agency relationship with a real estate licensee
Customer - CORRECT ANSWER-any party to a real estate transaction who does
not have an agency relationship with a licensee
limited agent - CORRECT ANSWER-any licensee who has a written agency
relationship with both the buyer and the seller in the same in-company transaction
Broker Associate - CORRECT ANSWER-Any broker acting in association with or
under the auspices of a responsible broker
Responsible Broker - CORRECT ANSWER-Any person holding a broker's license
issued pursuant to this chapter who is responsible for the real estate activities
conducted by those licensees acting in association with or under the auspices of the
responsible broker.
Transaction Broker - CORRECT ANSWER-A real estate licensee who assists a
customer with a real estate transaction, without being an agent or advocate for
their interests
© 2026 Copyright. All Rights Reserved. This document is
protected by copyright law
