BARNEY FLETCHER CRAM FINAL EXAM
QUESTIONS WITH VERIFIED SOLUTIONS
LATEST UPGRADE
Joan has a listing with broker Bob. A week into the listing, Joan gets a
call from broker Jill stating that the listing is now with her. Can this
happen?
A. it's ok as long as it was assignable in the original contract
B. it's ok as long as the brokers have a written contract between them
to transfer
C. never due to the statute of frauds
D. it cannot be assigned because a listing contract is a personal
services contract --CORRECT ANSWER--D. it cannot be assigned
because a listing contract is a personal services contract
What type of transaction exists when there is a written contract for a
broker to receive pay from both or either party and performs only
ministerial acts for one or both parties?
A. double agency
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,B. transaction brokerage
C. sub agency
D. single agency --CORRECT ANSWER--B. transaction brokerage
When is the correct time for the salesperson to get the proper legal
description of the seller's property?
A. when filling out the offer
B. when filling out the sales contract
C. when filling out the listing
D. any time before closing --CORRECT ANSWER--C. when filling
out the listing
Sue acquires an option to buy a tract of land from Pete. which of the
following is NOT true?
A. Sue is the optionee and Pete is the optionor
B. the property may be purchased at the discretion of the optionee
C. Pete may not diminish the value of the property (waste) during the
period the option is in effect
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,D. Pete may not sell the property to anyone else during the period the
option is in effect --CORRECT ANSWER--D. Pete may not sell the
property to anyone else during the period the option is in effect
The contract signed between a buyer and a broker is called?
A. listing contract
B. buyer's brokerage agreement
C. listing agreement
D. buyer's relationship --CORRECT ANSWER--B. buyer's brokerage
agreement
Typically in Georgia, the agent representing the seller is called?
A. the selling agent
B. the listing agent
C. the sub agent
D. the listing broker --CORRECT ANSWER--D. the listing broker
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, Which documents must be in writing to be enforceable according to
the statute of frauds?
A. leases over a year old
B. real estate sales contracts
C. deeds
D. all of the above --CORRECT ANSWER--D. all of the above
A seller wants to list the property with a broker, but wants to avoid
paying any commission should the seller be fortunate enough to sell
the property. himself. Which of the following should the seller avoid
signing?
A. an exclusive agency listing
B. an exclusive right to sell listing
C. an open listing
D. all listings --CORRECT ANSWER--B. an exclusive right to sell
listing
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QUESTIONS WITH VERIFIED SOLUTIONS
LATEST UPGRADE
Joan has a listing with broker Bob. A week into the listing, Joan gets a
call from broker Jill stating that the listing is now with her. Can this
happen?
A. it's ok as long as it was assignable in the original contract
B. it's ok as long as the brokers have a written contract between them
to transfer
C. never due to the statute of frauds
D. it cannot be assigned because a listing contract is a personal
services contract --CORRECT ANSWER--D. it cannot be assigned
because a listing contract is a personal services contract
What type of transaction exists when there is a written contract for a
broker to receive pay from both or either party and performs only
ministerial acts for one or both parties?
A. double agency
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,B. transaction brokerage
C. sub agency
D. single agency --CORRECT ANSWER--B. transaction brokerage
When is the correct time for the salesperson to get the proper legal
description of the seller's property?
A. when filling out the offer
B. when filling out the sales contract
C. when filling out the listing
D. any time before closing --CORRECT ANSWER--C. when filling
out the listing
Sue acquires an option to buy a tract of land from Pete. which of the
following is NOT true?
A. Sue is the optionee and Pete is the optionor
B. the property may be purchased at the discretion of the optionee
C. Pete may not diminish the value of the property (waste) during the
period the option is in effect
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,D. Pete may not sell the property to anyone else during the period the
option is in effect --CORRECT ANSWER--D. Pete may not sell the
property to anyone else during the period the option is in effect
The contract signed between a buyer and a broker is called?
A. listing contract
B. buyer's brokerage agreement
C. listing agreement
D. buyer's relationship --CORRECT ANSWER--B. buyer's brokerage
agreement
Typically in Georgia, the agent representing the seller is called?
A. the selling agent
B. the listing agent
C. the sub agent
D. the listing broker --CORRECT ANSWER--D. the listing broker
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, Which documents must be in writing to be enforceable according to
the statute of frauds?
A. leases over a year old
B. real estate sales contracts
C. deeds
D. all of the above --CORRECT ANSWER--D. all of the above
A seller wants to list the property with a broker, but wants to avoid
paying any commission should the seller be fortunate enough to sell
the property. himself. Which of the following should the seller avoid
signing?
A. an exclusive agency listing
B. an exclusive right to sell listing
C. an open listing
D. all listings --CORRECT ANSWER--B. an exclusive right to sell
listing
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