QUESTIONS AND ANSWERS GRADED A+
Ohio licensee Clark is meeting with prospective buyer client Duncan. Before they
start talking specifics, which of the following items must Clark provide to Duncan?
A. A buyer representation agreement
B. A copy of his license card
C. His brokerage's fair housing policy manual
D. The Consumer Guide to Agency Relationships
Licensees must provide the Consumer Guide to Agency Relationships to
consumers at their first substantive contact with them.
If the Ohio Real Estate Commission decides to reverse the superintendent's
dismissal of a complaint, what happens next?
A formal hearing is scheduled.
A new investigator is assigned.
Parties go to informal mediation.
The parties negotiate a settlement agreement.
A.
,Jeanine has an exclusive right to sell agreement with her listing agent, Tera, an
Ohio real estate salesperson. Which of these statements about Tera's compensation
is true?
A protection clause in any listing agreement guarantees that Tera will be
compensated if she or another listing agent sells the property.
A protection clause in the exclusive right to sell agreement guarantees that Tera
will be compensated no matter who sells the property.
The exclusive agency agreement guarantees procuring cause, which means that the
broker will be paid no matter who brings the buyer to the transaction.
The exclusive right to sell agreement guarantees procuring cause, which means
that the broker will be paid no matter who brings the buyer to the transaction.
D Because the exclusive right to sell agreement guarantees that the client will
compensate the brokerage firm no matter who finds the buyer (or the property), it's
said to guarantee procuring cause.
After the OCRC makes its final determination, either party involved in the
discrimination charge may proceed with the reconsideration process. What's this
process for?
Reconsideration is the informal resolution method in which a neutral third party—
the mediator—helps disputing parties resolve their conflict.
Reconsideration is the internal appeals process for parties who disagree with the
commission's final determination.
, Reconsideration is the internal process for filing a cease-and-desist order,
immediately halting the respondent's discriminatory practices.
Reconsideration is the process in which parties to a dispute, with the assistance of a
dispute resolution partner, develop options and consider alternatives that aim to
reach a resolution.
B If either party involved in a discrimination charge disagrees with the OCRC's
final determination, that party can proceed with the internal appeals process of
reconsideration.
Byron placed his Ohio salesperson license on deposit when he joined the Air
Force. Following discharge from the military, when does Byron need to renew his
license, if he so chooses?
His first birthday following discharge.
His third birthday following discharge.
If his service was for four or more years, he can't renew his license and must
instead go through the new license process.
Six months from the date he was discharged
A Licensees entering or actively serving in the armed forces, and their spouses, can
place their license on deposit with the commission. The licensee's renewal date will
be postponed until their first birthday after discharge.
If an Ohio partnership submits a broker's license application, what must it include?
A conflict of interest report