Barney Fletcher Cram Final Exam 2026 – Questions
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Terms in this set (97)
A seller wants to list the property with B. an exclusive right to sell listing
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
Mr. Smith listed his farm with broker C. do not tell them even though it appears that
Bob. Although Smith did not tell him, Smith's death is imminent
Bob knew he had to sell due to poor
health. What should Bob tell potential
buyers?
A. tell them of the illness only if they
ask, but not the need to sell
B. tell them of the need to sell to
insure a quick sale
C. do not tell them even though it
appears that Smith's death is imminent
D. in order to sell quickly, tell them
that the seller is ill because death
would cancel the listing
,In a cooperative sale, where the listing A. agent of the listing broker
broker and the selling broker
represent the seller, the selling broker
has which of the following
relationships?
A. agent of the listing broker
B. sub agent of the listing broker
C. agent of the seller
D. sub agent of the buyer
A broker had an exclusive right to sell B. prove he was licensed at the time of the sale
agency listing. In order to collect the
commission, he must:
A. prove he was the procuring agent
B. prove he was licensed at the time of
the sale
C. prove he had a ready, willing, and
able buyer that met the seller's terms
D. all of the above
A broker estimated the property lines C. yes, he made a statement which he realized could
by stating it ran between two trees in be false
the back yard. After closing, the buyer
found it was over six feet off. Is the
broker liable?
A. no, he gave an estimate
B. no, the buyer should have gotten a
survey
C. yes, he made a statement which he
realized could be false
D. yes, the broker should have
surveyed the property himself
,Smith has an exclusive listing with B. yes, because this is undisclosed dual agency
broker Jones for $220,000. Jones finds
a buyer who wants representation and
Jones represents both Smith and the
buyer, verbally disclosing that he is
now representing both as clients. Has
Jones violated license law?
A. yes, because this is sub agency
B. yes, because this is undisclosed
dual agency
C. no, because he disclosed to all
parties that neither had to consent to
dual agency
D. no, because he disclosed to all
parties that his actions may be
adverse to either party, however he
would not divulge confidential
information
A buyer and seller sign an agreement C. amendment
to change the contract to close on
May 1 instead of May 2. This is a(n):
A. addendum
B. special stipulation
C. amendment
D. clause
When a person, upon payment of a C. a sales contract
consideration, has an obligation to
buy land at a fixed price within a
specified period of time, his right
could be described as:
A. a right of first refusal
B. an option
C. a sales contract
D. either A or B
, Joan has a listing with broker Bob. A D. it cannot be assigned because a listing contract is
week into the listing, Joan gets a call a personal services contract
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
What type of transaction exists when B. transaction brokerage
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
B. transaction brokerage
C. sub agency
D. single agency
When is the correct time for the C. when filling out the listing
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
With Complete Solutions
Save Groups
Terms in this set (97)
A seller wants to list the property with B. an exclusive right to sell listing
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
Mr. Smith listed his farm with broker C. do not tell them even though it appears that
Bob. Although Smith did not tell him, Smith's death is imminent
Bob knew he had to sell due to poor
health. What should Bob tell potential
buyers?
A. tell them of the illness only if they
ask, but not the need to sell
B. tell them of the need to sell to
insure a quick sale
C. do not tell them even though it
appears that Smith's death is imminent
D. in order to sell quickly, tell them
that the seller is ill because death
would cancel the listing
,In a cooperative sale, where the listing A. agent of the listing broker
broker and the selling broker
represent the seller, the selling broker
has which of the following
relationships?
A. agent of the listing broker
B. sub agent of the listing broker
C. agent of the seller
D. sub agent of the buyer
A broker had an exclusive right to sell B. prove he was licensed at the time of the sale
agency listing. In order to collect the
commission, he must:
A. prove he was the procuring agent
B. prove he was licensed at the time of
the sale
C. prove he had a ready, willing, and
able buyer that met the seller's terms
D. all of the above
A broker estimated the property lines C. yes, he made a statement which he realized could
by stating it ran between two trees in be false
the back yard. After closing, the buyer
found it was over six feet off. Is the
broker liable?
A. no, he gave an estimate
B. no, the buyer should have gotten a
survey
C. yes, he made a statement which he
realized could be false
D. yes, the broker should have
surveyed the property himself
,Smith has an exclusive listing with B. yes, because this is undisclosed dual agency
broker Jones for $220,000. Jones finds
a buyer who wants representation and
Jones represents both Smith and the
buyer, verbally disclosing that he is
now representing both as clients. Has
Jones violated license law?
A. yes, because this is sub agency
B. yes, because this is undisclosed
dual agency
C. no, because he disclosed to all
parties that neither had to consent to
dual agency
D. no, because he disclosed to all
parties that his actions may be
adverse to either party, however he
would not divulge confidential
information
A buyer and seller sign an agreement C. amendment
to change the contract to close on
May 1 instead of May 2. This is a(n):
A. addendum
B. special stipulation
C. amendment
D. clause
When a person, upon payment of a C. a sales contract
consideration, has an obligation to
buy land at a fixed price within a
specified period of time, his right
could be described as:
A. a right of first refusal
B. an option
C. a sales contract
D. either A or B
, Joan has a listing with broker Bob. A D. it cannot be assigned because a listing contract is
week into the listing, Joan gets a call a personal services contract
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
What type of transaction exists when B. transaction brokerage
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
B. transaction brokerage
C. sub agency
D. single agency
When is the correct time for the C. when filling out the listing
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
