Fundamentals of real estate Unit 2
exam questions and answers
Industry professionals responsibilities -
correct answer ✅act honestly, provide competent service, disclose
to client how they will be paid, fulfill their obligations to their
clients, ensure their role is understood, disclose any conflict of
interest, practice in accordance the rules, act , reg, and bylaws, co-
operate with the council.
Industry professionals prohibitions -
correct answer ✅participate in fraudulent or unlawful activity, use
confidential info for personal gain, discourage a client from seeking
legal advise, discriminate, physically, sexually, emotionally, or
verbally abuse a client.
Misrepresentation -
correct answer ✅False or misleading statements made by one
party to another
Negligence -
correct answer ✅False or misleading statement made by a person
who believed it was true.
Reckless -
correct answer ✅made by a person who while they have no intent
, Fundamentals of real estate Unit 2
exam questions and answers
to mislead anyone failed to take the required steps to confirm the
statements accuracy
Intentional -
correct answer ✅Breach in the rules knowingly or without due
care provide the public wtih unsubstantiated or unverified info.
unauthorized assistance must -
correct answer ✅always identify themselves to the public and
other industry pros as unauthorized, have written consent from the
broker in order for an associate to hire them, posses and
agreement outlining the assistants job description and
remuneration formula, provide a copy of the job description to the
brokerage.
Unauthorized assustance may not -
correct answer ✅Place promo material or ads without the review
and approval of a brokerage, show properties, preview home or
listings unless accompanied by a brokerage excluding open houses,
answer any questions from the public concerning listings, titles,
financing, and closing costs,
discuss or explain a contract listing property evaluation, lease
agreement, or other real estate docs with the public
exam questions and answers
Industry professionals responsibilities -
correct answer ✅act honestly, provide competent service, disclose
to client how they will be paid, fulfill their obligations to their
clients, ensure their role is understood, disclose any conflict of
interest, practice in accordance the rules, act , reg, and bylaws, co-
operate with the council.
Industry professionals prohibitions -
correct answer ✅participate in fraudulent or unlawful activity, use
confidential info for personal gain, discourage a client from seeking
legal advise, discriminate, physically, sexually, emotionally, or
verbally abuse a client.
Misrepresentation -
correct answer ✅False or misleading statements made by one
party to another
Negligence -
correct answer ✅False or misleading statement made by a person
who believed it was true.
Reckless -
correct answer ✅made by a person who while they have no intent
, Fundamentals of real estate Unit 2
exam questions and answers
to mislead anyone failed to take the required steps to confirm the
statements accuracy
Intentional -
correct answer ✅Breach in the rules knowingly or without due
care provide the public wtih unsubstantiated or unverified info.
unauthorized assistance must -
correct answer ✅always identify themselves to the public and
other industry pros as unauthorized, have written consent from the
broker in order for an associate to hire them, posses and
agreement outlining the assistants job description and
remuneration formula, provide a copy of the job description to the
brokerage.
Unauthorized assustance may not -
correct answer ✅Place promo material or ads without the review
and approval of a brokerage, show properties, preview home or
listings unless accompanied by a brokerage excluding open houses,
answer any questions from the public concerning listings, titles,
financing, and closing costs,
discuss or explain a contract listing property evaluation, lease
agreement, or other real estate docs with the public
