Barney Fletcher Cram Final Exam Questions with 100% verified answers| Updated

Barney Fletcher Cram Final Exam Questions with 100% verified answers| Updated 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 B. an exclusive right to sell listing Mr. Smith listed his farm with broker Bob. Although Smith did not tell him, 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 C. do not tell them even though it appears that Smith's death is imminent In a cooperative sale, where the listing 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. agent of the listing broker A broker had an exclusive right to sell 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 B. prove he was licensed at the time of the sale A broker estimated the property lines by stating it ran between two trees in 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 C. yes, he made a statement which he realized could be false Smith has an exclusive listing with 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 B. yes, because this is undisclosed dual agency A buyer and seller sign an agreement to change the contract to close on May 1 instead of May 2. This is a(n):