Real Estate Pearson Vue Exam Prep
Questions & Answers (Grade A+)
Special Agent -
correct answer ✅is an agent that is given the authority to perform
a single task. (I/E: Agent working with a homebuyer looking for a
single home.)
General Agent -
correct answer ✅An agent given authority to perform multiple
tasks, working with a buyer for a specific period of time. (I/E:
Helping business owner purchase multiple properties.)
Riparian Rights -
correct answer ✅These rights include access to and use of the
water.
Universal Agent -
correct answer ✅A person empowered to do anything the
principal could do personally.
Exclusive Right to Sell Listing -
correct answer ✅Under this listing arrangement, the broker
employed is entitled to a commission no matter who sells the
property during the listing period. (Even the Seller)
, Real Estate Pearson Vue Exam Prep
Questions & Answers (Grade A+)
Exclusive Agency Listing -
correct answer ✅The owner employs only one broker but retains
the right to personally sell the property, and thereby not pay a
commission. However, if any other real estate company sells the
property, the listing broker is still entitled to the commission
stipulated.
Open Listing -
correct answer ✅An agreement between an owner and many
brokers. If a broker produces a ready willing, and able buyer, a
commission is due. However, the owner still has the right to sell
his/her property and is not obligated to pay a commission to
anyone.
Real Property -
correct answer ✅Property that would cause damage to remove
(light fixtures, doors, etc.)
Personal Property -
correct answer ✅Items that don't cause damage to be removed.
I/E: Vehicles, furniture, dishes, etc.)
Questions & Answers (Grade A+)
Special Agent -
correct answer ✅is an agent that is given the authority to perform
a single task. (I/E: Agent working with a homebuyer looking for a
single home.)
General Agent -
correct answer ✅An agent given authority to perform multiple
tasks, working with a buyer for a specific period of time. (I/E:
Helping business owner purchase multiple properties.)
Riparian Rights -
correct answer ✅These rights include access to and use of the
water.
Universal Agent -
correct answer ✅A person empowered to do anything the
principal could do personally.
Exclusive Right to Sell Listing -
correct answer ✅Under this listing arrangement, the broker
employed is entitled to a commission no matter who sells the
property during the listing period. (Even the Seller)
, Real Estate Pearson Vue Exam Prep
Questions & Answers (Grade A+)
Exclusive Agency Listing -
correct answer ✅The owner employs only one broker but retains
the right to personally sell the property, and thereby not pay a
commission. However, if any other real estate company sells the
property, the listing broker is still entitled to the commission
stipulated.
Open Listing -
correct answer ✅An agreement between an owner and many
brokers. If a broker produces a ready willing, and able buyer, a
commission is due. However, the owner still has the right to sell
his/her property and is not obligated to pay a commission to
anyone.
Real Property -
correct answer ✅Property that would cause damage to remove
(light fixtures, doors, etc.)
Personal Property -
correct answer ✅Items that don't cause damage to be removed.
I/E: Vehicles, furniture, dishes, etc.)
