Real Estate Principles Final Exam Questions
With Accurate Solutions 2025\2026 A+ Grade
Agent
- accurate answer-the party authorized to conduct business on the principal's
behalf
Agency
- accurate answer-a legal relationship between a principal and an agent
Blockbusting
- accurate answer-the illegal practice of encouraging property owners to sell
their homes when minorities begin moving into an area
Broker
- accurate answer-an intermediary who brings together buyers and sellers,
assists in negotiating agreements between them, executes their orders, and
receives compensation for services rendered
Buyer Representation Agreement
- accurate answer-the legal agreement between a buyer and a broker hired to
represent the buyer's interest
Buyer's Agent
- accurate answer-a broker who is legally obligated to represent a buyer's
interest
Commission Agreement
- accurate answer-an agreement between a seller and broker for the payment
of a commission if the broker is successful in locating a buyer for the seller's
property
Dual Agent
- accurate answer-an agent who attempts to work in the best interest of two
parties on opposing sides of a transaction
,Exclusive-Brokerage Listing
- accurate answer-an agreement between a property owner and a single
broker authorizing that broker to seek a buyer for the property in exchange
for compensation
Fair Housing Laws
- accurate answer-laws that protect the rights of certain citizens in housing
transactions
Fiduciary
- accurate answer-a person who is obligated to act in the best interest of
another
Fraud
- accurate answer-a false statement made with the intention to mislead, that is
material to a transaction, that is justifiably relied on by a client, and that
results in injury to the client
Limited-service listing
- accurate answer-an agreement between a property owner/seller that
authorizes a broker to perform certain tasks to seek a buyer for the property
Listing Agreement
- accurate answer-the legal agreement between a broker and a property
owner that authorizes the broker to attempt to sell the property
LISTING BROKER
- accurate answer-the broker who negotiates the listing agreement with the
seller
MISREPRESENTATION
- accurate answer-a false statement that is material to a transaction, that is
justifiably relied upon by a client, and that results in injury to the client
MULTIPLE LISTING SERVICE (MLS)
- accurate answer-an arrangement in which brokers share their listings with
other brokers in exchange for a share of the commission generated by a
transaction
, NET LISTING
- accurate answer-a listing agreement in which the broker is entitled to
receive as commission any amount above a base price
OPEN LISTING
- accurate answer-a listing agreement in which a broker is entitled to receive a
commission only in the event the broker procures a buyer for the property
PRINCIPAL
- accurate answer-the person who authorizes an agent to conduct business on
his or her behalf
REAL ESTATE BROKER
- accurate answer-an individual licensed by a state to represent others in real
estate transactions in exchange for compensation
SELLER'S AGENT
- accurate answer-a real estate broker who is obligated to represent the best
interest of the seller
SELLING BROKER
- accurate answer-the broker who actually locates a buyer for a property
STEERING
- accurate answer-the illegal practice of steering potential homebuyers into
certain areas to influence the racial or ethnic composition of the areas
SUBAGENT
- accurate answer-an agent of an agent of a principal
TRANSACTION BROKER
- accurate answer-a broker who provides limited representation to a seller or
buyer in a real estate transaction
ABSORPTION RATE
- accurate answer-the number of units capable of being absorbed by the
market over a given time period
With Accurate Solutions 2025\2026 A+ Grade
Agent
- accurate answer-the party authorized to conduct business on the principal's
behalf
Agency
- accurate answer-a legal relationship between a principal and an agent
Blockbusting
- accurate answer-the illegal practice of encouraging property owners to sell
their homes when minorities begin moving into an area
Broker
- accurate answer-an intermediary who brings together buyers and sellers,
assists in negotiating agreements between them, executes their orders, and
receives compensation for services rendered
Buyer Representation Agreement
- accurate answer-the legal agreement between a buyer and a broker hired to
represent the buyer's interest
Buyer's Agent
- accurate answer-a broker who is legally obligated to represent a buyer's
interest
Commission Agreement
- accurate answer-an agreement between a seller and broker for the payment
of a commission if the broker is successful in locating a buyer for the seller's
property
Dual Agent
- accurate answer-an agent who attempts to work in the best interest of two
parties on opposing sides of a transaction
,Exclusive-Brokerage Listing
- accurate answer-an agreement between a property owner and a single
broker authorizing that broker to seek a buyer for the property in exchange
for compensation
Fair Housing Laws
- accurate answer-laws that protect the rights of certain citizens in housing
transactions
Fiduciary
- accurate answer-a person who is obligated to act in the best interest of
another
Fraud
- accurate answer-a false statement made with the intention to mislead, that is
material to a transaction, that is justifiably relied on by a client, and that
results in injury to the client
Limited-service listing
- accurate answer-an agreement between a property owner/seller that
authorizes a broker to perform certain tasks to seek a buyer for the property
Listing Agreement
- accurate answer-the legal agreement between a broker and a property
owner that authorizes the broker to attempt to sell the property
LISTING BROKER
- accurate answer-the broker who negotiates the listing agreement with the
seller
MISREPRESENTATION
- accurate answer-a false statement that is material to a transaction, that is
justifiably relied upon by a client, and that results in injury to the client
MULTIPLE LISTING SERVICE (MLS)
- accurate answer-an arrangement in which brokers share their listings with
other brokers in exchange for a share of the commission generated by a
transaction
, NET LISTING
- accurate answer-a listing agreement in which the broker is entitled to
receive as commission any amount above a base price
OPEN LISTING
- accurate answer-a listing agreement in which a broker is entitled to receive a
commission only in the event the broker procures a buyer for the property
PRINCIPAL
- accurate answer-the person who authorizes an agent to conduct business on
his or her behalf
REAL ESTATE BROKER
- accurate answer-an individual licensed by a state to represent others in real
estate transactions in exchange for compensation
SELLER'S AGENT
- accurate answer-a real estate broker who is obligated to represent the best
interest of the seller
SELLING BROKER
- accurate answer-the broker who actually locates a buyer for a property
STEERING
- accurate answer-the illegal practice of steering potential homebuyers into
certain areas to influence the racial or ethnic composition of the areas
SUBAGENT
- accurate answer-an agent of an agent of a principal
TRANSACTION BROKER
- accurate answer-a broker who provides limited representation to a seller or
buyer in a real estate transaction
ABSORPTION RATE
- accurate answer-the number of units capable of being absorbed by the
market over a given time period
