ASREB NATIONAL TEST B-2
QUESTIONS AND VERIFIED ANSWERS;
100% CORRECT; GRADE A
A broker - principal relationship is best described as:
Contractual
Fiduciary
Employer - employee
Agent - Subagent - correct answer- Fiduciary
A broker acting as a property manager for an owner
would consider his relationship to be:
Trustee
Receiver
Fiduciary
Attorney-in-fact - correct answer- Fiduciary
A broker and an unlicensed buyer are looking at the same
house. What must the broker disclose?
,He cannot purchase the property in competition with an
unlicensed person
He can only purchase if the unlicensed buyer gives him a
first refusal
He can buy the property if he discloses he has a license
He does not have the same right to buy as the unlicensed
person - correct answer- He can buy the
property if he discloses he has a license
A broker has a listing and the seller doesn't want the
broker to disclose to the buyers that the seller is going
through a divorce. What should the broker do?
Refuse the listing
Tell the buyer if asked
Disclose the information to the buyer
Keep the information confidential - correct
answer- Keep the information confidential
A broker is hired by a seller to sell the clients real
property. The broker must obey which of the following?
The concept of buyer beware
,All lawful instructions of the client
All of the buyer's instructions
Full disclosure to the buyer of any and all information -
correct answer- All lawful instructions of the
client
A broker lists a property for sale, but the broker has never
advertised, shown the property, or communicated to the
seller in any way. The seller has a right to conclude that
the broker:
Has a busy schedule
Assigned the listing to another broker
Found the property overpriced
Has breached fiduciary and abandoned the listing -
correct answer- Has breached fiduciary and
abandoned the listing
A broker lists a property with provisions of subagency.
Another broker accepts the term of the listing broker's
offer to cooperate. The co-operating broker is acting as:
Agent to the buyer
, Agent to the seller
Subagent to the seller
Not an agent of either party - correct answer-
Subagent to the seller
A broker relationship to a seller would most likely be:
General
Special
Implied
Ostensible - correct answer- Special
A broker's duty to a third party would be
Fiduciary
Honesty
Constructive
Actual - correct answer- Honesty
A buyer asks the real estate agent if the property is
located in a good area. The agent is aware that the
QUESTIONS AND VERIFIED ANSWERS;
100% CORRECT; GRADE A
A broker - principal relationship is best described as:
Contractual
Fiduciary
Employer - employee
Agent - Subagent - correct answer- Fiduciary
A broker acting as a property manager for an owner
would consider his relationship to be:
Trustee
Receiver
Fiduciary
Attorney-in-fact - correct answer- Fiduciary
A broker and an unlicensed buyer are looking at the same
house. What must the broker disclose?
,He cannot purchase the property in competition with an
unlicensed person
He can only purchase if the unlicensed buyer gives him a
first refusal
He can buy the property if he discloses he has a license
He does not have the same right to buy as the unlicensed
person - correct answer- He can buy the
property if he discloses he has a license
A broker has a listing and the seller doesn't want the
broker to disclose to the buyers that the seller is going
through a divorce. What should the broker do?
Refuse the listing
Tell the buyer if asked
Disclose the information to the buyer
Keep the information confidential - correct
answer- Keep the information confidential
A broker is hired by a seller to sell the clients real
property. The broker must obey which of the following?
The concept of buyer beware
,All lawful instructions of the client
All of the buyer's instructions
Full disclosure to the buyer of any and all information -
correct answer- All lawful instructions of the
client
A broker lists a property for sale, but the broker has never
advertised, shown the property, or communicated to the
seller in any way. The seller has a right to conclude that
the broker:
Has a busy schedule
Assigned the listing to another broker
Found the property overpriced
Has breached fiduciary and abandoned the listing -
correct answer- Has breached fiduciary and
abandoned the listing
A broker lists a property with provisions of subagency.
Another broker accepts the term of the listing broker's
offer to cooperate. The co-operating broker is acting as:
Agent to the buyer
, Agent to the seller
Subagent to the seller
Not an agent of either party - correct answer-
Subagent to the seller
A broker relationship to a seller would most likely be:
General
Special
Implied
Ostensible - correct answer- Special
A broker's duty to a third party would be
Fiduciary
Honesty
Constructive
Actual - correct answer- Honesty
A buyer asks the real estate agent if the property is
located in a good area. The agent is aware that the
