MLS TESTS COMPILATION BUNDLE 2026
COMPLETE QUESTION SET AND VERIFIED
SOLUTIONS PREMIUM COLLECTION
GRADED A+
⩥ A selling broker desires to represent a purchaser in a real estate
transaction while at the same time act as a subagent of the listing broker
and seller. Could the broker perform both of these functions in the same
transaction?
Answer: No, when a broker working with a buyer acts as a subagent of
the listing broker and seller, that broker working with a buyer must
represent the seller and treat the buyer as a customer
⩥ Whether or not a real estate sales affiliate in GA may act as a buyer's
agent will be determined by:
Answer: the company policy and procedures manual issued to all sales
affiliates by the broker
⩥ Under what circumstances might a broker who is working with a
prospective buyer receive compensation/commission from a listing
broker?
Answer: Only if there is a cooperating agreement between the two
brokers.
,⩥ You are a salesperson representing the seller. What are your duties
when working with a buyer/customer?
Answer: You must deal with them honestly
⩥ A brokerage engagement in GA creates an employment agreement
between:
Answer: Broker and client
⩥ Regarding the Brokerage Relationship in Real Estate Transaction ACT
(BRRETA), how are agency relationships created?
Answer: Agency relationships may be created only through written
brokerage engagements
⩥ Under a listing agreement, the primary agency relationship involves:
Answer: the seller as the principal, and the broker as the agent
⩥ A property is listed for $200,000. The sellers owe $100,000 on their
current loan and have agreed to pay $2000 towards closing costs for the
sale of the property. The sellers also agree to pay the listing broker a 6%
commission should a ready, willing and able buyer be secured to
purchase the property. If the property sells for full price, what will be the
net proceeds for the sellers?
Answer: $86,000
,⩥ According to BRRETA, a listing agent must voluntarily disclose to a
buyer customer:
Answer: known latent defects
⩥ Instructed by a client not to present any offers substantially below the
listing price, an agent decides not to inform the seller of a prospective
buyer's "low ball" written offer. Would real estate agency law find the
licensee's decision acceptable?
Answer: No, the agent must present all offers to the seller client
⩥ You have agreed with your broker to split commissions 60% to you
and 40% to your broker. Your listing was just sold by another company
for $139,000. Your broker has agreed to pay the selling broker 50% of
any commission. If the commission on this sale was 6% what was your
share of the commission?
Answer: $2502
⩥ A broker who has a brokerage relationship with both seller and buyer
or both landlord and tenant in the same transaction is considered a
Answer: dual agent
⩥ As a representative of an employing broker, a real estate salesperson
in GA must act in the best interest of a client as well as in accordance
with all applicable laws. With regard to these duties and responsibilities,
, the obligations of a real estate salesperson might best be stated as
follows:
Answer: A salesperson's highest obligation is to any applicable laws,
next to the broker, and then to the client
⩥ You are working as an agent for the broker. In this relationship the
broker dictates office hours, work schedules, withholds federal and state
taxes, and pays FICA contributions. This relationship would be
considered:
Answer: employer/employee
⩥ As an independent contractor for a brokerage firm, a licensee
Answer: must have a written employment agreement/contract with the
broker
⩥ In a real estate transaction involving a broker and a broker's
salesperson, there are 2 agency relationships established. These agency
relationships are between the
Answer: broker and principal, and broker and salesperson
⩥ If the salesperson is an agent for the broker, can the salesperson sign
brokerage engagements?
Answer: Yes, the authority to sign brokerage engagements is typically
provided to the salesperson in the broker affiliation agreement
COMPLETE QUESTION SET AND VERIFIED
SOLUTIONS PREMIUM COLLECTION
GRADED A+
⩥ A selling broker desires to represent a purchaser in a real estate
transaction while at the same time act as a subagent of the listing broker
and seller. Could the broker perform both of these functions in the same
transaction?
Answer: No, when a broker working with a buyer acts as a subagent of
the listing broker and seller, that broker working with a buyer must
represent the seller and treat the buyer as a customer
⩥ Whether or not a real estate sales affiliate in GA may act as a buyer's
agent will be determined by:
Answer: the company policy and procedures manual issued to all sales
affiliates by the broker
⩥ Under what circumstances might a broker who is working with a
prospective buyer receive compensation/commission from a listing
broker?
Answer: Only if there is a cooperating agreement between the two
brokers.
,⩥ You are a salesperson representing the seller. What are your duties
when working with a buyer/customer?
Answer: You must deal with them honestly
⩥ A brokerage engagement in GA creates an employment agreement
between:
Answer: Broker and client
⩥ Regarding the Brokerage Relationship in Real Estate Transaction ACT
(BRRETA), how are agency relationships created?
Answer: Agency relationships may be created only through written
brokerage engagements
⩥ Under a listing agreement, the primary agency relationship involves:
Answer: the seller as the principal, and the broker as the agent
⩥ A property is listed for $200,000. The sellers owe $100,000 on their
current loan and have agreed to pay $2000 towards closing costs for the
sale of the property. The sellers also agree to pay the listing broker a 6%
commission should a ready, willing and able buyer be secured to
purchase the property. If the property sells for full price, what will be the
net proceeds for the sellers?
Answer: $86,000
,⩥ According to BRRETA, a listing agent must voluntarily disclose to a
buyer customer:
Answer: known latent defects
⩥ Instructed by a client not to present any offers substantially below the
listing price, an agent decides not to inform the seller of a prospective
buyer's "low ball" written offer. Would real estate agency law find the
licensee's decision acceptable?
Answer: No, the agent must present all offers to the seller client
⩥ You have agreed with your broker to split commissions 60% to you
and 40% to your broker. Your listing was just sold by another company
for $139,000. Your broker has agreed to pay the selling broker 50% of
any commission. If the commission on this sale was 6% what was your
share of the commission?
Answer: $2502
⩥ A broker who has a brokerage relationship with both seller and buyer
or both landlord and tenant in the same transaction is considered a
Answer: dual agent
⩥ As a representative of an employing broker, a real estate salesperson
in GA must act in the best interest of a client as well as in accordance
with all applicable laws. With regard to these duties and responsibilities,
, the obligations of a real estate salesperson might best be stated as
follows:
Answer: A salesperson's highest obligation is to any applicable laws,
next to the broker, and then to the client
⩥ You are working as an agent for the broker. In this relationship the
broker dictates office hours, work schedules, withholds federal and state
taxes, and pays FICA contributions. This relationship would be
considered:
Answer: employer/employee
⩥ As an independent contractor for a brokerage firm, a licensee
Answer: must have a written employment agreement/contract with the
broker
⩥ In a real estate transaction involving a broker and a broker's
salesperson, there are 2 agency relationships established. These agency
relationships are between the
Answer: broker and principal, and broker and salesperson
⩥ If the salesperson is an agent for the broker, can the salesperson sign
brokerage engagements?
Answer: Yes, the authority to sign brokerage engagements is typically
provided to the salesperson in the broker affiliation agreement
