Champions School Of Real Estate State
Exam With 100% Correct Answers 2024
Property acquired by husband and wife after marriage with labor - Correct Answer-
Which of the following is considered community property?
Exclusive Right To Sell - Correct Answer-a listing that gives the broker the right to
collect a commission no matter who sells the property during the listing period.
Exclusive Agency - Correct Answer-The Seller agrees to list the property with only one
broker during the listing term;
with the provision that the Seller can sell the property himself or herself, without
payment of a commission.
Open Listing - Correct Answer-Gives the Seller the right to list the property with multiple
competing brokers and to sell the property personally without liability for payment of a
commission.
Net Listing - Correct Answer-The seller establishes a minimum acceptable net price.
Multiple Listing Services (MLS) - Correct Answer-The exclusive right to sell and
exclusive agency listing agreements usually call for the broker to place the listing into
one or more _____
Indemnification - Correct Answer-Protection against damage or loss
Agency - Correct Answer-A relationship between two parties.
Acting in a dual capacities broker and undisclosed principal in a real estate transaction -
Correct Answer-Prohibited
Commingles money that belongs to another person with the license holder's own money
- Correct Answer-Prohibited
Notifies the commission on the 15th day after the agent has entered a guilty plea to a
felony offense involving fraud - Correct Answer-Lawful
Using a contract form prepared by an attorney - Correct Answer-Lawful
Special Agency - Correct Answer-Relationship is the most limited of all the agency
relationship. Sometimes, it is even called "limited agency"
Exam With 100% Correct Answers 2024
Property acquired by husband and wife after marriage with labor - Correct Answer-
Which of the following is considered community property?
Exclusive Right To Sell - Correct Answer-a listing that gives the broker the right to
collect a commission no matter who sells the property during the listing period.
Exclusive Agency - Correct Answer-The Seller agrees to list the property with only one
broker during the listing term;
with the provision that the Seller can sell the property himself or herself, without
payment of a commission.
Open Listing - Correct Answer-Gives the Seller the right to list the property with multiple
competing brokers and to sell the property personally without liability for payment of a
commission.
Net Listing - Correct Answer-The seller establishes a minimum acceptable net price.
Multiple Listing Services (MLS) - Correct Answer-The exclusive right to sell and
exclusive agency listing agreements usually call for the broker to place the listing into
one or more _____
Indemnification - Correct Answer-Protection against damage or loss
Agency - Correct Answer-A relationship between two parties.
Acting in a dual capacities broker and undisclosed principal in a real estate transaction -
Correct Answer-Prohibited
Commingles money that belongs to another person with the license holder's own money
- Correct Answer-Prohibited
Notifies the commission on the 15th day after the agent has entered a guilty plea to a
felony offense involving fraud - Correct Answer-Lawful
Using a contract form prepared by an attorney - Correct Answer-Lawful
Special Agency - Correct Answer-Relationship is the most limited of all the agency
relationship. Sometimes, it is even called "limited agency"
