CHAMPIONS REAL ESTATE AGENCY RELATIONSHIPS EXAM 2025 |
200 QUESTIONS WITH VERIFIED ACCURATE SOLUTIONS
1. The practitioner has a responsibility to put the interests of a
client before his own. The main reason is because the
practitioner
Understands he can be used by the
client Knows that it will result in
more business
Has a fiduciary relationship with the client
Is a member of a professional organization
2. What is the primary basis of a fiduciary relationship in real
estate? Customer rules
Lies pendens
Trust
Disclosure requirements
3. When actions lead another person to assume that one is an
agent, this is known as:
Ostensible agency
Agency by
ratification
Express authority
None of these is correct
4. If Agent Sarah at XYZ Realty has a buyer who is interested in a
property listed by Agent Tom at ABC Realty, but the buyer
refuses to sign an agency agreement with XYZ Realty, what is
,the implication for Agent Sarah's
representation in this scenario?
Agent Sarah represents the buyer and has full
fiduciary duties Agent Sarah represents the seller as
a subagent of ABC Realty
, Agent Sarah cannot represent the buyer and has no
obligations
Agent Sarah represents the buyer only if the IABS form is
provided
5. Explain the significance of providing the Information About
Brokerage
Services (IABS) form during the first substantive discussion of a real
estate transaction.
It ensures compliance with local zoning laws.
It establishes the agency relationship and informs clients
of their rights.
It serves as a marketing tool for the brokerage.
It is a requirement for obtaining a real estate license.
6. When an agency is created because the actions of the principal
may lead one to reasonably believe that the presumed agent
has the authority to act for the principal.
Agency by
estoppel Agency
by permission
Agency by
ratification Agency
by demand
Agency by practicality
7. Explain the significance of non-fiduciary duties in the context of
real estate agency relationships. Why are these duties
important for agents when
dealing with customers?
They ensure agents can act in their own interest.
They help maintain transparency and build trust with
, customers.
They allow agents to avoid legal
responsibilities. They are less important
than fiduciary duties.
200 QUESTIONS WITH VERIFIED ACCURATE SOLUTIONS
1. The practitioner has a responsibility to put the interests of a
client before his own. The main reason is because the
practitioner
Understands he can be used by the
client Knows that it will result in
more business
Has a fiduciary relationship with the client
Is a member of a professional organization
2. What is the primary basis of a fiduciary relationship in real
estate? Customer rules
Lies pendens
Trust
Disclosure requirements
3. When actions lead another person to assume that one is an
agent, this is known as:
Ostensible agency
Agency by
ratification
Express authority
None of these is correct
4. If Agent Sarah at XYZ Realty has a buyer who is interested in a
property listed by Agent Tom at ABC Realty, but the buyer
refuses to sign an agency agreement with XYZ Realty, what is
,the implication for Agent Sarah's
representation in this scenario?
Agent Sarah represents the buyer and has full
fiduciary duties Agent Sarah represents the seller as
a subagent of ABC Realty
, Agent Sarah cannot represent the buyer and has no
obligations
Agent Sarah represents the buyer only if the IABS form is
provided
5. Explain the significance of providing the Information About
Brokerage
Services (IABS) form during the first substantive discussion of a real
estate transaction.
It ensures compliance with local zoning laws.
It establishes the agency relationship and informs clients
of their rights.
It serves as a marketing tool for the brokerage.
It is a requirement for obtaining a real estate license.
6. When an agency is created because the actions of the principal
may lead one to reasonably believe that the presumed agent
has the authority to act for the principal.
Agency by
estoppel Agency
by permission
Agency by
ratification Agency
by demand
Agency by practicality
7. Explain the significance of non-fiduciary duties in the context of
real estate agency relationships. Why are these duties
important for agents when
dealing with customers?
They ensure agents can act in their own interest.
They help maintain transparency and build trust with
, customers.
They allow agents to avoid legal
responsibilities. They are less important
than fiduciary duties.
