Barney Fletcher Final Exam
(ACTUAL 2025) Questions
with 100% VERIFIED
Correct Answers
,One of the significant differences between an employee
and an independent contractor is that:
A. an independent contractor does not need an
affiliation agreement with the broker
B. an employer must pay an unemployment tax for each
employee
C. only the independent contractor can have draws
against future commissions
D. only the independent contractor has social security
withheld from his or her commission checks -
<<<Answers>>>B. an employer must pay an
unemployment tax for each employee
When a salesperson is negotiating a listing contract, she
learns that the seller has an assumable loan. Should she
discuss with the seller ways to assist a buyer in financing
the property?
A. no, because if the seller's loan is assumed, the seller
will always remain in a vulnerable position
B. no, because financing part of the purchase price
would place the seller in a vulnerable position
,C. yes, because every seller's equity in his/her property
must be reduced to avoid capital gains taxes
D. yes, because the seller's willingness to assist in the
financing by allowing the loan to be assumed and
possibly taking a second mortgage may make the
property much more marketable, which would be to the
seller's benefit - <<<Answers>>>D. yes, because the
seller's willingness to assist in the financing by allowing
the loan to be assumed and possibly taking a second
mortgage may make the property much more
marketable, which would be to the seller's benefit
When obtaining an FHA loan, which generally happens?
A. an FHA approved appraiser appraises the property
B. FHA makes the loans directly to the borrower
C. the borrower makes the down payment directly to the
FHA
D. none of the above - <<<Answers>>>A. an FHA
approved appraiser appraises the property
The contract signed between a buyer and a broker is
called?
A. listing contract
B. buyer's brokerage agreement
, C. listing agreement
D. buyer's relationship - <<<Answers>>>B. buyer's
brokerage agreement
Typically in Georgia, the agent representing the seller is
called?
A. the selling agent
B. the listing agent
C. the sub agent
D. the listing broker - <<<Answers>>>D. the listing
broker
Which documents must be in writing to be enforceable
according to the statute of frauds?
A. leases over a year old
B. real estate sales contracts
C. deeds
D. all of the above - <<<Answers>>>D. all of the above
(ACTUAL 2025) Questions
with 100% VERIFIED
Correct Answers
,One of the significant differences between an employee
and an independent contractor is that:
A. an independent contractor does not need an
affiliation agreement with the broker
B. an employer must pay an unemployment tax for each
employee
C. only the independent contractor can have draws
against future commissions
D. only the independent contractor has social security
withheld from his or her commission checks -
<<<Answers>>>B. an employer must pay an
unemployment tax for each employee
When a salesperson is negotiating a listing contract, she
learns that the seller has an assumable loan. Should she
discuss with the seller ways to assist a buyer in financing
the property?
A. no, because if the seller's loan is assumed, the seller
will always remain in a vulnerable position
B. no, because financing part of the purchase price
would place the seller in a vulnerable position
,C. yes, because every seller's equity in his/her property
must be reduced to avoid capital gains taxes
D. yes, because the seller's willingness to assist in the
financing by allowing the loan to be assumed and
possibly taking a second mortgage may make the
property much more marketable, which would be to the
seller's benefit - <<<Answers>>>D. yes, because the
seller's willingness to assist in the financing by allowing
the loan to be assumed and possibly taking a second
mortgage may make the property much more
marketable, which would be to the seller's benefit
When obtaining an FHA loan, which generally happens?
A. an FHA approved appraiser appraises the property
B. FHA makes the loans directly to the borrower
C. the borrower makes the down payment directly to the
FHA
D. none of the above - <<<Answers>>>A. an FHA
approved appraiser appraises the property
The contract signed between a buyer and a broker is
called?
A. listing contract
B. buyer's brokerage agreement
, C. listing agreement
D. buyer's relationship - <<<Answers>>>B. buyer's
brokerage agreement
Typically in Georgia, the agent representing the seller is
called?
A. the selling agent
B. the listing agent
C. the sub agent
D. the listing broker - <<<Answers>>>D. the listing
broker
Which documents must be in writing to be enforceable
according to the statute of frauds?
A. leases over a year old
B. real estate sales contracts
C. deeds
D. all of the above - <<<Answers>>>D. all of the above
