150 Questions Final Exam.REAL
ESTATE.
,"What is puffing?
a) A statement of exaggeration, which a reasonable person can recognize as untrue.
b) A statement of exaggeration that an educated person could recognize untrue.
c) A statement that any license agent can recognize as untrue d) Going to the salon and
having your hair done. - CORRECT ANSWER a) A statement of exaggeration, which a
reasonable person can recognize as untrue." 2
"In order to avoid a dual agency, a listing agent should treat buyers as?
a) Clients
b) Customers
c) Principals
d) Guests - CORRECT ANSWER b) Customers"
"What can a broker recover from an expired listing?
a) Commission
b) Advertising fees
c) Termination fees
d) Nothing
e) Nothing, unless stated in the listing contract. - CORRECT ANSWER e) Nothing,
unless stated in the listing contract."
"What gives the agent the right to sign on behalf of the broker?
a) BRRETA
b) Agency law
c) Affiliation agreement
d) License Law
e) Verbal permission from the broker - CORRECT ANSWER c) Affiliation agreement"
"Someone wanting to sell their house can do all the following, except...
a) List with more that one broker b) Sell the property themselves c) Advertise the
property on Craigslist
d) Sell the property themselves after it has been listed, and no pay commission
e) List with a broker for $200,000 net, and let the broker keep anything above that as
commission. - CORRECT ANSWER e) List with a broker for $200,000 net, and let the
broker keep anything above that as commission."
"Sara is working with Aaron a buyer customer who wants to purchase a property listed
with Sara co-agent. If Sara puts in the offer and represents the buyer, she would be
what kind of agent?
a) Special agent
, b) Dual agent
c) Single agent representing the buyer
d) Designated agent - CORRECT ANSWER d) Designated agent"
"An apartment complex has a monthly gross income of $45,300 and has an annual
expense of 46% of the gross income. What is their annual net income?
2
a) $24,462
b) $293,544
c) $25,000
d) $294,000
e) $0.00, they break even - CORRECT ANSWER b) $293,544"
"What does "As Is" do?
a) Warns the buyer to beware
b) The house is a fixer upper
c) The house is as is, but known defects must be disclosed
d) The house is as is, and no other disclosures are needed. - CORRECT ANSWER c)
The house is as is, but known defects must be disclosed"
"You received a second offer on your listing for a higher price than the one already
accepted. What should you do?
a) Tell the second offer the house is sold
b) Tell client to back out of first offer
c) Accept offer and present it if the first one falls through
d) Present offer to client and suggests it as a possible back up
e) Tell the client to back out of the first offer, if the new offer covers any loses from the
first offer. - CORRECT ANSWER d) Present offer to client and suggests it as a possible
back up"
"An offer to purchase your listing becomes a counter offer when your client does what?
a) Changes his/her mind
b) Accepts the offer
c) Changes anything is the offer d) When the buyer makes an offer to purchase -
CORRECT ANSWER c) Changes anything is the offer"
"When can an offer be withdrawn?
a) When a counter offer is made b) Anytime
c) If the right to withdraw is in the offer
d) Anytime, prior to acceptance - CORRECT ANSWER d) Anytime, prior to
acceptance"
ESTATE.
,"What is puffing?
a) A statement of exaggeration, which a reasonable person can recognize as untrue.
b) A statement of exaggeration that an educated person could recognize untrue.
c) A statement that any license agent can recognize as untrue d) Going to the salon and
having your hair done. - CORRECT ANSWER a) A statement of exaggeration, which a
reasonable person can recognize as untrue." 2
"In order to avoid a dual agency, a listing agent should treat buyers as?
a) Clients
b) Customers
c) Principals
d) Guests - CORRECT ANSWER b) Customers"
"What can a broker recover from an expired listing?
a) Commission
b) Advertising fees
c) Termination fees
d) Nothing
e) Nothing, unless stated in the listing contract. - CORRECT ANSWER e) Nothing,
unless stated in the listing contract."
"What gives the agent the right to sign on behalf of the broker?
a) BRRETA
b) Agency law
c) Affiliation agreement
d) License Law
e) Verbal permission from the broker - CORRECT ANSWER c) Affiliation agreement"
"Someone wanting to sell their house can do all the following, except...
a) List with more that one broker b) Sell the property themselves c) Advertise the
property on Craigslist
d) Sell the property themselves after it has been listed, and no pay commission
e) List with a broker for $200,000 net, and let the broker keep anything above that as
commission. - CORRECT ANSWER e) List with a broker for $200,000 net, and let the
broker keep anything above that as commission."
"Sara is working with Aaron a buyer customer who wants to purchase a property listed
with Sara co-agent. If Sara puts in the offer and represents the buyer, she would be
what kind of agent?
a) Special agent
, b) Dual agent
c) Single agent representing the buyer
d) Designated agent - CORRECT ANSWER d) Designated agent"
"An apartment complex has a monthly gross income of $45,300 and has an annual
expense of 46% of the gross income. What is their annual net income?
2
a) $24,462
b) $293,544
c) $25,000
d) $294,000
e) $0.00, they break even - CORRECT ANSWER b) $293,544"
"What does "As Is" do?
a) Warns the buyer to beware
b) The house is a fixer upper
c) The house is as is, but known defects must be disclosed
d) The house is as is, and no other disclosures are needed. - CORRECT ANSWER c)
The house is as is, but known defects must be disclosed"
"You received a second offer on your listing for a higher price than the one already
accepted. What should you do?
a) Tell the second offer the house is sold
b) Tell client to back out of first offer
c) Accept offer and present it if the first one falls through
d) Present offer to client and suggests it as a possible back up
e) Tell the client to back out of the first offer, if the new offer covers any loses from the
first offer. - CORRECT ANSWER d) Present offer to client and suggests it as a possible
back up"
"An offer to purchase your listing becomes a counter offer when your client does what?
a) Changes his/her mind
b) Accepts the offer
c) Changes anything is the offer d) When the buyer makes an offer to purchase -
CORRECT ANSWER c) Changes anything is the offer"
"When can an offer be withdrawn?
a) When a counter offer is made b) Anytime
c) If the right to withdraw is in the offer
d) Anytime, prior to acceptance - CORRECT ANSWER d) Anytime, prior to
acceptance"
