Barney Fletcher Cram Final Exam Updated 2025/2026
With complete solu on RATED A+ GUARANTEED
SUCCESS NEW!!
A seller wants to list the property with a broker, but wants to avoid paying any commission
should the seller be fortunate enough to sell the property. himself. Which of the following
should the seller avoid signing?
A. an exclusive agency lis ng
B. an exclusive right to sell lis ng
C. an open lis ng
D. all lis ngs - CORRECT ANSWERS B. an exclusive right to sell lis ng
Mr. Smith listed his farm with broker Bob. Although Smith did not tell him, Bob knew he had to
sell due to poor health. What should Bob tell poten al buyers?
A. tell them of the illness only if they ask, but not the need to sell
B. tell them of the need to sell to insure a quick sale
C. do not tell them even though it appears that Smith's death is imminent
D. in order to sell quickly, tell them that the seller is ill because death would cancel the lis ng -
CORRECT ANSWERS C. do not tell them even though it appears that Smith's death is imminent
In a coopera ve sale, where the lis ng broker and the selling broker represent the seller, the
selling broker has which of the following rela onships?
A. agent of the lis ng broker
B. sub agent of the lis ng broker
C. agent of the seller
,D. sub agent of the buyer - CORRECT ANSWERS A. agent of the lis ng broker
A broker had an exclusive right to sell agency lis ng. In order to collect the commission, he
must:
A. prove he was the procuring agent
B. prove he was licensed at the me of the sale
C. prove he had a ready, willing, and able buyer that met the seller's terms
D. all of the above - CORRECT ANSWERS B. prove he was licensed at the me of the sale
A broker es mated the property lines by sta ng it ran between two trees in the back yard. A.er
closing, the buyer found it was over six feet off. Is the broker liable?
A. no, he gave an es mate
B. no, the buyer should have go0en a survey
C. yes, he made a statement which he realized could be false
D. yes, the broker should have surveyed the property himself - CORRECT ANSWERS C. yes, he
made a statement which he realized could be false
Smith has an exclusive lis ng with broker Jones for $220,000. Jones finds a buyer who wants
representa on and Jones represents both Smith and the buyer, verbally disclosing that he is
now represen ng both as clients. Has Jones violated license law?
A. yes, because this is sub agency
B. yes, because this is undisclosed dual agency
C. no, because he disclosed to all par es that neither had to consent to dual agency
,D. no, because he disclosed to all par es that his ac ons may be adverse to either party,
however he would not divulge confiden al informa on - CORRECT ANSWERS B. yes, because
this is undisclosed dual agency
A buyer and seller sign an agreement to change the contract to close on May 1 instead of May
2. This is a(n):
A. addendum
B. special s pula on
C. amendment
D. clause - CORRECT ANSWERS C. amendment
When a person, upon payment of a considera on, has an obliga on to buy land at a fixed price
within a specified period of me, his right could be described as:
A. a right of first refusal
B. an op on
C. a sales contract
D. either A or B - CORRECT ANSWERS C. a sales contract
Joan has a lis ng with broker Bob. A week into the lis ng, Joan gets a call from broker Jill
sta ng that the lis ng is now with her. Can this happen?
A. it's ok as long as it was assignable in the original contract
B. it's ok as long as the brokers have a wri0en contract between them to transfer
C. never due to the statute of frauds
D. it cannot be assigned because a lis ng contract is a personal services contract - CORRECT
ANSWERS D. it cannot be assigned because a lis ng contract is a personal services contract
, What type of transac on exists when there is a wri0en contract for a broker to receive pay
from both or either party and performs only ministerial acts for one or both par es?
A. double agency
B. transac on brokerage
C. sub agency
D. single agency - CORRECT ANSWERS B. transac on brokerage
When is the correct me for the salesperson to get the proper legal descrip on of the seller's
property?
A. when filling out the offer
B. when filling out the sales contract
C. when filling out the lis ng
D. any me before closing - CORRECT ANSWERS C. when filling out the lis ng
Sue acquires an op on to buy a tract of land from Pete. which of the following is NOT true?
A. Sue is the op onee and Pete is the op onor
B. the property may be purchased at the discre on of the op onee
C. Pete may not diminish the value of the property (waste) during the period the op on is in
effect
D. Pete may not sell the property to anyone else during the period the op on is in effect -
CORRECT ANSWERS D. Pete may not sell the property to anyone else during the period the
op on is in effect
With complete solu on RATED A+ GUARANTEED
SUCCESS NEW!!
A seller wants to list the property with a broker, but wants to avoid paying any commission
should the seller be fortunate enough to sell the property. himself. Which of the following
should the seller avoid signing?
A. an exclusive agency lis ng
B. an exclusive right to sell lis ng
C. an open lis ng
D. all lis ngs - CORRECT ANSWERS B. an exclusive right to sell lis ng
Mr. Smith listed his farm with broker Bob. Although Smith did not tell him, Bob knew he had to
sell due to poor health. What should Bob tell poten al buyers?
A. tell them of the illness only if they ask, but not the need to sell
B. tell them of the need to sell to insure a quick sale
C. do not tell them even though it appears that Smith's death is imminent
D. in order to sell quickly, tell them that the seller is ill because death would cancel the lis ng -
CORRECT ANSWERS C. do not tell them even though it appears that Smith's death is imminent
In a coopera ve sale, where the lis ng broker and the selling broker represent the seller, the
selling broker has which of the following rela onships?
A. agent of the lis ng broker
B. sub agent of the lis ng broker
C. agent of the seller
,D. sub agent of the buyer - CORRECT ANSWERS A. agent of the lis ng broker
A broker had an exclusive right to sell agency lis ng. In order to collect the commission, he
must:
A. prove he was the procuring agent
B. prove he was licensed at the me of the sale
C. prove he had a ready, willing, and able buyer that met the seller's terms
D. all of the above - CORRECT ANSWERS B. prove he was licensed at the me of the sale
A broker es mated the property lines by sta ng it ran between two trees in the back yard. A.er
closing, the buyer found it was over six feet off. Is the broker liable?
A. no, he gave an es mate
B. no, the buyer should have go0en a survey
C. yes, he made a statement which he realized could be false
D. yes, the broker should have surveyed the property himself - CORRECT ANSWERS C. yes, he
made a statement which he realized could be false
Smith has an exclusive lis ng with broker Jones for $220,000. Jones finds a buyer who wants
representa on and Jones represents both Smith and the buyer, verbally disclosing that he is
now represen ng both as clients. Has Jones violated license law?
A. yes, because this is sub agency
B. yes, because this is undisclosed dual agency
C. no, because he disclosed to all par es that neither had to consent to dual agency
,D. no, because he disclosed to all par es that his ac ons may be adverse to either party,
however he would not divulge confiden al informa on - CORRECT ANSWERS B. yes, because
this is undisclosed dual agency
A buyer and seller sign an agreement to change the contract to close on May 1 instead of May
2. This is a(n):
A. addendum
B. special s pula on
C. amendment
D. clause - CORRECT ANSWERS C. amendment
When a person, upon payment of a considera on, has an obliga on to buy land at a fixed price
within a specified period of me, his right could be described as:
A. a right of first refusal
B. an op on
C. a sales contract
D. either A or B - CORRECT ANSWERS C. a sales contract
Joan has a lis ng with broker Bob. A week into the lis ng, Joan gets a call from broker Jill
sta ng that the lis ng is now with her. Can this happen?
A. it's ok as long as it was assignable in the original contract
B. it's ok as long as the brokers have a wri0en contract between them to transfer
C. never due to the statute of frauds
D. it cannot be assigned because a lis ng contract is a personal services contract - CORRECT
ANSWERS D. it cannot be assigned because a lis ng contract is a personal services contract
, What type of transac on exists when there is a wri0en contract for a broker to receive pay
from both or either party and performs only ministerial acts for one or both par es?
A. double agency
B. transac on brokerage
C. sub agency
D. single agency - CORRECT ANSWERS B. transac on brokerage
When is the correct me for the salesperson to get the proper legal descrip on of the seller's
property?
A. when filling out the offer
B. when filling out the sales contract
C. when filling out the lis ng
D. any me before closing - CORRECT ANSWERS C. when filling out the lis ng
Sue acquires an op on to buy a tract of land from Pete. which of the following is NOT true?
A. Sue is the op onee and Pete is the op onor
B. the property may be purchased at the discre on of the op onee
C. Pete may not diminish the value of the property (waste) during the period the op on is in
effect
D. Pete may not sell the property to anyone else during the period the op on is in effect -
CORRECT ANSWERS D. Pete may not sell the property to anyone else during the period the
op on is in effect
