Real Estate Exam Chapter 1,2,3,4,5,6,7a,7b, With Verified 100% Correct Answers 2024

Real Estate Exam Chapter 1,2,3,4,5,6,7a,7b, With Verified 100% Correct Answers 2024 A contract where one transaction depends upon another is known as a...? Correct Answer Tie-in Arrangement A licensed real estate agent who acts on behalf of a tenant in a commercial property transaction is known as a...? Correct Answer Tenant's Agent A listing given to any number of brokers without liability to compensate any broker, except the one who first secures a buyer ready, willing and able to meet the terms of the listing, is known as a/an...? Correct Answer Open Listing A person who has oral or written authority, either express or implied, to act for or on behalf of a landlord is known as...? Correct Answer Landlord's Agent A person who is hired to provide services to a company on a regular basis in exchange for compensation and who does not provide these services as part of an independent business is known as a/an...? Correct Answer Employee A person who on behalf of, or for the benefit of another, transacts business or handles money or property not the person�s own is known as a...? Correct Answer Fiduciary A property was sold for $200,000. The total commission for the transaction was 6%. The listing broker and buyer's broker agreed to split the commission 50/50. If the buyer's broker's real estate agent was responsible for the sale of the property and receives a 65/35 split with his broker, how much commission is paid to the real estate agent...? Correct Answer 3900 A property was sold for $220,000. The total commission for the transaction was 5%. The listing broker and buyer's broker agreed to split the commission 50/50. What is the amount of commission paid to the listing broker...? Correct Answer 5500 A property was sold for $325,000. The total commission for the transaction was 6%. The listing broker and buyer's broker agreed to split the commission 50/50. What is the amount of commission paid to the buyer's broker...? Correct Answer 9750 A property was sold for $345,000. The total commission for the transaction was 6%. The listing broker and buyer's broker agreed to split the commission 50/50. If the listing broker's real estate agent was responsible for the sale of the property and receives a 70/30 split with his broker, how much commission is paid to the real estate agent...? Correct Answer 7245