A broker acts as an undisclosed agent for both the buyer and seller in a transaction. The buyer does not want to go through with the purchase although the price she agreed to pay is fair.
IRS Form 1099 would be used by a broker to report:
Which of the following does not need any special knowledge of law?
An example of a red flag would be:
The agency between a real estate broker and an owner would not be:
An agent may disobey instructions of the agent's principal:
A real estate broker can be discliplined for:
Balancing a bank statement with a trust account is known as:
A listing broker can have any of the following agencies except:
In a sale transaction, a broker represents only the buyer. This would be an example of:
A broker exceeds his authority and without the owner's knowledge tells the buyer that the house will be repainted.
An agent failed to reveal to the seller that she was acting in a dual agency capacity. Therefore, the agent:
A valid agency requires a(n):
An agency agreement does not require:
The Commissioner's regulations:
A selling agent can be :
The Real Estate Commission conducts hearings in accordance with the:
A transfer disclosure statement is required for:
Disciplinary hearing for real estate licensees would be conducted by:
A real estate broker is guilty of conversion. He or she most likely:
XYZ Inc. listed a warehouse for sale. After giving the listing, all the officers and directos are killed in a plan crash. What happens to the listing?
If a principal allows his or her agent to appear to have authority, the principal may not later deny an act of the agent, because of:
A broker buys a property he has listed:
The maximum amount that a person can recover from the Real Estate Education Research and Recovery Fund after he or she has obtained a judgment against a licensee is:
A property owner tells the broker that the house is connected to the sewer. The broker relays this information to the buyer, who later finds that the house has septic system in need of repair. The buyer would probably sue:
A country real estate broker's office is in his home. His sign reads "John Jones-REALTOR". He lives 25 miles from a bank and makes trips twice a month to deposit funds in his trust account. He keeps deposits in his office safe until then. He does not belong to any profeessional organizations, but he pays a 17-year-old boy $5 for each listing. Jones is guilty of all but which of the following?
Under the Business and Professions Code, which of the following is not grounds for revocation of license?
As to money held in trust, which of the following is true?
A buyer claims that a seller and a broker failed to reveal many defects known to them that made the property unsuitable for the purpose stated.
The Real Estate Law is part of:
The written contract between an employing broker and an employed salesperson is required by:
The agency formed by an exclusive listing is:
California allows which type of agency?
The primary purpose of the Real Estate Law is to:
Commingling is the opposite of:
Upon acceptance of an offer, a broker may never:
The Sherman Act prohibits all except agreements to:
A selling agent can elect to be:
The first action of the Real Estate Commissioner, prior to disciplinary action against a licensee, would be:
A buyer of a duplex did not receive a transfer disclosure statement. The buyer can:
A person may give a power of attorney to:
A broker may never:
Penny sues a licensee for damages resulting from dishonest conduct in a real estate dealing. The maximum she can collect is:
A broker who is on the city planning commission tells some friends about an advantageous deal based on confidential plans to change the zoning. The broker does not personally benefit in any way. The broker's action:
Use of term REALTOR by a licensee not authorized to do so could result in:
An attorney-in-fact cannot:
The court decision that requires the agent to make a reasonable visual inspection of the premises is:
A salesperson's business card must include:
A property owner suffers a loss because of the fraudulent misrepresentation of a broker. The owner should:
How long does a broker have to deposit a check received made out to the broker's trust account?
A salesperson's relationships to an ownerclient of the broker would be most nearly that of:
A contract for the sale of residential property includes a general "as is" provision. This provision:
A broker offered subagency to another agent. Which of the following is a true statement?
A hazardous, colorness, odorness gas found in homes describes:
A broker is selling his own rental unit. He collects the rent on the first day of the month, which is the same day he receives a deposit with an offer to purchase giving him three days to accept. He should:
An owner unilaterally cancelled a six-month sale listing with three months to go. Which of the following is a true statement?
The Business and Professions Code comes from:
When may a broker refuse to submit a low offer to purchase to the owner?
If an agent is guilty of a tort, the:
An agency relationship would not be created by:
When is a broker engaged in dual agency?
A real estate salesperson is to his or her broker as:
A principal would not be liable for torts of:
A salesperson, in selling listings of another broker, would be directly responsible to:
The three steps of agency disclosure, in the proper chronological order, are:
A listing broker may not be:
A broker sells an apartment building to a syndicate of which the broker is a member without informing the seller of this interest. Before closing, the owner discovers the broker's interest and refuses to sell. In a suit to collect a commission, the result would probably be:
Which of the following woulf most likely be a general agent?
A seller sold property "as is". The broker knew the plumbing was in bad repair but did not inform the buyer. The buyer can sue:
A Real Estate Transfer Disclosure Statement is NOT required for the sale of:
When may a broker accept a commission from both a buyer and a seller?
Commingling is the reason more licenses are revoked than any other. Which of the following is an example of commingling?
Both an owner and a buyer ask to have the trust funds deposited by the buyer. The broker should:
The Real Estate Law comes from:
As to a broker's trust accounts, which of the following is true?
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