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| If licensee fails to make clear to all parties to a transaction which party he or she is acting for, his or her license may be suspended or revoked T/F? |
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gettarb Thu, 21 Oct 2010 05:23:46 GMT |
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| Licensee is NOT required to furnish written statement providing general information concerning agency positions if proposed transaction is for residential lease for NOT more than one year and no sale is being considered T/F? |
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gettarb Thu, 21 Oct 2010 05:23:46 GMT |
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| To protect themselves from financial loss due to liability for mistakes and negligence, many brokers and agents purchase which kind of insurance? |
Errors and Omissions |
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gettarb Thu, 21 Oct 2010 05:23:46 GMT |
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| If homeowner who has NOT hired broker agrees to accept an offer brought to him by broker, he may create an |
Agency by Ratification |
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gettarb Thu, 21 Oct 2010 05:23:46 GMT |
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| Suicide on the property does NOT require disclosure by a seller T/F? |
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gettarb Thu, 21 Oct 2010 05:23:46 GMT |
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| If owner tells buyer's agent something owner would NOT want buyer to know, buyer's agent is obligated to withhold information from buyer because owner disclosed information in confidence T/F? |
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gettarb Thu, 21 Oct 2010 05:23:46 GMT |
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| Whose responsibility is it to disclose how long property has been listed and why? |
Buyer's Agent |
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gettarb Thu, 21 Oct 2010 05:23:46 GMT |
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| Agent for seller has duty to disclose to seller buyer's intention to resell property for profit T/F? |
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gettarb Thu, 21 Oct 2010 05:23:46 GMT |
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| If broker says that house is the most beautiful house in the neighborhood, the broker's statement is an example of |
Puffing |
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gettarb Thu, 21 Oct 2010 05:23:46 GMT |
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| Broker may act as an intermediary |
With the written consent of each party of the transaction |
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gettarb Thu, 21 Oct 2010 05:23:46 GMT |
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| Which duty that is owed to agent by principal consists of furnishing accurate information when requested by broker? |
Information |
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gettarb Thu, 21 Oct 2010 05:23:46 GMT |
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| Licensee who represents party in proposed real estate transaction must disclose that representation at time of licensee's first contact with another party to transaction T/F? |
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gettarb Thu, 21 Oct 2010 05:23:46 GMT |
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| If listing broker or sub-agent assists buyer in any way, he or she becomes buyer's agent and can no longer place interests of owner first T/F? |
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gettarb Thu, 21 Oct 2010 05:23:46 GMT |
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| Seller hires broker, who has several licensed associates, to sell his house. In this transaction broker is |
Agent |
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gettarb Thu, 21 Oct 2010 05:23:46 GMT |
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| Agency can be terminated by which without liability for breach of contract? |
Mutual Agreement |
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gettarb Thu, 21 Oct 2010 05:23:46 GMT |
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| Broker who represents party in real estate transaction may NOT |
Instruct another broker to negotiate directly with the client |
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gettarb Thu, 21 Oct 2010 05:23:46 GMT |
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| Broker who acts as sub-agent represents |
Seller |
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gettarb Thu, 21 Oct 2010 05:23:46 GMT |
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| Broker must NOT act in self-interest because of the duty of |
Loyalty |
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gettarb Thu, 21 Oct 2010 05:23:46 GMT |
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| Property manager would be what kind of agent? |
General |
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gettarb Thu, 21 Oct 2010 05:23:46 GMT |
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| An intermediary broker (or appointed licensee) must treat all parties honestly T/F? |
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gettarb Thu, 21 Oct 2010 05:23:46 GMT |
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| Which duty requires broker to keep principal fully informed at all times of all information broker obtains that could affect principal's decisions? |
Disclosure |
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gettarb Thu, 21 Oct 2010 05:23:46 GMT |
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| Listing agreement between seller and broker creates an |
Express Agency |
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gettarb Thu, 21 Oct 2010 05:23:46 GMT |
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| Broker who lists property for sale or lease represents owner as a(n) |
Seller's Agent |
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gettarb Thu, 21 Oct 2010 05:23:46 GMT |
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| Broker who represents seller knows that house has structural defects that will need expensive repairs, but does NOT tell prospective buyers. This is an example of |
Fraud |
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gettarb Thu, 21 Oct 2010 05:23:46 GMT |
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| The four statutory positions broker might take when doing business include intermediary position, seller representation, sub-agency, and |
Buyer Representation |
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gettarb Thu, 21 Oct 2010 05:23:46 GMT |
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| Seller instructs broker NOT to tell prospective buyers about certain hidden defects in property as required by Texas law. Because of the duty of obedience, broker must obey these instructions T/F? |
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gettarb Tue, 19 Oct 2010 18:23:17 GMT |
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| An intermediary broker (or appointed licensee) may NOT disclose that buyer will pay a price greater than the price submitted in a written offer T/F? |
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gettarb Tue, 19 Oct 2010 18:23:17 GMT |
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| Because of the duty of loyalty, broker representing buyer under buyer representation agreement cannot disclose to seller that buyer is willing to make higher offer T/F? |
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gettarb Tue, 19 Oct 2010 18:23:17 GMT |
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| Agent may be classified as general agent or special agent, based on level of licensing he or she has attained T/F? |
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gettarb Tue, 19 Oct 2010 18:23:17 GMT |
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| Consumer in real estate transaction is NOT required to have broker representation T/F? |
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gettarb Tue, 19 Oct 2010 18:23:17 GMT |
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| Substantive dialogue requiring an agent to give party Information About Brokerage Services form includes meeting at an open house T/F? |
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gettarb Tue, 19 Oct 2010 18:23:17 GMT |
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| If seller has camouflaged property defect (but NOT repaired it), broker must disclose defect if he or she knows about it T/F? |
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gettarb Tue, 19 Oct 2010 18:23:17 GMT |
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| With few exceptions, agent for seller has a duty to disclose to Seller all offers received T/F? |
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gettarb Tue, 19 Oct 2010 18:23:17 GMT |
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| Broker can assist buyer in locating property, preparing a contract or lease, or obtaining financing without representing individual T/F? |
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gettarb Tue, 19 Oct 2010 18:23:17 GMT |
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| Licensee is NOT required to furnish written Information About Brokerage Services form concerning agency positions if he or she meets with party who is represented by another licensee T/F? |
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gettarb Tue, 19 Oct 2010 18:23:17 GMT |
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| Real estate broker is usually a special agent T/F? |
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gettarb Tue, 19 Oct 2010 18:23:17 GMT |
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| Agency is created at salesperson level T/F? |
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gettarb Tue, 19 Oct 2010 18:23:17 GMT |
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| If seller's agent has an agreement with buyer that agent will manage property after it is purchased, agent is NOT required to disclose this information to seller T/F? |
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gettarb Tue, 19 Oct 2010 18:23:17 GMT |
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| The role of broker as agent of principal is a fiduciary relationship T/F? |
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gettarb Tue, 19 Oct 2010 18:23:17 GMT |
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| Licensee who represents party in proposed real estate transaction is NOT required to disclose representation to another licensee who represents another party to the transaction T/F? |
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gettarb Tue, 19 Oct 2010 18:23:17 GMT |
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