Chapter 4 Review

Nonrepresentation is one of three types of brokerage relationship options.

• True

• False

The appropriate type of brokerage relationship is determined by the customer

• True

• False

The duty to account for all funds is a duty in a no brokerage (nonrepresentation) relationship

• True

• False

The duty to disclose all known facts that materially affect the value of residential real property that are not readily observable to the buyer is a duty of all three types of brokerage relationships.

• True

• False

A single agent is defined as a broker who represents, as a fiduciary, the buyer or the seller but NOT both in the same transaction

• True

• False

Confidential information learned during the course of the single agency cannot be divulged by the broker until the transaction has concluded and the agent-principal relationship has ended.

• True

• False

The seller, is a single agent relationship, is the principal

• True

• False

Transaction brokers must present all _______ and _______

Transaction brokers do not represent either buyer or seller in a _______ capacity

In Florida, it is presumed that licensees are operating as ___________