Chapter3Quiz

Chapter3Quiz

University

10 Qs

quiz-placeholder

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Chapter3Quiz

Chapter3Quiz

Assessment

Quiz

Business

University

Medium

Created by

Jeffrey Travis

Used 1+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A contract by which a principal employs an agent/broker to do certain things for the principal, usually finding a buyer for his or her property, is called a

Court order

Purchase offer

purchasing contract

Listing

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In California a listing agreement

Is an employment contract

Must be in writing to be enforceable

Is both A and B

Is neither A nor B

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

although agents ordinarily represent owners and sellers, they may be employed occasionally to represent buyers in

Negotiating leaseholds

Obtaining mortgage loans

Purchasing business opportunities

All of the foregoing activities

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

the type of listing in which the owners would be held liable for a commission even if they themselves sold the property is called a(n)

Exclusive agency listing

Exclusive right to sell listing

Multiple listing

Open listing

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The listing which is most likely to give rise to charges of misrepresentation or fraud is the

Multiple listing

Open listing

Net listing

Exclusive listing

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

"Pocket buyer" refers to a buyer

With deep pockets, meaning lots of money

Who is prepared to buy a property before it's listed with a broker

Who is a friend or relative of the broker

All of the above

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A "safe harbor" clause is usually found in the most preferred type of listing, which is the

Open listing only

Exclusive right to sell listing

Net listing

Multiple listing

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