Quiz- 1st Attempt Wrong Answers

When must a disclosure about a sales inducement to consumers be provided in Montana?

• After the offer has been conferred

• When the brokerage agreement is signed

• Any time before closing

• Before or at the time of the offer's delivery

The renewal period to submit the application & fees for Montana license renewal is _______________

• 60 days before the expiration date

• 45 days after the expiration date of

• 60 days before the anniversary of receiving the license

• November 1 - October 31

A licensee in Montana paid her twin sister to take her continuing education courses for her. If the Montana Board of Realty Regulation finds out, they might cite her for ______________

• Practicing without a license

• Felony impersonation

• Failure to procure a license

• Unprofessional conduct

A seller decides not to accept a buyer's offer by the time & date indicated in the contract, and the offer lapses. What happens to the earnest money deposit?

• The deposit remains with the broker

• It's divided between the buyer and seller

• Returned to the buyer

• The seller gets to keep it

A salesperson in Helena was working as a buyer's agent. Then the transaction closed, the salesperson accepted a split directly from the seller's salesperson. How was this a violation of Montana's license laws?

• The buyer's agent isn't allowed to accept a cooperating broker's split

• The salesperson may only accept compensation from his own client

• The salesperson may only accept compensation after receiving consent from the cooperating broker & disclosing this before an offer is made

Which phrase from the following description should be edited to meet Montana's fair housing guidelines? "Nestled away in a neighborhood of gracious pre-war mansions, many now converted to offices, Beatrice Palace, built in 2004, emulates its predecessors in scale, and to some extent in visual expression. The peaked roofline has a Tudor effect, capped by our ancestors' signature copper roofing. The interiors are ample, not over-sized, with 10-foot ceilings and high-quality features."

• "Our ancestors' signature copper roofing"

• "Emulates its predecessors in scale"

• "Interiors are ample, not over-sized"

• "Pre-war mansions"

A salesperson in Montana has a current listing agreement with BDL Realty, which expires at the end of the month. He has become very upset with the way his listing has been handled & would like to switch over to MBT Realty. What would be the best solution that would allow a salesperson to do this & protect MBT Realty?

• A salesperson should cancel the agreement with BDL Realty immediately & sign the listing agreement with MBT Realty.

• A salesperson should confer with an attorney before making any move prior to the expiration of the agreement with BDL Realty

• The salesperson should just sign the agreement with MBT Realty. It's okay to have both

In Montana, which of the following is true about commission inducements?

• If used to convince sellers to enter into listing agreements, they must be disclosed in the contract

• They are always illegal

• If used to convince buyers & sellers to enter into purchase contracts, they must be disclosed

Which one of the following scenarios constitutes illegal licensee compensation in Montana?

• The salesperson's employing broker made her commission check out to her business entity

• The salesperson's seller client gave her a $250 gift card as a thank you for a job well done at the close of the transaction

• The salesperson's employing broker paid an employing broker from another brokerage a referral fee

A salesperson in Montana is representing a prospective buyer. The buyer has expressed an interest in a house. The seller has her own agent. The buyer's agent has tried multiple times to get in touch with the seller's agent over the past 3 weeks without success. Would it be alright if the buyer's agent contacted the seller directly?

• Yes, the buyer's agent has made a diligent but unsuccessful effort to communicate with the seller's agent, so communication directly with the seller is allowed.

• No, the seller has her own agent, & all communications regarding the house, without exception, must go through the agent.

• No, in Montana, direct communication with a seller is only allowed if the listing agent fails to respond to messages for at least 30 days.