Quiz 2nd attempt- Wrong Answers

Which type of license requires the holder to be affiliated with a specific property for the license to be active?

• Timeshare Salesperson

• Broker

• Property Management

• Salesperson

A Montana realtor asks a listing broker for the expiration date of their contract with a seller. The listing broker refuses to provide the realtor with that information. What is the realtor allowed to do?

• Contact the Montana Board of Realty Regulation

• The realtor can't do anything

• The realtor may contact the seller to discuss future representation

• With the listing broker's permission, contact the seller

In Montana, the department shall first consider the sanctions that are necessary to ______________.

• Support to the violations committed

• Prevent the violation from reoccurring

• Set an example of what unprofessional conduct is

• Protect or compensate the public

In Montana, commissions, brokerage fees, and service income are all examples of _______________.

• Commingled funds

• Trust funds

• Non-trust funds

• Converted funds

A Montana salesperson has been offered compensation by one of the parties in a real estate transaction. Under what circumstances would he be permitted to accept that compensation?

• If the compensation is less than $1,000, he'd be allowed to accept it

• Under no circumstances would he be allowed to accept compensation from someone other than his brokerage

• If the compensation is promptly & fully disclosed to the relevant parties and it's otherwise legal, he would be permitted to accept it

A salesperson in Montana has included a picture of a local church within a posting she just listed on the MLS. She also noted that the home's proximity to the church in the description. Is this allowed?

• No because the salesperson has to show pictures of all the local churches, not just that one

• Yes because it will bring in more prospective buyers who want to live by the church

• No because the salesperson is showing preference toward a religious group

• Yes because the salesperson is telling the truth about the property

What is an important step a Montana brokerage must take to ensure that all licensees avoid violating laws?

• Provide education & training for all staff on state laws & regulations

• Require licensees to have a college degree that includes the study of real estate law

• Require licensees to pass periodic tests on relevant real estate laws

A listing broker is selling a house in Montana for the owner. Another broker who is unaffiliated with the listing broker expresses interest in advertising the listing. Who must give permission for this to occur?

• Permission isn't required

• The listing broker

• The owner

• The listing broker & the owner

With tenancy in common in Montana, what can happen to the ownership interest of the deceased tenant in common?

• The portion of ownership is auctioned

• The portion of ownership is given to the state

• The portion of the ownership is inherited by their heirs

• The portion of ownership is transferred to the other owners

A seller listed his home with a realtor in Montana. The seller's neighbor is also a realtor and a good friend. When the neighbor's buyer client is ready to make an offer on the seller's property, the realtor neighbor _____________.

• Must bring the offer to the seller's agent

• Should bring the offer directly to the seller

• Should suggest the buyer offer a low bid because she's sure she can convince the seller

• Should advise the seller to break his agreement with the seller's realtor neighbor & offer his house for sale by owner