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WorksheetsReal Estate
Total questions: 11
Worksheet time: 6mins
All But one of the following owes a fiduciary obligation?
Executor
Guardian
Attorney
Mortgagor
One who has the right to sign the name of his principal to a contract of sale is:
A real estate broker
A special agent
An attorney in fact
An attorney at law
A real estate salesperson might lawfully accept an extra commission in a difficult sale from
An appreciative seller
A thankful buyer
A broker employer
The mortgage lender
Any person partnership association or corporation who authorizes or employs another called the agent to perform certain acts on his behalf is the
Agent
Broker
Principal
Assignor
An agent is considered to have earned his commission
Only if title is transfer
If he secures an offer from a prospect buyer
If he produces a ready willing and able buyer on the principles terms
When the principal signs a contract of sale
A broker is
A principal to the sales person
The agent of a sellers under a listing contract
The agent of a buyer in a buyer agency agreement
All of the above
salespersons may accept compensation of their predetermined share
As indicated and given by the multiple listing service
From the owner of the property
From their employing broker
From the cooperating broker
The commission rate for the sale of real estate is determined by
Seller
Fixed schedules approved by real estate commission
Scarcity A real estate for sale
Negotiation
Which of the following persons will not have fiduciary duties to a principal
Trustees
Administrators
employees
Receivers
The position of trust assumed by the broker as an agent for the principal is described most accurately as
Trustee relationship
Truster relationship
Confidential relationship
Fiduciary relationship
Known hidden defects in a property must be disclosed by
Seller only
Broker only
Sales person only
Seller broker and sales person
