Chapter 8 Check your understanding

Which of the following is the licensee required to disclose to any client

Identity as a principal in any real estate transaction where he or she is also a broker

Any advertising of property or Real Estate services must be directly supervised by the

Licensed individual , broker or designated qualifying broker

Puffing Exaggeration the truth size of structure

Misrepresenting

What must a licensee do BEFORE placing a FOR SALE sign on a listed property

Obtain written permissions of the properties owner

Allison Brownell is the sellers agent for a property where an earlier owner shot and killed his family, what were her disclosure duties toward prospective buyers

She ISN"T obligated to tell them anything about the past crime

Salesperson Patrick works at ABC reality his friend Sam is a salesperson at 123 realty and is having trouble selling a listing Patrick wants to help so he asks the permission of 123 realty

Sponsoring broker and includes 123 realty's logo and name in the ads, Has Danny acted correctly ? No licensees are NOT allowed to include the name of a Real Estate Co in advertising if they do not work for the company

When a license wishes to sell his or her own home ( for sale by owner) What is he or she required to do

State that he or she is a licensee in all advertising and on any signs placed on the property

What must be posted on ALL flyers, brochures, or just listed cards which advertise properties for sale

The Month, Year the advertisement was printed, published, or distributed" just listed card " are not required to do that for newspapers or magazines they already have dates on them

When a brokerage firm operated under a trade name it must register that trade name with whom

The Secretary Of State

Which of the following is a salesperson NOT required to include on the first or last page of all electronic communications email message boards etc used for advertising

The commission amount the salesperson will make on the property or service being advertised

Who is responsible for what appears in property or Real Estate services Ads

The licensed individual broker or qualifying broker

Which of the following is NOT one of the IRS guidelines that determine whether a licensee is an employee or an independent contractor

The licensee is allowed to respect only the buyer, NOT SELLERS

It is a violation of regulations to fail to include , on any flyer, a brochure, or just listed card advertising a property

The month and year the advertisement is printed , published, or distributed

Although very easily overlooked , all advertising by licensees affiliated with a franchise must include

A disclosure that the Real Estate brokerage firm is independently owned and operated

Which of the following is NOT required to be on every web page

A statement that the AD was approved by the LREC

In any advertising trade name is clearly identifiable entity that will distinguish itself from other licenses

Any advertisement under a trade name , the trade name must clearly identifiable and distinguishable from that of other real estate brokers or brokerage firms

A Group or team name may be used in an advertisement only with the approval of the sponsoring broker

Any person listed as a group or team member in the advertisement must be a licensee sponsored by the sponsoring broker

The agents name, phone number , email, address, website or other contact information may be in the ad if

Approved by the broker

A licensee must provide the LREC approved agency disclosure form to consumers WHEN

At first substantive contact( licensee must provide the agency disclosure information pamphlet or the agency disclosure form to prospective sellers/lessors and buyers/ lessees at the time contact is made

All advertising by a licensed salesperson, associate broker, individual real estate broker or licensed corporation limited liability company or partnership shall include their businesses name, which fir the purpose of these rules shall mean

The name in which that salesperson, associate broker, individual real estate broker, or licensed corporation , limited liability company or partnership is on record with the commission as doing business as a license of the commission or in the case of a trade name , that which is registered with the secr of state and on record with the commission

Licensees are prohibited from paying a Real Estate Commission to

Unlicensed individuals

Salesperson Tim is given a referral by his friend Adam who is unlicensed the referral turns into a listing that earns Tim a sizeable commission ,Tim wants to pay Adam, how much can Tim pay Adam

ZERO

A group or team name as long as the name / names

of the salespersons and or associate broker or brokers are included near team reference and can not be construed as that of a company name