Course 2 Quiz 3
An agent who works for only the buyer or the seller is known as a ? A. Single agent. B. Dual agent C. Intermediary D. Associate agent.
Answer: A, Single agent.
a real estate salesperson operates as a sub-agent to their broker. A. True B. False
Answer : A, True .
Any agent involved in a residential real estate are entitled to a real estate transfer disclosure statement ? A. True B. False
Answer : A, True.
Which of the following occurs when two agents working under the same sponsoring broker represent both sides in a transaction ? A. Single agency B. Mandated agency C. Associate agency D. Dual Agency
Answer : D, Dual agency .
A person in a position of trust and Confidence is known as a ? A. Fiduciary B. Partner C. Employee D. client
Answer: A, Fiduciary.
A _________ Property is a property that may be perceived to be undesirable for other than physical or environmental reasons ? A. Stigmatized B. Disclosed C. Hazard D. Sub-Divided
Answer: A, Stigmatized.
A mandated disclosure is a disclosure which is required by law ? A. True B. False
Answer: A, True
All disclosures involved in a Real Estate Transaction should be in writing ? A. True B. False
Answer: A, True
Anything greater than 4 dwelling units is considered commercial Real Estate ? A. True B. False
Answer: A, True
The real estate broker is responsible for completing the ADVID Form ? A. True B. False
Answer: A, True
The weather condition at the time of the visual inspection must be described on the ADVID ? A. True B. False
Answer: A, True
A real estate broker acts as a Fiduciary to the principle ? A. True B. False
Answer: A, True.
TILA was enacted in ? A. 1964 B. 1968 C. 1974 D. 1988
Answer: B, 1968.
Dual agency is illegal in California ? A. True B. False
Answer: B, False
When conducting their visual inspection, the real estate agent is required to check crawl spaces and roofs ? A. True B. False
Answer: B, False .
A broker never owes Fiduciary duties to the buyer ? A. True B. False
Answer: B, False.
The seller's broker is responsible for completing the Transfer Disclosure statement ? A. True B. False
Answer: B, False.
Which of the following is an indication of a water problem in a house ? A. Sloped floor. B. Mold C. Cracks in the foundation . D. All The Above.
Answer: B, Mold.
An agency in which the agent acts concurrently for both of the principles in a transaction is known as ? A. Single agency B. Dual agency C. implied agency D. Partial agency
Answer: B, dual agency.
What is the final step in disclosing an agency relationship ? A. Disclose B. Record C. Confirm D. Elect
Answer: C, Confirm.
This court case determined that the seller's agent only has the duty to visually and diligently inspect a property ? A. Roe Vs. wade B. Plessy Vs. Ferguson C. Easton Vs. Strassburger D. Marshal Vs. Brown
Answer: C, Easton Vs. Strassburger.
Agency exists Between the principle and ? A. Real estate salesperson B. Customer C. Real estate broker D. Client
Answer: C, Real estate Broker .
The natural hazards disclosure is required for ? A. commercial Properties . B. Special use properties . C. Residential properties . D. Multi Family Properties .
Answer: C, Residential properties.
That duty owed by an agent to act in the highest good faith toward the principle and not to obtain any advantage over the latter by the slightest misrepresentation, concealment, duress or pressure is known as ? A. disclosed duty B. legal duty C. Fiduciary duty D. express duty
Answer: C, fiduciary duty .
Properties built prior to _________ require a lead based paint disclosure. A. 1964 B. 1968 C. 1976 D. 1978
Answer: D, 1978 .
Any fact that would influence the decision of a reasonably prudent person ? A. Objective Fact. B. subjective Fact. C. Substantial Fact D. Material fact
Answer: D, Material fact.
TILA is also known as ? A. Regulation L B. Regulation T C. Regulation Y D. Regulation Z
Answer: D, Regulation Z .
Who owns any listings obtained by a real estate salesperson ? A. The salesperson only. B. Both the salesperson and the sponsoring broker. C. The principle only. D. The salesperson sponsoring broker only.
Answer: D, The salesperson sponsoring broker only.
Which of the following must be double braced in California ? A. Plumbing fixtures . B. celling tiles . C. Large windows. D. water heaters.
Answer: D, Water Heaters .
