Which of the statements regarding restricted licenses is incorrect?

A real estate agent or a selling concealing a known defect is an example of?

Positive misrepresentation.

Employing broker.

Which of the following does not apply to a sales person's license?

An agent is eight?

A Fiduciary

Authorizes the sales person to work in a receptacle state without broker sponsorship.

A listing contract that gives the broker commission entitlement if someone sells the property during the listing term is?

The federal government establishes the license laws.

A sales person license he may receive commission from the?

Within a 10 minute. A sales person receives two offers for a listed property what is 2% less than the listed price and the other offer is 6% less than the listed price the sales person should be present to the seller?

Both offers should be presented.

In an independent contractors relationship a sales person is entitled to?

Compensation related directly to sales output.

When a real estate firm attempts to represent the buyer and the seller in the same transaction what type of agency has arisen?

Dual agency.

According to the real property law a broker may?

Except compensation from More than one party at a transaction only with the full knowledge and consent of all parties to the transaction.

The type of listing that ensures the real estate agent commission if the agent sells the property and no commission if the seller sells the property is called a?

Exclusive agency.

I require disclosure to the buyer.

Knowing that his client the owner is eager to sell the sales person suggest that the perspective buyer make an offer of $210,000 which of the following statements is correct?

And owner list her property with three brokerage firms in each case she retains the right to sell the property herself without being obligated to pay a commission the type of listing this contract is called is?

Open.

Exclusive right to sell.

Real estate sales person advises a perspective buyer that the property the buyer is considering will be annexed into the city limits this disclosure constitutes?

A listing contract creates an agency relationship in which the?

Seller is the principal.