chapter 2 quiz questions

what is the main message of megans law? 1. increased sentences for felonies 2. preventing tenants with felony background from renting apartments 3. brokers responsibility to disclosure if offenders live nearby 4. more transparency and public info on sex offenders

more transparency and public info on sex offenders

what is stigmatized property? 1. property with a designated status by the government 2. particularly desirable property with higher market value 3. property with a negative association due to a death, crime or illness 4. property under police investigation

property with a negative association due to a death, crime or illness

which is not specifically motioned as non-material defect under stigmatized property disclosure law? 1. sex offender in the neighborhood 2. crime in the property 3. death in the property 4. non-communicable illness in the property

sex offender in the neighborhood

what is the real name of megans law in new york state? 1. sex offender registration act 2. crimes against children act 3. child protection act 4. victims services law

sex offender registration act

when did buyer agency become popular? 1. buyer agency is illegal 2. buyer agency has always been standard 3. 1980s, when federal trade commission recognized it 4. buyer agency is new in last decade

1980s when federal trade commission recognized it

which is true? 1. brokers are always paid by landlord 2. a broker may be paid by a landlord or tenant or both 3. brokers can never be paid by both sides in a deal 4. whoever pays the broker is the person they represent

a broker may be paid by landlord or tenant or both

what is an implied contract? 1. a contract that cannot be enforced incourt 2. a written contract with vague information 3. a contract suggested by actions and not written 4. a contract that is illegal in new york

a contract suggested by actions and not written

which is illegal? 1. a spoken contract 2. an implied contract 3. a salesperson making a contract with a brokerage client 4. an exclusive contract

a salesperson making a contract with a brokerage client

how are commissions determined? 1. negotiation by salesperson and customer 2. by state law 3. by a standard set in the industry 4. by negotiation between broker and client

by negotiation between broker and client

how does an agent decide whom to represent? 1. one agent always represents buyer and one represents seller 2. it is dictated by article 12A 3. all agents represent seller or landlord 4. by signing a contract

by signing a contract

which type of agent is not recognized by dept. of state? 1. designated y agent 2. free agent 3. dual agent 4. brokers agent

free agent

what is a contract with a seller or landlord usually called? 1. representation contract 2. listing contract 3. co-broke contract 4. independent contractor agreement

listing contract

what does the glazer-lopreste case say about the duty of a seller's agent? 1. new york requires tents to through research the area 2. new york requires disclosure of sex offenders in the area 3. new york requires disclosure of what agent knows about offenders 4. new york imposes no duty to disclose info on sex offenders

new york state imposes no duty to disclose info on sex offenders

salespersons and brokers are what kind of agent? 1. universal 2. dual 3. general 4. special

special

what does federal law not specifically require of the states? 1. to extradite criminals 2. to share info on sex offenders 3. to have a state megan's law 4. to maintain a public sex offender registry

to extradite criminals

what is restraint of trade? 1. when the tax burden becomes prohibitive 2. when government places a ceiling on corporate earnings 3. when consumers don't have a choice 4. a brokerage limiting the number of associates

when consumers don't have a choice

A co-broker in a cooperative transaction owes loyalty to everyone except: 1. client 2. buyer 3. seller 4. listing broker

buyer

what year was sherman act passed? 1. 1890 2. 1914 3. 1922 4. 1974

1890

in real estate, which is not prohibited by sherman act? 1. price-fixing 2. dual agency 3. tie-in 4. group boycott

dual agency

commissions are not determined by: 1. negotiation by salesperson and customer 2. by state law 3. by a standard set in the industry 4. all of the above

all of the above

what is least related to anti-trust? 1. federal trade commission 2. sherman act 3. clayton act 4. article 12A

article 12A