Chapter 8 Quiz Sample

Chapter 8 Quiz Sample - Principles of California Real...

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Principles of California Real Estate Chapter 8 Quiz 1. Agency law is concerned with the duties and rights among: A. agent and principal B. agent and third party C. principal and third party D. All of the above 2. A broker took a listing which expressly authorized him to accept buyers' deposits. The broker accepted a deposit from a buyer, but then misappropriated the funds and fled. In this situation, the risk of the loss belongs to the: A. seller, since the broker was acting within his express authority to accept deposits B. buyer, since the broker was acting as his agent in regard to the deposit C. seller, under the Uniform Vendor and Purchaser Risk Act, since possession had not been transferred D. buyer, since the seller was not criminally culpable 3. A broker received two offers on the same property from two salespersons in his office, both accompanied by deposits. The broker decided to hold the second offer until the seller had seen the first offer, without informing the seller of the second offer. The broker's actions were: A. permissible if the offers are for the same price B. permissible if both salespersons will be able to split the seller's commission C. not permissible because the broker owes a fiduciary duty to both buyers
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This note was uploaded on 01/26/2012 for the course FIN 365 taught by Professor Staff during the Spring '11 term at S.F. State.

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Chapter 8 Quiz Sample - Principles of California Real...

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