Chapter 16 Quiz Sample Solutions

Chapter 16 Quiz Sample Solutions - 1 Answer Key 1. 2. 3. 4....

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
1
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Answer Key 1. D 2. D 3. B 4. A 5. D 6. D 7. B 8. B 9. B 10. D 11. A 12. C 13. A 14. C 15. A 2
Background image of page 2
Answer Key with Explanations Question #1 Answer: D Explanation: These acts are required if a broker decides to exercise a listing agreement's option to purchase. Question #2 Answer: D Explanation: If the buyer fails to give notice properly, he may become liable to the seller's creditors. Question #3 Answer: B Explanation: Without a Certificate of Clearance (also called a clearance receipt), the buyer will be liable for any unpaid seller's sales tax. Question #4 Answer: A Explanation: Each county's District Attorney is responsible for prosecuting violations of the license law. Question #5 Answer: D Explanation: All three of these actions may be appropriate where an agent has committed misrepresentation. Question #6 Answer: D Explanation: Advance fees may be paid by the seller in advance for unusual marketing and advertising expenses. These funds should be held in a trust account.
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

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.

Page1 / 4

Chapter 16 Quiz Sample Solutions - 1 Answer Key 1. 2. 3. 4....

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online