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Unformatted text preview: Legal Aspects of Real Estate Lesson 6 Cumulative Quiz 1. An agency relationship exists between a broker and a seller. In this context, the buyer is known as a/an: C. third party 2. An old listing agreement contains a clause stating that any selling agent who finds a buyer through a multiple listing service automatically becomes a subagent of the seller. This clause would be known as a/an: D. unilateral offer of subagency 3. A broker delegates authority to another broker to assist in fulfilling his agency duties. The other broker would be considered a/an: D. subagent 4. Which of the following statements is true? B. A seller agency relationship is always created in the listing agreement; a buyer agency relationship may be created through a written representation agreement 5. Which is the most common method of compensating a buyer's agent? B. Commission split 6. Which of the following statements about dual agency is false? A. The dual agent may not disclose confidential information from one party to the other B. The dual agent may reveal to the seller the maximum the buyer is willing to pay C. The dual agent must have the written consent of both partiesC....
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- Spring '11