quiz 7 - Legal Aspects of Real Estate Lesson 7 Cumulative...

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Legal Aspects of Real Estate Lesson 7 Cumulative Quiz 1. Which of the following is a requirement of the agency disclosure process? A. Act in accordance with the disclosure made B. Obtain agency confirmation statement C. Provide parties with agency disclosure form D. All of the above D 2. When must a selling agent give a copy of the agency disclosure form to the buyer? A. Before closing B. Before the offer is presented to the seller C. Before the listing agreement is signed D. Before the offer to purchase is signed D 3. A person who has been authorized by another person to represent that person in a transaction is a/an: A. agent B. principal C. fiduciary D. Both A and C D 4. According to state law, which of the following is a duty owed to all parties, rather than only to a principal? A. Disclosure of material facts B. Integrity C. Loyalty D. Utmost care A 5. In which of these instances does an agent's duty of obedience compel her to follow the principal's instructions? A. A seller asks that the agent not disclose a latent defect B. A seller insists that the property must be listed for twice its market value C. A seller refuses to allow a property to be shown to non-white buyers D. All of the above B 6. The confidentiality requirement does not apply: A. after an agency relationship has ended B. during a dual agency C. if the principal has authorized a specific disclosure D. while negotiating a sales price C
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7. An agent finds a buyer for the property she has listed. The buyer is the agent's cousin.
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This note was uploaded on 01/29/2012 for the course REAL 12 taught by Professor Haynes during the Spring '11 term at West Valley.

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quiz 7 - Legal Aspects of Real Estate Lesson 7 Cumulative...

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