Section 9 Unit 2 Exam

A  It prohibits the seller from assigning the listing agreement to anyone else.

B  It prohibits the licensee from assigning the listing agreement to the licensee’s broker.

C  It prohibits the seller from assigning the listing agreement to another licensee.

D  It states that the listing agreement is binding on the seller’s heirs.

A  Any real estate contract must be in writing to be enforceable.

B  Signatures are required to list the property on the MLS.

C  Every blank needs to be filled in on a form contract.

D  Your broker may be fined for approving a listing agreement that is not signed.

A  Net listings are illegal.

B  The amount or rate of the commission is fixed by law.

C  Net listings are required by law.

D  The amount or rate of the commission is not fixed by law.

A  Equal housing opportunity

B  Illegal practices

C  Anti-discrimination disclosure

D  Fair housing rules

A  Once the listing term expires, he may relist it at the new price

B  Ask his agent to change it on the MLS

C  He cannot change it, but may accept a lower offer

D  Complete a Modification of Terms form before changing it on the MLS

A  Sellers must disclose all material facts about the property.

B  Sellers must own the property with a clear title.

C  Sellers must disclose financial issues that may affect the sale, such as delinquency in payments, bankruptcy, or receipt of a notice of default.

D  Sellers will represent the brokerage and need to behave with professionalism.

A  It is terminated.

B  It continues and is binding on Jeremy’s heirs.

C  It gets assigned to Jeremy’s attorney.

D  It becomes void.

A  A licensee must use standardized language when writing an addendum.

B  A licensee may not alter an existing form.

C  A licensee has legal authority to draft any real estate contract or addendum.

D  A licensee’s role is limited to filling in the blanks.