Section 4 Unit 4 Exam

A  Single-license dual agency

B  Seller agency

C  Dual-license dual agency

D  Buyer agency

A  Tim and Tom are both licensees with Acme Realty. Tim is the listing agent on a home where Tom represents the buyer.

B  Kayla is a licensee with ABC Realty and lists a property for seller Devon. Maurice is a salesperson with XYZ Realty Group, and he has a buyer customer who wants to see the property.

C  Rita is a licensee with Hawthorne Realty. She has a client, Dinah, who is selling her condo. Rita thinks Dinah’s house will be perfect for Ruby, a customer.

D  Kermit is represented by Burt, an agent with Street Realty. Today they are seeing Oscar’s house, which has been listed by Oscar’s agent, Ernie, from Energy Realty.

A  Sofia is Luciana’s customer.

B  Luciana is Sofia’s customer.

C  Luciana is Sofia’s fiduciary.

D  Sofia is Luciana’s client.

A  Buyer agency

B  Single-licensee dual agency

C  Seller agency

D  Dual-licensee dual agency

A  An agent appointed by another agent to assist in serving a seller client

B  An agent who handles the listing for a seller

C  Anyone who works for a broker

D  An inexperienced agent

A  Both the seller and the buyer

B  The buyer

C  The listing firm and the buyer

D  The seller

A  An agency relationship is created. The licensee can face disciplinary action if an agency is formed without proper agency disclosures.

B  he licensee is guilty of misrepresentation.

C  Nothing. The person has a real estate license and can perform other duties as needed.

D  The licensee can get in trouble for acting as a dual agent.

A  A finder only owes the duties of confidentiality and loyalty.

B  A finder owes the duties of obedience, loyalty, disclosure, confidentiality, accountability, and reasonable skill and care.

C  A finder only owes the duty of confidentiality.

D  A finder doesn’t owe any fiduciary duties.