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B-2 Arizona Real Estate - Self Study & National Exam Questions

Terms in this set (16)

Which of the following would create an agency relationship?
Listing agreement
How much would a licensed real estate sales person have to pay into the real estate recovery fund at the next renewal when the reserve falls below $600,000?
$10
A listing would most likely show the?
Amount of property taxes
A licensed real estate sales person in which type of agent to his or her broker?
General
What a broker represents the buyer only, what would be the relationship between the buyer broker and seller?
Customer
In a listing a property for sale, which item is not necessary for a valid exclusive listing?
Legal description
When he broker represents the buyer only in a transaction, which of the following duties would the buyer broker on the seller?
Honesty
It is said that agency law is comprised of common law. This means?
It is established by tradition and court decisions
All of the following would be the responsibility of a real estate agent except?
Financing
Which of the following statements are not true regarding the real estate recovery fund?
The claimant must be a resident of Arizona
All of the following have fiduciary responsibilities except?
Lender
In an agency relationship, confidentiality is a part of which of the following?
Loyalty
A buyer asked the real estate agent if the property is located in a good area. The agent is aware that the property located in the highest crime area in the city. The agent tells the buyer of the property is located in a great area. This would be considered?
Negligent misrepresentation
A person having authority under a power of attorney is called?
Attorney-in-fact
The listing agent is given confidential information by the seller. The listing agent then give this information to the selling agent. Which best describes this activity?
It is a breach of fiduciary duty's
An owner knows a broker is showing the owners property to a prospective buyer without authority in what might appear to be an ostensible agency relationship. Unless the owner take steps to stop the unauthorized showing, the owner could be liable for which of the following?
Certain acts of the licensee
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