Reference no: EM132268690

1) "Reasonable care and skill" in real estate agency duty refers to

professional standards a reasonable person would find adequate.

professional standards commonly maintained by other agents in an area.

the level of service required of a licensee in any profession.

the maximum level of competence a client can expect from an agent.

2) A broker has an agency relationship with a client. An affiliate broker is working as that broker's agent. This kind of agency is called

subagency.

special agency.

double agency.

dual agency.

3) In practice, to be a seller's agent, you

must also be a facilitator.

must also be a designated agent.

must have a signed agency agreement.

must have a written or verbal listing agreement.

4) If you are a buyer's agent contacting a FSBO, which of the following is true?

You must disclose your agency status upon first substantive contact.

You must disclose your agency status on first contact.

You must disclose the duties you owe the FSBO prospect prior to entering a contract.

You may not disclose that you represent a buyer

5) As a facilitator, you must disclose which of the following to all parties in the transaction?

Your dual agency status

Confidential information

Your facilitator status and sources of compensation

There is no single item that must be disclosed to all parties

6) As a buyer's agent, which of the following is true?

Your company and broker are the buyer's agent unless there is a designated agent appointed to represent the seller.

You may operate on the basis of a written or verbal agreement.

You must disclose all adverse facts to your client and your client only.

You may not work as a designated agent in the transaction.