BARNEY FLETCHER POST LICENSE COURSE EXAM | ALL QUESTIONS AND CORRECT ANSWERS | VERIFIED, Exams of Real Estate Management

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BARNEY FLETCHER POST LICENSE COURSE

EXAM | ALL QUESTIONS AND CORRECT

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GRADED A+ | LATEST VERSION 2025

A young couple comes into a Georgia real estate brokerage office and tells an agent that they are looking for a home in a particular price range. Both spouses are 25 years old. The agent who greeted them at the door tells them that the firm normally doesn't work with people of their age group, but in this case the agent will make an exception. This scenario is an example of: Select one: a. Overt evidence of disparate treatment; b. Comparative evidence of disparate treatment; c. Evidence of disparate impact; d. Both A and B above. ---------CORRECT ANSWER-----------------Overt evidence of disparate treatment; Which of the following protected classes were added in the Fair Housing Amendments Act of 1988? Select one: a. Disability; b. Familial status; c. Both of the above; d. None of the above. ---------CORRECT ANSWER-----------------c. Both of the above; Larry Licensee runs an ad for one of his listings. The ad contains the phrase "nearby St. Andrew Roman Catholic Church." This would be considered: Select one: a. Acceptable advertising if true; b. A violation of the separation of church and state;

c. A violation of the Civil Rights Act of 1866; d. The use of a "trigger term" under the Fair Housing Act of 1968. --------- CORRECT ANSWER-----------------d. The use of a "trigger term" under the Fair Housing Act of 1968. When HUD sends a complaint to a respondent, that respondent has how many days to submit an answer to the complaint? Select one: a. 5 days; b. 10 days; c. 15 days; d. 30 days; ---------CORRECT ANSWER-----------------b. 10 days; If a seller is held liable for the actions of a real estate licensee representing that seller, that would be an example of: Select one: a. Vicarious liability; b. Indirect liability; c. Subsidiary liability; d. Employment liability. ---------CORRECT ANSWER-----------------a. Vicarious liability; What is the next step if a lawsuit shows conclusive evidence that a particular policy of a lender or municipal government has had a disparate impact on a protected class? Select one: a. The judge then determines the monetary damages to be paid to the plaintiffs. b. The case is then referred to HUD or the DOJ for criminal prosecution; c. The plaintiff will then have to show that the policy is illegal; d. The defendant will then have to show that the policy serves some business necessity ---------CORRECT ANSWER-----------------d. The defendant will then have to show that the policy serves some business necessity

A disabled tenant makes a request for a reasonable accommodation which the property owner believes to be unreasonable. What further obligation does the owner have to the tenant at that point? Select one: a. To investigate the possibility of a different accommodation that would achieve the same objective but create less burden for the property owner; b. To submit to mediation; c. To submit the request to a court for further consideration; d. None whatsoever. Feedback ---------CORRECT ANSWER-----------------a. To investigate the possibility of a different accommodation that would achieve the same objective but create less burden for the property owner; In today's economy, which of the following factors have most frequently been involved in fair housing complaints against insurance companies? Select one: a. Insurance companies have denied coverage or charged higher premiums to property owners who accept housing choice vouchers; b. Connecticut law which requires property owners to accept housing choice vouchers; c. Both of the above; d. None of the above. ---------CORRECT ANSWER-----------------c. Both of the above; Which of the following words or phrases in an advertisement would be considered a violation of the Fair Housing Act? Select one: a. Walking distance to public transit; b. Exclusive neighborhood; c. Desirable neighborhood; d. Mother-in-law suite. ---------CORRECT ANSWER-----------------b. Exclusive neighborhood;

In 1968 the Supreme court ruled in the Jones vs. Mayer Co. case. The courts' decision upheld the law which provides protection on the basis of: Select one: a. Sexual discrimination; b. Racial discrimination; c. Discrimination on the basis of national origin d. Religious discrimination ---------CORRECT ANSWER-----------------b. Racial discrimination; Which of the following phrases in a rental advertisement would be deemed discriminatory against the disabled? Select one: a. Attractive independent living; b. Walking distance to shopping; c. Accessible for the disabled; d. None of the above. ---------CORRECT ANSWER-----------------a. Attractive independent living Adeline is selling her own home as a For Sale By Owner (FSBO). On Sunday, a full price offer is made by an Asian couple. Adeline refuses the offer made by the couple. On Monday, Adeline accepts an offer, $ below the asking price from a Caucasian family. Has Adeline violated any laws and if so which one? Select one: a. There is no violation because homeowners selling their own property are exempt from Federal Fair Housing laws; b. Adeline has violated the Federal Fair Housing Act of 1968; c. Adeline has violated the Civil Rights Act of 1866; d. Adeline has violated the state license laws. ---------CORRECT ANSWER- ----------------c. Adeline has violated the Civil Rights Act of 1866;

The 1988 Amendment to the Federal Fair Housing Act, Title VIII, declared it unlawful to discriminate: Select one: a. Against households with children under 18 years of age; b. On the basis of age; c. Because of sexual orientation; d. On the basis of the sex of the buyer or renter ---------CORRECT ANSWER-----------------a. Against households with children under 18 years of age; According to the State Building Code Occupancy Standards, if a couple had triplets, the minimum square footage of a bedroom for the triplets would be: Select one: a. 70 square feet; b. 120 square feet; c. 150 square feet; d. 210 square feet. ---------CORRECT ANSWER-----------------c. 150 square feet; The Fair Housing Act is part of what larger law? Select one: a. The Civil Rights Act of 1964; b. The Civil Rights Act of 1866; c. The Civil Rights Act of 1968; d. The Civil Rights Act of 1974. ---------CORRECT ANSWER-----------------c. The Civil Rights Act of 1968; An apartment complex owner has a rule regarding the use of the pool which states "Children must leave the pool by 6:30 pm and must be supervised by a resident relative at all times when using the pool." Which of the following statements is correct about whether this policy would constitute discrimination on the basis of familial status? Select one:

a. Since safety is a valid concern, this policy would be permissible. b. This policy would be a violation, solely because of the requirement that the supervising adult must be a relative; c. This policy would be a violation, solely because of the time restriction; d. This policy would be a violation because of both the time restriction and the requirement that the supervising adult must be a relative. Feedback ---------CORRECT ANSWER-----------------his policy would be a violation because of both the time restriction and the requirement that the supervising adult must be a relative. The law that states that it is illegal to refuse to sign a contract because the other party is not a Caucasian is: Select one: a. The Civil Rights Act of 1866; b. The Fair Housing Act; c. The Fair Housing Amendments Act of 1988; d. The Gramm-Leach-Bliley Act. ---------CORRECT ANSWER----------------- a. The Civil Rights Act of 1866; Which of the following property owners would be exempt from the prohibition against discrimination in the Civil Rights Act of 1866? Select one: a. The owner of a single-family residence who owns 3 or less such residences and does not use a licensed real estate agent; b. A religious organization that gives housing preferences to its members; c. Both of these choices; d. None of these choices. ---------CORRECT ANSWER-----------------d. None of these choices. What is the recommended practice for a licensee to follow when asked about the local school districts? Select one: a. Act as a resource rather than an advisor; b. Give an honest opinion about each school district;

c. Give no information about school districts; d. Recommend the best school district in the area. ---------CORRECT ANSWER-----------------a. Act as a resource rather than an advisor; In today's economy, what is the most common type of discrimination complaint filed against municipalities? Select one: a. Restrictive zoning that attempts to exclude African-American people from moving into the city; b. Unreasonable building codes; c. Unreasonable occupancy limits; d. Restrictions against group homes for the disabled in residential neighborhoods. ---------CORRECT ANSWER-----------------Restrictions against group homes for the disabled in residential neighborhoods. Sally owned a rental home which she has never occupied. Under the federal Fair Housing Act, under what circumstance might she be able to sell this rental property and be exempt from the Fair Housing Act? Select one: a. As long as she uses the services of a real estate licensee; b. As long as she discloses the exemption from the Fair Housing Act in any advertisement; c. Under no circumstances; d. As long as she does not sell more than one such property in any two- year period. ---------CORRECT ANSWER-----------------d. As long as she does not sell more than one such property in any two-year period. What determines whether a person is a member of the familial status protected class? Select one: a. Whether a couple is married; b. Whether a person has (or will soon have) custody of a child under the age of 18; c. Whether the household includes at least three people;

d. All of the above. ---------CORRECT ANSWER-----------------b. Whether a person has (or will soon have) custody of a child under the age of 18; In what circumstance is the owner required to pay any costs associated with a reasonable accommodation? Select one: a. In no cases; b. In all cases; c. Only if the owner receives operating subsidies from the government, such as Section 8 vouchers; d. Only if the property was built after 1991. ---------CORRECT ANSWER----- ------------b. In all cases; Which of the following statements is/are true regarding the addition of sexual orientation and the gender identity as members of a protected class? Select one: a. It is based on a Supreme Court decision and a Presidential Executive Order; b. It is based on the protected class of sex; c. Both of the above; d. None of the above. ---------CORRECT ANSWER-----------------c. Both of the above; A fair housing complaint on the basis of excluding those with a record of criminal conviction may be based on allegations of: Select one: a. Disparate impact; b. Disparate treatment; c. Either of the above; d. None of the above. ---------CORRECT ANSWER-----------------c. Either of the above;

A lawsuit has been filed alleging discrimination in housing against a person based on a disability. The defendant has argued that the plaintiff is not disabled under the definition of a disability in the Fair Housing Act. The court considered this argument and issued an order stating that the individual is indeed disabled under the definition of a disability in the Act. This court order is an example of: Select one: a. Injunctive relief; b. Punitive relief; c. Consequential relief; d. Declaratory relief. ---------CORRECT ANSWER-----------------d. Declaratory relief. Which of the following choices would be an example of a member of the "familial status" protected class under the Fair Housing Amendments Act? Select one: a. Any married couple; b. A single mother with a 19-year old child; c. A married couple with two grown children; d. A pregnant woman. ---------CORRECT ANSWER-----------------d. A pregnant woman. If a landlord or property manager treats Caucasian tenants better than Latino tenants, that would be an example of: Select one: a. Overt evidence of disparate treatment; b. Comparative evidence of disparate treatment; c. Evidence of disparate impact; d. Both A and B above. ---------CORRECT ANSWER-----------------b. Comparative evidence of disparate treatment;

One of the recommended fair housing practices is that real estate brokerage firms should review and evaluate the location of homes shown and sold. What is the fair housing purpose for doing this? Select one: a. To determine if steering is going on; b. To comply with the requirement to report this data to the federal government; c. Both of the above; d. None of the above. Feedback ---------CORRECT ANSWER-----------------a. To determine if steering is going on; Information gathered because of the Home Mortgage Disclosure Act would most likely be used for which type of discrimination lawsuit? Select one: a. Overt evidence of disparate treatment; b. Comparative evidence of the disparate treatment; c. Either of the above; d. Evidence of disparate impact. Feedback ---------CORRECT ANSWER-----------------d. Evidence of disparate impact. What is the biggest difference between a lawsuit regarding a disparate impact lawsuit for discrimination and a disparate treatment lawsuit? Select one: a. The plaintiff in a disparate impact case does not have to prove a discriminatory intent; b. The plaintiff in a disparate treatment case does not have to prove a discriminatory intent; c. Disparate treatment cases are generally more complicated than disparate impact cases; d. Disparate impact cases are easier to win than disparate treatment cases. ---------CORRECT ANSWER-----------------a. The plaintiff in a disparate impact case does not have to prove a discriminatory intent;

The concept of "preying on the powerless" is seen most vividly in: Select one: a. Fraud for profit; b. Subprime loans; c. Property flipping; d. Silent seconds. ---------CORRECT ANSWER-----------------b. Subprime loans; An unethical loan originator directs his marketing efforts at finding poor or elderly customers who are not sophisticated. This would be an example of: Select one: a. Redlining; b. Capping; c. Steering; d. Targeting. Feedback ---------CORRECT ANSWER-----------------d. Targeting. One of the most common forms of Mortgage Fraud in the US. is equity skimming. It includes all of the following, EXCEPT: Select one: a. Homeowners who are behind on payments being targeted by criminals; b. Homeowners facing foreclosure that need to sell their homes quickly c. A promise made by skimmer that will take over payments, but never pays; d. Homeowners buying less house than they can afford ---------CORRECT ANSWER-----------------Equity skimming involves getting a homeowner to sign over his or her current home, not buying a new home. The correct answer is: Homeowners buying less house than they can afford _____ is the process of attempting to make money earned illegally appear to be legitimate. Select one: a. Money laundering;

b. Misrepresentation; c. Duress; d. Flipping. ---------CORRECT ANSWER-----------------a. Money laundering; If a lender advertised a loan with an exceptionally low teaser rate without disclosing that the rate only applies for the first month of the loan, the advertisement: Select one: a. Would be legal, but unethical as bait and switch advertising; b. Would be both illegal and unethical as bait and switch advertising; c. Would be legal, but unethical; d. Would be ethical, but not legal. ---------CORRECT ANSWER----------------- The correct answer is: Would be both illegal and unethical as bait and switch advertising; What is the primary method by which the SAFE Act promotes ethical mortgage lending and origination practices? Select one: a. By requiring a license, which can be suspended or revoked; b. By giving clear ethical guidancel c. By specifying underwriting standards; d. By requiring HUD-approved loan counseling. ---------CORRECT ANSWER-----------------a. By requiring a license, which can be suspended or revoked; Which statement is FALSE regarding duress? Duress: Select one: a. Can take any number of forms; b. May force a person to do something against his or her will; c. Duress is caused by a party who benefits under the contract; d. Covers situations of forcing someone's assent by legal means --------- CORRECT ANSWER-----------------d. Covers situations of forcing someone's assent by legal means

Which of the following statements is the most accurate statement regarding the difference between ethical standards and legal standards: Select one: a. Ethical standards guide us on what we should (or should not) do; b. Legal standards guide us on what we should (or should not) do; c. There is no relationship between legal standards and ethical standards; d. Legal standards and ethical standards are the same. ---------CORRECT ANSWER-----------------a. Ethical standards guide us on what we should (or should not) do; Each of the following items on a loan application is a possible red flag for mortgage fraud, EXCEPT: Select one: a. The employer's address is a PO Box; b. The accumulation of assets seems excessive in relation to income; c. Same telephone number for the borrower and the employer; d. A family with small children is purchasing a larger house. --------- CORRECT ANSWER-----------------A young family purchasing a larger house would not be a red flag. If the house being purchased seems to small for the number of occupants, that might be a red flag. The correct answer is: A family with small children is purchasing a larger house. Which of the following rules is NOT used by consumers to reduce the chances of identity fraud? Select one: a. Know what is in the credit file; b. Monitor credit file so notification occurs when credit inquiry made; c. Sign all new credit cards upon receipt; d. Shredding is not needed for records of account details. --------- CORRECT ANSWER-----------------The false statement is that shredding is not needed. The correct answer is: Shredding is not needed for records of account details.

Which statement best describes duress? Select one: a. Duress is when a person is asked to do something willingly; b. If duress was caused by party gaining from contract, court will not recognize it; c. Duress covers situations that involve forcing someone's assent by illegal threats; d. Duress includes falsifying a required document. ---------CORRECT ANSWER-----------------c. Duress covers situations that involve forcing someone's assent by illegal threats; If a property has been sold multiple times in the past several years, what type of mortgage fraud might that indicate: Select one: a. Fraud for property; b. Equity skimming; c. Property flipping; d. Cash back on closing. ---------CORRECT ANSWER-----------------c. Property flipping; Mr. Jones owns a house worth $150,000, on which he owes $100,000. He also owes an additional $150,000 to various creditors, including credit card companies and other unsecured lines of credit. He sells the home to his daughter for $110,000 and shortly thereafter files for bankruptcy. The bankruptcy court is likely to view this sale to his daughter as: Select one: a. A prudent business move; b. A fraudulent transfer; c. An unethical, but not illegal transaction; d. None of these choices. ---------CORRECT ANSWER-----------------Since the property was sold for less than fair market value shortly before the bankruptcy filing, it will most likely be viewed as a fraudulent transfer. The fact that the sale was to a family member reinforces this likelihood.

The correct answer is: A fraudulent transfer; Which of the following statements is NOT true of mortgage fraud-for- property? Select one: a. The applicant might overstate his or her income; b. The applicant often has no intention of ever repaying the loan; c. The transaction might involve a "silent second;" d. The applicant often makes significant misrepresentations on the application. ---------CORRECT ANSWER-----------------In a fraud-for-property scheme, the applicant usually fully intends to repay the loan. The applicant is lying in order to get a loan for which the applicant would not otherwise qualify. They typically intend to live in the property and intend to make the required payments. The correct answer is: The transaction might involve a "silent second;" The "ability to repay" test of the Dodd-Frank Act was designed to address: Select one: a. The foreclosure crisis; b. Abuses in the subprime mortgage market; c. High interest rates; d. Excess competition. ---------CORRECT ANSWER-----------------b. Abuses in the subprime mortgage market; Charlie is paid $10,000 to pretend to be the purchaser of a home. He fills out the loan application and attends the closing, but the property is actually owned by someone else. Charlie has acted as a: Select one: a. Straw buyer; b. Property flipper; c. Holder of a throw-away second; d. Intermediary buyer. ---------CORRECT ANSWER-----------------a. Straw buyer;

The practice of purchasing a home not from any rational economic analysis but from purely speculative expectations regarding future appreciation relates to which of the following theories: Select one: a. Greater Fool Theory; b. Hot Potato Theory; c. Constant Appreciation Theory; d. Rapid Appreciation Theory; Feedback ---------CORRECT ANSWER-----------------The greater fool theory is expressed by the idea that there will always be some fool willing to pay an even higher price later. It is based on a speculative fever rather than a rational economic analysis. The correct answer is: Greater Fool Theory; The Georgia Residential Mortgage Fraud Act applies to what type of residential properties? Select one: a. Single-family residences only; b. 1-2 unit residential properties only; c. 1-3 unit residential properties only; d. 1-4 unit residential properties. ---------CORRECT ANSWER----------------- d. 1-4 unit residential properties. Within the first five years around ___% of agents leave the real estate business ---------CORRECT ANSWER----------------- 80 - 90% For buyers what are the five steps of the pre-qualification process --------- CORRECT ANSWER-----------------1. Urgency

2. Motivation
3. Financial Ability
4. Wants and Needs
5. Agency

For sellers what are the five steps to the first appointment --------- CORRECT ANSWER-----------------1. Urgency

2. Motivation
3. Concerns
4. Expectations
5. Hesitations A person who may be willing to engage in a real estate transaction --------- CORRECT ANSWER-----------------Prospect A person who is willing to perhaps have a conversation but has no real desire to engage in a real estate transactions ---------CORRECT ANSWER- ----------------Suspect In determining whether a person is a suspect or a prospect we must consider ---------CORRECT ANSWER-----------------Urgency and motivation When setting goals, its important they be ---------CORRECT ANSWER------- ----------Specific Measurable Attainable Realistic Timely Most common type of target market is a particular neighborhood of homes - --------CORRECT ANSWER-----------------Farming

A ______ analysis can be helpful in analyzing your strengths and weaknesses, which can sometimes help you pick the target market that is best for you ---------CORRECT ANSWER-----------------SWOT The primary objective of any type of real estate prospecting is to --------- CORRECT ANSWER-----------------Generate an appointment The ratio that is computed by dividing the number of homes sold in a year by the total number of homes in the farms ---------CORRECT ANSWER------ -----------Turnover ratio A method of prospecting that will involve the telephone, but only as part of a mix of different types of contacts ---------CORRECT ANSWER----------------

• Circle prospecting A ______ agent has more control than a _____ agent ---------CORRECT ANSWER-----------------Listing/selling This involves only one appointment with the prospective sellers. Licensee makes the presentation, show the recommended price through CMA and try to get sellers to sign the listing contract ---------CORRECT ANSWER----- ------------ 1 - step listing presentation What is the best way to establish a personal brand in real estate --------- CORRECT ANSWER-----------------To develop a good reputation

Which of the following choices is the most common way buyers find a house they purchased ---------CORRECT ANSWER-----------------Internet What is the most important part of your "brand" in your real estate career --- ------CORRECT ANSWER-----------------Your reputation When a real estate licensee focuses his or her prospecting efforts on a particular neighborhood or type of buyer is the licensee's ---------CORRECT ANSWER-----------------Target market As a real estate agent your primary product is ---------CORRECT ANSWER- ----------------Your contacts When the number of listings by a particular firm is divided by the total number of listings in that neighborhood, the result is the ---------CORRECT ANSWER-----------------Market share Which of the following is the best way to ask for a referral --------- CORRECT ANSWER-----------------Who do you know who might be looking to buy or sell a house The process of ensuring that the interior and exterior of a home are as attractive as possible is known as ---------CORRECT ANSWER----------------- Staging

The types of media used to generate new business is known as the --------- CORRECT ANSWER-----------------Promotional mix When doing the initial tour of a house before making a listing presentation, one goal should be to ---------CORRECT ANSWER-----------------Get the sellers to view the property from the standpoint of a typical buyers rather than a seller A buyer has made an offer on a seller's house. The offer gives the buyer 10 days to have a licensed home inspection of the property and to cancel the offer if the inspection reveals significant necessary repairs unknown to the buyer. This is an example of ---------CORRECT ANSWER----------------- Contingency clause Which of the following types of sales of a personal residence would require a third-party approval before the sale could be closed ---------CORRECT ANSWER-----------------A bankruptcy, a divorce, or a short sale What is the most important factor in qualifying a prospective buyer --------- CORRECT ANSWER-----------------Whether the prospect is financially qualified to purchase a home In deterring whether or not to issue a pre-approval letter, the lender would consider ---------CORRECT ANSWER-----------------Principal, interest, property taxes, and insurance

What is the purpose of using an assumptive close ---------CORRECT ANSWER-----------------To make it easier for the buyer to say yes If the buyer and seller agreed that the buyer would purchase the patio furniture as part of the contract, this would appear in which section of the Purchase and Sale agreement ---------CORRECT ANSWER----------------- Special Stipulations A loan point is ---------CORRECT ANSWER-----------------One percent of the loan amount Assuming the buyers ride in your car, the time spent in the car can be put in good use by ---------CORRECT ANSWER-----------------Discussing the positive features of the neighborhood what is the biggest difference between traditional telemarketing and circle prospecting? ---------CORRECT ANSWER-----------------circle prospecting requires. follow-up under what circumstance should a real estate licensee use a 1-step listing presentation ---------CORRECT ANSWER-----------------if the homeowner insists on it what is the most common reason why new licensees hate making cold calls on the telephone ---------CORRECT ANSWER-----------------fear of rejection

which of the following contact methods is most likely to get people to remember you ---------CORRECT ANSWER-----------------send a handwritten thank you note after a phone conversation when answering a phone call, which of the following choices would be a key objective ---------CORRECT ANSWER-----------------to not only give information, but to get information from the caller as well what type of software is designed specifically to avoid "one and done" prospecting ---------CORRECT ANSWER-----------------customer relationship management (CRM) when trying to get a listing from a seller whose previous listing was expired, which of the following choices are recommended to solicit a listing contract from that seller ---------CORRECT ANSWER-----------------provide a free service, such as analysis of current market conditions situations where on party represents another party ---------CORRECT ANSWER-----------------law of agency the laws regarding agency come from what three sources in the US --------- CORRECT ANSWER-----------------common law, statutory law, and administrative or regulatory law stems from British laws which applied to the colonies before the Revolutionary War (precedents) ---------CORRECT ANSWER----------------- Common law

laws passed by the state legislature or the Congress and signed by the governor. ---------CORRECT ANSWER-----------------statutory laws refers to the rules and regulations adopted by various regulatory bodies ---- -----CORRECT ANSWER-----------------Administrative or regulatory law the person who hires the agent to represent them in a transaction --------- CORRECT ANSWER-----------------principal the person hired to represent the principal ---------CORRECT ANSWER------ -----------agent in real estate practice, the ______ is considered the agent --------- CORRECT ANSWER-----------------broker represents the principal in all aspects of the principal's dealings, --------- CORRECT ANSWER-----------------universal agent less authority than a universal agent but may represent the principal in an ongoing series of continuous events, usually in one general field of endeavor. In real estate, property managers ---------CORRECT ANSWER--- --------------general agent

represents the principal in one specific transaction. ---------CORRECT ANSWER-----------------special agent acts as agent for an agent and has the same duties and obligations as the agent ---------CORRECT ANSWER-----------------subagent a position of trust and must put the interest of his client (Steve) above those of all others, including and especially those of himself. ---------CORRECT ANSWER-----------------fiduciary obligations This means that the agent is required to act in the best interest of the client and must not put anyone else's interests ahead of those of the client. --------

• CORRECT ANSWER-----------------loyalty Agents are only required to follow the ________instructions of their client. - --------CORRECT ANSWER-----------------lawful In simple terms, this means that the licensee must perform the duties of the agent as would a competent real estate professional and without any negligence. ---------CORRECT ANSWER-----------------reasonable care and diligence If you are showing property you are listing and tell a prospective buyer that "...this property is the best for you," the relationship created could be interpreted as: ---------CORRECT ANSWER-----------------implied agency

Under common law, a broker who has a listing is in a position of trust and must put his or her interests above those of all others. This describes what type of obligation? ---------CORRECT ANSWER-----------------fiduciary What is the greatest risk in a case where a buyer's agent submits offers on several homes simultaneously? ---------CORRECT ANSWER-----------------. The buyer could be contractually obligated to buy more than one house and could face damages if defaulting on any of the contracts. The duty of an agent to follow the instructions of the client applies to each of the following instructions, EXCEPT: ---------CORRECT ANSWER----------- ------. "Do not reveal to any buyers that my roof leaks." The state law that specifies which types of contracts must be in writing to be enforceable is called the: ---------CORRECT ANSWER----------------- Statute of Frauds. What offers must a listing broker present to a seller? ---------CORRECT ANSWER-----------------All offers received prior to closing. Which of the following actions by a licensee who is working with a consumer as a non-client could cause the creation of an agency by implication? a. Filling in the blanks on a pre-printed offer to purchase real property. b. Showing homes to a consumer which meet the consumer's specified needs and desires. c. Making arrangements for a home inspection to take place.