Chapter 12 Test Questions

3 September 2022
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question
A down payment deposit from a potential buyer must be held in?
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The brokers escrow trust account
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One of the most effective ways that sale persons or brokers can distinguish themselves as a preferred agent in a particular specialization of real estate brokerage is to?
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Obtaining a related industry designation
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All of the following are duties that a broker would have to the seller i a single agency listing contract. EXCEPT?
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Loyalty
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Real estate sales persons can lose their licenses for?
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Commingling escrow money with personal funds
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The state real estate commission is responsible for?
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Establishing education requirements for licenses
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Real estate brokers are paid commissions primarily for?
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Providing a service
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Traditionally, a real estate broker is what type of agent for his or her principal?
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Special agent
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The subagency relationship that traditionally has characterized multiple listings services (MLS) has tended to result in the widespread danger of?
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Unintended dual agency
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How are commission rates that real estate brokers charge determined?
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By agreement between broker and principal
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According to most listing contracts, a broker has earned commission when?
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The broker finds a buyer who is ready, willing, and able to buy on the terms specified in the listing contract