BRRETA Quiz Attempt #2

Quiz Summary

0 of 20 Questions completed

Questions:

You have already completed the quiz before. Hence you can not start it again.

Quiz is loading…

You must sign in or sign up to start the quiz.

You must first complete the following:

Results

Quiz complete. Results are being recorded.

Results

0 of 20 Questions answered correctly

Your time:

You have reached 0 of 0 point(s), (0)

Average score
Your score

Current
Review
Answered
Correct
Incorrect

Question 1 of 20

1. Question
22. Reynolds is acting as a buyer broker for his sister, Marie, who is looking for a house. Since he has a written contract authorizing him to consider her as a client, he is authorized to do all of the following EXCEPT:
- share with her any information he knows about why the seller is selling.
- let the lender she has chosen know that Regina might not be planning to be an owner/occupant.
- write an offer for her signature and present it to the listing agent.
- accept a counter offer on Regina’s behalf while she is out of town.
- Act as the owner
Correct

Incorrect
Question 2 of 20

2. Question
23. Alice has listed a property for an out-of-town investor. Her advertising is producing calls, but a hostile tenant is denying her access for showings. When told of this, the seller replies, “That’s your problem.” Which is true?
- Alice might ask for help from the local police.
- A really motivated buyer might be found who would offer even without seeing the interior.
- Alice should have discovered this problem before she listed the property.
- Alice can renounce her listing since the owner refuses to cooperate.
- A and C are false
Correct

Incorrect
Question 3 of 20

3. Question
24. A statement that exaggerates which a sound person would recognize as untrue is a:
- misrepresentation.
- actual fraud.
- puffing.
- innocent misrepresentation.
- Criminal misconduct
Correct

Incorrect
Question 4 of 20

4. Question
25. If a contract for sale provides for the owner to sell a home in “as is” condition, then:
- caveat emptor applies.
- latent defects must still be disclosed to the purchaser.
- latent defects must still be disclosed to the purchaser.
- the broker must assist the buyer in making a thorough inspection.
- The right answer is not included
Correct

Incorrect
Question 5 of 20

5. Question
26. In the acronym BRRETA, what does BRRETA stand for?
- Broker’s bonding
- Broker-client affiliation
- Agency
- Addendum
- Arbitrary relation
Correct

Incorrect
Question 6 of 20

6. Question
28. Which of the following best explains the noun broker?
- Any individual or entity responsible for breaking down the price of a property
- Relationship terms in which a broker acts for or represents a client by the client’s authority
- Entity required responsible for the security of the property in the process of selling
- Men (not women) holding broker’s licenses.
- Both B and D
Correct

Incorrect
Question 7 of 20

7. Question
29. A brokerage agreement is the following, EXCEPT:
- An agreement between seller and his broker on the selling/closing price of the property
- Documented contract by which the seller or buyer (landlord or tenant) employs the broker
- Contract outlining the terms of broker’s services to the seller
- Contract promising to pay the broker for producing a client ready and willing to sell, buy or rent the property.
- An agreement between seller and buyer on the selling/closing price of the property
Correct

Incorrect
Question 8 of 20

8. Question
32. Following are the broker’s duties to the seller, EXCEPT:
- Set a reasonable price before contacting the client.
- Sell property at the price and terms outlined in the brokerage engagement or at a price and terms acceptable to the seller.
- Present all offers to and from the seller in a timely manner
- Disclose all material facts to the seller of which the broker has actual knowledge.
- Account for all money and property received in a timely manner
Correct

Incorrect
Question 9 of 20

9. Question
33. The seller’s broker must disclose the following regarding the property, EXCEPT:
- Material defects in the property
- Maps showing the boundary lines of governmental jurisdictions
- Facts required by statute or regulation to be disclosed
- Tax maps
- Social security for previous occupant of the property
Correct

Incorrect
Question 10 of 20

10. Question
34. Ministerial acts to the buyer is::
- All the options below
- Provide real estate statistics information on property.
- Act as a scribe in the preparation of real estate contracts and leases
- Identify property for sale, lease or exchange.
- Identify schools, shopping facilities, places of worship and other similar facilities on behalf of any of the parties in a real estate transaction.
Correct

Incorrect
Question 11 of 20

11. Question
35. Which of the following regarding the liability of the broker engaged by a landlord is not true?
- The broker cannot always be held responsible if misinformation is given. Broker's liability is circumstantial
- Brokers should never provide willingly prospective tenants with false information
- The broker will be fined $25,000 in the event of malpracticing the brokerage agreement
- A broker is not liable to a prospective tenant for providing false information, if the broker was not aware that the knowledge was false
- A broker may not be liable for failure to disclose any matters not mentioned in this section of the law
Correct

Incorrect
Question 12 of 20

12. Question
36. One of these is not a characteristic of brokerage agreement
- It outlines the broker's compensation
- It has a definite expiration date
- It fully set forth the broker and the clients’ terms
- All brokerage relationships held by the broker with other clients of his/hers, if any
- Promises the client that property will be sold within a week
Correct

Incorrect
Question 13 of 20

13. Question
</span37. Created when a broker has a client relationship with both parties involved in a transaction is:
- Designated agency
- Presupposition agency
- Dual agency
- Predefine agency
- Agency by agreement
Correct

Incorrect
Question 14 of 20

14. Question
38. A broker who’s not entered brokerage relationship yet but who performs ministerial acts is: >
- BRRETA
- Transaction broker
- Duel Agent
- Designated agent
- Simplified broker
Correct

Incorrect
Question 15 of 20

15. Question
All the following is true of independent contractors EXCEPT:
- They have more freedom than employees
- Employer controls their work hours
- They pay their Social Security income taxes
- They agree with employer on terms of their relationship
- None of the above is wrong
Correct

Incorrect
Question 16 of 20

16. Question
The broker cannot be held liable if what:
- the broker discloses information that is required by law
- the broker fails to disclose information not mentioned under BRETTA
- the broker spreads false information unknowingly
- all of the above
Correct

Incorrect
Question 17 of 20

17. Question
The broker can be held liable if he/she fails to what?
- disclose the source of the information to the buyer/tenant
- Apologizes for the false information
- Both A and B
- Shows that they did not have actual knowledge that the information was false
Correct

Incorrect
Question 18 of 20

18. Question
The broker owes all of the following duties to the landlord except:
- Comply with the requirements under BRRETA, and any applicable statutes and regulations.
- Seek a tenant at the price and terms of the brokerage engagement or at terms acceptable to the landlord.
- Manage the landlord’s property
- Account in a timely manner for all money and property received
Correct

Incorrect
Question 19 of 20

19. Question
The broker owes all of the following duties to the buyer except:
- find properties that the buyer would like that are a little out of their price range
- Disclose to the buyer adverse material facts the broker is aware of
- Account in a timely manner for all money and property received
- Search and find a property at a price and terms outlined in the brokerage agreement.
Correct

Incorrect
Question 20 of 20

20. Question
Who is responsible for the discovery of adverse material facts?
- The broker
- The seller/landlord
- The buyer/tenant
- all of the above
Correct

Incorrect

BRRETA Quiz Attempt #2

Quiz Summary

Information

Results

Results

Categories

1. Question

2. Question

3. Question

4. Question

5. Question

6. Question

7. Question

8. Question

9. Question

10. Question

11. Question

12. Question

13. Question

14. Question

15. Question

16. Question

17. Question

18. Question

19. Question

20. Question