Agency Basics Quiz

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Question 1 of 11

1. Question
A fiduciary is
- An agent with the full trust of their client
- An agent who trusts their customer
- An agent with a lot of clients
- A person who is not represented by any agent
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Question 2 of 11

2. Question
What type of agency is the relationship between a broker and a seller?
- Universal
- Special
- Express
- Dual
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Question 3 of 11

3. Question
Which of the following is TRUE?
- Agents are required to give proper care to their client
- Agents are required to give proper diligence to their client
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Question 4 of 11

4. Question
A broker lists a man
- The client and agent should establish a verbal contract
- An agent's duties and compensation are understood, so there is no need for a contract
- Both Parties should agree to a written contract for the broker to have a client.
- One party agrees to help the other but both parties don't agree
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Question 5 of 11

5. Question
In a dual agency, a broker may represent both the seller and buyer if
- At least one party is agrees to it.
- The buyer and seller are related.
- Both parties consent in writing.
- Both parties have legal representation
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Question 6 of 11

6. Question
When is designated agency most likely to occur?
- There is a customer buyer and a client seller.
- The buyer and seller are represented by the same company
- Both the buyer and seller are customers.
- The seller designates a specific agent to work for her.
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Question 7 of 11

7. Question
Which is a reason to terminate an agency?
- The client is being rude
- The client has died
- The house the client wanted is further away than the agent expected
- The agent's birthday is approaching and they do not want to work
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Question 8 of 11

8. Question
The duty of __________ is the real estate agent
- Disclosure
- Confidentiality
- Obedience
- Care
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Question 9 of 11

9. Question
A relationship where a broker helps both a buyer and seller with paperwork but does not represent either party is a
- Designated agency
- Dual Agency
- Non-agency
- Transactional brokerage
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Question 10 of 11

10. Question
The relationship of agent to client in an agency relationship is that of
- A fiduciary
- A power of attorney
- A subagent
- A trustee
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Question 11 of 11

11. Question
A seller and listing broker typically have a____ relationship.
- Special
- General
- Universal
- Implied
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