Unit 4 Quiz Attempt #2

What is a fiduciary?

In a relationship between a broker and seller, what type of agency is being utilized?

Of the following statements, which is true?

A broker lists a man’s home for $275,000. Later, a woman comes into the office and ask for information about homes selling between $200,000 and $250,000, but refuses representation by the broker’s company at this time. Based on this information, which statement is TRUE?

A broker may represent both the seller and buyer in a dual agency if

Designated agency is most likely to occur when

Which of the following can terminate an agency?

Which of the following is the agent’s responsibility to keep the principal informed of all the facts that might change a transaction?

An agent is a _______ to a client in an agency relationship.

Once the broker has completed the task they were hired for, what occurs?

Which of the following is the best way to express agency?

Which of the following is NOT one of the kinds of laws that dictate agency relationships and the duties an agent owes to their client?

Another name for a listing agreement is:

The agency relationship is defined by:

The agreement between a principal and an agent:

How do purchase and sales agreements interact with the process of “due diligence”?

Which type of agent is/are recognized in Georgia? I. Undisclosed dual agency. II. Fiduciary agency. III.Transaction brokerage. IV. Designated agency.

Which of the following agreements must be in writing?

Under an exclusive-agency listing broker would be entitled to a commission EXCEPT:

If a contract is defined as when the intent of the parties is stated in the contract itself; moreover, the intent was verbally stated. What type of Contract is this?

Define a ministerial act, within the state of Georgia?

Which of the following is a person interested in real property?

In a sales contract, a normal contingency would be that the

A property that has been the site of an event such as a suicide, murder, or other undesirable event is known as a:

A couple accompanies a property inspector during an inspection of a house on which they have a contract. The inspector points to a six-inch crack at the corner of a dining room window. What type of defect is the crack?

Read and analyze the following situation: A woman tells her neighbor, a real estate broker, that she is thinking about selling her home. The broker contacts several prospective buyers to whom she has shown her firm’s listings in the past month. One of the buyers makes an attractive offer on the woman’s home without even seeing the property. The broker goes to the woman’s house and presents the offer, which the homeowner accepts. What is the agency relationship between the homeowner and the broker?

The broker commits _____ by selling a home after only considering the seller’s statement that insists they have city water system in their rural home, which turns out to be a false statement.

A leak is found during a property inspection. What should the listing broker do?

In Georgia, a written agency relationship is made:

If a broker is acting for both the landlord and the tenant in the same transaction, this is considered: