Ecology Exam Trivia Questions

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Ecology Quizzes & Trivia

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Questions and Answers
  • 1. 
    A broker has secured a written offer to purchase at the price and terms expected by his client seller. Before the offer is signed and accepted, the seller died. Several steps have to be taken by the broker to save the sale and protect the interest of all parties concerned. Which of the following is inappropriate and unnecessary?
    • A. 

      File notice lis pendens on the subject property to protect his rights as broker.

    • B. 

      Secure a new written authority to sell from the heirs or their legal guardians or attorney in fact if the heirs are all minors.

    • C. 

      Inform the prospective buyer that the registered owner has died.

    • D. 

      Explain to the buyer the salient point of Section 4, rule 74 which be annotated in the title if ever

    • E. 

      All of the above.

  • 2. 
    Three of the four enumerated acts of a broker are considered unethical. Which act is not unethical?
    • A. 

      Encouraging the parties to a sale to indicate a consideration lower than the actual selling price.

    • B. 

      Keeping a special bank account, separate and distinct from his own funds, for all the money

    • C. 

      Disclosing his client confidential person information to a fellow broker in order to facilitate the sale of his client's property.

    • D. 

      Delaying submission of a formal offer he had received from a prospective buyer in title hope of securing of higher offer.

    • E. 

      None of the above.

  • 3. 
    • A. 

      The agency of the broker who offers the listing should be respected until it has expired and the

    • B. 

      The agency of the listing broker should be respected perpetually in all dealings with his

    • C. 

      The agency of the broker who offers the listing should be respected until the owner, without solicitations, offers to list with him.

    • D. 

      The listing should not be passed to a third broker without the knowledge and consent of the listing

  • 4. 
    Which of the following acts of a broker can be considered within the bounds of the code of ethics?
    • A. 

      Encouraging the parties to a sale to indicate a consideration lower that the actual selling price.

    • B. 

      Serving as witness in court proceedings involving a property owned by his client.

    • C. 

      Disclosing his client's confidential personal information to a fellow broker in order to facilitate the sale of his client's property.

    • D. 

      Delaying submission of a formal offer that he had received from a prospective buyer in the hope of securing a higher offer.

  • 5. 
    Broker has secured a written offer to purchase a commercial property at a price of 60million together with a check of thirty percent downpayment. H is certain that the seller will accept to the offer. Before he can present the offer to the seller, he receives unverified information that a planned government infrastucture project will call up a significant portion of the property. Several steps have to be taken by the broker to save in appropriate at the moments.
    • A. 

      Secure detailed information from the proper government agencies as to actual scope of the projects.

    • B. 

      Inform the prospective buyer about the forthcoming government projects and the possible effects it will have on the property.

    • C. 

      Present the offer to the seller to signing and acceptance to ensure the consummation of the sale.

    • D. 

      Inform the seller about the forthcoming government projects and the possible effects it will hve

  • 6. 
    The Golden Rule shall be observe in all dealings and relations of the real estate practitioners, except:
    • A. 

      With clients and fellow practioners.

    • B. 

      The organization to which they belong.

    • C. 

      The general public.

    • D. 

      The general public.

  • 7. 
    A real estate broker who accepts a listing from a client follows several ethical guidelines in his relationship with the client. Which one of the following is not always applicable?
    • A. 

      He should pledge himself with utmost fidelity and good faith to protect and promote the interest of his client.

    • B. 

      He should undertake to prepare an accurate appraisal report on the property subject of the listing, as part of his service to his client.

    • C. 

      He should endeavor to be well informed of current legislation, policies and programs of the

    • D. 

      He should endeavor to make his cleint and custo mer conclude a fair contract advantageous to both.

  • 8. 
    The real estate practitioner, in relation to the government, is expected to perform as such except:
    • A. 

      Secure all necessary licenses, permits and authority.

    • B. 

      Pay any and all taxes, fees, dues, levies or charges.

    • C. 

      Encourage, abet, tolerate, or participate in the aversion or illegal reduction in the payment of all taxes, fees, dues, levies ar charges.

    • D. 

      Should not offer or agree to pay, split or rebate any commission or fee.

  • 9. 
    The real estate practioners in his advertisments or brochures of properties for sale should present but not;
    • A. 

      A true picture of the property and its improvements.

    • B. 

      Its rights and interest therein, including its liens and encumbrances.

    • C. 

      Indicate name, firm, address and license number.

    • D. 

      Conceal relevant information and other related facts.

  • 10. 
    With regard to the relation with a client or customer, the practitioner, in accepting an appointment or Authority to act for and in behalf of the client/customer, can perform such except:
    • A. 

      Acquire an interest or buy for himself or members of his family within the 4th civil degree.

    • B. 

      Endeavor to make buyer and seller conclude a fair contract, advantageous to both parties.

    • C. 

      Assist his client to acquire possession and ownership of the property bought in accordance with

    • D. 

      Should not accept commission or fee from any party in any transaction except from his client

  • 11. 
    • A. 

      The agent agreement has expired.

    • B. 

      The property has come to the attention of the accepting broker.

    • C. 

      The owner, without solicitation, offers to list with the accepting broker.

    • D. 

      Saw the notice of the property for sale and walk-in within the period of broker's agreement.

  • 12. 
    Which of the following statements is not a valid criterion for ethical behavior?
    • A. 

      Ethics is the name we give to our concern for good behavior. We feel an obligation to consider not only our own personal well-being but also that of others and of human society as a whole.

    • B. 

      Ethics is right for right's sake.

    • C. 

      A code of Ethics is subservient to laws and regulations. Therefore, any act that is not any law is not

    • D. 

      Ethics is having a high moral sense. The capacity to perceive what is right is measured primarily by the application of the Golden Rule

  • 13. 
    In Joint venture agreement between the developer and lot owner, the engagement of a real estates consultant is necessary except
    • A. 

      Asecrtain fair market value of land and evaluate cos estimate of developer.

    • B. 

      review joint venture agreement

    • C. 

      market the finished project.

    • D. 

      Monitor and evaluate developer's compliance with his undertaking

  • 14. 
    In an exclusive authority to sell which he gives you for a period of ninety days, your client seller wants a 15 million asking price for his house. Upon appraisal you realize that the price is very reasonable and fair to both seller and eventual buyer. Knowing from experience that buyers always give counter offers, how much should you quote hen offering the property?
    • A. 

      P17 Million

    • B. 

      P16 Million

    • C. 

      P15 Million

    • D. 

      P18 Million

  • 15. 
    As an agent of the seller, the real estate broker is usually authorized to do all of the following except:
    • A. 

      Place "for sale" sign on the listed property

    • B. 

      Cooperate with other brokers to facilitate a sale

    • C. 

      Bind the principal under a contract to sell.

    • D. 

      List the property on the multi-listing service.

  • 16. 
    A house of the folloing nespaper line ads is blatantly unethical?
    • A. 

      HOUSE ON A VERY QUITE NEIGHBORHOOD

    • B. 

      FLOOD FREE STREET

    • C. 

      THE VALUE OF THIS PROPERTY WILL DOUBLE IN ONE YEAR

    • D. 

      BEAUTIFUL VIEW

  • 17. 
    Jose takes the following steps as a licensed real estate broker. Which of these actions can be
    • A. 

      He accepted an exclusive listing for abandoned house and lot even with his knowledge that

    • B. 

      The proceeds to entertain prospective buyers all the while disclosing to them the crime commited

    • C. 

      He also advertised the listing giving the exact address for an open house on one weekend.

    • D. 

      He invites his friends to attend the open house hoping that real buyers feel that there are many

  • 18. 
    Three of the following are tricks employed by unethical real estate brokers when bringing clients to view their listings. Which one is not unethical?
    • A. 

      Using a roundabout route to avoid unwholesome neighborhood.

    • B. 

      Employing a cleaning company to freshen the smell of the house interiors.

    • C. 

      Forecasting changes from residential to commercial zoning to hint at high rates of value appreciation.

    • D. 

      Showing another inferior property to position his listing as the better alternative.

  • 19. 
    Novice real estate brokers have limitations that make it unethical to accept some listings. Which one does not apply?
    • A. 

      No database of regular clients.

    • B. 

      Expertise-some listing require higher skills or knowledge beyond their capability.

    • C. 

      Area of operations- the location of the listing precludes proper and diligent effort to service prospective buyers.

    • D. 

      Part time brokers cannot give full time attention to listings.

  • 20. 
    After the sale is consummated, the broker should do the following except:
    • A. 

      Accept commission from both seller and buyer without the knowledge of either of the parties.

    • B. 

      Should assist the buyer to acquire possession and ownership of the real property bought in

    • C. 

      Should see to it that bith the buyer and the seller concluded a fair contract advantageous to both.

    • D. 

      In case of court proceeding and called upon to act as witness, should give testimonies in the most

  • 21. 
    There are times when a broker has to share his listings with other brokers. In case of sale, the listing broker should do the following, except:
    • A. 

      Should share the commission as agreed upon.

    • B. 

      Should negotiate directly without the consent of the other broker.

    • C. 

      Should not seek unfair advantage over his fellow brokers.

    • D. 

      Should not criticize publicly the other broker.

  • 22. 
    A sign giving notice of a property for sale or lease should not be placed on a property by more that one broker and only if
    • A. 

      The sign is placed at least one meter aways from the other sign

    • B. 

      The sign should be of the same size as the other signs

    • C. 

      Authorized by owner

    • D. 

      It should not exceed three signs on the property

    • E. 

      The address of the broker is indicated on the sign.

  • 23. 
    As a real estate practitioner, we should but not:
    • A. 

      Willingly share the lessons and experiences

    • B. 

      Not use the service of the salesman of the fellow practioner without their knowledge and consent.

    • C. 

      Not solicit listings currently listed exclusively with another broker.

    • D. 

      Not pass a listing to a third broker without the knowledge and consent of the listing broker.

    • E. 

      Put sing or notice of a property for sale without authority from the owner.

  • 24. 
    The ethical broker always strives to protect his client's interest. Which of the following is not ethical
    • A. 

      Maintain utmost confidentiality on matters not directly related to the property.

    • B. 

      Strive to be familiar with laws and ordinances on real estate.

    • C. 

      Discuss the negotiating position of your client with the buyer's broker to hasten the sale.

    • D. 

      Tell your client/seller that his price is too hign and give your opinion on the fair market value of

  • 25. 
    To the ethical broker, the principle of full disclosure dictates that vital information that can affect the property or the transaction should be disclosed and explained to his client. Which one of the following is contrary to an ethical disclosure?
    • A. 

      Changes or planned changes in the zoning affecting the property.

    • B. 

      Your opinion of future land values in the vicinity of the property.

    • C. 

      Details of the contract.

    • D. 

      Sale of similar property in the vicinity

  • 26. 
    For the rule on conflict of interest to apply to a real estate broker selling a property owned by relative, within what civil degree of relation is involved?
    • A. 

      second

    • B. 

      fifth

    • C. 

      Fourth

    • D. 

      1st degree

    • E. 

      Third