Quizzes, Questions & Answers

Top Trending Quizzes

Explore the intricacies of Agency Law within the real estate sector. This assessment focuses on legal principles, agency relationships, and fiduciary duties, equipping learners with essential knowledge to navigate real estate...

Questions: 14 | Attempts: 10 | Last updated: Oct 22, 2025

Sample Question 1
An exclusive agency listing can best be described as:

B.a listing agreement between a seller and broker wherein the seller agrees to pay a commission to the listing broker, unless the seller finds the buyer.

D. a listing agreement where the seller is not obligated to pay any commission to the listing broker.

A. a type of listing agreement wherein the seller agrees to pay the listing broker any amount remaining after the seller has received a predetermined amount from the sale.

C. a type of listing agreement that guarantees the listing broker a commission no matter who brings the buyer.

Sample Question 2
Which one of the following is TRUE?

B. California Civil Code requires consideration to create an agency relationship.

A.The creation or existence of a compensation agreement does not establish an agency relationship between the giver of compensation and the recipient.

D. An agency relationship is automatically established when two parties enter into a compensation agreement without any additional requirements.

C. The fact that a buyer's agent receives compensation as a percentage of the total commission monies paid by the seller establishes an agency relationship between the buyer's agent and the seller.

Sample Question 3
Which one of the following is TRUE about a California real estate broker?

C. A broker is not required to supervise affiliated licensees if they are hired as independent contractors.

B. Brokers are not liable for the actions of affiliated licensees if supervision and control is not adequately exerted.

A. A broker may not hire unlicensed personnel such as a bookkeeper to maintain the client trust account.

D. A broker should establish a policy and procedures manual.