45-HR. CA REAL ESTATE PRACTICE COURSE » Summer 2021 » Section 9 Unit 2 Exam

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Question #1
Which of the following is a true statement regarding a licensee’s role in preparing a real estate contract?
A.   A licensee may not alter an existing form.
B.   A licensee has legal authority to draft any real estate contract or addendum.
C.   A licensee's role is limited to filling in the blanks.
D.   A licensee must use standardized language when writing an addendum.
Question #2
Jeremy signed a listing agreement with a broker, Ralph. Jeremy was then run over by a cement truck and died. What happens to his agreement with Ralph?
A.   It gets assigned to Jeremy's attorney.
B.   It continues and is binding on Jeremy's heirs.
C.   It becomes void.
D.   It is terminated.
Question #3
Which of these statements accurately describes what a seller is agreeing to in the seller representations portion of a listing agreement?
A.   Sellers will represent the brokerage and need to behave with professionalism.
B.   Sellers must disclose financial issues that may affect the sale, such as delinquency in payments, bankruptcy, or receipt of a notice of default.
C.   Sellers must disclose all material facts about the property.
D.   Sellers must own the property with a clear title.
Question #4
Andy has decided to drop the price on his townhome. His listing agreement states the list price as $650,000. How can he account for the price drop?
A.   He cannot change it, but may accept a lower offer
B.   Ask his agent to change it on the MLS
C.   Complete a Modification of Terms form before changing it on the MLS
D.   Once the listing term expires, he may relist it at the new price
Question #5
Amy is working with seller clients who have suggested they would like the property to go to another African-American family. Which section of the listing agreement would help Amy convey why she cannot market the property this way?
A.   Anti-discrimination disclosure
B.   Fair housing rules
C.   Equal housing opportunity
D.   Illegal practices
Question #6
California law requires a notice about compensation to the broker in the listing agreement. What does that notice need to communicate?
A.   The amount or rate of the commission is not fixed by law.
B.   Net listings are illegal.
C.   The amount or rate of the commission is fixed by law.
D.   Net listings are required by law.
Question #7
Why is it so necessary to obtain signatures on a listing agreement?
A.   Any real estate contract must be in writing to be enforceable.
B.   Every blank needs to be filled in on a form contract.
C.   Signatures are required to list the property on the MLS.
D.   Your broker may be fined for approving a listing agreement that is not signed.
Question #8
What does the successor and/or assigns section of the Residential Listing Agreement state?
A.   It states that the listing agreement is binding on the seller's heirs.
B.   It prohibits the licensee from assigning the listing agreement to the licensee's broker.
C.   It prohibits the seller from assigning the listing agreement to anyone else.
D.   It prohibits the seller from assigning the listing agreement to another licensee.

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