CA Real Estate Principles Course » 2021 » Section 4 Unit 1 Exam

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Question #1
Melanie is selling her single-family home. She has hired Damian to represent her as her agent in this transaction. Is Damian required to provide Melanie with an agency disclosure form?
A.   Yes, agency disclosure is required on sales of residential properties with one to four units.
B.   No, agency disclosure is not required on sales of residential properties with one to four units.
C.   No, Damian does not provide the agency disclosure to his client. He only provides it to others involved in the transaction.
D.   No, agency disclosure is only required on leases exceeding one year.
Question #2
Gregory is looking for an apartment to rent for six months. He’s hired Franklin as his agent to help with this search. Is Franklin required to provide Gregory with an agency disclosure form?
A.   No, agency disclosure is only required on sales of residential properties.
B.   Yes, agency disclosure is required for lease transactions.
C.   No, agency disclosure is only required for lease agreements exceeding one year in length.
D.   No, agency disclosure is only required for commercial transactions.
Question #3
Which of the following statements regarding buyer and seller agency is true?
A.   A seller's agent represents the buyer, while the buyer's agent represents the seller.
B.   Seller agents are dual agents.
C.   A seller's agent represents the seller, while the buyer's agent represents the buyer.
D.   A sub-agent represents the buyer.
Question #4
You're holding an open house for Brenda. Walt and Mary walk in and ask you for a flyer that gives details about the property. At this point, what's your relationship with Walt and Mary?
A.   Clients
B.   Customers
C.   Confidantes
D.   Friends
Question #5
Which type of agent is an escrow officer?
A.   Single agent
B.   General agent
C.   Limited agent
D.   Universal agent
Question #6
Jennifer is selling her property and hired Larry as her agent. Jane brings her client, Andrew, a prospective buyer, to see Jennifer's property. What is Larry's role in this scenario?
A.   A buyer's agent
B.   A sub-agent
C.   A dual agent
D.   A seller's agent
Question #7
Simon is a buyer represented by Peter. Peter shows Simon several homes currently on the market. What is Peter's relationship to the sellers, if he doesn't represent them?
A.   The sellers are Peter's principals.
B.   The sellers are Peter's customers.
C.   Peter is a fiduciary for the sellers.
D.   Peter has no relationship with the sellers.
Question #8
Anthony owns a new commercial strip mall with several units. He’s hired Jillian as his agent to find tenants to rent each unit. Is Jillian required to provide Anthony with an agency disclosure form?
A.   Yes, Jillian is required to provide Anthony with an agency disclosure form.
B.   No, agency disclosure is only required for residential transactions.
C.   No, agency disclosure is only required on sales of commercial properties.
D.   It depends on how many units are for lease.

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