45-HR. CA REAL ESTATE PRACTICE COURSE » Summer 2021 » Section 18 Unit 1 Exam

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Question #1
Brandon is the listing agent for Jane’s property. After a couple of weeks on the market, two formal written offers come through. One is for well below the listing price, and another is a bit closer, but still under the list price. What should Brandon do with the offers?
A.   Respond to the buying agents and tell them to submit new offers closer to the listing price.
B.   Present both offers to Jane.
C.   Present the lower offer to Jane, but not the higher offer.
D.   Present the higher offer to Jane, but not the lower offer.
Question #2
What must a licensee do regarding property the licensee holds directly or indirectly if it becomes the subject of a real estate transaction?
A.   Offer cooperating broker compensation.
B.   Reduce the commission by half.
C.   Offer the property for sale within the firm before offering it to the general public.
D.   Disclose the interest to all parties to the transaction.
Question #3
Ricky is working for Matt, a buyer client, who is interested in a property at which the listing agent offers compensation to cooperating agents. The listing agent has offered Ricky or any cooperating agent additional compensation if the transaction closes within 40 days. Is this ethical?
A.   Yes, but only if all of the involved parties have full knowledge and provide consent.
B.   Yes, licensees can receive compensation from multiple parties in the transaction.
C.   No, it's never ethical for a licensee to accept compensation from more than one party.
D.   Yes, but only if the Matt has full knowledge of the compensation arrangement and provides consent.
Question #4
What types of laws does the civil code contain?
A.   Laws related to real property contracts, such as contract of sale or land installment contracts
B.   Laws related to the sale of securities
C.   Laws related to theft and other crimes
D.   It does not contain laws

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