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Question 1

A broker maintains a real estate agency and terminated two salespersons. In this situation, the broker is REQUIRED to take all the following actions with regard to these two salespersons EXCEPT:

Options :

A : provide each with a written accounting of all monies due each salesperson.

B : permit them to remove original sales or listing contracts from the brokers office.

C : pay any undisputed compensation due within ten days of the broker's receipt of such funds.

D : abide by the post-termination compensation clause contained in their employment agreements or provide a written explanation for not doing so.

Answer: B

Question 2

A tenant has a commercial lease that requires that the tenant pay taxes, insurance, maintenance, and parking lot repairs. What kind of lease does the tenant have?

Options :

A : net

B : gross

C : ground

D : percentage

Answer: A

Question 3

A licensee faxes a list of available properties to prospective buyers. Which of the following is true?

Options :

A : The fax must contain an opt-out provision for future communications.

B : The licensee must include only a phone number to reply.

C : The licensee's company's name does not need to be listed.

D : The licensee must mail an identical list to all parties.

Answer: A

Question 4

A client is considering listing an industrially zoned 10-acre site. It has been vacant for several years, and was formerly used as an automobile junkyard. What would a responsible real estate licensee recommend the seller consider obtaining prior to putting the property on the market?

Options :

A : a radon measurement analysis

B : an environmental site assessment

C : an electromagnetic field determination

D : an air quality report from the Environmental Protection Agency

Answer: B

Question 5

A CORRECT statement about transaction brokers is that they:

Options :

A : represent both the buyer and the seller

B : represent neither the buyer nor the seller

C : are required to disclose confidential information

D : may conduct transactions without an active real estate license

Answer: B