FREE AND STUDY GAMES ABOUT PSI AGENCY TEST ?S

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FREE AND STUDY GAMES ABOUT PSI AGENCY TEST ?S

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -39 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation Question 1: The type of listing that allows more than one brokerage firm to list the property

is known as:

• open listing
• exclusive right to sell
• exclusive agency
• nonexclusive listing

Answer:

A Question 2: TRUE OR FALSE An exclusive agency listing permits the owner to sell witout being liable for a commission.

Answer:

TRUE

Question 3: A person who hires or appoints an agent is called the:

• customer
• principal
• attorney in fact
• fiduciary

Answer:

B Question 4: A salesperson wants to show a property twice in one day. The second time she:

• should call the listing broker again
• should call again if she doesn't know the listing agent
• must call again only if it's for another buyer
• no need 2 call

Answer:

A Question 5: A multiple listing service is:

• organization for exchanging information and sharing fees
• advertising service for listings
• referral service
• type of listing

Answer:

B The MLS allows brokerage firms to exchange property info and set cop op fees for the sale of property.

Question 6: Exclusive listing contracts are all of the following EXCEPT:

• bilateral
• unilateral
• express
• terminated upon death of principal

Answer:

B Question 7: A form of agency that gives the agent the broadest powers to act for the principal.

Answer:

Universal Agency Question 8: All of the following would terminate a listing EXCEPT:

• death of listing agent
• destruction by tornado
• bankruptcy of listing brker
• expiration of time

Answer:

A Question 9: If a brokerage produces a ready, willing & able buyer at seller's terms & seller

refueses to sell, the commission:

• must be negotiated
• is earned by broker
• is paid by the buyer
• is not earned

Answer:

B

Question 10: A broker is entitled to a commission regardless of who sells the property during the listing period if he or she has which of the following listings?

• open
• exclsive right to sell
• all of these
• net

Answer:

B Question 11: As a listing agent, what obligations do you owe to an unrepresented buyer?

• loyalty and honesty
• honesty and fairness
• loyalty, fairness and honesty
• fairness only

Answer:

B Question 12: The principal broker at xyz realty has told her salespeople to try and only sign

listings that give the most protection:

• exlusive agency
• open listing
• exclusive right to sell
• net listings

Answer:

C