Reference no: EM132183607

1. An _____________ listing does not need to contain an expiration date.

a) open

b) exclusive agency

c) exclusive right-to-buy

d) None of the above.

2. An exclusive right-to-sell listing agreement entitles a broker to a fee from a seller when:

a) the seller accepts an offer from a buyer submitted by the broker.

b) anyone acquires the property during the listing period.

c) the seller acquires replacement property in a transaction negotiated by the broker.

d) All of the above.

3. Rejection occurs when:

a) a seller seeks different terms by a counteroffer.

b) a seller refuses to accept a full listing offer.

c) Both a and b.

d) Neither a nor b.

4. A withdrawal-from-sale clause entitles a broker to be paid a full listing fee if, during the listing period, the owner's conduct causes the property to be:

a) withdrawn from the market.

b) transferred to others.

c) made unmarketable.

d) All of the above.

5. On a breach by a seller of a listing which does not contain a termination-of-agency clause, the terminated broker is only entitled to:

a) the out-of-pocket costs expended to service the listing.

b) the value of the time and effort expended under the listing.

c) Both a and b.

d) Neither a nor b.