100. With what type of commission plan does a broker not charge a fee, but a commission based on a percentage of the selling price? a. Straight commission planb. 100% commission planc. Negative commission pland. None of the answers are correct

63. The Real Estate Settlement Procedures Act (RESPA) covers the sale of: a. 16 or more units.b. one- to four-residential units.c. only income producing property.d. none of the answers are correct.

39. FSBO refers to which of the following? a. Financing Secured By Owner b. Financing Subject to Buyer’s Okayc. Fire Sale By Ownerd. For Sale By Owner

45. Which of the following is true concerning the Transfer Disclosure Statement (TDS)? a. It must be provided to prospective buyers by sellers of one- to four-residential units.b. A buyer has two years to sue an agent and seller for failure to make proper disclosures.c. The listing agent is not legally allowed to complete the entire statement.d. All answers are correct.

73. What does the term “bifurcated” mean?a. Multipliedb. Marginalizedc. Pacifiedd. Divided  

94. The amount of commission payable to a real estate broker is ordinarily based on: a. statutory limitations.b. rules and regulations of the DRE and the FBI.c. a secret formula known only to the Real Estate Commissioner.d. agreement of the parties.  

71. “No Darn Fooling Around” (NDFA) is a method for remembering: a. important property tax dates.b. scheduled balloon payments.c. relative’s birthdays.d. none of the answers are correct.

37. The purpose of an electronic lockbox is to: a. store keys to the property for agent access.b. store sensitive documents in broker’s office.c. protect “for sale” signs from being tampered with. d. none of the answers are correct.

83. How many copies of a listing agreement must be provided to a couple who is considered “one legal entity?”  a. Oneb. Twoc. Threed. None

40. Which of the following is NOT a responsibility that can be designated to a transaction coordinator (TC)? a. Initial the forms as approved when the broker is unavailable b. Create a timeline of important datesc. If instructed, open escrowd. Remind broker when deadlines are approaching