Fair Housing, Practice, and Disclosures Practice Question
Question
A seller is preparing to list a home for the Illinois Real Estate Broker Exam involving antitrust price fixing and state escrow and advertising compliance. Which response best applies the rule? (Item 45)
Answer choices
- A. Avoid agreements with competitors about commission rates or fees in a way that fits Illinois exam practice.
- B. The affiliated licensee may handle the matter independently without broker responsibility.
- C. Local custom controls even when a statute, regulation, contract, or disclosure rule applies.
- D. The requirement matters only when the buyer obtains institutional financing.
Correct Answer
A. Avoid agreements with competitors about commission rates or fees in a way that fits Illinois exam practice.
Explanation
The correct answer is A because antitrust price fixing requires candidates to avoid agreements with competitors about commission rates or fees. The Illinois reference keeps the scenario tied to state licensing practice, while the other options rely on unsafe assumptions about oral custom, escrow, client preference, independent licensee authority, or ignoring written duties.
Question details
- Difficulty: easy
- Domain: Fair Housing, Practice, and Disclosures
- Objective: antitrust price fixing