Contracts, Finance, and Transfer Practice Question
Question
An agent compares two similar exam concepts for the North Carolina Real Estate Broker Exam involving listing agreement and provisional broker supervision. Which response best applies the rule? (Item 75)
Answer choices
- A. The client’s preference eliminates the need to disclose known material facts.
- B. The party who complains first automatically receives the remedy requested.
- C. Identify broker employment terms, compensation, property description, and authorization in a way that fits North Carolina exam practice.
- D. Escrow or closing staff automatically assume all brokerage agency and disclosure duties.
Correct Answer
C. Identify broker employment terms, compensation, property description, and authorization in a way that fits North Carolina exam practice.
Explanation
The correct answer is C because listing agreement requires candidates to identify broker employment terms, compensation, property description, and authorization. The North Carolina 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: medium
- Domain: Contracts, Finance, and Transfer
- Objective: listing agreement