Contracts, Finance, and Transfer Practice Question
Question
A client asks whether a fact should be disclosed for the Ohio Real Estate Salesperson Exam involving exclusive right to sell and state-specific license supervision. Which response best applies the rule? (Item 94)
Answer choices
- A. The rule applies only to commercial transactions and never to residential transactions.
- B. Recognize a listing that generally earns commission if the property sells during the listing term in a way that fits Ohio exam practice.
- C. Client funds may be mixed with business funds if the broker reconciles the account later.
- D. The issue can be ignored if the parties want to close quickly.
Correct Answer
B. Recognize a listing that generally earns commission if the property sells during the listing term in a way that fits Ohio exam practice.
Explanation
The correct answer is B because exclusive right to sell requires candidates to recognize a listing that generally earns commission if the property sells during the listing term. The Ohio 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: exclusive right to sell