Contracts, Finance, and Transfer Practice Question
Question
An agent compares two similar exam concepts for the Ohio Real Estate Salesperson Exam involving listing agreement and Ohio Division of Real Estate. Which response best applies the rule? (Item 165)
Answer choices
- A. Identify broker employment terms, compensation, property description, and authorization in a way that fits Ohio exam practice.
- B. Escrow or closing staff automatically assume all brokerage agency and disclosure duties.
- C. The client’s preference eliminates the need to disclose known material facts.
- D. The party who complains first automatically receives the remedy requested.
Correct Answer
A. Identify broker employment terms, compensation, property description, and authorization in a way that fits Ohio exam practice.
Explanation
The correct answer is A because listing agreement requires candidates to identify broker employment terms, compensation, property description, and authorization. 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: easy
- Domain: Contracts, Finance, and Transfer
- Objective: listing agreement