Contracts, Finance, and Transfer Practice Question
Question
An agent compares two similar exam concepts for the Oregon Real Estate Broker Exam involving listing agreement and Oregon Real Estate Agency. Which statement is most accurate for exam purposes? (Item 3)
Answer choices
- A. The party who complains first automatically receives the remedy requested.
- B. Escrow or closing staff automatically assume all brokerage agency and disclosure duties.
- C. Identify broker employment terms, compensation, property description, and authorization in a way that fits Oregon exam practice.
- D. The client’s preference eliminates the need to disclose known material facts.
Correct Answer
C. Identify broker employment terms, compensation, property description, and authorization in a way that fits Oregon exam practice.
Explanation
The correct answer is C because listing agreement requires candidates to identify broker employment terms, compensation, property description, and authorization. The Oregon 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