Contracts, Finance, and Transfer Practice Question
Question
A closing coordinator flags an issue before settlement for the Utah Real Estate Sales Agent Exam involving listing agreement and state forms and disclosure awareness. Which statement is most accurate for exam purposes? (Item 93)
Answer choices
- A. Identify broker employment terms, compensation, property description, and authorization in a way that fits Utah 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 Utah exam practice.
Explanation
The correct answer is A because listing agreement requires candidates to identify broker employment terms, compensation, property description, and authorization. The Utah 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