South Dakota Real Estate Practice Exam

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• After how many years is a mortgage considered ineffective and void if not paid in South Dakota?
• When a decedent with three children left an estate of $800,000 but had no will, how is the property divided?
• Which document is not required to be recorded in South Dakota?
• A neighbor has a ten-foot easement but widens it to accommodate a truck. What is true in this scenario?
• Which item is NOT required to appear in a written listing agreement?
• What does the term "moral turpitude" relate to in licensing?
• What document must a nonresident license applicant file with the South Dakota Real Estate Commission?
• Which type of agreement typically does NOT include a provision for automatic renewal?
• Which of the following is NOT grounds for revoking a broker's license in South Dakota?
• What is the consequence of a licensee disclosing a prospective tenant's ability to pay a higher rent than the landlord is asking?
• Which of the following transactions is NOT exempt from the Property Disclosure Act?
• Who administers the real estate license law in South Dakota?
• When must a real estate licensee provide the agency disclosure?
• What commission percentage does Wally receive from the sale of a $150,000 home?
• How many years must an unbroken chain of title be established to create a marketable record title in South Dakota?
• Which statement is true regarding security deposits for landlords of different sizes?
• What is known as commingling in real estate transactions?
• In a limited agency representation scenario, what can a salesperson legally do?
• Which notification is NOT required for a broker to file with a state regulatory agency?
• Which of the following is NOT true about the South Dakota Real Estate Commission?
• Under what condition can a broker collect a commission from both the seller and the buyer in a limited agency situation?
• According to South Dakota law, what must a real property securities dealer do?
• What happens when an associate broker accepts a bonus check from a seller after closing?
• What should a buyer expect during the initial contact with a real estate office?
• What must applications for any real estate license in South Dakota include?
• What should be done if a property listing has mistakes in the property description?
• What is the total real estate tax for a property valued at $125,000 under the following levies: 21.94 mills for the school district, 5.66 mills for the city, and 5.66 mills for the county?
• What happens if a property is sold at tax sale and is not redeemed?
• When a broker associate plans to change companies, which statement is true regarding the necessary notifications?
• What is the primary purpose of a trust account in real estate?
• Which of the following is NOT a protected class under the South Dakota Human Rights Act in housing?
• What must a broker disclose when aware of water damage in a property?
• What is a possible consequence for failure to pay errors and omissions insurance premiums in South Dakota?
• Which action is an EXCEPTION that would not lead to license suspension or revocation in South Dakota?
• Which form of ownership is NOT recognized under South Dakota law?
• What is the time limit for filing a housing discrimination charge with the South Dakota Division of Human Rights?
• What aspect would NOT typically be included in a manual of company procedures?
• If Amy, the qualifying responsible broker, passes away, what must her son Adam do to take over her listings?
• In a real estate transaction, what must a broker do if they receive an offer on a listed property?
• What is required for an easement to be legal?
• What are personal real estate assistants in South Dakota allowed to do under the supervision of their employing broker?
• On which dates do property taxes become delinquent in South Dakota?
• What is the role of the office manager in a local real estate firm?
• What is the minimum notice a landlord must give to terminate a tenancy at will in South Dakota?
• What legal framework governs the actions of real estate licensees in South Dakota?
• Under what circumstance can the South Dakota Real Estate Commission revoke a salesperson's license?
• What should a licensee do upon discovering a latent defect in a property?
• Which action can result in a broker's license being revoked?
• In the case of a broker's fraudulent act that closes on March 30, when must the client file suit to recover damages to be eligible for the recovery fund?
• If an individual sells her own house, what is true about her need for a real estate license?
• What should you do regarding a detached garage that encroaches on a neighbor's property when listing a home?
• Which of the following is not exempt from the South Dakota real estate transfer fee?
• When must a broker return earnest money to a buyer?
• What characteristic distinguishes an exclusive-right-to-sell listing from other agreements?
• What is necessary for a legal listing agreement in South Dakota?
• How often must South Dakota properties be reassessed for tax purposes?
• What is NOT necessary for a broker to be entitled to a commission?
• When is the second installment of the real estate tax payment due in South Dakota?
• Why is it important for real estate licensees to disclose known issues like water damage?
• Which of the following actions does NOT describe a real estate broker's duties?
• Why did Broker Harvey comply with his principal's instructions regarding advertising?
• What is the role of a real estate agent when there is a conflict of interest during a transaction?
• What happens if a real estate broker fails to disclose a tenant's criminal background when required?
• Which disclosure is specifically required by South Dakota statute?
• If a tenant vacates without paying the last scheduled monthly rent, what can the landlord do?
• Which action is not considered a violation of real estate license law?
• In real estate ethics, what is the primary concern regarding client relationships?
• In South Dakota, what may be included in a homestead aside from a house?
• What types of agency relationships are recognized in South Dakota?
• To be extinguished by law, how long must a right-of-way be abandoned (in disuse)?
• What is required in advertisements for real property by licensees?
• What kind of instrument must be recorded to protect interests in real estate?
• What is a legal action that does NOT violate license law?
• How can real property taxes be paid in South Dakota?
• Which of the following best defines a transaction broker?
• What is the consequence of nondisclosure related to property problems?
• Who is responsible for confirming the status of an earnest money check after a contract has been signed?
• What should a listing broker do if an earnest money check is found to be insufficient?
• If the state takes part of a property for a highway, what is the conveyance tax charged?
• In South Dakota, where should a real estate deed be recorded?
• What is the most likely employment relationship between a brokerage and an agent provided with a company car and health insurance?
• How long must a landlord wait before raising rents due to increased property taxes?
• What is a consequence of failing to inform the South Dakota Real Estate Commission about a change of firms?
• What are the disclosure responsibilities of an agent regarding a property previously associated with a highly publicized murder?
• Who is responsible for recording deeds and maintaining official lists in South Dakota?
• If a broker does not file the required notifications, what consequence could this lead to?
• Which provision is NOT included in the South Dakota Real Estate Commission's rules regarding listing agreements?
• Which of the following is an example that does not qualify for adverse possession?
• Which of the following describes a limitation on payments from the real estate recovery fund?
• To prevent a mechanic's lien for materials supplied from lapsing, a supplier must file a notice of the lien within:
• What document is necessary for a sales contract to include specific clauses regarding property conditions?
• What must a licensed real estate agent disclose to clients when representing them?
• After winning a judgment against a broker for fraud, how long does the client have to notify the South Dakota Real Estate Commission to recover money from the recovery fund?
• If an evicted tenant does not remove her $1,200 bedroom set, how long must the landlord store it?
• Which of the following actions does NOT constitute unprofessional conduct in South Dakota?
• After the purchase of a house, if the roof leaks and was previously disclosed as leaking, what can the buyer do?
• For a buyer-brokerage contract to be enforceable in South Dakota, what is required?
• If a seller wishes to give a vacation gift to a salesperson upon the sale of the property, what must happen according to regulations?
• What factor does not affect the commission rate a broker may charge?
• What is a requirement for obtaining a real estate salesperson's license in South Dakota?
• In the context of real estate sales, how are commissions typically structured?
• Who is required to have a real estate broker's license in South Dakota?
• What is the maximum security deposit for residential premises in South Dakota?
• What is true about a listing agreement that automatically renews every three months until the property is sold?
• What happens if a payment is made from the recovery fund for a violation by a licensee?
• What is the role of an on-site property manager for Acme Apartments regarding lease negotiation?
• What is the primary role of the South Dakota Division of Human Rights?
• When are property taxes usually assessed in South Dakota?
• What is the primary role of a property manager in a partnership?
• What must a broker include when advertising their office on a web site?
• What is the consequence of failing to notify appropriate persons before taking a tax deed?
• If a person completed their real estate education on November 1, 2000, by what date must they apply for the salesperson's examination?
• Which law requires that earnest money be safely held in a trust account?
• When is it appropriate for a broker to disclose their relationship with a buyer or seller?
• What action must a broker undertake if they are also a licensed salesperson interested in a property they are listing?
• Which of the following would satisfy the continuing education requirement in South Dakota?
• What is the state transfer fee on a property selling for $250,000?
• What must a broker do immediately after accepting a buyer's earnest money deposit?
• If a visually impaired person has a guide dog, what does the South Dakota Human Rights Act say about renting an apartment?
• Can a person who has not yet received their salesperson's license sue for a commission if an agreement was made before passing the examination?
• What is the consequence if a property owner does not object to unauthorized work being done on their property?
• What is the general datum plane referred to by surveyors throughout South Dakota?
• Commingling funds is a violation. Where should earnest money be deposited?
• What does the assessed valuation of property reflect in South Dakota?
• What should a seller indicate in their property condition disclosure if they have no knowledge of plumbing problems but the pipes are corroded?
• How is the amount of commission due to a Broker-Associate determined?
• If a broker's salesperson wishes to purchase property they are listing, what must they do?
• How many trust accounts can a Responsible Broker maintain?
• Who is responsible for preparing the promissory notes at a closing in South Dakota?
• What is the date of the purchase contract referred to when buyers from Kansas City negotiate to purchase a property in Sioux Falls?
• Who is responsible for referring unlicensed individuals engaging in real estate activities in South Dakota to the appropriate authorities?
• In South Dakota, what is a requirement for listing agreements regarding warranties?
• What occurs when a payment is made from the real estate recovery fund due to a licensee's improper activities?
• What is the minimum balance that must be maintained in the real estate recovery fund?
• What authority does the South Dakota Real Estate Commission have?
• As a property manager for the Jensen Limited Partnership, what can you do regarding the sale of the apartment complex?
• If a buyer is interested in a property listed with XYZ Realty but does not want to enter an agency relationship, what must be obtained?
• When must a broker remove the "For Sale" sign after a property is sold?
• How frequently is the assessed valuation of real estate in South Dakota adjusted?
• What consequence can occur if an unlicensed individual provides real estate services in South Dakota?
• What are the consequences if an affiliate broker accepts unapproved monetary gifts from clients?
• Under what condition is it legal for a broker to represent both the seller and the buyer?
• If a nephew is a witness to his uncle's will and later discovers he is a devisee, what is true regarding the devise?
• When a claim is satisfied against a licensee from the recovery fund, what must the licensee do to have their license reinstated?
• What is true about tenants and the installation of improvements in rented properties?
• How often must a salesperson notify the South Dakota Real Estate Commission of a change of sponsoring brokers?
• What happens to a broker who accepts a net listing in South Dakota?
• When can a real estate company act as an intermediary between a buyer and seller?
• Which of the following activities is NOT permitted for someone holding a salesperson's license?
• If a tenant does not receive their security deposit back, how long can they wait before taking action?
• What does a property manager primarily focus on?
• How is the relationship between a broker and a seller defined when a listing agreement is signed?
• In the event that a salesperson engages in discrimination violations, how is the employing broker affected?
• In the scenario where a broker's unlicensed assistant helped close a transaction, can the broker legally pay the assistant a commission?
• What is the implication of a broker's conviction related to possession and distribution of a controlled substance?
• What must a tenant do to avoid eviction for non-payment of rent?
• Which of the following agreements must be in writing to be enforceable?
• What is the effect on salespeople when a sole proprietor has their license suspended?
• What action can the South Dakota Real Estate Commission take if an unlicensed individual engages in activities requiring a real estate license?
• How many hours of continuing education are required to renew a salesperson or broker license in South Dakota?
• What information must be disclosed to potential buyers if a property has known legal restrictions?
• What is the maximum time frame for a landlord to return a security deposit if there are no damages?
• Which statement is true regarding the homestead right in South Dakota?
• When does a salesperson's license expire in South Dakota?
• What must salesperson Janet include in her advertisement?
• What is the punishment for falsifying real estate value transferred to the register of deeds?
• When do real property taxes become liens on the property?
• What can a broker associate do when purchasing a listed property?
• How many days written notice must a landlord give a tenant who is in default for overdue rent?
• Under the rules of a multiple listing contract, what is expected of all members of the MLS?
• What responsibility does a seller have when entering into an exclusive right to sell listing?
• What is the primary role of a broker in a real estate transaction?
• After a real estate license expires in South Dakota, how long does a licensee have to reinstate it without penalty?
• What is a key consideration when showing a property to potential buyers?
• Which of the following statements about errors and omissions insurance is true?
• Which of the following advertising practices is lawful under South Dakota law?
• When should a landlord present rules and regulations for tenants?
• What is the assumption of ownership for a married couple if not stated otherwise in their deed?
• Which activity is NOT permitted for a time-share agent in South Dakota?
• What is a requirement for a partnership, association, or corporation to be granted a real estate license in South Dakota?
• Which of the following is not considered fraudulent in real estate?
• If a buyer moves into the property on November 18, when did they legally take title to the property?
• How long must the boundaries established by the circuit court for riparian owners remain uncontested for them to become permanent?
• If a buyer is a client of a broker and wishes to purchase a listed property, what must happen?
• What is a requirement for a broker associate to open their own firm?
• How should a property be treated if it has a history involving an illness?
• In South Dakota, who calculates the prorations between buyers and sellers before closing?
• For a single parent with three children, what is the total maximum value of the homestead exemption if the house is worth $75,000?
• What is the legal status of listings based on a net price in South Dakota?
• What does it mean to have an "exclusive agency" listing?
• In a real estate transaction, which action is NOT required of a broker?
• If a deed indicates a purchase price of "$10 and other good and valuable consideration," what might the actual selling price be if the conveyance tax totals $192.50?
• At what age does a person achieve legal contractual competence in South Dakota?
• Which statement is true about multiple listing services (MLS)?
• If a couple’s co-owned home is sold to satisfy credit card debts in South Dakota, how much will creditors receive?
• In the context of adverse possession, how must land be used to qualify for title acquisition?
• What is the primary responsibility of a fiduciary agent in real estate?
• How are members of the South Dakota Real Estate Commission chosen?
• Under what circumstances can a licensed salesperson in South Dakota hold concurrent licenses with multiple brokers?
• Upon receiving an earnest money deposit, a broker in South Dakota must do what?
• When does a broker's liability for refunding to the recovery fund begin?
• Who is eligible for a refund of real property taxes for a personal residence in South Dakota?
• Which property is subject to general real estate taxes in South Dakota?
• Errors and omissions insurance in South Dakota is required to cover which type of claim against a licensee?
• What procedure must a salesperson follow when terminating their affiliation with a broker?
• What does South Dakota law say about the custody of earnest money deposits?
• When is a seller required to provide a property condition disclosure report to a buyer?
• Which of the following best describes the nature of a joint tenancy with rights of survivorship?
• What is the prescriptive period in South Dakota for acquiring title to real property by adverse possession?
• For how long must a real estate licensee in South Dakota preserve important documents related to transactions?
• Unless specified otherwise in a deed, how is ownership of land by a married couple assumed in South Dakota?
• What is required from both parties to finalize the terms of a real estate contract?
• When must licenses be renewed in South Dakota?
• What type of tenancy requires the landlord to provide notice before terminating the lease?
• If a person believes they have been illegally discriminated against, which entity can they file a complaint with in South Dakota?
• If a real estate salesperson sells their own property without a broker, what must they disclose regarding their licensed status?
• What is the validity of an unrecorded real estate instrument?
• What is the minimum age a citizen of South Dakota must be to prepare a legally binding will?
• Upon finding a defect, what should a licensee primarily prioritize?
• Did the agent represent the seller in the transaction if a FSBO property owner accepted an offer through an agent?
• What must be provided to the South Dakota Real Estate Commission when a salesperson changes brokers?
• All of the following constitute proper legal descriptions of parcels of real estate in South Dakota EXCEPT:
• If a minor enters into a contract in South Dakota, what is the statutory period to void the contract after reaching the age of majority?
• Why should a real estate salesperson refrain from referring buyers to a lender that pays referral fees?
• If a lease runs for seven years or longer, it must be in what format?
• Which of the following describes an action that could be considered part of procuring cause?
• What term describes a real estate broker initiating a series of events that lead to a property sale?
• If a seller requests a termite certificate through a salesperson, is it legal for the salesperson to receive a referral fee?
• A seller wants to clear $50,000 from the sale of their home and the broker sold it for $160,000. What is the issue with this arrangement?
• Which activity is NOT considered as "engaging in the real estate business" under South Dakota law?
• How are commissions earned by a broker determined in a real estate transaction?
• What must a tax sale purchaser do to acquire title to the land?
• In real estate, the term 'compensation' typically refers to what?
• On what date does the title pass from the seller to the buyer in a property transaction, assuming the deed is delivered on that date?
• What fee must inactive licensees in South Dakota pay for renewing their licenses?
• What is a crucial requirement for an applicant seeking a real estate license in South Dakota?
• Is a licensed real estate broker allowed to prepare a warranty deed once a valid purchase agreement is drawn up?
• What is the priority of the liens in the given scenario involving a homeowner and multiple banks?
• Which of the following must be disclosed by time-share agents when advertising?
• In South Dakota, which party typically has the burden of proving the existence of a mechanic's lien?
• In South Dakota, how are real estate commissions determined?
• To avoid penalties, what is critical for real estate licensees to do regarding their status?
• In a fiduciary relationship, which scenario does not apply?
• Which action is permissible for brokers when managing client funds?
• What is the penalty-free deadline for paying the current year's real estate taxes in South Dakota?
• What must a person do to obtain a South Dakota reciprocal real estate license?
• How many hours of continuing education is a first-year licensee required to complete before their license expires on December 31st?
• What type of properties are completely exempt from general real estate taxes in South Dakota?
• In terms of renewed licenses, what is the regulatory requirement for South Dakota real estate professionals?
• Under what circumstance can the South Dakota Real Estate Commission investigate a licensee?
• How many witnesses are required to sign in the presence of the person making a will in South Dakota?
• Which factor is considered in determining the real estate tax amount?
• From whom can Salesperson Nancy legally demand a performance bonus for her efforts in negotiations?
• What is the maximum compensation that can be paid from the real estate recovery fund for a single transaction?
• What happens if a landlord in South Dakota refuses to rent to a tenant with a guide dog?
• In which agreement does a broker NOT have to prove she was the procuring cause of the sale?
• What qualification must a branch office manager hold in South Dakota?
• What is necessary for a tenant to remove permanently installed appliances from a residence?
• Which activity can an unlicensed real estate assistant NOT perform in South Dakota?
• Which of the following documents is typically required to validate a real estate transaction?
• What describes a limitation regarding easements?
• Which government action allows for the taking of private property for public use?
• What must a person do to engage in real estate business in South Dakota?
• What is the duration of record-keeping required for South Dakota real estate transactions?
• Which of the following legal descriptions is used in South Dakota?
• What is typically a requirement for a real estate firm license renewal?
• What is the primary purpose of the homestead exemption in South Dakota?
• If a seller's listing agreement has expired, what can the original listing agent not do?
• What is the statutory usury ceiling on loans secured by real estate in South Dakota?
• In what situation might an unclaimed estate NOT escheat to the state?
• What is the primary role of the South Dakota Real Estate Commission regarding errors and omissions insurance?
• A salesperson from a real estate office can show a buyer a property listed with them without an agency agreement under which condition?
• When do unclaimed estates escheat to the state in South Dakota?
• What must be documented to protect against loss of a mechanic's lien?
• Which of the following would not create an agency relationship?
• To be eligible for recording in South Dakota, what must a document be?
• Which entity would need a real estate broker or salesperson license in South Dakota?
• When boundaries established by the court become permanent, what legal requirement must be fulfilled?
• What must be clearly indicated in a buyer agency agreement in South Dakota?
• What is the basis for the transfer fee levied by the state on real estate?
• How long is the education requirement for a South Dakota real estate license renewal every two years?
• Under South Dakota law, what must both landlords provide tenants regarding security deposits after terminating a lease?
• A residential tenant installs a cook range requiring cabinet modifications. When may the tenant remove these items?
• How is the estate of a deceased husband, who left no will, divided among his wife and two adult children?
• Once a broker receives funds from a principal, what is the timeframe for depositing these into an escrow account?
• What is an example of dual agency in real estate?
• In South Dakota, what is required of sellers regarding known property conditions?
• What is a requirement for every South Dakota real estate office?
• Which of the following is NOT a requirement for obtaining a broker's license in South Dakota?
• For a 12-year license renewal, how many hours of education can come from a correspondence course?
• What happens to a tenant's belongings left behind after eviction?
• What type of agency arrangement is exemplified when one agent represents the seller and another represents the buyer in the same firm?
• An agent must disclose all to a potential buyer except:
• Which of the following legal life estates is available to a surviving husband in South Dakota?
• What is the time frame for a property owner to redeem their property after a foreclosure sale in South Dakota?
• Why is it important to disclose the agency relationship to a client?
• An exclusive right to sell listing contract does what?
• Who is typically responsible for paying real property taxes?
• Why is it important for an agent to disclose every step taken in the transaction to the principal?
• What is the main purpose of an earnest money deposit?
• What action can a real estate broker take as an agent for the sellers?
• How is a broker's commission determined in a real estate transaction?
• What action is expected of a broker upon receiving earnest money in a transaction?
• What is required of brokers regarding funds received on behalf of their principals?
• What is the maximum value of real estate that an individual can claim as a homestead in South Dakota?
• Which of the following actions can a broker or salesperson NOT perform during closing preparations in South Dakota?
• In South Dakota, from whom can a real estate salesperson lawfully collect compensation?
• What is the status of Mark's entitlement to a commission after the seller withdraws acceptance of a buyer's offer?
• What should a real estate agent do when showing homes to first-time buyers?
• After filing a mechanic's lien, how long does a mechanic have to enforce it by filing suit?
• Which duty involves keeping a principal informed of all facts that could affect a transaction?
• If an accepted offer does not close, what is true regarding the disbursement of earnest funds?
• What could Broker Joan have been accused of if she was alleged to have violated antitrust laws?
• What is required for the renewal of a salesperson's real estate license in South Dakota?
• As an independent contractor, what type of income does a real estate salesperson receive?
• What information is necessary to create a proper legal description in South Dakota?
• Can a contractor impose a mechanic's lien on a homeowner's property if the homeowner never signed a contract but knew of the work being done?
• What is the term for exaggerating the benefits of a property in real estate?
• If a parcel of land is sold for $200 per front foot, how much would a salesperson earn from a $200,000 sale if they receive 60% of a 10% commission?
• What action did the broker take that violated the agency relationship with the seller?
• For how long must a developer retain a copy of a timeshare plan contract?
• In what situation might a landlord terminate a lease?
• How long must a tax sale purchaser wait before starting action to obtain title if there is no redemption?
• Who is exempt from the South Dakota Real Estate License Act?
• If a licensed broker changes their place of business, what will the South Dakota Real Estate Commission do?
• What should a real estate agent do if they find out that their license has expired?
• What should a buyer's broker do with a $1,000 earnest money check?
• What happens if a seller decides to withdraw a property from the market before the listing agreement expires?
• After a lease is terminated, within how many weeks is the tenant entitled to the return of their security deposit?
• What happens to the liability of surviving owners when a joint tenant with right of survivorship dies in South Dakota?
• What action must a tax sale purchaser take after notifying the owner of record?
• What is the redemption period for a defaulted borrower after a foreclosure sale?
• In South Dakota, which of the following can brokers and salespeople who are not lawyers do regarding real estate contracts?
• What is the primary responsibility of the South Dakota Real Estate Commission?
• When representing a buyer, which ethical consideration should a real estate agent prioritize?
• For which action can the South Dakota Real Estate Commission suspend or revoke a license?
• When will a broker usually receive the sales commission from the seller?
• Who is eligible to receive compensation from the real estate recovery fund?
• What is the consequence for a broker who borrows money from an escrow account to cover emergency repairs without proper authorization?
• What aspect of real estate practice is essential for maintaining compliance in South Dakota?
• If an aggrieved person is awarded a judgment against a real estate licensee for violation of the South Dakota license act, what is the maximum recovery amount from the recovery fund?
• What is the implication when a buyer does not wish to enter into a buyer agency agreement?
• According to South Dakota law, what is the lender's duty when a homeowner pays off a loan early?
• What happens to property taxes not collected due to a homestead exemption in South Dakota?
• What defines the legal priority of mortgages in relation to the date they are recorded?
• If your uncle in a wheelchair wants to see a property that is not accessible, what is the best course of action?
• What is the latest date on which an injured party may file a lawsuit against a broker for monetary damages in relation to the real estate recovery fund?
• What could lead to the suspension or revocation of a licensee's license to practice real estate in South Dakota?
• If a buyer wants to include a clause concerning fantastical creatures in a South Dakota sales contract, who can prepare this clause?
• What consequence does a licensee face upon payment from the recovery fund?
• What is the primary purpose of the South Dakota Real Estate Recovery Fund?
• A buyer has entered into a contract for a condominium purchase. Can they cancel the contract based on prior ownership?
• Upon obtaining a listing, what is a broker or licensed salesperson required to do?
• What should a seller reveal regarding conditions they are unaware of?
• Once a judgment is rendered, how long must a creditor enforce it within?
• What is the nature of the relationship between a broker and their client?
• What must a salesperson include in their advertisement when selling a property?
• What best describes a broker's duty toward their principal regarding the transaction process?
• What is the consequence for a broker misrepresenting the sales price of a property?
• If a broker offers to buy a property if it doesn’t sell in 90 days, what is something he is NOT required to do?
• When is it permissible for a broker to pay a referral fee to an airline pilot for a lead?