California Real Estate Practice 6th Edition by Walt Huber and Arlette Lyons CHAPTER 3 EXTRA QUIZ

1. A real estate listing is an: a. employment contract. b. illusory contract. c. unenforceable contract. d. all of the above.

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2. Agency most often refers to the relationship between: a. the principal and third party. b. the principal and the agent. c. the agent and third parties. d. none of the above. 3. A listing contract is basically a: a. unilateral contract. b. bilateral contract. c. both a and b. d. neither a nor b. 4. Open listings: a. are most often used for vacant land. b. are the least desirable form of listing. c. dont benefit from the exposure of a multiple listing service. d. all of the above. 5. Most brokers with an exclusive agency listing will insist that an owner: a. quotes the same asking price as the broker. b. kicks back an additional 3% to the brokerage. c. be licensed with the DRE. d. all of the above. 6. From a brokers point of view, the most desirable listing is the: a. open listing. b. exclusive right to sell. c. net listing. d. none of the above. 7. A listing office/agent will be fined for not updating all pending and sold properties on an MLS within: a. 24 hours. b. 36 hours. c. 48 hours. d. 72 hours.

8. To obtain the legal description, lot size, zoning, and surrounding streets in the same tract as the subject property, most agents use: a. title companies. b. public libraries. c. hearsay. d. none of the above. 9. Comparables are properties that: a. have closed escrow. b. are similar to the subject property in size and amenities. c. are located within one mile of subject property. d. all of the above. 10. A lockbox usually contains: a. the homeowners valuables. b. the brokers important paperwork. c. the keys to the property. d. all of the above.