MIRES Michigan Real Estate Salesperson Exam - Set 3 - Part 3

Test your knowledge of technical writing concepts with these practice questions. Each question includes detailed explanations to help you understand the correct answers.

Question 41: A Michigan broker in Alpena wants to pay commissions still owed to a salesperson who has since left the firm and now works for a competitor across town. Which of the following describes whether Michigan permits that payment?

Yes, for compensation earned while employed

Yes, but only through the new broker

No, since she now works elsewhere

No, unless the new broker consents

Question 42: A Michigan listing broker in Marquette wants to pay part of her commission to a broker licensed in Wisconsin who referred the buyer but never set foot in Michigan. Which of the following describes that payment under the article?

Prohibited, since he holds no Michigan license

Permitted only with the buyer's written consent

Permitted, since referral fees are unregulated

Permitted, since no Michigan negotiation occurred

Question 43: A Michigan broker in Bay City wants to pay a home warranty company a share of her commission for steering her clients toward it, and she has told no one about the arrangement. Which of the following describes it?

Permitted, since warranties are not settlement services

Prohibited only above the commission

Prohibited without prior written consent

Permitted, since the client chose the company

Question 44: A Michigan licensee in Holland arranges financing for her buyer client through a lender that offers her a fee, and she is also earning a commission on the sale. Which of the following describes what she must obtain?

Prior written consent of the buyer alone

Prior written consent of buyer and seller

Approval from the department in advance

Nothing, since the lender pays the fee

Question 45: A Michigan broker closes a transaction in Wyoming, Michigan on terms slightly different from those in the executed purchase agreement, believing the change benefits everyone, and she never asks either party. Which of the following describes that conduct?

Prohibited without written approval of both

Permitted, if the title company agreed

Permitted, if disclosed at the closing table

Permitted, since the change helped both sides

Question 46: A Michigan buyer's agent in Canton is preparing an offer and wants to confirm what the current rules say about the completeness of that document before her buyer signs it. Which of the following states the Michigan requirement?

Terms may be added by later addendum

Oral side agreements are acceptable

Only price and closing date are required

All terms and conditions must be included

Question 47: A seller in Rochester Hills signs a listing agreement, and the broker later realizes that the form she used contains no nondiscrimination language of any kind. Which of the following describes the effect of that omission on the broker?

The omission matters only for rental listings

The statute requires that language

A fair housing poster cures it

The omission voids the listing entirely

Question 48: A Michigan buyer pays a seller in Marshall a sum for the exclusive right to purchase a parcel at a fixed price within the next six months, without obligating herself to buy. Which of the following identifies that contract?

A land contract for the parcel

A right of first refusal

A binding purchase agreement

An option to purchase

Question 49: A Michigan seller in Novi accepts an offer, and the buyer's agent asks the listing agent to note on the file that the seller received the disclosure statement before signing. Which of the following describes how compliance is indicated?

Only by a notarized affidavit

Only in the multiple listing service record

On the agreement or a separate document

Only in the broker's internal transaction file

Question 50: A Michigan brokerage in Troy maintains one trust account for earnest money and a second one for another office, and the department now asks to review both sets of records. Which of the following describes the brokerage's obligation?

Only the primary account is reviewable

Inspection requires a court order first

Inspection is limited to closed transactions

The records are subject to department inspection

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