ORES Ohio Real Estate Salesperson Examination - Set 3 - Part 1
Test your knowledge of technical writing concepts with these practice questions. Each question includes detailed explanations to help you understand the correct answers.
Question 1: A broker hired under a listing to find a buyer for one property cannot sign contracts binding the owner. Which type of agent is this broker?
Question 2: One agent is authorized to do virtually anything the principal could do personally, with almost unlimited authority. Which classification fits this rarely seen relationship?
Question 3: A licensee gives a buyer negotiating advice and reveals the seller's motivation, with no signed agreement. Which type of agency may a court find was created here?
Question 4: Someone acts on a principal's behalf without prior authority, and the principal later accepts and approves those acts. Which method of creating agency does this describe?
Question 5: A principal's own words lead a third party to reasonably believe an agency exists and to rely on it, barring the principal from denying it. Which doctrine applies?
Question 6: A buyer's broker is paid through a commission split from the listing side rather than by the buyer. Whom does that broker represent?
Question 7: Under one listing, the broker earns a commission if the property sells during the term even if the seller personally finds the buyer. Which listing is this?
Question 8: One broker is the sole agent, but the seller keeps the right to sell independently and owe no commission. Which listing arrangement does this describe?
Question 9: A seller states a figure to net, and the broker keeps everything the sale brings above it. Which arrangement creates this conflict between loyalty and self-interest?
Question 10: A property owner signs a contract authorizing a broker to market the property and find a ready, willing, and able buyer. Which document is this?
Question 11: One fiduciary duty requires the agent to place the client's interests above all others, including the agent's own financial interest. Which duty is this?
Question 12: An agent must report on and safeguard all client funds and keep them out of the broker's own operating account. Which fiduciary duty does this describe?
Question 13: A buyer is the customer of the seller's broker. Beyond honesty and fair dealing, which duty does that broker still owe this buyer?
Question 14: A single broker wants to represent both the seller and the buyer in the same sale. For this dual agency to be lawful, what is generally required first?
Question 15: Both parties are clients of one brokerage, so the broker assigns one licensee to the seller and a different licensee to the buyer. Which arrangement is this?
Question 16: A licensee helps both sides complete the paperwork, discloses known material defects, but advocates for neither party. Which non-agency role does this licensee occupy?
Question 17: Two weeks after a home is listed, it is destroyed by fire. What happens to the listing agreement as a result?
Question 18: An agent holds a financial stake in the very property that is the subject of the agency, making the arrangement irrevocable by the principal. Which agency is this?
Question 19: A seller stationed overseas signs a written instrument authorizing her sister to sign the deed in her place. Which document grants this authority?
Question 20: The federal Fair Housing Act, as amended, prohibits housing discrimination based on seven protected characteristics. Which of the following is one of those protected classes?
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