Michigan Law Quiz

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THE PRACTICE QUIZ DOES NOT KEEP SCORE (4 Wrong = 67%, 3 Wrong = 75%)
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  1. When can a broker accept a commission from both the buyer and seller in the same transaction?
    1. Always.
    2. When there is a dual agency.
    3. With full written disclosure and written permission from both the buyer and seller.
    4. Never.

 

 

 

 

 

 

 

 

 

 

CORRECT!

  1. A salesperson is representing a young, black couple that is looking for a three-bedroom ranch house. The salesperson has a listing on a two-bedroom townhouse in an all white neighborhood, but does not tell the couple about the property. The salesperson is guilty of:
    1. Steering.
    2. Failure to adequately represent the buyers, because he did not tell them about all available properties in the area.
    3. Nothing, because the house does not meet their needs.
    4. No violation, because the salesperson cannot represent both the buyer and seller in the same transaction.

 

 

 

 

 

 

 

 

 

 

RIGHT!!

  1. The license of a real estate salesperson shall be:
    1. Carried by the licensee at all times.
    2. Conspicuously displayed in the broker's place of business.
    3. Carried by the licensee whenever they are working.
    4. Kept on file with the Department of Real Estate.

 

 

 

 

 

 

 

 

 

 

FANTASTIC!!!

  1. All of the following are exempt from the license law except:
    1. A homeowner selling their neighbor’s home.
    2. An attorney-at-law performing their duties as an attorney.
    3. An attorney-in-fact acting on behalf of a close friend.
    4. A trustee selling one property under a deed of trust.

 

 

 

 

 

 

 

 

 

 

COOL!!

  1. After a real estate salesperson gives their broker written notification to terminate their employment with that broker:
    1. The salesperson must turn their license into the Department of Consumer and Industry Services within 5 days.
    2. The broker must deliver or send the salesperson’s license to the Department by certified mail.
    3. The salesperson should continue to work for two weeks as proper notification to their broker.
    4. The license and pocket card must be destroyed by the broker.

 

 

 

 

 

 

 

 

 

 

CORRECT!

  1. If the license of a real estate broker is revoked:
    1. The senior associate broker for that firm would temporarily be named the broker for that company.
    2. The licenses of all salespersons and associate brokers for that firm would be automatically suspended.
    3. Licensees may transfer to another broker, after filling out a transfer form and paying a transfer of license fee.
    4. None of the above.

 

 

 

 

 

 

 

 

 

 

CORRECT!

  1. A young white couple is new to the area and is looking for a house to buy. The salesperson they are working with only shows them homes in white neighborhoods because he thinks they might be uncomfortable in a minority neighborhood. The salesperson:
    1. Can help them with the neighborhoods, because they do not know the area.
    2. Can help them select a neighborhood, if he gets a signed contract to represent the buyer.
    3. Is guilty of steering.
    4. Can do this, but would be discriminating if he did this with a minority.

 

 

 

 

 

 

 

 

 

 

CORRECT!

  1. Which of the following is required for a broker’s license?
    1. 90 hours of approved classroom courses in real estate, including 9 hours of instruction on civil rights law and equal opportunity in housing; be licensed for 3 years.
    2. 90 hours of approved classroom courses in real estate, including 4 hours of instruction on civil rights law and equal opportunity in housing.
    3. 90 hours of approved classroom courses in real estate; be licensed for two years.
    4. 50 hours of approved classroom courses in real estate, in addition to the 40 hours received as a salesperson, including 9 hours of instruction on civil rights law and equal opportunity in housing; be licensed for 3 years.

 

 

 

 

 

 

 

 

 

 

RIGHT!!

  1. An agent is working with a buyer who has seen a house he loves, but is not for sale. The agent contacts the homeowners and tells them that they should sell their house because minorities moving into the neighborhood are bringing down property values, and they could lose a lot of money if they stay there. The agent is guilty of:
    1. Blockbusting.
    2. Steering.
    3. Redlining.
    4. Nothing. This is an acceptable business practice.

 

 

 

 

 

 

 

 

 

 

FANTASTIC!!!

  1. Two weeks have gone by since Roberta sufficiently demonstrated that she met all of the requirements to obtain a salesperson’s license, and she has not yet been issued a license. Roberta:
    1. Can begin to work, as she is considered to be licensed.
    2. May be issued a temporary license, without paying any additional fee.
    3. Must wait until her license is ready before she can start working.
    4. Was authorized to work as soon as she met all of the requirements.

 

 

 

 

 

 

 

 

 

 

COOL!!

  1. A salesperson may accept a $500 bonus for doing a good job:
    1. From their employing broker.
    2. From the seller.
    3. Both A & B.
    4. Never.

 

 

 

 

 

 

 

 

 

 

FANTASTIC!

  1. A licensed agent is required to:
    1. Provide a written agency disclosure to a prospective buyer, if the agent is considered to be representing the seller.
    2. Provide an oral agency disclosure to all buyers and sellers.
    3. Provide a written agency disclosure to all buyers and sellers.
    4. Provide an agency disclosure to buyers and sellers prior to signing a contract to represent that buyer or seller.

 

 

 

 

 

 

 

 

 

 

CORRECT!

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