By John A Yoegel
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Who owes how much to whom? A. B. C. D. 36 The seller owes the buyer $310. The buyer owes the seller $310. The seller owes the buyer $3,340. The buyer owes the seller $3,340. 94. Buyer A pays $300,000 for a house, putting down $60,000 and borrowing $240,000. The house appreciates 25% during the years he owns it. When he sells the house, what is his profit? A. B. C. D. $15,000 $75,000 $135,000 $375,000 96. What is the commission on the sale of a house that sold for $475,000 if the commission rate was 5%?
Commissions and fees paid by the seller of a property A. B. C. D. must be paid to the broker directly. must be paid to the sales associate directly. may be paid to the broker or sales associate. are generally paid to the multiple listing system for division between brokers and sales associates. 23. Commissions are A. B. C. D. 54 always negotiable. set by the Florida Real Estate Commission. set by the local board of Realtors. set by the local multiple listing system. 22. An office located in a subdivision that is only designed to provide protection to customers and sales agents is considered a A.
15. Which of the following statements is true in the case of a single agency residential transaction? A. B. C. D. 52 A broker may represent both the buyer and the seller in a fiduciary capacity. A broker may represent either the buyer or the seller in a fiduciary capacity. A customer is always represented by a broker as an agent. A seller is always represented by a broker as an agent. 14. A property owner hires someone to handle all his properties except for buying and selling them. He is acting as a A.