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This Chapter Quiz includes 15 multiple-choice questions. You must answer 10 out of 15 questions correctly (70%) in order to pass.

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1. By law, Ayako Tsutsui, a real estate agent, is obligated to deal honestly with everyone. If she makes incorrect statements that can be considered fraudulent, Ayako could face severe consequences for her actions. Which of the following is not a possible consequence?

2. The ………... documents the relationship when an agent lists a property for sale.

3. While you are conducting a walk-through of a condo with your buyer, the owner, Jeff Fox, pulls you aside and mentions that there is a leak in the bathroom from the upstairs unit. The owner of the upstairs unit has refused to fix the issue, and the condo association won't get involved. Jeff asks that you keep this to yourself, since he cannot remedy the situation, and that he will make it worth your while. You thank Jeff for his candor and finish the tour quickly. This is not a situation you want to put your buyer into. Of course, since you are acting in a fiduciary role for the buyer, you tell him about Jeff's comments and apologize for wasting his time. This is an example of:

4. The seller’s agent owes certain duties to the buyer as a customer. These do NOT include:

5. Intentional non-disclosure is also known as…?

6. ………... fraud is the intentional failure to reveal a material fact that impacts a real estate transaction.

7. If you cannot answer a client's question, you should refer them to…?

8. There are three kinds or misrepresentations in real estate. These include…?

9. Intentional misrepresentation is also known as…?

10. Fraud may be active or…?

11. ………... happens when a real estate licensee makes a claim that they know is false.

12. Any fact that may have a significant and reasonable impact on the market value of the property is called a…?

13. A ………… has a legal and binding relationship with the broker. 

14. A buyer's agent may sign which of the following agreements with their client?

15. Lionel Malcolm is a real estate agent representing seller Morty Rosenbaum. Morty tells Lionel that he knows that the basement contains asbestos and that Morty and his wife are unable to pay for the costly removal process. Instead, Lionel frantically tells Morty to keep this information under the lid. Morty agrees. Since state law requires that the seller disclose the presence of asbestos, Lionel and his hapless clients are committing ............ fraud by failing to disclose a material defect in an attempt to trick someone into buying the defective home at full market price.