Lesson 01 – Ch 1 Vocabulary Quiz
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Question 1 of 3
1. Question
Match the words with the correct definition:
Sort elements
- Statutory law
- Administrative regulations
- Case law
- Common law
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Laws enacted by a federal, state, or local legislative body.
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Rules adopted by a federal, state, or local administrative agency
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Judicial rulings that form a body of law, setting precedents to be followed in later court cases
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Long-established judicial rules
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Question 2 of 3
2. Question
Match the words with the correct definition:
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- A real estate agent licensed to assist and represent buyers and sellers in real estate transactions, in exchange for compensation.
- A real estate agent that assists a buyer in finding a property to purchase.
- An arrangement in which the listing broker and selling broker share the commission paid to the listing broker by the seller.
- A person hired to perform a particular job and to carry out those duties without extensive supervision or instruction.
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• Real estate broker
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• Selling agent
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• Commission split
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• Independent contractor
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Question 3 of 3
3. Question
Match the words with the correct definition:
Sort elements
- Final step in real estate transaction
- Real estate agent who assists a seller in finding a buyer for a property
- Contract between a buyer and seller
- Written contract between a seller and a broker, in which the seller hires the broker to find a buyer for the property.
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• Closing
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• Listing agent
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• Purchase agreement
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• Listing
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