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Lesson 11 – Ch 10 Vocabulary Quiz

Posted on March 2, 2023 by
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  1. Question 1 of 19
    1. Question

    A state statute that governs the licensing and business practices of real estate agents

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  2. Question 2 of 19
    2. Question

    A person who is licensed to represent others for compensation in real estate transactions

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  3. Question 3 of 19
    3. Question

    A broker who works for another broker.

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  4. Question 4 of 19
    4. Question

    A person who is licensed to work for and represent a broker in real estate transactions

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  5. Question 5 of 19
    5. Question

    Any real estate licensee who works for a broker, whether licensed as a broker, associate broker, or salesperson

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  6. Question 6 of 19
    6. Question

    Legal action taken by the director of the real estate licensing agency against a licensee for violations of the license law, which may lead to license suspension or revocation

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  7. Question 7 of 19
    7. Question

    In some states, an account funded by license fees that is used to compensate members of the public injured by the unlawful acts of a real estate licensee, when they can’t collect a judgment from the licensee

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  8. Question 8 of 19
    8. Question

    Funds held by a broker on behalf of clients or customers

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  9. Question 9 of 19
    9. Question

    Mixing trust funds together with a broker’s personal funds or general business funds

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  10. Question 10 of 19
    10. Question

    A bank account used to keep trust funds segregated from the broker’s personal funds and general business funds

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  11. Question 11 of 19
    11. Question

    When a real estate licensee takes trust funds and uses them for her own purposes

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  12. Question 12 of 19
    12. Question

    An advertisement placed by a licensee that fails to disclose the name of the licensee’s broker and/or fails to indicate that the ad was placed by a real estate agent

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    Incorrect
  13. Question 13 of 19
    13. Question

    A prize, gift, or rebate used to encourage a member of the public to attend a sales presentation

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  14. Question 14 of 19
    14. Question

    The cooperative setting of prices by competing firms

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  15. Question 15 of 19
    15. Question

    An agreement between two or more real estate brokers to exclude other brokers from fair participation in real estate activities

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  16. Question 16 of 19
    16. Question

    An agreement to sell one product only on the condition that the buyer also purchases a different product

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  17. Question 17 of 19
    17. Question

    An agreement between broker not compete with each other in certain areas or markets

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  18. Question 18 of 19
    18. Question

    Match the following words to their correct definition

    Sort elements
    • conversion
    • blind ad
    • Inducement
    • When a real estate licensee takes trust funds and uses them for her own purposes
      • An advertisement placed by a licensee that fails to disclose the name of the licensee's broker and/or fails to indicate that the ad was placed by a real estate agent
        • A prize, gift, or rebate used to encourage a member of the public to attend a sales presentation
          Correct
          Incorrect
        • Question 19 of 19
          19. Question

          Match the following words to their correct definitions

          Sort elements
          • price fixing
          • group boycott
          • tie-in arrangement
          • The cooperative setting of prices by competing firms
            • An agreement between two or more real estate brokers to exclude other brokers from fair participation in real estate activities
              • An agreement to sell one product only on the condition that the buyer also purchases a different product
                Correct
                Incorrect

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