Are You Practicing Safe Buyer Agency? Take this quick 40 question quiz to assess your risk as a buyer's agent. You will get your score immediately. Good Luck on the test! 20 Multiple Choice Questions: 1. The type of agency that is illegal in every state is -- disclose implied care document ministerial obey decide agent customer open vicarious do subagent undisclosed expressed client single loyal accountable gratuitous dual agency. 2. One of the fiduciary/statutory duties of the agent requires the agent to be -- disclose implied care document ministerial obey decide agent customer open vicarious do subagent undisclosed expressed client single loyal accountable gratuitous to the goals of the client. 3. Another fiduciary/statutory duty requires the agent to be -- disclose implied care document ministerial obey decide agent customer open vicarious do subagent undisclosed expressed client single loyal accountable gratuitous for monies and paperwork left in their possession. 4. The legal theory of -- disclose implied care document ministerial obey decide agent customer open vicarious do subagent undisclosed expressed client single loyal accountable gratuitous liability may make the client responsible for the actions and potential misrepresentation of the agent or subagent unless statutorily limited. 5. When an agent provides free advice, counsel, or exercises judgment on behalf of a consumer who has not hired them to do so, they are said to be practicing -- disclose implied care document ministerial obey decide agent customer open vicarious do subagent undisclosed expressed client single loyal accountable gratuitous agency. 6. The type of agency established by your words and actions, often unintentional, is an -- disclose implied care document ministerial obey decide agent customer open vicarious do subagent undisclosed expressed client single loyal accountable gratuitous agency relationship. 7. Our primary duty as an agent is that of reasonable -- disclose implied care document ministerial obey decide agent customer open vicarious do subagent undisclosed expressed client single loyal accountable gratuitous and diligence as a competent professional. 8. The designated broker of the company is the true -- disclose implied care document ministerial obey decide agent customer open vicarious do subagent undisclosed expressed client single loyal accountable gratuitous , the one with the authority to act on behalf of another. 9. The agent of the agent is the -- disclose implied care document ministerial obey decide agent customer open vicarious do subagent undisclosed expressed client single loyal accountable gratuitous . 10. One of your fiduciary/statutory duties as the agent or subagent is to -- disclose implied care document ministerial obey decide agent customer open vicarious do subagent undisclosed expressed client single loyal accountable gratuitous the client's lawful instructions. 11. The person you work with and provide ministerial acts, honesty, and disclosure of material information is called the -- disclose implied care document ministerial obey decide agent customer open vicarious do subagent undisclosed expressed client single loyal accountable gratuitous . 12. An agency agreement that protects both parties because the terms have been reduced to writing is called an -- disclose implied care document ministerial obey decide agent customer open vicarious do subagent undisclosed expressed client single loyal accountable gratuitous agency relationship. 13. The person you work for and provide fiduciary/statutory duties on behalf of is called the -- disclose implied care document ministerial obey decide agent customer open vicarious do subagent undisclosed expressed client single loyal accountable gratuitous . 14. An -- disclose implied care document ministerial obey decide agent customer open vicarious do subagent undisclosed expressed client single loyal accountable gratuitous agency relationship allows a buyer client to work with a number of agents at the same time. 15. A -- disclose implied care document ministerial obey decide agent disclosed dual customer open vicarious do subagent undisclosed expressed client single loyal accountable gratuitous agency company can represent both buyer and sellers in a transaction, offering full client-level service, but cannot represent both in a single transaction. 16. -- disclose implied care document ministerial obey decide agent customer open vicarious do subagent undisclosed expressed client single loyal accountable gratuitous acts do not create an agency relationship. 17. An agent must -- disclose implied care document ministerial obey decide agent customer open vicarious do subagent undisclosed expressed client single loyal accountable gratuitous whether they will work with the consumer as a customer or as a client. 18. A diligent buyer agent will -- disclose implied care document ministerial obey decide agent customer open vicarious do subagent undisclosed expressed client single loyal accountable gratuitous to all other agents and sellers the consumer's decisions as to the service level they have chosen. 19. A diligent agent will -- disclose implied care document ministerial obey decide agent customer open vicarious do subagent undisclosed expressed client single loyal accountable gratuitous that choice, the services to be delivered, and any commitments or responsibilities to the consumer. 20. Agents must always -- disclose implied care document ministerial obey decide agent customer open vicarious do subagent undisclosed expressed client single loyal accountable gratuitous what they have agreed to and are obligated to perform under the fiduciary/statutory laws, regulations and the agreement they have signed with their client. 20 True/False Questions 1. An open agency relationship allows a buyer client to work with a number of agents at the same time. True False 2. A single agency company can represent both buyers and sellers in a transaction, offering full client-level service, but cannot represent both in a single transaction. True False 3. All consumers get customer level service. Some also contract for client level services in addition to the basic services. True False 4. Ministerial acts do not create an agency relationship. True False 5. The consumer who hires the agent has the ultimate responsibility for fee payment. True False 6. The most common method of payment is for the buyer's agent to be paid directly by the buyer. True False 7. The most important aspect of the buyer agency presentation process is the fact that the agent must be able to fulfill the commitments made to the buyer. True False 8. The buyer's agent is limited to showing listed properties where a coop fee is offered to the buyer's agent. True False 9. The buyer client can limit his agent's duties to showing only those properties where a minimum coop fee is offered. True False 10. A buyer who wished to shop on their own for FSBO or contractor homes should be placed under an exclusive right to represent. True False 11. The best price is received in negotiations when the seller is asked to take fewer risks. True False 12. The danger of testing the waters on price is the danger of offending the seller. True False 13. A buyer's agent would be obligated to disclose to their buyer client information received as the previous listing agent of the property. True False 14. A customer is owed the duties of loyalty and obedience to lawful instructions. True False 15. It is not necessary for the licensee to tell a consumer the alternatives and options when asking for informed consent to represent. True False 16. The possibility of dual agency is a potential limitation on services and the agency relationship that should be documented through the buyer agency agreement. True False 17. A potential conflict of interest exists when two buyer clients want to purchase the same property. True False 18. Practicing as a buyer's agent increases the risk of the agent over treating the buyer as a customer. True False 19. Material information to the buyer should be verified through adequate research. True False 20. Though buyer agency skills mirror seller agency, the duties of diligence, discovery, and disclosure of information regarding the transactions are enhanced, increasing the potential risk to the buyer agent. True False To find out your score, fill out your name and email address, and click on the button below. Your test results will be emailed to you immediately. We do not sell our list. 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