BC Real Estate Trading Services Course Agency and Disclosures 2

Question 1

A buyer's agent who also represents the seller in the same transaction is acting as a:

Accepted Answer

Dual agent

Answer

Single agent

Answer

Sub-agent

Answer

Transaction broker

Question 2

Which disclosure document must a BC licensee provide to a buyer at the first opportunity?

Accepted Answer

Working with a REALTOR disclosure

Answer

Property Disclosure Statement

Answer

Agency Disclosure Form

Answer

Title Search Summary

Question 3

A real estate licensee owes fiduciary duties ONLY to their:

Accepted Answer

Client (the party they represent)

Answer

All parties in the transaction

Answer

The seller in every transaction

Answer

Both buyer and seller equally

Question 4

Under BC's Real Estate Services Act, a 'client' is best defined as:

Accepted Answer

A person who has entered into a service agreement with a brokerage

Answer

Any person who contacts a licensee for information

Answer

Only property sellers who list with the brokerage

Answer

Any buyer who tours a property

Question 5

Which of the following is an example of an agent's duty of confidentiality being breached?

Accepted Answer

Revealing to the buyer that the seller will accept less than the asking price

Answer

Telling the buyer the list price of the property

Answer

Informing the buyer of known material defects

Answer

Providing the buyer with comparable sales data

Question 6

When must a BC licensee disclose that they have a personal interest in a property they are helping a client purchase?

Accepted Answer

Before any offer is written

Answer

Only after an offer is accepted

Answer

At the time of listing

Answer

Disclosure is optional if the interest is minor