MULTIPLE CHOICE QUESTIONS, PLEASE ANSWER CORRECTLY 1. Multiple representation is

Question

MULTIPLE CHOICE QUESTIONS, PLEASE ANSWER CORRECTLY

1. Multiple representation is one form of agency relationship a BROKERAGE can have with buyers and sellers. Which one of the following is an example of a multiple representation scenario?

a.ABC Realty Inc represents both the buyer and the seller in a transaction as a client

b.ABC Realty Inc represents the seller as a client and XYZ Real Estate Limited represents the buyer as a client

c.ABC Realty Inc represents the seller as a client and is providing customer services to the buyer

D.Both ABC Realty Inc and XYZ Real Estate Limited have c0-listed a property and representthe seller as a client

2.Which of the following is a correct statement as it relatrs to conventional and high ratio mortgages?

a.A high ration motgage is a mortgage that exceeds 80% of the appraised lending value of a property

b.It is a requirement of the mortage Act that a mortgagor obtains life insurance as a conditionof approval for a high ratio mortgage

c.All mortgage default insurance of high ratio mortgages is provided by the Canada Mortage and Housing Corportation

d. A conventional mortgage is so named as it is funded through a private lender

Explanation / Answer

1. Multiple agency is also known as the dual agency and it represents the buyer's side as well as seller's side in a transaction.

So. a) ABC reality Inc represents both the buyer and the seller in a transaction as a client.

Related Questions

Navigate

• Browse (All)
• Browse M
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.