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Real Estate Salesperson Exam — National Portion

Agency (VT): practice questions

Our Real Estate (National) bank has 4 questions on this topic. Here are 4 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1 · Vermont

In a Vermont Non-Designated Agency Firm, who owes fiduciary duties to the firm's clients?

  1. Only licensees in the listing office
  2. The firm and all of its licensees
  3. Only the licensee who signed the agreement
  4. Only the principal broker
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B. The firm and all of its licensees — Vt. Real Estate Comm'n Rule 1.8(r), 4.3(b).

Question 2 · Vermont

A Vermont brokerage firm may elect designated agency only if it has how many licensees?

  1. At least ten
  2. More than five across two offices
  3. More than two
  4. Any number, with Commission approval
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C. More than two — Vt. Real Estate Comm'n Rule 4.4(a).

Question 3 · Vermont

If a Vermont client refuses to consent to a disclosure the licensee says is necessary, what must the licensee do?

  1. Keep representing the client and note it in the file
  2. Make the disclosure anyway and notify the Commission
  3. Withdraw from the agency relationship
  4. Ask the principal broker to decide whether to disclose
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C. Withdraw from the agency relationship — Vt. Real Estate Comm'n Rule 4.5(b).

Question 4 · Vermont

Which service may a Vermont brokerage firm NOT offer under the Commission's agency rules?

  1. Acting as a dual agent or transactional broker for both sides
  2. Representing a buyer while dealing with an unrepresented seller
  3. Using an MLS participation agreement for cooperation
  4. Paying a referral fee to another state's brokerage firm
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A. Acting as a dual agent or transactional broker for both sides — Vt. Real Estate Comm'n Rule 4.3(d), 4.4(e), 4.11(e), 4.13(b).

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