Free West Virginia Agency Practice Test — LicenseIQ

Question 1

Which fiduciary duty continues even after the agency relationship has ended?

Accepted Answer

Most fiduciary duties end with the agency, but the agent must continue to keep the former client's confidential information private.

Question 2

During a listing walk-through, the agent notices fresh paint on one ceiling area and a musty odor. The agent should:

Accepted Answer

Agents are not inspectors, but must recognize red flags (stains, odors, cracks) and disclose them for further investigation.

Question 3

The best way to create an agency relationship is a(n):

Accepted Answer

A written express agreement clearly defines parties, duties and compensation and is enforceable.

Question 4

A seller knows that the basement flooded last spring, but the damage was repaired and is not visible. The seller and listing agent must:

Accepted Answer

Latent (hidden) defects known to the seller or agent must be disclosed; failing to do so can create liability for both.

Question 5

An agency relationship can be terminated by all of the following EXCEPT:

Accepted Answer

Agency ends by performance, expiration, mutual agreement, operation of law, death or incapacity, or destruction of the property - not by the wish of an unrepresented customer.

Question 6

Under §30-40-26(d), the written agency disclosure must be made before any person signs which of the following?

Accepted Answer

The statute requires disclosure before anyone signs a representation contract or a sale or purchase contract, so agency is known before commitments are made.

Question 7

Under what condition may a West Virginia licensee act as agent for both buyer and seller?

Accepted Answer

174CSR1 §16 and §30-40-19(a)(7) permit representing more than one party only with written consent of all parties. Dual agency is legal with consent.

Question 8

A buyer's agent receives a verbal offer from her client. What must she do?

Accepted Answer

Failing to reduce a bona fide offer to writing is a ground for discipline (§30-40-19(a)(43)), and every written offer must be promptly delivered to the principal (§30-40-26(e)).

Question 9

A rental agent tells an applicant of a particular national origin that an available apartment has been rented. This is:

Accepted Answer

Section 16B-18-5(d) prohibits representing that a dwelling is unavailable when it is available, based on a protected class. No exemption covers national origin discrimination.

Question 10

When a broker appoints one salesperson to represent the seller and another salesperson in the same office to represent the buyer, this is:

Accepted Answer

Designated agency assigns separate agents within one brokerage; the broker is still a dual agent and written consent is required.

Question 11

A seller has already accepted an offer, and another buyer submits a higher offer. The listing agent should:

Accepted Answer

Listing agents must present all offers through closing, but should not give legal advice about the seller's obligations under the existing contract.

Question 12

A pipeline company's agent negotiates the purchase of rights of way from landowners. Does the agent need a real estate license?

Accepted Answer

Section 30-40-5(c)(7) exempts persons acquiring or disposing of timber or mineral interests and acquiring property for easements and rights of way.

Question 13

The client a broker represents is the:

Accepted Answer

The principal is the client to whom the agent owes fiduciary duties; a customer is a party the agent works with but does not represent.

Question 14

A buyer customer decides to sign a buyer agency agreement, making the earlier agency disclosure inaccurate. What must the licensee do?

Accepted Answer

174CSR1 §16 requires a corrected form whenever a change in agency status makes a prior disclosure inaccurate, incomplete or misleading, presented immediately and acknowledged in writing by all parties.

Question 15

Which duty does a seller's agent owe to a buyer who is a customer, not a client?

Accepted Answer

Customers are owed HARD duties - Honesty, Accounting, Reasonable skill and care, and Disclosure of material facts - but not loyalty, obedience or confidentiality.

Question 16

A licensee posts a 'For Sale' sign on a vacant lot without any agency relationship or the owner's written consent. This is:

Accepted Answer

Section 30-40-19(a)(10) prohibits placing a sale or rent sign without an agency relationship or the owner's knowledge and written consent.

Question 17

A listing agent knows the seller will accept $20,000 less than list price. A buyer asks, 'Will they take less?' The agent should:

Accepted Answer

The duty of confidentiality bars disclosing information, like the seller's lowest acceptable price, that would harm the client's bargaining position.

Question 18

A member of a real estate team signs an agency form with a buyer. What does the rule require regarding the other team members?

Accepted Answer

174CSR1 §16 requires all team members to be listed on or attached to any agency form signed by a team member.

Question 19

A listing agent calls a buyer directly to negotiate repairs, knowing the buyer is exclusively represented by another broker who has not authorized the contact. This is:

Accepted Answer

Section 30-40-19(a)(39) prohibits negotiating directly with a person exclusively represented by another broker unless that broker authorizes it.

Question 20

A material defect that a seller/agent must disclose is one that:

Accepted Answer

Material defects significantly affect value or would influence a buyer's decision and must be disclosed.

Question 21

A property manager owes fiduciary duties primarily to the:

Accepted Answer

The property manager is the owner's (general) agent and owes fiduciary duties to the owner, while dealing honestly with tenants.

Question 22

A property manager authorized to collect rents, sign leases, hire contractors and run the owner's buildings on an ongoing basis is typically a:

Accepted Answer

A general agent handles a range of matters in a continuing relationship (typical of property management). A listing agent is a special (limited) agent for one transaction.

Question 23

A buyer asks his agent to pick an attorney for him and arrange the engagement. Under §30-40-19, the agent may NOT:

Accepted Answer

Section 30-40-19(a)(20) prohibits procuring an attorney for a client or customer or soliciting legal business for an attorney. Providing names and suggesting legal review are not procuring.

Question 24

A buyer's agent's brother owns a home that fits the buyer's needs. Before showing it, the agent must:

Accepted Answer

Any personal or financial interest of the agent or family must be disclosed up front so the client can make an informed decision.

Question 25

A licensee never signs a buyer agreement but repeatedly gives a buyer negotiating advice and acts on his behalf. An agency relationship may have been created by:

Accepted Answer

Implied agency arises from conduct; the agent then owes full fiduciary duties. Express agency is created by stated agreement, ideally in writing.

West Virginia real estate agency practice test

1. Which fiduciary duty continues even after the agency relationship has ended?

2. During a listing walk-through, the agent notices fresh paint on one ceiling area and a musty odor. The agent should:

3. The best way to create an agency relationship is a(n):

4. A seller knows that the basement flooded last spring, but the damage was repaired and is not visible. The seller and listing agent must:

5. An agency relationship can be terminated by all of the following EXCEPT:

6. Under §30-40-26(d), the written agency disclosure must be made before any person signs which of the following?

7. Under what condition may a West Virginia licensee act as agent for both buyer and seller?

8. A buyer's agent receives a verbal offer from her client. What must she do?

9. A rental agent tells an applicant of a particular national origin that an available apartment has been rented. This is:

10. When a broker appoints one salesperson to represent the seller and another salesperson in the same office to represent the buyer, this is:

11. A seller has already accepted an offer, and another buyer submits a higher offer. The listing agent should:

12. A pipeline company's agent negotiates the purchase of rights of way from landowners. Does the agent need a real estate license?

13. The client a broker represents is the:

14. A buyer customer decides to sign a buyer agency agreement, making the earlier agency disclosure inaccurate. What must the licensee do?

15. Which duty does a seller's agent owe to a buyer who is a customer, not a client?

16. A licensee posts a 'For Sale' sign on a vacant lot without any agency relationship or the owner's written consent. This is:

17. A listing agent knows the seller will accept $20,000 less than list price. A buyer asks, 'Will they take less?' The agent should:

18. A member of a real estate team signs an agency form with a buyer. What does the rule require regarding the other team members?

19. A listing agent calls a buyer directly to negotiate repairs, knowing the buyer is exclusively represented by another broker who has not authorized the contact. This is:

20. A material defect that a seller/agent must disclose is one that:

21. A property manager owes fiduciary duties primarily to the:

22. A property manager authorized to collect rents, sign leases, hire contractors and run the owner's buildings on an ongoing basis is typically a:

23. A buyer asks his agent to pick an attorney for him and arrange the engagement. Under §30-40-19, the agent may NOT:

24. A buyer's agent's brother owns a home that fits the buyer's needs. Before showing it, the agent must:

25. A licensee never signs a buyer agreement but repeatedly gives a buyer negotiating advice and acts on his behalf. An agency relationship may have been created by:

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