Question: For leases longer than three years in Ohio, which additional requirement must be met?
Answer Options:
A. They must be acknowledged by a notary public and have two witnesses.
B. They must be approved by a local housing authority.
C. They must be renewed annually in writing.
D. They must be signed by at least three witnesses.
Answer: A. They must be acknowledged by a notary public and have two witnesses. 30.
Question: A buyer’s agent is representing two different clients who both want to make offers on the same property. The agent has properly disclosed the contemporaneous offer situation to both clients. What information about the other client’s offer can the agent share?
Answer Options:
A. The other client’s name, but not their offer terms
B. The other client’s offer terms, but not their name
C. Both the other client’s name and offer terms with mutual consent
D. Neither the other client’s name nor their offer terms
Answer: D. Neither the other client’s name nor their offer terms 31.
Question: Which of the following is a permitted activity for unlicensed staff in an Ohio real estate office?
Answer Options:
A. Answering questions about property pricing
B. Hosting open houses
C. Negotiating contracts
D. Scheduling appointments for licensees
Answer: D. Scheduling appointments for licensees 32.
Question: What is the primary authority that determines whether a real estate licensee has engaged in the unauthorized practice of law in Ohio?
Answer Options:
A. The Ohio Attorney General’s Office
B. The Ohio Bar Association
C. The Ohio Real Estate Commission
D. The Ohio Supreme Court
Answer: D. The Ohio Supreme Court 33.
Question: On a listing appointment, a seller asks an Ohio licensee to act as a transaction broker rather than as a fiduciary. How should the licensee respond?
Answer Options:
A. The licensee can act as a transaction broker but must still fulfill certain fiduciary duties.
B. The licensee can agree to this arrangement by having the seller sign a transaction brokerage agreement.
C. The licensee should explain that transaction brokerage is not recognized in Ohio.
D. The licensee should tell the seller that this is possible only with the written consent of the buyer.
Answer: C. The licensee should explain that transaction brokerage is not recognized in Ohio. 34.
Question: A property is being sold as is, and the purchase agreement includes an as is clause. The seller knowingly fails to disclose a significant roof leak on the Residential Property Disclosure Form. What is the legal implication?
Answer Options:
A. The as is clause protects the seller from any liability for undisclosed defects.
B. The buyer can only seek compensation from the listing agent, not the seller.
C. The buyer has no recourse because they agreed to purchase the property as is.
D. The seller remains liable for fraud despite the as is clause.
Answer: D. The seller remains liable for fraud despite the as is clause. 35.
Question: If a real estate licensee wants to transfer from their current brokerage to a new one, what must they do first, according to Ohio regulations?
Answer Options:
A. Complete additional continuing education requirements.
B. File a transfer application with the Division of Real Estate & Professional Licensing.
C. Provide written notice to their current principal broker.
D. Return their license to the superintendent.
Answer: C. Provide written notice to their current principal broker. 36.
Question: Real estate licensee Andrew is selling his own personal residence. Which statement is TRUE regarding his advertising requirements?
Answer Options:
A. Andrew is exempt from all advertising requirements when selling his personal residence.
B. Andrew is not required to identify himself as a licensee in the advertisements.
C. Andrew must include his brokerage name in all advertisements, regardless of whether he lists the property with his brokerage.
D. If Andrew lists his property with his brokerage, he must include the brokerage name and identify the property as “agent owned.”
Answer: D. If Andrew lists his property with his brokerage, he must include the brokerage name and identify the property as “agent owned.” 37.
Question: Which of the following statements about a management level licensee is TRUE?
Answer Options:
A. They can be either a licensed broker or salesperson with supervisory responsibilities.
B. They can only supervise salespersons, not other brokers.
C. They can relieve the principal broker of all legal responsibilities.
D. They must be licensed as a broker, not as a salesperson.
Answer: A. They can be either a licensed broker or salesperson with supervisory responsibilities. 38.
Question: In a brokerage that operates under the Split Agency But No Dual Agency model, licensee Pat represents a seller. Pat’s buyer client becomes interested in Pat’s listing. What must occur?
Answer Options:
A. The buyer can ask the broker to appoint a different licensee to represent them.
B. Pat can represent both parties with written consent.
C. Pat must continue representing the seller; the buyer must represent themselves.
D. Pat must withdraw from the transaction entirely.
Answer: A. The buyer can ask the broker to appoint a different licensee to represent them. 39.
Question: In Ohio, what creates a split agency situation?
Answer Options:
A. When a broker assigns different aspects of a transaction to different agents
B. When a broker represents both buyer and seller in the same transaction
C. When two brokerages cooperate on a single transaction
D. When two licensees in the same brokerage are individually appointed to represent each party
Answer: D. When two licensees in the same brokerage are individually appointed to represent each party 40.
Question: Each of the following is required in a brokerage’s written company policy on agency relationships EXCEPT for which?
Answer Options:
A. Procedures to ensure the protection of confidential information
B. A list of all current clients and their contact information
C. Procedures for appointing licensees to represent clients
D. Types of agency relationships the brokerage may establish
Answer: B. A list of all current clients and their contact information 41.
Question: The superintendent CANNOT issue a citation for what type of violation?
Answer Options:
A. Discriminatory housing language
B. False advertising
C. Lack of agency disclosure
D. Trust account mismanagement
Answer: D. Trust account mismanagement 42.
Question: According to Ohio regulations, what is the maximum number of brokerages for which a licensed broker can serve as principal broker?
Answer Options:
A. 1 brokerage
B. 3 brokerages
C. 5 brokerages
D. There is no limit, as long as they can effectively manage them all.
Answer: C. 5 brokerages 43.