Law of Agency – Champions Exam Questions and Answers (Graded A)
326 views 2 purchases
Course
Law of Agency – Champions
Institution
Law Of Agency – Champions
Which of the following has the authority to suspend or revoke a Texas real estate license? - Answer- TREC
Which of the following is an element of a listing agreement? - Answer- the agreement to pay a stated commission, usually a percentage of the sales price
the IRS considers which of the fol...
Law of Agency – Champions Exam Questions and Answers (Graded A)
Which of the following has the authority to suspend or revoke a Texas real estate license? - Answer- TREC
Which of the following is an element of a listing agreement? - Answer- the agreement to
pay a stated commission, usually a percentage of the sales price
the IRS considers which of the following a violation of independent contractor status? - Answer- salesperson is told to work set hours, guaranteed a monthly minimum wage, has his licensing fees paid by the broker
the TAR buyer representation agreement in or text book: - Answer- authorizes intermediary, authorizes the buyer to give the agent complete loyalty, establishes an exclusive market area
The amendments in 1996 to the License Act state that an agent is not liable for a misrepresentation or concealment of material fact by a party if: - Answer- The licensee did not know of the falsity of the misrepresentation
One who hires an agent to represent him is called a: - Answer- principal
It is always a good idea to have: - Answer- The seller fill out the Seller's Disclosure Notice
A real estate brokerage firm that practices buyer agency only has a lot of intermediary transactions. - Answer- false
Which of the following is a statutory defense for a lawsuit brought about by DTPA? - Answer- Written information obtained from a government record
A licensee is not liable for a misrepresentation or a concealment of a material fact made
by a party to a real estate transaction if the seller did not disclose it to the agent. - Answer- true
Actual awareness of a falsity, deception, or unfairness of an act under DTPA is known as: - Answer- knowingly
The TREC was established in: - Answer- 1949
an exemption to using the Information About Brokerage Services form is: - Answer- a lease for not more than 1 year
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller millyphilip. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.89. You're not tied to anything after your purchase.
