Texas Law Of Agency Exam Questions And Answers All Verified
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Course
Texas Law Of Agency
Institution
Texas Law Of Agency
Texas Law Of Agency Exam Questions And Answers All Verified
1-1
A special agent is also referred to as a(n): - ANS limited agent
1-2
The role of the _____ never changed in a listing or buyer representation agreement: - ANS third party
1 Exam
In Texas, a broker may offer a limited for...
1-1
A special agent is also referred to as a(n): - ANS limited agent
K
1-2
The role of the _____ never changed in a listing or buyer representation agreement: - ANS
third party
C
1 Exam
In Texas, a broker may offer a limited form of representation to both parties called: - ANS
LO
intermediary
1 Exam
The role of each cast member (agent, principal, third party) plays is determined by the type of
_____ used. - ANS employment agreement
YC
1 Exam
A(n) _____ is someone who seeks the services of a real estate broker without the protection of
an agency relationship. - ANS customer
1 Exam
D
A(n) _____ is a written document that gives a person legal authority to act on behalf of another
person. - ANS power of attorney
U
1 Exam
Agency relationships are party of the body of law called the: - ANS law of agency
ST
1 Exam
A broker is a person who holds a broker license issued by: - ANS TREC
1 Exam
In a real estate agency relationship, an agent is anyone who acts on behalf of another. Though
a salesperson can and does act on behalf of a client, the formal relationship is with the: - ANS
broker
1 Exam
A client is represented by a(n): - ANS agent
, 2 Exam
A new listing comes on the market and you immediately show it to your buyer-client. The next
day, the listing agent informs you that the sellers are moving out-of-state and need the property
sold by the end of the month. As a buyer's agent, you are: - ANS required to disclose this
information ASAP
(your client is entitled to know whatever facts you know as soon as you have knowledge.)
2 Exam
Reasonable care, also known as due care, refers to: - ANS the amount of care that an
average, rational person would take under the same or similar circumstances.
K
2 Exam
A listing agent must disclose to a third party all of the following, except: - ANS -known defects
C
in the property
-AN AGENT'S OPINION OF VALUE OF PRICE
-soil or drainage problems
LO
-matters affecting title
2 Exam
As a listing agent, which of the following requires disclosure to both buyer and seller? - ANS
-CONDITIONS AFFECTING TITLE
YC
-ITEMS RELATING TO SURVEY OR LOGICAL INFO
-ENVIRONMENTAL ISSUES OR HEALTH SAFETY HAZARDS
2 Exam
The willingness to follow the orders of others is known as: - ANS obedience
D
2 Exam
Information shared between agent and client should remain in confidence: - ANS -UNLESS
THE CLIENT PROVIDES WRITTEN PERMISSION FOR IT TO BE DISCLOSED
U
-until the other party asks
-EVEN AFTER THE TRANSACTION HAS BEEN COMPLETED
ST
2 Exam
What is a fiduciary duty of the agent? - ANS acting with the utmost trust, confidence, honesty,
and loyalty.
2 Exam
Puffing is a statement of _____ that is not factual, about a piece of property. - ANS opinion
(puffing describes an opinion made by an agent who honestly believes that the inflated
statement about the condition of a property is just another innocent way to make a sale.)
2 Exam
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