Law Of Agency – Champions Exam Questions And Answers Latest Top Score.
1 view 0 purchase
Course
Law of Agency - Champions
Institution
Law Of Agency - Champions
Law Of Agency – Champions Exam Questions And Answers Latest Top Score.
Which of the following has the authority to suspend or revoke a Texas real estate license? - correct answer. TREC
Which of the following is an element of a listing agreement? - correct answer. the agree...
Law Of Agency – Champions Exam
Questions And Answers Latest Top Score.
Which of the following has the authority to suspend or revoke a Texas real estate
license? - correct answer. TREC
Which of the following is an element of a listing agreement? - correct 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? -
correct 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: - correct 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: - correct answer. The
licensee did not know of the falsity of the misrepresentation
One who hires an agent to represent him is called a: - correct answer. principal
It is always a good idea to have: - correct 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. - correct answer. false
Which of the following is a statutory defense for a lawsuit brought about by DTPA? -
correct 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. -
correct answer. true
Actual awareness of a falsity, deception, or unfairness of an act under DTPA is known
as: - correct answer. knowingly
The TREC was established in: - correct answer. 1949
an exemption to using the Information About Brokerage Services form is: - correct
answer. a lease for not more than 1 year
listings can be terminated at any time by mutual agreement - correct answer. true
fiduciaries are: - correct answer. Held to the highest degree of good faith, Required to
exclude selfish interest, Require to make disclosures of all relevant facts
According to TREC advertising rules, the definition of advertisement includes all of the
following, EXCEPT: - correct answer. Communication from a licensee to his or her
client
real estate agents owe certain non-fiduciary duties to customers such as: - correct
answer. honesty and fairness
an unlicensed assistant may: - correct answer. host an open house
the best way to create an agency relationship is to do so: - correct answer. in writing
a licensee must present the information about brokerage services form: - correct
answer. at the first substantive discussion of a possible transaction
when actions lead another person to assume that one is an agent, this is known as: -
correct answer. ostensible agency
listings may be terminated by: - correct answer. death, insanity, mutual agreement
when one person acts for another on their behalf it is known as: - correct answer. an
agency relationship
Whether or not to appoint associates in an intermediary real estate transaction is: -
correct answer. At the discretion of the broker
In Texas, Worker's Compensation must be paid for real estate agents by brokers: -
correct answer. false
unlicensed assistants may: - correct answer. be a transaction coordinator
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 techgrades. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
