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Creating and terminating agency relationship quiz With correct answers
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Creating and terminating agency relationship quiz With correct answers
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creating and terminating agencyrelationship quiz
A(n) ________ is a written document that gives a person legal authority to act on behalf of another
person. - correct answer ✔✔power of attorney
The broker is obligated to ________ after the agency relationship is terminated. - correct answer
✔✔keep a client's information confidential
Identify the power of attorney that is used to allow the agent to handle specific matters when the
principal is unavailable or unable to do so. - correct answer ✔✔Special Power of Attorney
An agent and principal have no agreement, but the third party reasonably believes they do; it would be
unjust not to let the third party rely on that belief. This scenario is an example of which of the following?
- correct answer ✔✔Apparent Agency
When does an agent's authority cease if a property is condemned or destroyed? - correct answer
✔✔Upon notice of the fact
Ideally, the best way to terminate an agency relationship agreement is through: - correct answer
✔✔fulfillment of the agreement.
Which of the following does not occur when the agent is a real estate broker and dies? - correct answer
✔✔The agency coupled with an interest is terminated
After the agency relationship is terminated: - correct answer ✔✔each party may have certain rights
stemming from that relationship.
The duty of confidentiality extends how long past revocation or termination of the brokerage
agreement? - correct answer ✔✔One year past the revocation or termination of the brokerage
agreement
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