Law Of Agency Quiz's 1-12 Champions
Questions And Answers With Verified
Solutions Already Passed {GRADED A+}
(Chapter 1) An agency relationship exists when one person, the __________, acts
for or on behalf of another person, the __________. - ANSWER✔✔ Agent,
principle
Which of the following is grounds for suspension or revocation of a real estate
license by TREC? - ANSWER✔✔ Splitting a commission with a person other than
a license holder
The commission can deny licensure to an applicant based on the applicant's
__________. - ANSWER✔✔ Determination of fitness
(Chapter 2) What form must an agent provide to a potential client at the first
substantive discussion of a real estate transaction? - ANSWER✔✔ Information
About Brokerage Services (IABS)
An example of a general agent in the world of real estate would be a(n)
__________. - ANSWER✔✔ Property manager
Which of the following would NOT be an example of the fiduciary duty of
reasonable care? - ANSWER✔✔ Taking the buyer or seller out to dinner when the
transaction closes
(Chapter 3) Seller Kristin meets with agent Angel and likes his plan for marketing
her home. She decides to sign a listing agreement with him, thereby creating a
__________ relationship. - ANSWER✔✔ Special agency
, Broker Susan is representing the seller at We Sell it Fast Realty while Broker
Daniel from Daniel Daniel's Properties is working with a buyer customer. Susan is
representing the seller. Who is Daniel representing? - ANSWER✔✔ The buyer
In Texas, there is no __________ agency relationship with any party to a
transaction. - ANSWER✔✔ Implied
(Chapter 4) A broker's responsibility for disclosure is limited to areas: -
ANSWER✔✔ Accessible for visual inspection
According to TREC's advertising rules, which of the following terms MUST be
used in a real estate team name? - ANSWER✔✔ Group
TREC's Advertising rules require sales agents to include the broker's name, the
brokerage name, or broker's __________ in at least 50% of the largest contact
information font on all forms of advertising. - ANSWER✔✔ Assumed name
(Chapter 5) All listing agreements must have a definite __________. -
ANSWER✔✔ Termination date
Subagency is: - ANSWER✔✔ When a license holder not associated with the
seller's broker is representing the seller through a cooperative agreement with the
seller's broker
A license holder is not required to provide the IABS when the license holder meets
with a party who is: - ANSWER✔✔ Represented by another license holder
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