Brokerage definition - Study guides, Class notes & Summaries

Real Estate test bank Exam Questions and answers 100% correct1. Brokerage definition... the business practice of bringing together the parties in a practice. 2. What are two examples of special use property? schools and cemetary 3. What is an example of functional obsolescence? bathroom 4. Principal definition... a consumer of real estate services who has entered into an agency relationship with a broker or another licensee employed by a broker. 5. Capitalization ...

Real Estate Practice Exam Questions Answered 100% Correctly 2024 Real Estate Practice Exam Questions Answered 100% Correctly 2024 1. Brokerage definition... the business practice of bringing together the parties in a practice. 2. What are two examples of special use property? schools and cemetary 3. What is an example of functional obsolescence? bathroom 4. Principal definition... a consumer of real estate services who has entered into an agency relationship with a broker or another ...

Oregon Practices Final Exam Review Questions and answers, with rationale. graded A+/ verified. A broker is a person who: a. is employed by another person b. has the authority to act for another person c. has the authority to exercise some discretion while acting for another person d. all of the above - -all of the above Feedback: All of the above comprise the definition of a broker. The correct answer is "d". Question #2: The person who hires or appoints a broker to act on his/her beha...

The foundation upon which real estate brokerage is practiced correct answers Agency A legal and ethical relationship created between a real estate firm and a party to a transaction; the party may be a buyer, seller, landlord, or tenant correct answers Agency Relationship A written agreement between a firm and a client; the client authorizes the firm to provide brokerage services to the client correct answers Agency Agreement What are two agency agreements? correct answers Listing Agreem...

RECA Fundamentals Exam Questions and Answers Already Passed Which of the following is NOT a RECA educational resource for industry professionals? Spatial Information System (Spin 2) Which entity has the authority to amend the Real Estate Act Provincial Legislature Which of the following measures the change in a cost of a fixed basket of goods and services purchased by families over a period of time Consumer Price Index (CPI) Which of the following will occur to the supply of a goo...

Real Estate Practice Exam Questions Answered 100% Correctly 2024 1. Brokerage definition... the business practice of bringing together the parties in a practice. 2. What are two examples of special use property? schools and cemetary 3. What is an example of functional obsolescence? bathroom 4. Principal definition... a consumer of real estate services who has entered into an agency relationship with a broker or another licensee employed by a broker. 5. Capitalization definition... th...

Bob Hogue - Pre Lic. Test Questions and Answers 100% Pass What is the required continuing education for a Florida real estate licensee? - 14 hours every two years - 20 hours every year - 30 hours every five years - 10 hours every year --- What is a characteristic of a fiduciary relationship? - Casual advice - Loyalty and confidentiality - Limited representation - No obligation --- 2 If a seller provides false information about a property’s condition, the real est...

Which of the following is NOT a RECA educational resource for industry professionals? - Answer- Spatial Information System (Spin 2) Which entity has the authority to amend the Real Estate Act - Answer- Provincial Legislature Which of the following measures the change in a cost of a fixed basket of goods and services purchased by families over a period of time - Answer- Consumer Price Index (CPI) Which of the following will occur to the supply of a good when there is a change in quantity...

TN State Exam Practice 1 Questions and Answers Already Passed In Tennessee, what's the minimum age to earn a real estate license? 16 18 21 25 18 Which of the following is the most accurate definition of the word "creed"? A disability A national culture A set of beliefs A system of racial categorization A set of beliefs TREC and any committee created under TREC is entitled to whose legal services? The district attorney of the county in which TREC operates The ...

RECA Unit 1 Quiz Latest Update Graded A+ Which of the following represents an accountability mechanism that RECA must comply with under the Act? A) RECA must prepare for the Minister of Service Alberta an annual report for the previous year end B) RECA must prepare for the Minister of Service Alberta an annual consumer report on the investigations conducted C) RECA must prepare for the Minister of Service Alberta a market report on the industries it regulates D) RECA must prepare...