Express authority Study guides, Class notes & Summaries

Champions School of Real Estate Law of Agency – Questions and Answers Already Passed The principal is also known as client fiduciary relationship a relationship founded on trust and confidence Agency Relationship Exists when one person (the agent) acts for, or on behalf of another person (the principal). the principal is the one who hires and gives authority to the agent Texas Real Estate License Act TRELA Was passed 1939. The purpose is to protect the public against unscr...

Champions Real Estate Exam Law of Agency solution A+ GUARANTED This person hires an agent - CORRECT ANS - The Principal The agent works on behalf of this person - CORRECT ANS - the client (principal) This type of agency allows for the greatest range of authority - CORRECT ANS - Universal This is provided to the agent when there is written documentation that the agency relationship exists. - CORRECT ANS - Express authority This is the most limited of all the agency relationships...

LML4806 PORTFOLIO MEMO - MAY/JUNE 2024 - SEMESTER 1 - UNISA - DUE DATE :- 17 MAY 2024 (DETAILED ANSWERS WITH FOOTNOTES AND BIBLIOGRAPHY - DISTINCTION GUARANTEED!) QUESTION 1 [20] 1.1 According to Milton Friedman, “there is one and only one social responsibility of business – to use its resources and engage in activities designed to increase its profits…” With reference to the principle of corporate social responsibility, discuss the meaning of corporate social responsibility and...

PRIMERICA LIFE INSURANCE EXAM 2024 |Question and Answer| 100% Correct An insured purchased an insurance policy 5 years ago. Last year, she received a dividend check from the insurance company that was not taxable. This year, she did not receive a check from the insurer. From what type of insurer did the insured purchase the policy? a. mutual b. reciprocal c. nonprofit service organization d. stock *Ans* A. mutual funds not paid out after paying claims and other operating costs are r...

Which of the following describes a competent real estate professional? A) A real estate professional who agrees to provide services that they are incapable of performing B) A real estate professional who possesses the necessary ability and knowledge to perform an action proficiently C) A real estate professional who represents a client in matters that are beyond their expertise D) A real estate professional who holds a valid authorization from RECA and is registered with a brokerage in Alber...

Rules of Construction Help to identify and establish the intent of the parties to the contract Utmost good faith Each party is entitled to rely on the representation of the other, and each party should have a reasonable expectation that the other is acting in good faith without attempts to conceal or deceive. Aleatory Contract A contract under which one party's performance is contingent on an uncertain event. property and casualty agent has the power to bind the insurer...

Law 3220 Exam 4 Clemson Latest Update Graded A Agency An agency is created when a person or company (an agent) agrees to act for or in place of another person or company (the principal) Parties in an Agency -The principal creates authority in an agent -The agent receives authority and carries out the principal's instructions -Third parties make contract or are involved in torts with the agents Disclosed Principal Identity of principal is known by the third party at time of making of contract ...

NEW HAMPSHIRE ADJUSTER EXAM PREP: SERIES 12-75 QUESTIONS WITH CORRECT UPDATED ANSWERS GRADED A++ Which of the following best defines "insured"? A. Transfer of the risk of financial loss from one party to another B. A legally binding contract in which the insurance company agrees to pay for specified losses in exchange for premiums C. An individual or organization that pays premiums in exchange for financial protection D. A company, group, or government agency offering financial prot...

SC Property, Casualty, Surety, Marine Exam Questions and Answers 100% Answered!!Accumulated Depreciation - ANSWERSThe total decrease in an item's value over a period of time. Formula:(Annual Depreciation x Number ofyears used) 1-J Acreage Reporting Date - ANSWERSThe deadline for providing the insurer with an acreage report, which is used to determine the amount of coverage needed and the premium charged for a particular crop. 3-E Actual Cash Value (ACV) - ANSWERSA valuation method used by...

CON 3990 FAR Exam Practice Questions and Answers | Latest Update 2023/2024. FAR Part 2 -CORRECT ANSWER Definitions of Words and Terms FAR Part 3 -CORRECT ANSWER Improper Business Practices & Personal Conflicts of Interest FAR Part 4 -CORRECT ANSWER Administrative Matters FAR Part 5 -CORRECT ANSWER Publicizing Contract Actions FAR Part 6 -CORRECT ANSWER Competitive Requirements FAR Part 7 -CORRECT ANSWER Acquisition Planning FAR Part 8 -CORRECT ANSWER Required Sources of Supplies and Servic...