A broker is a person who - Study guides, Class notes & Summaries
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NY Life, Accident, and Health Insurance Agent/Broker Exam Series 17-55 actual exam
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NY Life, Accident, and Health Insurance 
Agent/Broker Exam Series 17-55 actual 
exam 
Process 2103 (d-i) - CORRECT ANSWER-1. The Superintendent may issue a license 
to any person, firm or corporation who has complied with the requirements of the 
Insurance Code, authorizing the licensee to act as agent of any authorized insurer. 
Every individual applicant for a license under this section and every proposed sublicensee must be 18 years of age or older at the time of issuance of such licens...
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2023/2024 OACIQ Exam Prep - Questions with Verified Answers
- Exam (elaborations) • 17 pages • 2023 Popular
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2023/2024 OACIQ Exam Prep - Questions with Verified Answers When do you need a new certificate of location? If previous one is older than 10 years, requires a new one. In the description sheet in MLS, inform collaborating brokers that a new one will be available soon. Seller asks to reduce commission if you find a buyer? You can include a clause in the BCS in 11.1 stating that in the event that you find a buyer, you will reduce your commission to 3%, however in the case of multiple offers, thi...
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Florida Real Estate Exam TEST Questions WITH 100% Correct Answers LATEST UPDATE 2023/2024
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Florida Real Estate Exam TEST 
Questions WITH 100% Correct 
Answers LATEST UPDATE 
2023/2024 
Binder deposit shows up as what on closing statement? - ANSWER Credit to buyer 
Which of the following is true about leverage? - ANSWER Leverage is the use of 
borrowed funds to purchase assets. 
Which of the following liens would take priority? - ANSWER A property tax lien 
In which of the following theories of mortgage lending does the borrower not retain 
ownership of the property during the loan ...
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Real Estate U Final Exam Questions And Answers 2024/2025
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Real Estate U Final Exam Questions And Answers 2024/2025 
 
Article 12-A of the NYS Real Property Law Answer: The section of the New York Real Property Law pertaining to real estate salespersons and brokers. 
 
- Primary purpose is to "Protect the Public" 
- Requires a salesperson to be at least 18 years of age 
- Requires a broker to be at least 20 years of age 
 
Sponsor broker Answer: A licensed real estate broker that holds the license of a salesperson 
 
"Summary of Your Submission" Answer:...
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NY REAL ESTATE EXAM -REVIEW QUESTIONS
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1-A broker legitimately may pay all or part of Real estate commission to a 
a. seller 
b. salesperson 
c. buyer 
d. friend who provides a listing lead - Answer- -B: Salesperson can accept compensation only from their sponsoring broker. 
 
2-The minimum age for a New York real estate broker's license is 
a. 19. 
b. 18. 
c. 20. 
d. 21. - Answer- C. As of July 1,2008 to become a broker you must be 20 years old. 
 
3-Which of the following acts would require a real estate license in New York 
a. Sa...
Too much month left at the end of the money?
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VanEd National Real Estate Exam Questions || A+ Guaranteed.
- Exam (elaborations) • 24 pages • 2024
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Question: A sublessee is a(n) correct answers . Tenant 
 
Question: A major disadvantage of owning investment property might be correct answers Lack of Liquidity 
 
Question: The most favorable thing about a VA loan is that correct answers VA loans guarranty gives the veteran favorable financing terms because the lender is protected from loss 
 
Question: Once the funds of a construction loan are disbursed to the contractor, and if the sub-contractor is not paid, correct answers . The sub-contra...
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Texas Promulgated Contracts-CHAMPIONS Exam 2022-2023.
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Texas Promulgated Contracts-CHAMPIONS STUDY 2022-2023. 
The elements of a valid contract are, competent parties, consideration, legal subject matter, in writing, and ___________. 
 
(a) Default 
 
(b) Mutual consent 
 
(c) Property condition 
 
(d) Recording 
 
A(n) __________________ contract is defined as a contract that is binding on the parties, with one or more of the parties having contractual duties that have not yet been performed. 
 
(a) Executory 
 
(b) Executed 
 
(c) Bilatera...
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CA Life Insurance Exam Questions and Answers 100% Pass
- Exam (elaborations) • 27 pages • 2023
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CA Life Insurance Exam Questions and Answers 100% Pass What is meant by referring to an insurance policy as a unilateral contract? Only one party makes a legally enforceable promise. 
When must insurance records of insurance agents and brokers be made available to the Insurance Commissioner? At all times. 
Any situation that presents the possibility of a loss is known as a loss exposure 
Which of the following information is not required to be communicated in a Life insurance contract? Personal ...
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Champions School of Real Estate Law of Agency – Questions and Answers Already Passed
- Exam (elaborations) • 17 pages • 2024
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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...
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TX-Brokerage (SAE) Questions with correct Answers 2024
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TX-Brokerage (SAE) Questions with correct Answers 2024 
The _____ is required to ascertain that Brokers are aware of all of their responsibilities. 
Texas Real Estate Commission 
 
 
 
The _____ course is to address the regulatory aspects of the management, operation and supervision of a real estate brokerage firm in Texas. The course provides an understanding and working knowledge of a broker's responsibilities and obligations under 22 TAC §535.2. 
Broker Responsibility MCE 
 
 
 
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