An agency relationshi - Study guides, Class notes & Summaries

Real Estate Final Exam (150 Questions) #1 100% Correct Answers 2023 A real estate licensee has a buyer agency agreement. What is the seller in this situation? A customer. An optionor and an optionee make a contract for an option on a commercial piece of property. If the optionee decides to exercise his option, when must he perform? He must exercise his option under the terms of the option contract. When can a landlord evict a disabled blind or disabled tenant from the premises? If the te...

Real Estate Exam Delaware Questions and Answers 100% Correct Most residential real estate transfers require the seller to provide the buyer with this - Correct Answer ️️ -Seller's Disclosure of Real Property Condition Report Piper contracted with Alex to sell her Dover home to him for $350,000. If Alex breaches the sales contract, how long does Piper have to sue Alex for breach of contract? Eight years Four years - Correct Answer ️️ -Three years Which of the following statements...

When a client decides to end an agency relationship, it is called ____. a. revocation b. renunciation c. deuces d. mutual rescission - ANSWERSa. revocation What is required for an agency relationship to form? - ANSWERSconsent of an agent and the principal Which of the following BEST describes what happens when Broker Bob signs a listing agreement with Seller Sally? - ANSWERSA fiduciary relationship is formed A broker who enters into a Listing Agreement with a seller is considered ...

DECA- Business Management+ Administration Career Cluster with Complete SolutionsDECA- Business Management+ Administration Career Cluster with Complete SolutionsDECA- Business Management+ Administration Career Cluster with Complete SolutionsDECA- Business Management+ Administration Career Cluster with Complete Solutions As the principal in an agency business relationship, Lynn tells Bob to take specific action on her behalf under certain circumstances. What type of authority has Lynn given to Bo...

who owes fiduciary duties in an agency relationship correct answers the broker only which activity does not exemt from the requirement to provide disclosure under the brokerage relationship disclosure act correct answers showing property to a party that is not being represented as an agent a broker is employed by and acts on behalf of a correct answers principal a general agency relashionship exists when a correct answers sales associate is employed by a broker broker John just recei...

As the principal in an agency business relationship, Lynn tells Bob to take specific action on her behalf under certain circumstances. What type of authority has Lynn given to Bob? - ANSWER-Express Jake is researching career trends in the field of accounting. Which source is most likely to contain the most current, credible information? - ANSWER-The federal government's labor and workforce website What information should be included in the inside address selection of a business letter? - ...

OLERE 2023 UPDATED EXAM QUESTIONS AND ANSWERS "Administrative Procedures Act" ("APA") -ANSWER- means Article I and/or Article II of the Administrative Procedures Act, 75 O.S. §§ 250 et seq. "Complainant" -ANSWER- means any person who files a Request for Inquiry against a LPC, Candidate, or a person who delivers licensed professional counseling services without a license. "Complaint Committee" -ANSWER- means one Board member who is a LPC, the Executive Director, the Assista...

Real Estate Brokerage (Agency)question n answers graded A+ 2023Agency - correct answer Relationship between a principal and an agent wherein the agent is authorized to represent the principal in certain transactions Agency coupled with an interest - correct answer Agency relationship in which the agent is given an estate or interest in the subject of the agent (the property) Agent - correct answer One who acts or has the power to act for another. A judiciary relationship is created under t...

2.0 Agency Fundamentals with verified solution 2023What duty is an agent of the buyer breaching when she appears to be advocating for the seller customer? A. disclosure B. loyalty C. obedience D. reasonable care The answer is B. Agents must be loyal to clients, not customers. What does a real estate licensee owe to a client that he does NOT owe to a customer? A. disclosure B. honesty C. integrity D. obedience The answer is D. Obedience is a fiduciary duty owed only...

An agency relationship exists when one person, the ______________ acts for, or on the behalf of another person, the _____________________. - ANSWERSAgent, principal Which of the following is ground for suspension or revocation of license by TREC? - ANSWERSSplitting commission with a person other than a license holder The commission can deny licensure to an applicant based on the applicants? - ANSWERSMoral character What form must an agent provide to a potential client at the first subst...