CHAMPIONS LAW OF AGENCY EXAM
CERTIFICATION EVALUATION 2026
COMPREHENSIVE ASSESSMENT
⫸ Which of the following is an element of a listing agreement? Answer:
the agreement to pay a stated commission, usually a percentage of the
sales price
⫸ the IRS considers which of the following a violation of independent
contractor status? Answer: salesperson is told to work set hours,
guaranteed a monthly minimum wage, has his licensing fees paid by the
broker
⫸ the TAR buyer representation agreement in or text book: Answer:
authorizes intermediary, authorizes the buyer to give the agent complete
loyalty, establishes an exclusive market area
⫸ The amendments in 1996 to the License Act state that an agent is not
liable for a misrepresentation or concealment of material fact by a party
if: Answer: The licensee did not know of the falsity of the
misrepresentation
⫸ One who hires an agent to represent him is called a: Answer:
principal
, ⫸ It is always a good idea to have: Answer: The seller fill out the
Seller's Disclosure Notice
⫸ A real estate brokerage firm that practices buyer agency only has a lot
of intermediary transactions. Answer: false
⫸ Which of the following is a statutory defense for a lawsuit brought
about by DTPA? Answer: Written information obtained from a
government record
⫸ A licensee is not liable for a misrepresentation or a concealment of a
material fact made by a party to a real estate transaction if the seller did
not disclose it to the agent. Answer: true
⫸ Actual awareness of a falsity, deception, or unfairness of an act under
DTPA is known as: Answer: knowingly
⫸ The TREC was established in: Answer: 1949
⫸ an exemption to using the Information About Brokerage Services
form is: Answer: a lease for not more than 1 year
⫸ listings can be terminated at any time by mutual agreement Answer:
true
CERTIFICATION EVALUATION 2026
COMPREHENSIVE ASSESSMENT
⫸ Which of the following is an element of a listing agreement? Answer:
the agreement to pay a stated commission, usually a percentage of the
sales price
⫸ the IRS considers which of the following a violation of independent
contractor status? Answer: salesperson is told to work set hours,
guaranteed a monthly minimum wage, has his licensing fees paid by the
broker
⫸ the TAR buyer representation agreement in or text book: Answer:
authorizes intermediary, authorizes the buyer to give the agent complete
loyalty, establishes an exclusive market area
⫸ The amendments in 1996 to the License Act state that an agent is not
liable for a misrepresentation or concealment of material fact by a party
if: Answer: The licensee did not know of the falsity of the
misrepresentation
⫸ One who hires an agent to represent him is called a: Answer:
principal
, ⫸ It is always a good idea to have: Answer: The seller fill out the
Seller's Disclosure Notice
⫸ A real estate brokerage firm that practices buyer agency only has a lot
of intermediary transactions. Answer: false
⫸ Which of the following is a statutory defense for a lawsuit brought
about by DTPA? Answer: Written information obtained from a
government record
⫸ A licensee is not liable for a misrepresentation or a concealment of a
material fact made by a party to a real estate transaction if the seller did
not disclose it to the agent. Answer: true
⫸ Actual awareness of a falsity, deception, or unfairness of an act under
DTPA is known as: Answer: knowingly
⫸ The TREC was established in: Answer: 1949
⫸ an exemption to using the Information About Brokerage Services
form is: Answer: a lease for not more than 1 year
⫸ listings can be terminated at any time by mutual agreement Answer:
true
