CHAMPIONS REAL ESTATE EXAM: LAW OF AGENCY EXAM (2026/2027) QUESTIONS AND (elaborated) WITH COMPLETE SOLUTIONS 100% ACCURATE
CHAMPIONS REAL ESTATE EXAM: LAW OF AGENCY EXAM (2026/2027) QUESTIONS AND (elaborated) WITH COMPLETE SOLUTIONS 100% ACCURATE This person hires an agent The Principal The agent works on behalf of this person the client (principal) This type of agency allows for the greatest range of authority Universal This is provided to the agent when there is written documentation that the agency relationship exists. Express authority This is the most limited of all the agency relationships Special agency This type of agency is created when a 3rd party believes that an agent has authority that has NOT been granted by a principal Agency by Estoppel This type of agency is created when actions lead another person to assume that one is an agent (Example- you have a key to neighbors home and show the property) Ostensible Agency If a buyer hasn't signed a buyer's rep agreement, then who is representing the buyer? No one This establishes a relationship with a broker The Buyer/Tenant Representation agreement This can be written or oral Disclosure of Representation These are required to place their own selfish interests behind that of their clients. Fiduciaries A licensee isn't required to provide the IABS when... the licensee meets with a party that is already represented A broker is obligated to treat who honestly?
Document information
- Uploaded on
- September 24, 2026
- Number of pages
- 27
- Written in
- 2026/2027
- Type
- Exam (elaborations)
- Contains
- Questions & answers
