ACEABLE LAW OF AGENCY REVIEW EXAM
WITH CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS
LATEST ALREADY GRADED A+
A fiduciary duty that never terminates is - ANSWERS-the duty of confidentiality
and the duty of accounting
The Four D's of Disclosure - ANSWERS-Decide whom they represent
Disclose to all parties whom they represent
Document that sufficient disclosure was made in a timely manner
Do your duties based on the representation and disclosures you have made
TREC - ANSWERS-the body that oversees and enforces the statutes and rules
that dictate industry disclosure policy and the mandate for brokers to have
written company policies for their brokerages.
,(TRELA) The Real Estate License Act - ANSWERS-provides the statutory
guidelines stipulating the duties of disclosure of license holder agency
relationships.
consensual relationship - ANSWERS-between a broker and a client.
The subagent must take care to disclose to the buyer that - ANSWERS-there is
no agency agreement between them
that the subagent is working in the best interests of the - ANSWERS-seller
independent contractors - ANSWERS-The vast majority of real estate sales
agents operate as
he Independent Contractor Agreement - ANSWERS-as the initial employment
contract for sponsorship by the broker
The Statement of Understanding - ANSWERS-that is to be signed every year
after the original contract takes effect
Sales agent: - ANSWERS-An individual holding a sales agent license from TREC
who is sponsored by a broker
License holder - ANSWERS-A broker or a sales agent licensed by TREC
, REALTOR - ANSWERS-A licensed sales agent who is a member of the National
Association of REALTORS®.
Brokers are - ANSWERS-liable for all sponsored actions committed by their sales
agents.
Sales agents represent - ANSWERS-their broker in all transactions in real estate
dealings and transactions.
Listing Agent: - ANSWERS-A broker representing a seller in a real estate
transaction, a.k.a. seller's agent, seller's broker, or listing broker
Buyer's Agent: - ANSWERS-A broker representing a buyer in a real estate
transaction, a.k.a. selling agent, buyer's broker, or selling broker
Tenant's Agent - ANSWERS-A broker representing a tenant in a real estate
transaction
Landlord's Agent: - ANSWERS-A broker representing a landlord in a real estate
transaction
Principal - ANSWERS-The major parties of the transaction (the buyer and seller
or landlord and tenant) or a party who has authorized an agent to represent
them
WITH CORRECT ACTUAL QUESTIONS AND
CORRECTLY WELL DEFINED ANSWERS
LATEST ALREADY GRADED A+
A fiduciary duty that never terminates is - ANSWERS-the duty of confidentiality
and the duty of accounting
The Four D's of Disclosure - ANSWERS-Decide whom they represent
Disclose to all parties whom they represent
Document that sufficient disclosure was made in a timely manner
Do your duties based on the representation and disclosures you have made
TREC - ANSWERS-the body that oversees and enforces the statutes and rules
that dictate industry disclosure policy and the mandate for brokers to have
written company policies for their brokerages.
,(TRELA) The Real Estate License Act - ANSWERS-provides the statutory
guidelines stipulating the duties of disclosure of license holder agency
relationships.
consensual relationship - ANSWERS-between a broker and a client.
The subagent must take care to disclose to the buyer that - ANSWERS-there is
no agency agreement between them
that the subagent is working in the best interests of the - ANSWERS-seller
independent contractors - ANSWERS-The vast majority of real estate sales
agents operate as
he Independent Contractor Agreement - ANSWERS-as the initial employment
contract for sponsorship by the broker
The Statement of Understanding - ANSWERS-that is to be signed every year
after the original contract takes effect
Sales agent: - ANSWERS-An individual holding a sales agent license from TREC
who is sponsored by a broker
License holder - ANSWERS-A broker or a sales agent licensed by TREC
, REALTOR - ANSWERS-A licensed sales agent who is a member of the National
Association of REALTORS®.
Brokers are - ANSWERS-liable for all sponsored actions committed by their sales
agents.
Sales agents represent - ANSWERS-their broker in all transactions in real estate
dealings and transactions.
Listing Agent: - ANSWERS-A broker representing a seller in a real estate
transaction, a.k.a. seller's agent, seller's broker, or listing broker
Buyer's Agent: - ANSWERS-A broker representing a buyer in a real estate
transaction, a.k.a. selling agent, buyer's broker, or selling broker
Tenant's Agent - ANSWERS-A broker representing a tenant in a real estate
transaction
Landlord's Agent: - ANSWERS-A broker representing a landlord in a real estate
transaction
Principal - ANSWERS-The major parties of the transaction (the buyer and seller
or landlord and tenant) or a party who has authorized an agent to represent
them
