ATI EXAM ms
Exam Solution ms
National Real Estate Exam: Agency 2026 A+ GRADE ASS ms ms ms ms ms ms ms ms
URED COMPLETE SOLUTIONS AND VERIFIED ANSWERS
ms ms ms ms ms
(51D23)
ms
QUESTION 1 ms
fiduciary relationship ms
ANSWER
When a person acts on behalf of another in business and legal dealings with others. A special relatio
ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms
nship of trust, confidence, or responsibility in certain obligations to others.
ms ms ms ms ms ms ms ms ms ms
QUESTION 2 ms
imputed knowledge ms
ANSWER
principal has same knowledge or notice of facts known by his agent or subagent and the agent is co
ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms
nsidered to have same knowledge or notice that subagents have
ms ms ms ms ms ms ms ms ms
QUESTION 3 ms
vicarious liability ms
ANSWER
If a principal has the same knowledge as his agent, he then would have liability for the agent's acts.
ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms
QUESTION 4 ms
universal agent ms
ANSWER
authorized to perform all acts that can be delegated to a representative, including power to sign con
ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms
tracts and other docs for principal.
ms ms ms ms ms
, QUESTION 5 ms
power of attorney ms ms
ANSWER
authorizes a person to act as an attorney in face and sign on behalf of principal.
ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms
QUESTION 6 ms
general agent ms
ANSWER
authorized to conduct series of transaction of a continuing nature in a broad, but specified, range of
ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms m
business matters for principal.
s ms ms ms
QUESTION 7 ms
special agent ms
ANSWER
has limited authority to conduct a single transaction for a principal. Confined to a specific task.
ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms
QUESTION 8 ms
agency relationship ms
ANSWER
Agent owes loyalty in relationship. Written agreement not required to create agency relationship.
ms ms ms ms ms ms ms ms ms ms ms ms
QUESTION 9 ms
agency relationships may be created 6 ways
ms ms ms ms ms ms
ANSWER
1. express agreement 2. ratification 3. necessity 4. law 5. estoppel 6. implication
ms ms ms ms ms ms ms ms ms ms ms ms
QUESTION 10 ms
express agreement ms
ANSWER
oral or written agreement.
ms ms ms
Exam Solution ms
National Real Estate Exam: Agency 2026 A+ GRADE ASS ms ms ms ms ms ms ms ms
URED COMPLETE SOLUTIONS AND VERIFIED ANSWERS
ms ms ms ms ms
(51D23)
ms
QUESTION 1 ms
fiduciary relationship ms
ANSWER
When a person acts on behalf of another in business and legal dealings with others. A special relatio
ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms
nship of trust, confidence, or responsibility in certain obligations to others.
ms ms ms ms ms ms ms ms ms ms
QUESTION 2 ms
imputed knowledge ms
ANSWER
principal has same knowledge or notice of facts known by his agent or subagent and the agent is co
ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms
nsidered to have same knowledge or notice that subagents have
ms ms ms ms ms ms ms ms ms
QUESTION 3 ms
vicarious liability ms
ANSWER
If a principal has the same knowledge as his agent, he then would have liability for the agent's acts.
ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms
QUESTION 4 ms
universal agent ms
ANSWER
authorized to perform all acts that can be delegated to a representative, including power to sign con
ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms
tracts and other docs for principal.
ms ms ms ms ms
, QUESTION 5 ms
power of attorney ms ms
ANSWER
authorizes a person to act as an attorney in face and sign on behalf of principal.
ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms
QUESTION 6 ms
general agent ms
ANSWER
authorized to conduct series of transaction of a continuing nature in a broad, but specified, range of
ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms m
business matters for principal.
s ms ms ms
QUESTION 7 ms
special agent ms
ANSWER
has limited authority to conduct a single transaction for a principal. Confined to a specific task.
ms ms ms ms ms ms ms ms ms ms ms ms ms ms ms
QUESTION 8 ms
agency relationship ms
ANSWER
Agent owes loyalty in relationship. Written agreement not required to create agency relationship.
ms ms ms ms ms ms ms ms ms ms ms ms
QUESTION 9 ms
agency relationships may be created 6 ways
ms ms ms ms ms ms
ANSWER
1. express agreement 2. ratification 3. necessity 4. law 5. estoppel 6. implication
ms ms ms ms ms ms ms ms ms ms ms ms
QUESTION 10 ms
express agreement ms
ANSWER
oral or written agreement.
ms ms ms
