Texas Law of Agency: Quiz Questions with Complete Solutions

Texas Law of Agency: Quiz Questions with Complete Solutions One who acts for and with authority from another, called the principal, is known as a/an...? Agent Attorney Employee Partner Agent If an individual works as an associate broker, who must they work under...? An associate licensee An associate broker does not work under anyone A real estate salesperson A sponsoring broker A Sponsoring Broker The Information About Brokerage Services form is presented by the broker to the...? Associate agent Escrow agent Agent Prospective client Prospective Client Agency between a broker and principal is created through a/an...? Listing contract Purchase contract Independent contractor agreement Any of the above Listing Contract The party the agent brings to the principal as a seller or buyer of the property is known as a/an...? Partner Customer Associate Client Customer Which of the following can legally employ a real estate salesperson to work on their behalf...? An associate broker A real estate broker Another real estate salesperson A real estate associate A Real Estate Broker Which of the following has the highest authority in an agency relationship...? Real estate salesperson Real estate broker Associate licensee Associate broker Real Estate Broker A real estate broker may sponsor which of the following...? Associate licensee Real estate salesperson Associate broker All of the above All of the Above A real estate broker works for which of the following in a transaction...? The customer The lender The principal All of the above The Principal Statutory law is derived from which of the following...? Court decisions Legislation Judge rulings Common actions Legislation Which of the following is the most restrictive type of agency...? Special agency General agency Specific agency Universal agency Special Agency A listing contract is signed between a principal and a...? Real estate broker Any of the above Real estate salesperson Associate licensee