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Exam (elaborations)

Virginia PSI Exam (State)Questions and Answers(graded A)

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Institution Virginia PSI
Course Virginia PSI
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Virginia PSI Exam (State)Questions and AActive Status -ANSWER Legally engaging in acts of real estate. Brokerage Agreement -ANSWER A written agreement establishing the brokerage relationship between a client and a licensee which must state whether the licensee will represent the client as an agent or as an independent contractor. Brokerage Relationship -ANSWER The contractual relationship between a client and a licensee. Inactive Status -ANSWER Broker or salesperson who is not under a principal or not active with a firm. Independent Contractor -ANSWER Licensee who enters into brokerage agreement with client, which specifically states that the licensee is acting as an independent contractor and NOT an agent. Limited Service Agent -ANSWER States that agent will not provide one or more of the duties of a standard agent is required to provide. The obligations of a limited service agent nswers(graded A)

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  • active status answer legally engaging in acts of
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