Agency relationshi Study guides, Class notes & Summaries

Agency Relationship and Broker Responsibilities questions with correct answers

When a client decides to end an agency relationship, it is called ____. a. revocation b. renunciation c. deuces d. mutual rescission - ANSWERSa. revocation What is required for an agency relationship to form? - ANSWERSconsent of an agent and the principal Which of the following BEST describes what happens when Broker Bob signs a listing agreement with Seller Sally? - ANSWERSA fiduciary relationship is formed A broker who enters into a Listing Agreement with a seller is considered ...

DECA- Business Management+ Administration Career Cluster with Complete SolutionsDECA- Business Management+ Administration Career Cluster with Complete SolutionsDECA- Business Management+ Administration Career Cluster with Complete SolutionsDECA- Business Management+ Administration Career Cluster with Complete Solutions As the principal in an agency business relationship, Lynn tells Bob to take specific action on her behalf under certain circumstances. What type of authority has Lynn given to Bo...

who owes fiduciary duties in an agency relationship correct answers the broker only which activity does not exemt from the requirement to provide disclosure under the brokerage relationship disclosure act correct answers showing property to a party that is not being represented as an agent a broker is employed by and acts on behalf of a correct answers principal a general agency relashionship exists when a correct answers sales associate is employed by a broker broker John just recei...

The principal is also known as - Answer- client fiduciary relationship - Answer- a relationship founded on trust and confidence Agency Relationship - Answer- Exists when one person (the agent) acts for, or on behalf of another person (the principal). the principal - Answer- is the one who hires and gives authority to the agent Texas Real Estate License Act TRELA - Answer- Was passed 1939. The purpose is to protect the public against unscrupulous brokers and sales agents. Texas Re...

OLERE 2023 UPDATED EXAM QUESTIONS AND ANSWERS "Administrative Procedures Act" ("APA") -ANSWER- means Article I and/or Article II of the Administrative Procedures Act, 75 O.S. §§ 250 et seq. "Complainant" -ANSWER- means any person who files a Request for Inquiry against a LPC, Candidate, or a person who delivers licensed professional counseling services without a license. "Complaint Committee" -ANSWER- means one Board member who is a LPC, the Executive Director, the Assista...

Real Estate Brokerage (Agency)question n answers graded A+ 2023Agency - correct answer Relationship between a principal and an agent wherein the agent is authorized to represent the principal in certain transactions Agency coupled with an interest - correct answer Agency relationship in which the agent is given an estate or interest in the subject of the agent (the property) Agent - correct answer One who acts or has the power to act for another. A judiciary relationship is created under t...

As the principal in an agency business relationship, Lynn tells Bob to take specific action on her behalf under certain circumstances. What type of authority has Lynn given to Bob? - ANSWER-Express Jake is researching career trends in the field of accounting. Which source is most likely to contain the most current, credible information? - ANSWER-The federal government's labor and workforce website What information should be included in the inside address selection of a business letter? - ...

who is the person that authorizes the other to represent them? correct answers the principal who is the person that has been authorized to act as the principals representative? correct answers the agent a person outside the agency relationship who deals with the principal through the agent is referred to as what? correct answers third party The law of agency can best be summed up as: Select your answer below: A.the state's licensing laws B.business regulations C.rules that apply ...

Questions About Agency Disclosure - correct answer It may seem simple, but most potential problems can be avoided with good communication. Asking questions is the best way to decide who represents whom in a transaction. Who is and Who is not an Agent? - correct answer Real estate licensees must discuss all proposed agency relationships with buyers and sellers - both landlords and tenants - so they can make informed decisions. Agency is a consensual relationship that requires a delegation of ...