DEVOTED AGENT CERTIFICATION
COMPLIANCE EVALUATION QUESTIONS
AND SOLUTIONS STUDY GUIDE
●● Which of the following is an element of a listing agreement?
Answer: the agreement to pay a stated commission, usually a percentage
of the sales price
●● the IRS considers which of the following a violation of independent
contractor status?
Answer: salesperson is told to work set hours, guaranteed a monthly
minimum wage, has his licensing fees paid by the broker
●● the TAR buyer representation agreement in or text book:
Answer: authorizes intermediary, authorizes the buyer to give the agent
complete loyalty, establishes an exclusive market area
●● The amendments in 1996 to the License Act state that an agent is not
liable for a misrepresentation or concealment of material fact by a party
if:
Answer: The licensee did not know of the falsity of the
misrepresentation
, ●● One who hires an agent to represent him is called a:
Answer: principal
●● It is always a good idea to have:
Answer: The seller fill out the Seller's Disclosure Notice
●● A real estate brokerage firm that practices buyer agency only has a
lot of intermediary transactions.
Answer: false
●● Which of the following is a statutory defense for a lawsuit brought
about by DTPA?
Answer: Written information obtained from a government record
●● A licensee is not liable for a misrepresentation or a concealment of a
material fact made by a party to a real estate transaction if the seller did
not disclose it to the agent.
Answer: true
●● Actual awareness of a falsity, deception, or unfairness of an act under
DTPA is known as:
Answer: knowingly
COMPLIANCE EVALUATION QUESTIONS
AND SOLUTIONS STUDY GUIDE
●● Which of the following is an element of a listing agreement?
Answer: the agreement to pay a stated commission, usually a percentage
of the sales price
●● the IRS considers which of the following a violation of independent
contractor status?
Answer: salesperson is told to work set hours, guaranteed a monthly
minimum wage, has his licensing fees paid by the broker
●● the TAR buyer representation agreement in or text book:
Answer: authorizes intermediary, authorizes the buyer to give the agent
complete loyalty, establishes an exclusive market area
●● The amendments in 1996 to the License Act state that an agent is not
liable for a misrepresentation or concealment of material fact by a party
if:
Answer: The licensee did not know of the falsity of the
misrepresentation
, ●● One who hires an agent to represent him is called a:
Answer: principal
●● It is always a good idea to have:
Answer: The seller fill out the Seller's Disclosure Notice
●● A real estate brokerage firm that practices buyer agency only has a
lot of intermediary transactions.
Answer: false
●● Which of the following is a statutory defense for a lawsuit brought
about by DTPA?
Answer: Written information obtained from a government record
●● A licensee is not liable for a misrepresentation or a concealment of a
material fact made by a party to a real estate transaction if the seller did
not disclose it to the agent.
Answer: true
●● Actual awareness of a falsity, deception, or unfairness of an act under
DTPA is known as:
Answer: knowingly
