Exam: Law of Agency - Champions REAL EXAM 2025
Study online at https://quizlet.com/_hm0klm
Which of the following has the authority
to suspend or revoke a Texas real estate TREC
license?
the agreement to pay a stated commis-
Which of the following is an element of a
sion, usually a percentage of the sales
listing agreement?
price
the IRS considers which of the following salesperson is told to work set hours,
a violation of independent contractor sta- guaranteed a monthly minimum wage,
tus? has his licensing fees paid by the broker
authorizes intermediary, authorizes the
the TAR buyer representation agreement
buyer to give the agent complete loyalty,
in or text book:
establishes an exclusive market area
The amendments in 1996 to the License
Act state that an agent is not liable for The licensee did not know of the falsity of
a misrepresentation or concealment of the misrepresentation
material fact by a party if:
One who hires an agent to represent him
principal
is called a:
The seller fill out the Seller's Disclosure
It is always a good idea to have:
Notice
A real estate brokerage firm that prac-
tices buyer agency only has a lot of in- false
termediary transactions.
Which of the following is a statutory de-
Written information obtained from a gov-
fense for a lawsuit brought about by
ernment record
DTPA?
A licensee is not liable for a misrepre-
sentation or a concealment of a material
fact made by a party to a real estate true
transaction if the seller did not disclose
it to the agent.
Actual awareness of a falsity, deception,
or unfairness of an act under DTPA is knowingly
known as:
The TREC was established in: 1949
1/5
, Exam: Law of Agency - Champions REAL EXAM 2025
Study online at https://quizlet.com/_hm0klm
an exemption to using the Information
a lease for not more than 1 year
About Brokerage Services form is:
listings can be terminated at any time by
true
mutual agreement
Held to the highest degree of good faith,
Required to exclude selfish interest, Re-
fiduciaries are:
quire to make disclosures of all relevant
facts
According to TREC advertising rules, the
Communication from a licensee to his or
definition of advertisement includes all of
her client
the following, EXCEPT:
real estate agents owe certain non-fidu-
honesty and fairness
ciary duties to customers such as:
an unlicensed assistant may: host an open house
the best way to create an agency rela-
in writing
tionship is to do so:
a licensee must present the information at the first substantive discussion of a
about brokerage services form: possible transaction
when actions lead another person to as-
sume that one is an agent, this is known ostensible agency
as:
listings may be terminated by: death, insanity, mutual agreement
when one person acts for another on
an agency relationship
their behalf it is known as:
Whether or not to appoint associates in
an intermediary real estate transaction At the discretion of the broker
is:
In Texas, Worker's Compensation must
false
be paid for real estate agents by brokers:
unlicensed assistants may: be a transaction coordinator
a broker usually establishes buyer repre-
buyer representation agreement
sentation through a form known as a:
2/5
Study online at https://quizlet.com/_hm0klm
Which of the following has the authority
to suspend or revoke a Texas real estate TREC
license?
the agreement to pay a stated commis-
Which of the following is an element of a
sion, usually a percentage of the sales
listing agreement?
price
the IRS considers which of the following salesperson is told to work set hours,
a violation of independent contractor sta- guaranteed a monthly minimum wage,
tus? has his licensing fees paid by the broker
authorizes intermediary, authorizes the
the TAR buyer representation agreement
buyer to give the agent complete loyalty,
in or text book:
establishes an exclusive market area
The amendments in 1996 to the License
Act state that an agent is not liable for The licensee did not know of the falsity of
a misrepresentation or concealment of the misrepresentation
material fact by a party if:
One who hires an agent to represent him
principal
is called a:
The seller fill out the Seller's Disclosure
It is always a good idea to have:
Notice
A real estate brokerage firm that prac-
tices buyer agency only has a lot of in- false
termediary transactions.
Which of the following is a statutory de-
Written information obtained from a gov-
fense for a lawsuit brought about by
ernment record
DTPA?
A licensee is not liable for a misrepre-
sentation or a concealment of a material
fact made by a party to a real estate true
transaction if the seller did not disclose
it to the agent.
Actual awareness of a falsity, deception,
or unfairness of an act under DTPA is knowingly
known as:
The TREC was established in: 1949
1/5
, Exam: Law of Agency - Champions REAL EXAM 2025
Study online at https://quizlet.com/_hm0klm
an exemption to using the Information
a lease for not more than 1 year
About Brokerage Services form is:
listings can be terminated at any time by
true
mutual agreement
Held to the highest degree of good faith,
Required to exclude selfish interest, Re-
fiduciaries are:
quire to make disclosures of all relevant
facts
According to TREC advertising rules, the
Communication from a licensee to his or
definition of advertisement includes all of
her client
the following, EXCEPT:
real estate agents owe certain non-fidu-
honesty and fairness
ciary duties to customers such as:
an unlicensed assistant may: host an open house
the best way to create an agency rela-
in writing
tionship is to do so:
a licensee must present the information at the first substantive discussion of a
about brokerage services form: possible transaction
when actions lead another person to as-
sume that one is an agent, this is known ostensible agency
as:
listings may be terminated by: death, insanity, mutual agreement
when one person acts for another on
an agency relationship
their behalf it is known as:
Whether or not to appoint associates in
an intermediary real estate transaction At the discretion of the broker
is:
In Texas, Worker's Compensation must
false
be paid for real estate agents by brokers:
unlicensed assistants may: be a transaction coordinator
a broker usually establishes buyer repre-
buyer representation agreement
sentation through a form known as a:
2/5
