Fiduciary representation Study guides, Class notes & Summaries

RECA Fundamentals Exam Questions and Answers Already Passed Which of the following is NOT a RECA educational resource for industry professionals? Spatial Information System (Spin 2) Which entity has the authority to amend the Real Estate Act Provincial Legislature Which of the following measures the change in a cost of a fixed basket of goods and services purchased by families over a period of time Consumer Price Index (CPI) Which of the following will occur to the supply of a good when ther...

administrative law - correct answer -Body of law created by administrative agencies in the form of rules, regulations, orders, and decisions. agent - correct answer -A person entrusted with another's business; the person authorized by the principal to act on the principal's behalf. at arm's length - correct answer -People conduct negotiations on their own behalf without trusting the other's fairness or integrity and without being subject to the other's control or influence. caveat ...

NYREI STATE EXAM GROUP TUTORING question and answers 2023 passed According to the New York State Real Property Law, a real estate salesperson's license is issued for a term of how many years? - correct answer Two What type of residential real property transfer would require a property condition disclosure statement? - correct answer Re-sales What happens to the licenses of salespersons if their sponsoring broker's license is revoked or suspended? - correct answer They are suspended A...

FL Real Estate Associate Exam Practice Questions 1. Agency relationship in Florida with the fewest duties/obligations:: Non-representation broker 2. If Jackson has no fiduciary duty and offers no representation whatsoever to the buyer or the seller in a transaction, Jackson is a:: Non-representation broker 3. Entity that determines and issues the final order in a disciplinary case constituting the finale agency action?: FREC 4. Circumstance when broker serving as an intermediary can collec...

According to the New York State Real Property Law, a real estate salesperson's license is issued for a term of how many years? Two What happens to the licenses of salespersons if their sponsoring broker's license is revoked? They are suspended Which type of residential real property transfer would require a property to condition disclosure statement? Lease with an option to purchase A listing broker for the seller has a buyer-client who asks to see the listing. This req...

ERISA - Answer- Employee Retirement Income Security Act 1974 SOC Reports - Answer- Service Organization Controls: for external vendors SOC 1 - Answer- Internal Controls & Financial reports; used by auditors SOC 2 - Answer- Security, availability, processing integrity, confidentiality and privacy controls;used by management, regulators, and others under an NDA SOC3 - Answer- Same as SOC2, but available for public use. Tribble V Edison - Answer- Landmark court case re fiduciary resp...

If a company cancels an auto policy mid term, the refund will be made on a. pro rata basis b. short rate basis c. retroactive basis d. coinsurance basis Pro Rata Basis What is the term used to describe terminating the insurance relationship at the end of the policy period ? a. cancellation b. nonrenewal c. separation d. exclusion Nonrenewal Which is the best example of an indirect loss ? a. sequential loss b. liability loss c. employee theft d. loss of use Loss o...

Which of the following has the authority to suspend or revoke a Texas real estate license? - Answer- TREC 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 repre...

RECA Residential Exam Questions and Answers 100% Correct 2024 Fiduciary Representation - Trust and confidence - Best interests - Loyalty 5 Ds of Role Clarity 1. Discuss 2. Determine 3. Document 4. Disclose 5. Do Must disclose in writing - the nature of services provided - whether professional has entered into representation relationship with other party - any conflicts of interest - any other facts that may influence consumers decision to proceed with relationship made to clari...

Texas Principles of Real Estate 1 Final Exam | Questions and Verified Answers | Grade A | 2024 / 2025 Update Q: An insurance policy protecting against a variety of hazards is referred to as a...? Homestead Policy Individual Policy Homeowners Policy Package Policy Answer: Homeowners Policy Q: Which of the following is an advantage to owning a home...? Tax benefits Pride of ownership Potential for asset appreciation All of the above Answer: All of the Above Q: An individual is exempt from paying t...