Exam (elaborations)
Champions School of Real Estate - Exam Prep /117 Questions With Complete Solutions Rated (A+)
- Course
- Institution
Champions School of Real Estate - Exam Prep /117 Questions With Complete Solutions Rated (A+)
[Show more]
Seller
Follow
HELLENAH
Reviews received
Content preview
Champions School of Real Estate - Exam Prep /117Questions With Complete Solutions Rated (A+)
Quiz :Buyer Representation Agreement - √Answer :An employment contract
obligating a broker to act as a fiduciary to a buyer
Quiz :Implied Agency - √Answer :Agency as a result of customary, usual or
typical conditions
Quiz :Broker - √Answer :A properly licensed party who serves a principal in an
agency relationship- also called an agent
Quiz :Client - √Answer :A party represented by a broker in an agency
relationship - also called a principal
Quiz :Duties of an Agent - √Answer :An agent owes his client obedience,
loyalty, disclosure, confidentiality, accounting and reasonable care (old car)
Quiz :customer - √Answer :A third party - one a broker is working with, but
who is not represented by that broker
, Quiz :Exclusive Agency Listing - √Answer :A listing where one broker is the
exclusive agent and will earn a commission if the property is sold, unless the
seller sells it himself- the seller is competing with his broker
Quiz :Ostensible Agency - √Answer :Agency as a result of the actions of an
agent and the response of other to those actions
Quiz :Agency by Ratification - √Answer :Agency is established when an agent
acts without permission of the principal and the principal accepts or ratifies
those actions.
Quiz :Blind Ad - √Answer :An advertisement that does not clearly indicate the
licensed status of the party placing the ad - real estate licensees are prohibited
from placing blind ads.
Quiz :Duties of Principal - √Answer :A principal owes his agent compensation,
reimbursement, indemnification and performance
Quiz :Procuring Cause of Sale - √Answer :The effort that results in the sale of
property - the act of bringing a ready, willing and able buyer to a seller
resulting the sale of the seller's property
Quiz :Exclusive right to sell - √Answer :A listing where one broker will earn a
commission when the property is sold, no matter who sells it
Quiz :Listing Agreement - √Answer :An employment contract obligating a
broker to act as a fiduciary to a seller
Quiz :Agency by Estoppel - √Answer :A principal fails to maintain due
diligence over his agent and as a result the court prevents the principal from
denying the agency relationship
Quiz :Dual Agent - √Answer :A broker who has the written permission of both
the buyer and the seller to represent both parties in a single transaction
Quiz :Management Agreement - √Answer :An employment contract
obligating a broker to act as a fiduciary to a property owner
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller HELLENAH. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $8.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75632 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now