Texas Law of Agency: Quiz Questions And Answers All Verified
1 view 0 purchase
Course
Texas Law Of Agency
Institution
Texas Law Of Agency
Texas Law of Agency: Quiz Questions And Answers All Verified
Agent - ANS One who acts for and with authority from another, called the principal, is known as a/an...?
Agent
Attorney
Employee
Partner
A Sponsoring Broker - ANS If an individual works as an associate broker, who must they...
Agent - ANS One who acts for and with authority from another, called the principal, is known
as a/an...?
Agent
Attorney
K
Employee
Partner
C
A Sponsoring Broker - ANS If an individual works as an associate broker, who must they work
under...?
LO
An associate licensee
An associate broker does not work under anyone
A real estate salesperson
A sponsoring broker
YC
Prospective Client - ANS The Information About Brokerage Services form is presented by the
broker to the...?
Associate agent
Escrow agent
Agent
D
Prospective client
Listing Contract - ANS Agency between a broker and principal is created through a/an...?
U
Listing contract
Purchase contract
ST
Independent contractor agreement
Any of the above
Customer - ANS The party the agent brings to the principal as a seller or buyer of the property
is known as a/an...?
Partner
Customer
Associate
Client
,A Real Estate Broker - ANS Which of the following can legally employ a real estate
salesperson to work on their behalf...?
An associate broker
A real estate broker
Another real estate salesperson
A real estate associate
Real Estate Broker - ANS Which of the following has the highest authority in an agency
relationship...?
K
Real estate salesperson
Real estate broker
C
Associate licensee
Associate broker
LO
All of the Above - ANS A real estate broker may sponsor which of the following...?
Associate licensee
Real estate salesperson
Associate broker
YC
All of the above
The Principal - ANS A real estate broker works for which of the following in a transaction...?
The customer
The lender
D
The principal
All of the above
U
Legislation - ANS Statutory law is derived from which of the following...?
Court decisions
ST
Legislation
Judge rulings
Common actions
Special Agency - ANS Which of the following is the most restrictive type of agency...?
Special agency
General agency
Specific agency
Universal agency
, Real Estate Broker - ANS A listing contract is signed between a principal and a...?
Real estate broker
Any of the above
Real estate salesperson
Associate licensee
Reasonable Care and Diligence - ANS According to this fiduciary duty, an agent must meet
deadlines set by the principal and/or client...?
K
Obedience
Loyalty
Confidentiality
C
Reasonable care and diligence
Confidentiality - ANS According to this fiduciary duty, an agent must keep confidential any
LO
information that may weaken the principal's bargaining position...?
Reasonable care
Loyalty
Confidentiality
YC
Obedience
Material Fact - ANS Any fact that would influence the decision of a reasonably prudent person
is known as a/an...?
Implied fact
D
Material fact
Constructive fact
Impartial fact
U
Universal Agent - ANS David is serving as a power of attorney for Sarah. David is serving as
what type of agent...?
ST
Universal agent
General agent
Specific agent
Special agent
Special Agency - ANS A buyer representation agreement between a buyer and broker creates
what type of agency...?
General agency
Special agency
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 Studyclock. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.49. You're not tied to anything after your purchase.