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CHAMPIONS REAL ESTATE EXAM LAW OF AGENCY / NEWEST CHAMPIONS REAL ESTATE LAW OF AGENCY ACTUAL TEST QUESTIONS AND WELL ELABORATED ANSWERS (100% CORRECT VERIFIED ANSWERS) NEW UPDATED VERSION |GUARANTEED PASS A+. (FULL REVISED EXAM)$20.49
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CHAMPIONS REAL ESTATE EXAM LAW OF AGENCY / NEWEST CHAMPIONS REAL ESTATE LAW OF AGENCY ACTUAL TEST QUESTIONS AND WELL ELABORATED ANSWERS (100% CORRECT VERIFIED ANSWERS) NEW UPDATED VERSION |GUARANTEED PASS A+. (FULL REVISED EXAM)
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CHAMPIONS REAL ESTATE LAW OF AGENCY
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CHAMPIONS REAL ESTATE LAW OF AGENCY
CHAMPIONS REAL ESTATE EXAM LAW OF AGENCY / NEWEST CHAMPIONS REAL ESTATE LAW OF AGENCY ACTUAL TEST QUESTIONS AND WELL ELABORATED ANSWERS (100% CORRECT VERIFIED ANSWERS) NEW UPDATED VERSION |GUARANTEED PASS A+. (FULL REVISED EXAM)
CHAMPIONS REAL ESTATE EXAM LAW OF AGENCY /
NEWEST CHAMPIONS REAL ESTATE LAW OF AGENCY
ACTUAL TEST QUESTIONS AND WELL ELABORATED
ANSWERS (100% CORRECT VERIFIED ANSWERS) NEW
UPDATED VERSION 2024-2025|GUARANTEED PASS A+.
(FULL REVISED EXAM)
Agent Joe at ABC Realty has a listing. Agent Sean at City Realty has a
buyer who wishes to purchase Joe's listing. The buyer that Agent Sean
is working with has chosen to not enter into an agency relationship
with City Realty.
What type of transaction is this? - Answer-cooperative (co-op)
An exemption to using the Information About Brokerage Services form
is: - Answer-a lease for less than 1 year with no sale anticipated
A licensee not associated with the client's broker but who is
representing the client through a cooperative agreement with the
client's broker is known as: - Answer-Subagent
This must be in at least 10 point type, must have the exact language
prescribed in the License Act and must be provided to a buyer or seller
at the first substantive discussion of a real estate transaction - Answer-
IABS (Information About Brokerage Services)
,Jeffrey wants to see property that your company has listed; he does not
want to be represented.
The agent must: - Answer-give Jeffrey the IABS form
A licensee must present the Information About Brokerage Services
form: - Answer-at the first substantive discussion of a real estate
transaction
A licensee has a listing with a seller and has a buyer's representation
agreement signed with a buyer who desires to purchase this agent's
listing. How is the agent operating? - Answer-as a non-appointed
associate in an Intermediary relationship
TREC was established in: - Answer-1949
Which of the following is the real estate licensing authority in Texas? -
Answer-TREC
A termination date in a listing agreement must be: - Answer-definite
Which of the following is NOT an agent's duty to a client? - Answer-
Trust
These are the duties: OLDCAR: Obedience, loyalty, disclosure,
confidentiality, accounting, reasonable care
,The duty of ___________ means that an agent must follow all of the
lawful instructions of the client. - Answer-obedience
Jerome is a licensed agent who desires to sell his mother's home.
Jerome has the property
listed with his brokerage firm and finds a buyer himself to buy mom's
home. Jerome should: - Answer-Disclose to the buyer in writing that
the seller is his mother.
If an agent sells their own property, acting as a principal, the agent
must: - Answer-disclose to the party in writing that they are a licensed
agent
Confidential information between client and agent should be: - Answer-
kept confidential forever
In most states other than Texas, the most common method of dealing
with in-house transactions between client buyers and sellers is: -
Answer-dual agency
When handling escrow funds for clients, the License Act requires that
funds be deposited in a "reasonable time". A reasonable time is defined
as: - Answer-2 business days
This person hires an agent - Answer-The Principal
, The agent works on behalf of this person - Answer-the client (principal)
This type of agency allows for the greatest range of authority - Answer-
Universal
This is provided to the agent when there is written documentation that
the agency relationship exists. - Answer-Express authority
This is the most limited of all the agency relationships - Answer-Special
agency
This type of agency is created when a 3rd party believes that an agent
has authority that has NOT been granted by a principal - Answer-
Agency by Estoppel
This type of agency is created when actions lead another person to
assume that one is an agent (Example- you have a key to neighbors
home and show the property) - Answer-Ostensible Agency
If a buyer hasn't signed a buyer's rep agreement, then who is
representing the buyer? - Answer-No one
This establishes a relationship with a broker - Answer-The
Buyer/Tenant Representation agreement
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