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CHAMPIONS REAL ESTATE LAW AGENCY EXAM 2024 ACTUAL EXAM CORRECT 150 QUESTIONS WITH DETAILED VERIFIED ANSWERS (100% CORRECT ANSWERS) ALREADY GRADED A+ $23.49
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CHAMPIONS REAL ESTATE LAW AGENCY EXAM 2024
ACTUAL EXAM CORRECT 150 QUESTIONS WITH
DETAILED VERIFIED ANSWERS (100% CORRECT
ANSWERS) ALREADY GRADED A+
Listings may be terminated by: -
....ANSWER >>>>death, either party - broker
or client, or mutual agreement
Listings are the property of the: -
....ANSWER >>>>broker
Duties of principal to agent - ....ANSWER
>>>>CRIP: Compensation, Reimbursement,
Indemnification (protect the agent from
suffering a loss due to the
agent's reliance in information received
from the principal), Performance
If a broker dies what happens to the listing
with the seller? - ....ANSWER >>>>it
automatically terminates
,If a broker sells a property on behalf of a
seller without a signed listing agreement,
the courts
will most likely declare that the broker is: -
....ANSWER >>>>a volunteer, an agent in a
listing agreement that is unenforceable
against the seller, and unable to enforce
payment of the commission
Commission rates are set by? - ....ANSWER
>>>>client and broker
The TAR® Buyer Representation
Agreement in our textbook: - ....ANSWER
>>>>authorizes Intermediary, is limited to
the market area designated in the
agreement and authorizes the agent to
show properties to competing buyers
If a broker's agents are independent
contractors, there can be a policies and
procedures manual
,for the agents, however, - ....ANSWER
>>>>the broker can not require mandatory
compliance
A real estate agent generally gets paid: -
....ANSWER >>>>commission
Your company sends out a memo that there
is a mandatory sales meeting this week for
the
sales agents. - ....ANSWER >>>>The IRS rule
on independent contractor status could be
violated.
In Texas, Workman's Compensation must
be paid for real estate agents by brokers.
TRUE OR FALSE - ....ANSWER >>>>FALSE
The Tax Equity and Fiscal Responsibility Act
has the following tests for independent
, contractor status. - ....ANSWER >>>>1. The
salesperson must hold a real estate
license.
2. The salesperson must be paid on a
commission basis.
3. The salesperson must have a written
contract with the broker specifying the
salesperson is not
an employee.
Sally, is an unlicensed assistant to Agent
Bill at ABC Realty. In her role as a
transaction
coordinator, Sally recently called a buyer
and discussed some minor title issues that
turned up
in the title search. She also mentioned to
the buyer that rates are down, and that,
considering
the buyer's situation, an FHA loan might be
more attractive than a conventional loan.
Based
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