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AYPO Real Estate Law of Agency Final Exam Review WITH 100- SURE ANSWERS.
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AYPO Real Estate Law of Agency Final Exam Review WITH 100- SURE ANSWERS.
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EUNICEAYPO Real Estate Law of Agency Final Exam Review WITH
100% SURE ANSWERS
Real estate agents are considered to have A fiduciary relationship
which kind relationship with clients?
Acting as which of the following is a Acting as a broker without possessing a valid license issued by the Texas Real Estate
violation of The Real Estate License Act? Commission
1. Agents who are well versed in the aspects of the agency roles can project an aura
of confidence that can calm a nervous client
Which of the following is a reason to study
2. Agents who follow the law are less prone to being held liable for harm suffered by
the aspects of agency and agency law?
clients or customers
3. Agents who follow the law have a better reputation with the public
A licensee who is representing a buyer is 1. The seller's agent
required to treat which of the following in 2. The seller
an honest and fair manner? 3. The buyer
Brokers have which of the following with a Privity of contract
client?
True or False: Apparent authority is FALSE
expressly detailed in the contract that
establishes the agency relationship.
A principal becomes disabled and gives a universal agent.
authority to an agent to act on behalf of
the principal in nearly all circumstances.
This type of agent is...
Which one of the following is not one of Punctuality
the commonly recognized fiduciary duties?
According to Section 1101.558 of TRELA, 1. Another licensee who represents another party to the transaction
which of the following parties must be 2. Another party to the transaction
provided with a disclosure when the first
instance of contact occurs?
What is the term for a duty owed by an Non-fiduciary duty
agent to someone who is not the principal
party?
1/5
, The duty of a seller's agent to be loyal to seller / buyer
the ____ trumps the duty to be forthright
with the ____ _.
What is the term for a person or Third party
organization that a person interacts with
while acting as an agent for a principal
party?
information about a person which is not public knowledge but which will most likely
What is private information?
not result in identity theft if it is revealed
What is the name of the form created by The Seller's Disclosure of Property Condition
TREC to help sellers meet the requirements
of Section 5.008 of the Property Code?
Who has the right to choose whether to The seller
disclose non-material stigmas related to a
property being sold?
1. Exclusive Right-to-Sell
Which of the following is a type of listing
2. Open
agreement?
3. Net
What is the term for a transaction in which In-house sale
licensees from the same brokerage
represent both the buyer and seller?
A seller who has established a listing 1.experience.
contract with a broker benefits from the 2.knowledge.
broker's... 3.access to resources possessed by the brokerage.
An agency agreement between a A listing agreement.
supervising broker and their selling client
generally takes a written form as which of
the following?
When is a licensee required to provide a At the time of first substantive dialogue
seller with a written statement which
contains the disclosure describing services
which may be expected from an agent of a
seller?
True or false: a non-exclusive right to TRUE
represent buyer-broker agreement requires
the buyer to pay commission to the broker
for services rendered.
Who does a buyer representation The broker who sponsors that sales agent
agreement drafted by a sales agent belong
to?
All real estate contracts (with the exception termination date.
of property management contracts) are
required to contain a...
When setting up a buyer representation Promise to do things that are outside their area of expertise
agreement, the licensee must make sure
that he or she does not do which of the
following?
2/5
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