Real Estate/Law of Agency Bundled Exams Questions and Answers with Certified Solutions

Real Estate Contract Forms and Addenda Exam 2 (2023/2024) 100% Pass What is Paragraph 5 in the promulgated contract address? Earnest Money What does Earnest Money Serve? As liquidated damages in the event of default Is earnest money required? NO Failure to Deliver Earnest Money in a timely manner...

Law of Agency Questions and Answers Already Passed Article 2. _____ Article 3. _____ Article 4. _____ _____ Integrity, Competency, Consumer Information An agency relationship exists when one person,_______, acts for or on behalf of another person,_____, who is also known as the client. This relat...

Texas Law of Agency: Quiz Questions with Complete Solutions One who acts for and with authority from another, called the principal, is known as a/an...? Agent Attorney Employee Partner Agent If an individual works as an associate broker, who must they work under...? An associate licensee An a...

Real Estate: Texas Law of Agency (2023/2024) 100% Pass Agency A relationship established between a principal and a real estate agent Agent The person who is authorized to represent and act on the behalf of another person Brokerage Agreement A written or oral agreement for brokerage services in exc...

Real Estate Agency chapter 12 review (2023/2024) Rated A The DTPA prohibits as unlawful all of the following EXCEPT moral acts Which statement is NOT true with respect to the Texas DTPA? a licensee can safely rely on a written and signed waiver Which is NOT an example of damages available under th...

Texas Law of Agency- CE Source Questions and Answers Graded A Which entity may act independently in conducting a real estate transaction? Broker Which of the following is NOT a growing trend in real estate transactions? 1. Lower consumer expectations. 2. Use of buyer brokerage. 3. Legal protecti...

Law of Agency-Final Exam Review Questions and Answers Already Passed What are the minimum services an agent must offer; According TRELA subchapter 1101.557b states a broker representing a party or listing real estate for sale is the party's agent and 1. May not instruct another broker to directly ...

Agency-- Real Estate Questions and Answers 100% Pass A broker or salesperson owes customers Honesty, fairness, and disclosure of material facts about the property The initial disclosure of an agency relationship may be Oral or written An agency relationship would NOT be terminated by Marriage of t...

Ch. 6 _ Intermediary _ Quiz (2023/2024) Graded A 1. An associate of a broker, while working with a nonrepresented buyer, begins to give advice and opinions to the buyer during negotiations with a seller represented by the broker. MOST likely the broker has become a(n) a. single agent of the buyer....

Texas Real Estate Agency: Chapter 4 Questions and Answers Already Passed Which is required to create an agency relationship? A belief that the relationship exists. Express agency Express agency is created by either an oral or a written agreement between the principal and the agent. It indicates the...

Unit 1 - Agency Concepts Questions and Answers Rated A Can the buyer in a real estate transaction ever be considered a client? A) No, only sellers are clients because they work with agents. B) Yes, only if the buyer agrees to use the seller's agent. C) No, TRELA defines "client" as a selle...

Texas Real Estate Agency: Chapter 2 Graded A An example of a general agency relationship would be one that exists between the sales associates and the broker. Special agency occurs when the principals give an agent a limited authority to act on their behalf. Brokers can buy a property listed with ...

Texas Real Estate Agency (2023/2024) Already Graded A accidental agency an unintended agency relationship that is created by actions or words. agency relationship the fiduciary relationship that exists when one person (agent) represents the interest of another (principal) in dealing with others, wi...

Deceptive Trade Practices and Consumer Protection Act Unit 11 - (2023/2024) Already Passed According to case law interpreting the professional services exemption to the DTPA, what type of statement is NOT covered by the professional services exemption? A) A statement of judgment B) A statement ...