Fiduciaries duties - Study guides, Revision notes & Summaries

Which of the following has the authority to suspend or revoke a Texas real estate license? → TREC Which of the following is an element of a listing agreement? → the agreement to pay a stated commission, usually a percentage of the sales price the IRS considers which of the following a violation of independent contractor status? → salesperson is told to work set hours, guaranteed a monthly minimum wage, has his licensing fees paid by the broker the TAR buyer representation agreement...

CEBS GBA Exam 3 Questions with Correct Answers An employee welfare benefit plan has four basis elements. What are these elements? (Mod 1.1) - Answer-1) There must be a plan, fund or program. 2) The plan, fund or program is established or maintained by an employer. 3) The plan, fund or program is for the purpose of providing specifically listed benefits, through the purchase of insurance or otherwise. 4) Benefits are provided to participants and beneficiaries. Explain how a "plan, fun...

CPA Exam (BEC B1) Board of Directors - ANSWER-Safeguard co assets and maximize SH return. They have no individual authority and can only act as a group if theres a quorum (majority). Makes them duly constituted. BOD duties: -electing, removing, supervising officers -adopting, amending, and repealing bylaws -setting mgmt comp -initiating fundamental changes to the corp's structure BOD has sole auth to declare dists (divs) of cash/prop/shares. Liab hits books when div is declared. ...

Which of the following has the authority to suspend or revoke a Texas real estate license? - TREC Which of the following is an element of a listing agreement? - the agreement to pay a stated commission, usually a percentage of the sales price the IRS considers which of the following a violation of independent contractor status? - salesperson is told to work set hours, guaranteed a monthly minimum wage, has his licensing fees paid by the broker the TAR buyer representation agreement in or t...

Escrow and Closing Exam Questions And Answers (Verified And Updated) The best way to discover defects on a title is by: - answera search of title A title search will reveal the chain of title and any defects that may exist against the title. The CLTA standard form title insurance policy insures against - answerforgery of a deed. It insures matters of record not specifically excluded from coverage as well as matters not on record. Items not on record specifically insured against include for...

Law of Agency – Champions Exam Questions and Answers (Graded A+) Which of the following has the authority to suspend or revoke a Texas real estate license? - -TREC Which of the following is an element of a listing agreement? - -the agreement to pay a stated commission, usually a percentage of the sales price the IRS considers which of the following a violation of independent contractor status? - - salesperson is told to work set hours, guaranteed a monthly minimum wage, has his licensing...

The principal is also known as - Answer-client fiduciary relationship - Answer-a relationship founded on trust and confidence Agency Relationship - Answer-Exists when one person (the agent) acts for, or on behalf of another person (the principal). the principal - Answer-is the one who hires and gives authority to the agent Texas Real Estate License Act TRELA - Answer-Was passed 1939. The purpose is to protect the public against unscrupulous brokers and sales agents. Texas Real Estate Comm...

What are the 4 basic fiduciary standards under the Fiduciary Standard of Care? (Section 404) - Answer- 1.) Loyalty - (Exclusive purpose rule - Providing benefits to participants and their beneficiaries; and defraying reasonable expenses of administering the plan) 2.) Prudence - (Act with prudence by investigating before making any plan decisions, documenting the decision-making process, hiring experts when they don't possess the knowledge or skills to make a decision, and monitoring if their d...

Escrow and Closing Exam Questions and Answers 100% Pass The best way to discover defects on a title is by: - Correct Answer ️️ -a search of title A title search will reveal the chain of title and any defects that may exist against the title. The CLTA standard form title insurance policy insures against - Correct Answer ️️ - forgery of a deed. It insures matters of record not specifically excluded from coverage as well as matters not on record. Items not on record specifically insu...

Illinois Nursing Home Administrator Exam 1 | Latest Version | 2024/2025 | Graded A+ adjudication A determination by court of law or an administrative body with quasi-judicial functions. amicus curiae A person who has no right to appear in a pending suit but is allowed by the court to introduce argument or evidence, as a "friend of the court". assumption of the risk A legal theory which states that an individual who is aware of the hazards of an activity but engages in that activity nev...