Fiduciaries duties - Study guides, Revision notes & Summaries

A FIDUCIARY RELATIONSHIP A RELATIONSHIP WHERE THE AGENT ACTS ON BEHALF OF THE CLIENT A COOPERATIVE BROKER SELLS THE LISTING OF ANOTHER BROKER UNSCRUPULOUS LICENSE HOLDERS THE TEXAS REAL ESTATE COMMISSION'S MAIN PURPOSE IS TO PROTECT THE PUBLIC FROM AGENCY AN AGENCY RELATIONSHIP EXISTS WHEN ONE PERSON ACTS FOR OR ON BEHALF OF ANOTHER PERSON. The licensee did not know of the falsity of the misrepresentation The amendments in 1996 to the License Act state that an ...

Real Estate Exam: Law of Agency Questions and Answers Already Passed This person hires an agent The Principal The agent works on behalf of this person the client (principal) This type of agency allows for the greatest range of authority Universal This is provided to the agent when there is written documentation that the agency relationship exists. Express authority This is the most limited of all the agency relationships Special agency This type of agency is created when a 3rd party believe...

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 relationship is a fiduciary relationship, meaning that it is based on trust. p. 9 the agent, the principal _____ is the relationship between two parties, a principal, and an agent. Agency The _____ is th...

Mariah is in year 23 of a 55-year leasehold interest in her Hawaii property. She wants to move out of state. Which of these is true? a) Her landlord must buy her out of her ownership interest. b) Her landlord must convert the property to fee simple ownership. c) She may sell her leasehold interest, and the lease term resets to the original number of years. d) She may sell her leasehold interest subject to the years remaining on her lease. d) She may sell her leasehold interest subject to ...

"Constructive Receipt" is normally applicable to the tax treatment of... - Answer-Non-Qualified Deferred Compensation Plans Non-Qualified Deferred Compensation - Answer-TCHRA: Compensation that is not immediately taxable. It does not qualify under ERISA for tax exemption. Taxation occurs once the individual receives the compensation or "property" A 1035 exchange refers to a tax free exchange of... - Answer-Annuities 1035 Exchange - Answer-IRS allows tax-free transfer of cash values bet...

"Constructive Receipt" is normally applicable to the tax treatment of... - Answer-Non-Qualified Deferred Compensation Plans Non-Qualified Deferred Compensation - Answer-TCHRA: Compensation that is not immediately taxable. It does not qualify under ERISA for tax exemption. Taxation occurs once the individual receives the compensation or "property" A 1035 exchange refers to a tax free exchange of... - Answer-Annuities 1035 Exchange - Answer-IRS allows tax-free transfer of cash values bet...

AFSB 153 Sample Exam Questions and Answers 100% Accurate The surety relationship includes all of the following parties, EXCEPT: a. Surety b. Fiduciary c. Obligee d. Principal b. Fiduciary All of the following are recognized bond terms, EXCEPT: a. Noncancelable (open term) b. Definite term c. Continuous term d. Revolving term d. Revolving term Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:05 / 0:15 Full screen In ...

Exam: Law of Agency – Champions Questions and Answers 100% Pass 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 ...

Under the DOL regulation, many advisors to retirement plans and their participants will be - Answer- 3(21) fiduciaries. They will act alongside other fiduciary service providers who are also not necessarily named in the plan document but who exercise discretionary control over plan provisions or plan investments. The advisor should educate the - Answer- plan sponsor about hiring fiduciary service providers, including the different roles service providers, including the different roles service...

AFSB 153 Sample Exam Questions and Answers latest updated 2024 The surety relationship includes all of the following parties, EXCEPT: a. Surety b. Fiduciary c. Obligee d. Principal b. Fiduciary All of the following are recognized bond terms, EXCEPT: a. Noncancelable (open term) b. Definite term c. Continuous term d. Revolving term d. Revolving term Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:07 / 0:15 Full scree...