Vocation business - Study guides, Revision notes & Summaries

"Dual agency" does not exist unless both the seller and the buyer in a real estate transaction have written agency agreements with the same real estate brokerage firm. (T/F) - True 43-23-11.1 - Licenses may be suspended or revoked after investigations stemming from written complaints or actions initiated by the commission for: - A. Making material false statement B. Misrepresentation C. False promises to induce transactions D. Dual Agency without consent from both parties E. Commingling...

TSI Testing 126 Questions with Verified Answers In 2010, talk show host Oprah Winfrey and novelist Jonathan Franzen kissed and made up after a nine-year feud. In 2001, Franzen was disinvited from appearing on Winfrey's TV show to pitch his novel The Corrections after he made it clear that he was unhappy about the book's being chosen for the Oprah Book Club. Describing his work as "in the high-art literary tradition," Franzen said he didn't want to be associated with the Club, which he a...

Ethics Journal Module 1: Week 1 Reading: Hill - Ch. 1 1. What do you think Maria should do? Why? A: Maria should fire Abe. I feel this way due to the fact that both Abe and Barb are very comparable when looking at production. Barb does have some family issues impacting her performance (which can be addressed later by Maria). Though Maria did tell Abe this would be a long-term position, things have changed, and the company is moving in a different direction that is outside of her control....

The Code defines __________ as "honesty in fact in the conduct or transaction concerned." correct answers good faith The definition of "usage of trade" includes: correct answers a practice regularly observed and followed in a place, vocation, or trade. A merchant is defined as a person who: a. is a dealer in a particular type of goods. b. by his occupation holds himself out as having knowledge or skills peculiar to certain goods or practices. c. employs an agent or broker whom he ho...

LVMH Facts Study Guide Exam. LVMH Mission Statement - CORRECT ANSWER The mission of the LVMH group is to represent the most refined qualities of Western "Art de Vivre" around the world. LVMH must continue to be synonymous with both elegance and creativity. Our products, and the cultural values they embody, blend tradition and innovation and kindle dream and fantasy. LVMH Vision - CORRECT ANSWER LVMH has successfully preserved a family spirit that places priority on long-term vision. Th...

What is a trade? - Skilled manual or mechanical work. Examples: Painter, Carpenter, Electrician, etc. What is a profession? - A vocation requiring advanced education and training. Examples: Physician, Dentist, Attorney, Veterinarian, etc. What is an occupation? - An activity or pursuit in which a person is engaged; a person's usual or principal work or business. What are the two parts of the definition of "Business"? - Part 1 - A business includes a trade, profession, or occupation...

Hocklys Insolvency Law 9th E Page v Preface This ninth edition of Hockly’s Insolvency Law follows the expanded format of the previous three editions, and its basic purpose remains the same: to provide a concise, yet fairly detailed, account of the law of insolvency, winding-up, and business rescue proceedings (which have replaced judicial management). The book aims at a wide readership. For the subject specialist, it offers an update of recent developments in the law relating to insolv...

PSI Real Estate Practice Exam - Michigan (Chapter 1)Designated Agent - correct answer A person authorized by the broker to act as the agent of a specific principal - common in dual agency relationships, two salespersons from the same company can represent opposite sides of the sale. Income Approach - correct answer What approach does an appraiser take primarily for an investment property? 1.) "Personal Assistant" (Answer) 2.) "Agent-Assistant" 3.) "Proxy-Agent" 4.) "Broker-Assign...

BB Practice Test 2 RIBO Questions and Answers 100% Solved As a broker holding a restricted license you are not able to: a) Sell insurance policies on behalf of more than one insurer b) Open and operate a trust account c) Counsel Potential clients on the insurance choices available d) Bind coverage b Rules and agreements concerning binding insurance coverage by brokers are: a) Laid out in the Insurance Act of Ontario b) Set by RIBO and are uniform and apply to every insurance broker firm i...

NJ Life Insurance Exam Correct answers latest update Adverse Selection insuring of risks that are more prone to losses than the average risk lapse policy termination due to nonpayment of premium Insurance transfers risk of loss from an individual or business entity to an insurance company which in turn spreads the costs of unexpected losses to many individuals Life Insurance protects against loss associated with an insured's death, and pays a death benefit to beneficiaries u...