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Unit 3 - Real Estate Agency questions with answers. $9.49   Add to cart
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Unit 3 - Real Estate Agency questions with answers.
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Unit 3 - Real Estate Agency questions with answers.

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  • September 26, 2024
  • 4
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • unit 3 real estate agency questions with answers

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  • MLBPA
  • MLBPA

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Unit 3 - Real Estate Agency questions
with answers.

True or False - An agent employs another to act on his behalf. ANS -False



True or False - An agent may disobey unlawful or unethical instructions from a principal. ANS -True



True or False - An agent owes the principal the fiduciary duties of obedience, loyalty, disclosure,
confidentiality, accounting, and reasonable skill and care. ANS -True



True or False - The duty of loyalty requires an agent to place the principal's interests above those of all
others, including the agent's own self-interest. ANS -True



True or False - If a property is being sold as-is, the agent has no duty to disclose knowledge about a
leaking roof. ANS -False



True or False - An agent owes a customer the duties of honesty and fair dealing, as well as disclosure of
known facts about the property. ANS -True



True or False - Typically, property managers are general agents for brokers, and salespersons are general
agents for owners. ANS -False



True or False - Universal agency can be created by a general power of attorney, which makes the holder
an attorney-in-fact. ANS -True



True or False - Oral commission contracts are enforceable. ANS -False



True or False - Implied agency is created by an express written representation contract. ANS -False

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