Ministerial acts - Study guides, Class notes & Summaries

National Portion - Real Estate Exam Prep Questions and Answers Rated A+ agency a consensual fiduciary relationship authorizing a broker to act on the behalf of a client Fiduciary Relationship a relationship in which one party places special trust, confidence, and reliance in a trusted person Principal a person (client) who empowers another (agent) to act as his or her representative in a real estate transaction client those which have entered into a written agency agreement with ...

Georgia MLS Practice Class Questions and Answers 100% Pass "Buy-down" describe a financing method that makes homes more affordable for prospective buyers by reducing payments in the early years of the loan. Regarding this loan technique, which of the following is true? Lenders are paid up front fees to lower the interest for a borrower in the first few years of the loan, however, negative amortization does not occur A broker has a listing for which the seller desires to net at leas...

The purpose of the NH Real Estate Commission is to - Answer-License and regulate real estate agents Entry Only Listings (limited service listings) are - Answer-Considered listings and must comply with listing requirements Look up entry only listings - AnswerAppointing Agents - Answer-Appoint real estate licensees to represent clients in real estate offices that practice designated agency A fiduciary client relationship - Answer-Requires a contractual brokerage agreement what is fiduciary -...

NH Real Estate Exam Questions and Answers 100% Correct Score The purpose of the NH Real Estate Commission is to - Correct Answer ️️ -License and regulate real estate agents Entry Only Listings (limited service listings) are - Correct Answer ️️ -Considered listings and must comply with listing requirements Look up entry only listings - Correct Answer ️️ - Appointing Agents - Correct Answer ️️ -Appoint real estate licensees to represent clients in real estate offices that p...

NH Real Estate Exam Questions and Answers 100% Pass Purpose of NH Real Estate Commission - Correct Answer ️️ -License and regulate real estate agents. Entry Only Listings - Correct Answer ️️ -Considered listings and must comply with listing requirements Appointing Agents - Correct Answer ️️ -Appoint real estate licensees to represent clients in real estate offices that practice designated agency A fiduciary client relationship - Correct Answer ️️ -Requires a contractual b...

The Commission's authority is based upon: - correct answer -Statutory law Agency can best be described as: - correct answer -A written representation agreement between Broker and client. Charging advance brokerage fees is: - correct answer -A duty of a broker. The Commission rules and regulations may be adopted under what circumstances? - correct answer -They must fall under the "umbrella" of the license law. Which is true concerning the Commission's due process? - correct answer...

The Commission's authority is based upon: Statutory law Agency can best be described as: A written representation agreement between Broker and client. Charging advance brokerage fees is: A duty of a broker. The Commission rules and regulations may be adopted under what circumstances? They must fall under the "umbrella" of the license law. Which is true concerning the Commission's due process? Any new rules passed must not increase business costs without a compelling need. Whic...

A landlord must return a security deposit to a tenant and pay the interest due within how many days? - 30 days Performing ministerial acts does not create an agency relationship providing the consumer is given a written what? - Agency Disclosure Copies of written instruments must be provided to any party executing documents in what amount of time? - without delay When listing a 1 to 4 family for sale, a licensee must ask the seller for the following information EXCEPT: a. private water su...

What fines may be imposed by the Commission for rules violations? A maximum of $1,000 for a single offence or $5,000 for multiple violations Charging advance brokerage fees is a duty of a broker. Agency can best be described as a written representation agreement between broker and client. Which is true concerning the Commission Chairperson? He is appointed by the Commission members annually. The Georgia Real Estate Commission is comprised of 6 members appointed by the governor and co...

The Commission's authority is based upon: - Statutory law Agency can best be described as: - A written representation agreement between Broker and client. Charging advance brokerage fees is: - A duty of a broker. The Commission rules and regulations may be adopted under what circumstances? - They must fall under the "umbrella" of the license law. Which is true concerning the Commission's due process? - Any new rules passed must not increase business costs without a compelling need. Wh...