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Law of Agency Bundled Exams with Complete Solution | Expert Verified 2024 | Guaranteed Success
Law of Agency Bundled Exams with Complete Solution | Expert Verified 2024 | Guaranteed Success
[Mostrar más]Law of Agency Bundled Exams with Complete Solution | Expert Verified 2024 | Guaranteed Success
[Mostrar más]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 authori...
Vista previa 2 fuera de 11 páginas
Añadir al carritoThis 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 authori...
Here are the four major types of agency acts: Listing 
Buying 
Leasing 
Property Management 
TREC's purpose is to regulate educational and licensing programs that maintain 
standards AND interpret legislation that affects the real estate profession — primarily the 
Texas Real Estate License Act (...
Vista previa 3 fuera de 25 páginas
Añadir al carritoHere are the four major types of agency acts: Listing 
Buying 
Leasing 
Property Management 
TREC's purpose is to regulate educational and licensing programs that maintain 
standards AND interpret legislation that affects the real estate profession — primarily the 
Texas Real Estate License Act (...
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 authori...
Vista previa 4 fuera de 88 páginas
Añadir al carritoThis 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 authori...
Which of the following definitions most closely defines agency 
A. . A relationship between an agent and a principal whereby the agent is subject to the 
control of the principal. 
B. A legal relationship by agreement of an agent and a principal whereby the principal is 
governed by the agent's dec...
Vista previa 2 fuera de 11 páginas
Añadir al carritoWhich of the following definitions most closely defines agency 
A. . A relationship between an agent and a principal whereby the agent is subject to the 
control of the principal. 
B. A legal relationship by agreement of an agent and a principal whereby the principal is 
governed by the agent's dec...
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 i...
Vista previa 2 fuera de 10 páginas
Añadir al carritoWhich 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 i...
Most lawsuits involve issues of who did or did not represent whom. The number of lawsuits is: 
A. Increasing 
B. Decreasing 
C. Stabilizing over the last several years 
D. Broker lawsuits are not allowed. A. Increasing 
The correct answer is A. A broker is more likely to be sued because he failed to...
Vista previa 4 fuera de 61 páginas
Añadir al carritoMost lawsuits involve issues of who did or did not represent whom. The number of lawsuits is: 
A. Increasing 
B. Decreasing 
C. Stabilizing over the last several years 
D. Broker lawsuits are not allowed. A. Increasing 
The correct answer is A. A broker is more likely to be sued because he failed to...
A buyer's agent may not tell the buyer any information told to the agent by the owner: False 
If a salesperson is an employee, the broker/employer must withhold income tax and Social 
Security from the salesperson compensation True 
The broker may give the seller advice and opinions about the price...
Vista previa 2 fuera de 11 páginas
Añadir al carritoA buyer's agent may not tell the buyer any information told to the agent by the owner: False 
If a salesperson is an employee, the broker/employer must withhold income tax and Social 
Security from the salesperson compensation True 
The broker may give the seller advice and opinions about the price...
What are the duties of an agent Fiduciary Duties (OLD CAR) 
- Obedience 
- Loyalty 
- Disclosure 
- Confidentiality 
- Accounting 
- Reasonable care 
Types of Agents - Universal Agency; power to act for the principal in all transactions. 
- General Agency; represents principal in a particular type o...
Vista previa 3 fuera de 21 páginas
Añadir al carritoWhat are the duties of an agent Fiduciary Duties (OLD CAR) 
- Obedience 
- Loyalty 
- Disclosure 
- Confidentiality 
- Accounting 
- Reasonable care 
Types of Agents - Universal Agency; power to act for the principal in all transactions. 
- General Agency; represents principal in a particular type o...
What are the duties of an agent? OLDCAR - 
Obedience 
Loyalty 
Disclosure 
Confidentiality 
Accounting of funds 
Reasonable care and due diligence 
General agent An individual has the right to represent his or her principal in a particular 
type of transaction or business. One common example is the ...
Vista previa 4 fuera de 31 páginas
Añadir al carritoWhat are the duties of an agent? OLDCAR - 
Obedience 
Loyalty 
Disclosure 
Confidentiality 
Accounting of funds 
Reasonable care and due diligence 
General agent An individual has the right to represent his or her principal in a particular 
type of transaction or business. One common example is the ...
If a buyer hires a broker under a buyer representation agreement, the principal is the: 
buyer. 
If a seller signs a listing agreement with a broker, the ________ is the listing agent. 
broker 
There is no third party customer in ________ representation. 
intermediary 
The role each party (client, b...
Vista previa 2 fuera de 8 páginas
Añadir al carritoIf a buyer hires a broker under a buyer representation agreement, the principal is the: 
buyer. 
If a seller signs a listing agreement with a broker, the ________ is the listing agent. 
broker 
There is no third party customer in ________ representation. 
intermediary 
The role each party (client, b...
What are the minimum services an agent 
must offer; According TRELA subchapter 1101.557b states a broker representing a party 
or listing real estate for sale is the party's agent and 
1. May not instruct another broker to directly or indirectly violate the sub chpt-1101.65b22, 
2.Must inform the p...
Vista previa 2 fuera de 13 páginas
Añadir al carritoWhat are the minimum services an agent 
must offer; According TRELA subchapter 1101.557b states a broker representing a party 
or listing real estate for sale is the party's agent and 
1. May not instruct another broker to directly or indirectly violate the sub chpt-1101.65b22, 
2.Must inform the p...
Real estate agents are considered to have which kind relationship with clients? A 
fiduciary relationship 
Acting as which of the following is a violation of The Real Estate License Act? Acting as 
a broker without possessing a valid license issued by the Texas Real Estate Commission 
Which of the f...
Vista previa 2 fuera de 11 páginas
Añadir al carritoReal estate agents are considered to have which kind relationship with clients? A 
fiduciary relationship 
Acting as which of the following is a violation of The Real Estate License Act? Acting as 
a broker without possessing a valid license issued by the Texas Real Estate Commission 
Which of the f...
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