Affiliated licensee - Study guides, Class notes & Summaries

Texas State Portion Real Estate Exam Questions and Answers Already Passed Who is responsible for any wrongs done by a salesperson while acting within the scope of the agency agreement? The broker is liable for the wrongdoing of his or her salespersons. The principal is liable for any wrongs committed by the broker while acting within the scope of the agency agreement. what is the distinction between sales contracts and option contracts? One characteristic of sales contracts is mutual obligatio...

Washington Real Estate Practices Exam Questions & Answers Budgeting and Planning - Ans ️️ -New agents should treat the beginning of their career like starting a new business. This means having a business plan, developing a budget, purchasing equipment, and planning for other expenses. The Real Estate Brokerage Relationships Act - Ans ️️ -is the Washington statute that governs agency relationships in real estate transactions. For the most part, it supersedes general agency law in t...

A firm's satellite office at a new condominium does not need a managing broker on site if it is within how many miles of the nearest branch office? A) 20 B) 35 C) 40 D) 50 - Answer- B) 35 Feedback: Correct: State regulations allow a satellite sales office without a managing broker present if is within 35 miles of the nearest branch office. When a licensee is determined by the state to not be in compliance of court-ordered child support payments, the Department of Licensing can: A) s...

Maine Real Estate Test 2024/2025 Questions And Answers 100% Accurate Graded A+. For what minimum period of time must a real estate brokerage agency retain copies of rejected offers and counteroffers? A. 1 year B. 2 years C. 3 years D. 5 years - ANSWER-No, rejected offers and counteroffers must be retained for 1 year. A designated broker in Maine is: A. Responsible for the brokerage activities of anyone in her real estate brokerage agency. B. Any licensee with an active Broker license. ...

In Washington, a person liscensed to act on behalf of a real estate brokerage is called a/an: - Answer- affiliated licensee When a licensee is terminated, the date of termination is the: - Answer- postmark date or the date the license is hand-delivered to the DOL J is selling real estate without a license, J is guilty of a: - Answer- gross misdemeanor S's license is temporarily suspended by the Director for a violation of the license law. S is also fined $500. The money collected as a ...

National Real Estate Exam Prep Answered 100% Correctly 2024 National Real Estate Exam Prep Answered 100% Correctly 2024 Unilateral Contract Contract containing ONE promise given in exchange for completing an act. NO obligation to act. Bilateral Contract Contract containing TWO promises. Example: A listing agreement is a bilateral contract Client/Principal A person who has entered into an agency relationship w/ a licensee & with whom there is a written contract Customer Any 3rd p...

Washington Real Estate TrainAgents AMP Pre-License Mock Exams 300 QUESTIONS AND ANSWERS WITH RATIONALE Mock Exam 1 - CORRECT ANSWER A firm's satellite office at a new condominium does not need a managing broker on site if it is within how many miles of the nearest branch office? A) 20 B) 35 C) 40 D) 50 - CORRECT ANSWER B) 35 Feedback: Correct: State regulations allow a satellite sales office without a managing broker present if is within 35 miles of the nearest branch office....

Maine Law Real Estate TRELG Exam Questions With Correct Answers Graded A+ True or False: With appointed agency, one affiliated licensee represents the client to the exclusion of all other affiliated licensees of the brokerage agency; more than one may be appointed if there is a team or a licensee is covering for vacation. A. TrueB. False A. True When must a client give consent to disclosed dual agency? A. At the time the client signs a listing agreement or buyer representation agreement w...

SC REAL ESTATE - STATE PORTION EXAM REVIEW QUESTIONS AND ANSWERS, GRADED A+/ Associated Licensee - -Licensee who is affiliated with a BIC Broker - -For a fee, salary, commission Negotiates, Auctioins, Solicits a referral, Offers advisory services, Offers to act as an agent, Advertises Broker-in-Charge - -Has responsibility over actions of all associated licensees and real estate trust accounts Client - -Person with whom a licensee has an established agency relationship Customer - -Pers...

South Carolina - State Exam Practice Questions and Answers If a brokerage firm changes its name, address, phone, or email, within how many days must the commission be notified? A. 10 days B. 30 days C. Immediately D. Seven days - Correct Answer ️️ -A. 10 days The broker-in-charge must notify the real estate commission of changes to name or contact information within 10 days. Which of these would NOT be considered first substantive contact with a customer? A. Asking a couple why th...