Cooperating firm - Study guides, Class notes & Summaries

Which of the following has the authority to suspend or revoke a Texas real estate license? - Answer- TREC Which of the following is an element of a listing agreement? - Answer- the agreement to pay a stated commission, usually a percentage of the sales price the IRS considers which of the following a violation of independent contractor status? - Answer- salesperson is told to work set hours, guaranteed a monthly minimum wage, has his licensing fees paid by the broker the TAR buyer repre...

Real Estate Complete Guide A buyer client in Kentucky is suing Janet for an inadvertent mistake she made in a real estate transaction. What insurance policy covers this type of situation? ️Errors and omissions insurance (E&O insurance covers licensees who are sued by consumers for inadvertent mistakes in a real estate transaction) A Kentucky licensee sells a property for $325,000. The total commission rate is 6%, which is split evenly with the cooperating agent. What amount goes t...

Superior Real Estate School: Study for Retake Pre-Licensing Course Exam| Question and Answers, 100% Correct| Latest 2024 Designated agency in North Carolina is considered: I. A form of dual agency II. Mandatory if you practice dual agency A. I only B. II only C. Both I and II D. Neither I nor II A. I only Designated agency can be practiced: I. Between two firms II. Between a broker-in-charge and a provisional broker licensee in their office A. I only B. II only C. Both I and II D....

The WB-11 Residential Offer to Purchase describes which of the following as the way an earnest money payment should be handled as a result of a sale involving cooperating firms? - CORRECT ANSWER-The selling licensee should have all earnest money checks paid directly to the listing firm... Explanation: The Earnest Money section of the offer states: "Unless otherwise agreed, earnest money shall be paid to and held in the trust account of the listing broker." An appraisal would most likely ...

KY State Exam Practice Verified Answers A licensee's principal broker or the broker's designated representative must attend the hearing for license law violations in Kentucky if the accused licensee ______. A. Has held a license for fewer than five years B. Is a new licensee C. Is a sales associate D. Is a trainee C. Is a sales associate Amanda helps her neighbor sell his home in Louisville by assisting him with the negotiations. She receives no compensation for her assistance....

A licensee was showing property in an eight-unit complex to a prospective tenant using a motorized wheelchair. The tenant wanted to rent a unit, install grab bars in the bathroom, and lower all the door handles. The landlord: o :## Must allow the tenant to make the modifications at the tenant's expense, but can require, by the terms of the lease, restoration of the property. Which of the following is the best description of a fee simple estate? o :## The most complete ownership in prop...

WGU C211 - Global Economics for Managers Exam Questions With Fully Verified Answers Value - Resources must create value when engaging rivals Rarity - Certain assets are rare, giving an advantage in competitive dynamics Imitability - The inability to have your company imitated would give you a clear advantage in the market Organization - Some firms are better organized for competitive actions than others; it is challenging for slow-moving firms to wake up and become more aggressive - answ...

Designated agency in North Carolina is considered: I. A form of dual agency II. Mandatory if you practice dual agency A. I only B. II only C. Both I and II D. Neither I nor II Answer- A. I only Designated agency can be practiced: I. Between two firms II. Between a broker-in-charge and a provisional broker licensee in their office A. I only B. II only C. Both I and II D. Neither I nor II Answer- D. Neither I nor II Under the general principles of agency, when a licensee is act...

Designated agency in North Carolina is considered: I. A form of dual agency II. Mandatory if you practice dual agency A. I only B. II only C. Both I and II D. Neither I nor II - ANSWER A. I only Designated agency can be practiced: I. Between two firms II. Between a broker-in-charge and a provisional broker licensee in their office A. I only B. II only C. Both I and II D. Neither I nor II - ANSWER D. Neither I nor II Under the general principles of agency, when a licensee is a...

Hawaii Real Estate Review Quiz 1 100% Correct Solved The ownership of a condo unit differs from that of an ownership in a co-op apt project in which of the following ways A) You can be deeded fee simple title on a condo unit B) THe owner of a co-op apt projects owns an undivided interst in the entire project C) Condo's are subject to subdivision laws D) They are identical - Correct Answer ️️ -A) You can be deeded fee simple title on a condo unit A licensed broker can establish his m...