Va agency and partnership - Study guides, Class notes & Summaries

VA: Respondeat Superior correct answersthe principal is liable for torts committed by agents if (1) there is a principal agent relationship and (2) the tort occurs within the scope of that relationship. VA: Principal - Agent Relationship correct answersNEED ALL THREE: (1) Assent: an informal agreement between the principal (with capacity) and the agent (voluntary and assenting, albeit informal) (2) Benefit: the agent's conduct is for the principal's benefit. (3) Control: the ...

An appraisal can be completed by which of the following? A home inspector A real estate broker A licensed appraiser using USPAP standards A mortgage loan originator - ANSWERA licensed appraiser using USPAP standards What is a BPO? Broker Price Opinion Best Practice Organization Best Prospective Offer Beyond Present Opportunities - ANSWERBroker Price Opinion Which of the following is incorrect? Farming methods include Direct Mail and Just Listed Post Cards. Farming only invo...

Sales associate, Tim, received a signed contract from a buyer and mailed it to the seller. The seller agreed to the terms and the escrow deposit was deposited safely in the broker's escrow account. Tim has a disagreement with his broker and quits. The broker refuses to pay a commission since Tim was not in their employ when the contract was actually received and signed. What should Tim do? a. Notify the state b. Sue the seller for his share c. Sue the broker d. Forget it; he is not en...

Sole Proprietor: Principal Broker Owner - Answer An individual broker, not a firm, trading under his or her bame or a ficticious name registered with the board. NO business entity firm license required Sole Proprietor: Non-Broker Owner - Answer A brokerage firm owned by an unlicensed individual. The firm must get a business entity firm license before transacting RE business. The firm still must have a licensed principal broker Inactive Status - Answer Any broker or salesperson not under su...

Civil Service practice for Louisiana state Exam 150 Questions with Verified Answers Which of the following statements is true regarding Purchase Agreements? Select one: a. They must have a definite expiration date. b. They do not have to have an expiration date. c. A copy must be filed with the Real Estate Commission. d. A copy must be retained by the broker for 10 years. - CORRECT ANSWER They must have a definite expiration date. Under what conditions may a person or comp...

Virginia Real Estate License Exam Qs and Answers Graded A+ A nonresident who obtains a license as an active salesperson in VA is required to do which of the following? 1. Move to VA within 6 months of licensure. 2. Post a bond. 3. Maintain an escrow account in VA. 4. Activate with a VA licensed broker. 4. Activate with a VA licensed broker. The purpose of the VA real estate license law and Board related rules and regulations is to... Protect the public interest Two brokers are involved in ...

CPRP Exam: Domain VI Systems Competencies. Exam Review, Rated A advocacy - -focus and purposive effort to create change on behalf or w/ specific populations What is the key role of PsyR in advocacy? - -obligation to develop advocacy skills to change policies, programs, and practices for positive change PsyR as an advocate role seeks to - --create a society that has equal opportunities -ensure that programs and services are accessible, effective, appropriate, flexible, comprehensive, ad...

Real Estate Finance Essentials Exam Study Guide Rated A+ Financial leverage is described as using other people's money to acquire something of value. A couple would be able to make a wedding gift to their daughter and her new husband of up to $56,000. Special provisions for agricultural loans may include any of the following EXCEPT follow a rigid payment program. One of the primary duties of the Federal Housing Finance Agency is to regulate Fannie Mae and Freddie Mac. The primary activity t...

Virginia Real Estate License Exam questions and answers latest top score. A nonresident who obtains a license as an active salesperson in VA is required to do which of the following? - correct answers.4. Activate with a VA licensed broker. The purpose of the VA real estate license law and Board related rules and regulations is to... - correct answers.Protect the public interest Two brokers are involved in a dispute over a commission split. Which of the following could ...

A mold informational pamphlet is to be distributed to buyers by licensees at the time a lease of contract to purchase is entered into - Which of the following statements is/are true regarding the mold informational pamphlet FHA, VA, Loans covered by Louisiana Consumer Credit Law, Loans for commercial or business purpose, loans to corporations or partnerships - Which of the following types of loans are exempt from the Louisiana usury law one month - A Lessor must return a deposit to the les...