CHAMPIONS REAL ESTATE CERTIFICATION
REVIEW SCRIPT 2026 ACCURATE Q&A
COLLECTION
◉Townhomes. Answer: sold as a distinct living unity on a individual
lot but share a common wall
◉Mixed use developments. Answer: mix of residential, office and
entertainment venues in close proximity
◉Timeshare. Answer: give the owner the right to occupy a property
for certain amount of time.
◉First time homebuyer. Answer: one who has never owned a home
◉homeowners insurance. Answer: contract with insurance company
to protect homeowner from losses related to the structure, personal
possessions and liability
◉Agency. Answer: one person(agent) acts for or on behalf of
another (principal)
,◉Prinicipal. Answer: client, give the agent the authority to act
◉Agent. Answer: one who works for the principal (client)
◉Fiduciary. Answer: relationship between the agent and the
principal; relationship based on trust
◉universal agent. Answer: full authority to conduct business on
behalf of the principal
◉General agent. Answer: represents the principal in a particular
type of transaction or business
◉special agent. Answer: limited duties are performed for the
principal
◉Duties from the agent to principal. Answer: Obedience, Loyalty,
Disclosure, Confidentiality, Accounting, Reasonable care (OLDCAR)
◉Client. Answer: represented by agent
◉Customer. Answer: not represented by agent
, ◉express authority. Answer: oral instructions given to the agent by
the principal
◉implied agency. Answer: created by the behavior of the parties
◉Ostensible agency. Answer: when actions lead another person to
assume that one is an agent
◉Agency by ratification. Answer: when an agent acts without prior
authorization and the principal accepts it
◉Agency Coupled with an interest. Answer: license holder is the
owner of a property that is being sold, or is interested in buying.
license holder must always disclose.
◉listing side. Answer: when the seller retains the services of a
broker
◉selling side. Answer: when the buyer retains the services of a
broker
◉Cooperative sale. Answer: listed by one firm but sold by another
REVIEW SCRIPT 2026 ACCURATE Q&A
COLLECTION
◉Townhomes. Answer: sold as a distinct living unity on a individual
lot but share a common wall
◉Mixed use developments. Answer: mix of residential, office and
entertainment venues in close proximity
◉Timeshare. Answer: give the owner the right to occupy a property
for certain amount of time.
◉First time homebuyer. Answer: one who has never owned a home
◉homeowners insurance. Answer: contract with insurance company
to protect homeowner from losses related to the structure, personal
possessions and liability
◉Agency. Answer: one person(agent) acts for or on behalf of
another (principal)
,◉Prinicipal. Answer: client, give the agent the authority to act
◉Agent. Answer: one who works for the principal (client)
◉Fiduciary. Answer: relationship between the agent and the
principal; relationship based on trust
◉universal agent. Answer: full authority to conduct business on
behalf of the principal
◉General agent. Answer: represents the principal in a particular
type of transaction or business
◉special agent. Answer: limited duties are performed for the
principal
◉Duties from the agent to principal. Answer: Obedience, Loyalty,
Disclosure, Confidentiality, Accounting, Reasonable care (OLDCAR)
◉Client. Answer: represented by agent
◉Customer. Answer: not represented by agent
, ◉express authority. Answer: oral instructions given to the agent by
the principal
◉implied agency. Answer: created by the behavior of the parties
◉Ostensible agency. Answer: when actions lead another person to
assume that one is an agent
◉Agency by ratification. Answer: when an agent acts without prior
authorization and the principal accepts it
◉Agency Coupled with an interest. Answer: license holder is the
owner of a property that is being sold, or is interested in buying.
license holder must always disclose.
◉listing side. Answer: when the seller retains the services of a
broker
◉selling side. Answer: when the buyer retains the services of a
broker
◉Cooperative sale. Answer: listed by one firm but sold by another
