Law Of Agency Exam Questions With
Correct Answers
One who agent is acting on the behalf of. - CORRECT ANSWER✔✔-Principal
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One who is authorized to act for or in the place of another. - CORRECT
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ANSWER✔✔-Agent
Founded in trust or confidence. A relationship in trust. - CORRECT ANSWER✔✔-
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Fiduciary
Seller Kristin meets with angel and likes his plan for marketing her home. She
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decides to sign a listing agreement with him, thereby creating a _______
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relationship. - CORRECT ANSWER✔✔-Special Agency
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Broker Susan is representing the seller at we sell it fast Reality while broker Daniel
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from Daniel Daniels's properties is working with a buyer customer. Susan is
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representing the seller. Who is Daniel representing? - CORRECT ANSWER✔✔-The
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Seller
In Texas there is no ____ agency relationship with any party to a transaction. -
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CORRECT ANSWER✔✔-Implied |
, The commission charged is negotiated between the ____ and the ____ -
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CORRECT ANSWER✔✔-Seller, broker | |
A broker's responsibility for disclosure is limited to areas: - CORRECT
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ANSWER✔✔-Accessible for visual inspection | | |
According to TREC's advertising rules which of the following terms MUST be used
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in a real estate team name? - CORRECT ANSWER✔✔-Group
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License holder must not disclose whether or not a former tenant had ____ to
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potential buyers - CORRECT ANSWER✔✔-AIDS or an HIV related disease
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TREC'S advertising rules require agents to include the broker's name, the
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brokerage name or the broker's _____ in at least 50%of the largest contact
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information font on all forms of advertising. - CORRECT ANSWER✔✔-Assumed
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Name
Any stigma that relates to a material defect in a property must be______ -
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CORRECT ANSWER✔✔-Disclosed |
Subagency is: - CORRECT ANSWER✔✔-When a license holder not associated with
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the sellers broker is representing the seller through a cooperative agreement with
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the seller's broker.
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A license holder is not required to provide the IABS when the license holder
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meets with a party who is: - CORRECT ANSWER✔✔-Represented by another
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license holder |
Correct Answers
One who agent is acting on the behalf of. - CORRECT ANSWER✔✔-Principal
| | | | | | | | | | |
One who is authorized to act for or in the place of another. - CORRECT
| | | | | | | | | | | | | | |
ANSWER✔✔-Agent
Founded in trust or confidence. A relationship in trust. - CORRECT ANSWER✔✔-
| | | | | | | | | | |
Fiduciary
Seller Kristin meets with angel and likes his plan for marketing her home. She
| | | | | | | | | | | | | |
decides to sign a listing agreement with him, thereby creating a _______
| | | | | | | | | | | |
relationship. - CORRECT ANSWER✔✔-Special Agency
| | | |
Broker Susan is representing the seller at we sell it fast Reality while broker Daniel
| | | | | | | | | | | | | |
from Daniel Daniels's properties is working with a buyer customer. Susan is
| | | | | | | | | | | | |
representing the seller. Who is Daniel representing? - CORRECT ANSWER✔✔-The
| | | | | | | | | |
Seller
In Texas there is no ____ agency relationship with any party to a transaction. -
| | | | | | | | | | | | | | |
CORRECT ANSWER✔✔-Implied |
, The commission charged is negotiated between the ____ and the ____ -
| | | | | | | | | | | |
CORRECT ANSWER✔✔-Seller, broker | |
A broker's responsibility for disclosure is limited to areas: - CORRECT
| | | | | | | | | | |
ANSWER✔✔-Accessible for visual inspection | | |
According to TREC's advertising rules which of the following terms MUST be used
| | | | | | | | | | | | |
in a real estate team name? - CORRECT ANSWER✔✔-Group
| | | | | | | |
License holder must not disclose whether or not a former tenant had ____ to
| | | | | | | | | | | | | |
potential buyers - CORRECT ANSWER✔✔-AIDS or an HIV related disease
| | | | | | | | |
TREC'S advertising rules require agents to include the broker's name, the
| | | | | | | | | | |
brokerage name or the broker's _____ in at least 50%of the largest contact
| | | | | | | | | | | | |
information font on all forms of advertising. - CORRECT ANSWER✔✔-Assumed
| | | | | | | | | |
Name
Any stigma that relates to a material defect in a property must be______ -
| | | | | | | | | | | | | |
CORRECT ANSWER✔✔-Disclosed |
Subagency is: - CORRECT ANSWER✔✔-When a license holder not associated with
| | | | | | | | | | |
the sellers broker is representing the seller through a cooperative agreement with
| | | | | | | | | | |
the seller's broker.
| | |
A license holder is not required to provide the IABS when the license holder
| | | | | | | | | | | | | |
meets with a party who is: - CORRECT ANSWER✔✔-Represented by another
| | | | | | | | | | |
license holder |
