Law of Agency - Champions School of Real
Estate Exam Questions With Correct
Answers
The principal is also known as - CORRECT ANSWER✔✔-client
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fiduciary relationship - CORRECT ANSWER✔✔-a relationship founded on trust and
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|confidence
Agency Relationship - CORRECT ANSWER✔✔-Exists when one person (the agent)
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acts for, or on
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behalf of another person (the principal).
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the principal - CORRECT ANSWER✔✔-is the one who hires and gives authority to
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the agent
|
Texas Real Estate License Act TRELA - CORRECT ANSWER✔✔-Was passed 1939.
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The purpose is to protect the public against unscrupulous brokers and sales
| | | | | | | | | | | |
agents.
Texas Real Estate Commission TREC - CORRECT ANSWER✔✔-Was created to
| | | | | | | | | |
enforce and administer TRELA in 1949. The purpose of this act is to protect the
| | | | | | | | | | | | | | |
public against unscrupulous brokers and sales agents.
| | | | | |
, A licensed broker may not pay a commission to or otherwise compensate a
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person directly or indirectly for performing an act of a broker unless the person
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is... - CORRECT ANSWER✔✔-a license holder or a real estate broker licensed in
| | | | | | | | | | | | |
another state |
TRELA may suspend or revoke a license or take other disciplinary action if the
| | | | | | | | | | | | | |
license holder, while engaged in real estate brokerage engages in... - CORRECT
| | | | | | | | | | | |
ANSWER✔✔-conduct that is dishonest or in bad faith or that demonstrates | | | | | | | | | | |
untrustworthiness
a broker works FOR - CORRECT ANSWER✔✔-a client
| | | | | | |
a broker works WITH - CORRECT ANSWER✔✔-a customer
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how does a buyer become a client - CORRECT ANSWER✔✔-by entering into a
| | | | | | | | | | | | |
buyer representation agreement with the broker
| | | | |
Subagent - CORRECT ANSWER✔✔-A license holder not associated with the
| | | | | | | | | |
seller's broker, but who is representing the seller through a cooperative
| | | | | | | | | | |
agreement, often through membership in a Multiple Listing Service (MLS), with
| | | | | | | | | | |
the seller's broker.
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An agency relationship exists when one person, the _____ acts for, or on behalf
| | | | | | | | | | | | | |
of another person, the ______ - CORRECT ANSWER✔✔-agent, principal
| | | | | | | |
Estate Exam Questions With Correct
Answers
The principal is also known as - CORRECT ANSWER✔✔-client
| | | | | | | |
fiduciary relationship - CORRECT ANSWER✔✔-a relationship founded on trust and
| | | | | | | | |
|confidence
Agency Relationship - CORRECT ANSWER✔✔-Exists when one person (the agent)
| | | | | | | | | |
acts for, or on
| | |
behalf of another person (the principal).
| | | | |
the principal - CORRECT ANSWER✔✔-is the one who hires and gives authority to
| | | | | | | | | | | | |
the agent
|
Texas Real Estate License Act TRELA - CORRECT ANSWER✔✔-Was passed 1939.
| | | | | | | | | | |
The purpose is to protect the public against unscrupulous brokers and sales
| | | | | | | | | | | |
agents.
Texas Real Estate Commission TREC - CORRECT ANSWER✔✔-Was created to
| | | | | | | | | |
enforce and administer TRELA in 1949. The purpose of this act is to protect the
| | | | | | | | | | | | | | |
public against unscrupulous brokers and sales agents.
| | | | | |
, A licensed broker may not pay a commission to or otherwise compensate a
| | | | | | | | | | | | |
person directly or indirectly for performing an act of a broker unless the person
| | | | | | | | | | | | | |
is... - CORRECT ANSWER✔✔-a license holder or a real estate broker licensed in
| | | | | | | | | | | | |
another state |
TRELA may suspend or revoke a license or take other disciplinary action if the
| | | | | | | | | | | | | |
license holder, while engaged in real estate brokerage engages in... - CORRECT
| | | | | | | | | | | |
ANSWER✔✔-conduct that is dishonest or in bad faith or that demonstrates | | | | | | | | | | |
untrustworthiness
a broker works FOR - CORRECT ANSWER✔✔-a client
| | | | | | |
a broker works WITH - CORRECT ANSWER✔✔-a customer
| | | | | | |
how does a buyer become a client - CORRECT ANSWER✔✔-by entering into a
| | | | | | | | | | | | |
buyer representation agreement with the broker
| | | | |
Subagent - CORRECT ANSWER✔✔-A license holder not associated with the
| | | | | | | | | |
seller's broker, but who is representing the seller through a cooperative
| | | | | | | | | | |
agreement, often through membership in a Multiple Listing Service (MLS), with
| | | | | | | | | | |
the seller's broker.
| |
An agency relationship exists when one person, the _____ acts for, or on behalf
| | | | | | | | | | | | | |
of another person, the ______ - CORRECT ANSWER✔✔-agent, principal
| | | | | | | |
