GUIDE 2026 SOLVED QUESTIONS AND
CORRECT ANSWERS
●● agency by estoppel.
Answer: agency imposed by law when it is determined that ostensible
agency existed; used to create legal accountability for the agent or the
principal on whose behalf the agent acted
●● agency by ratification.
Answer: created when a license holder acts on behalf of but without
prior authorization of a principal and that principal accepts the license
holder's action after the fact
●● agency coupled with interest.
Answer: when an agent is involved in a real estate transaction with a
personal interest (either for themselves, a family member, or a business
interest)
●● disclosure of representation.
Answer: the act of explicitly informing all parties about whom an agent
is representing