LAW OF AGENCY CHAMPIONS TEXAS REAL ESTATE EXAM LATEST QUESTIONS & CORRECT VERIFIED ANSWERS ALREADY GRADED A+

LAW OF AGENCY CHAMPIONS TEXAS REAL ESTATE EXAM LATEST QUESTIONS & CORRECT VERIFIED ANSWERS ALREADY GRADED A+,Which of the following has the authority to suspend or revoke a Texas real estate license? - TREC Which of the following is an element of a listing agreement? - the agreement to pay a stated commission, usually a percentage of the sales price the IRS considers which of the following a violation of independent contractor status? - salesperson is told to work set hours, guaranteed a monthly minimum wage, has his licensing fees paid by the broker the TAR buyer representation agreement in or text book: - authorizes intermediary, authorizes the buyer to give the agent complete loyalty, establishes an exclusive market area The amendments in 1996 to the License Act state that an agent is not liable for a misrepresentation or concealment of material fact by a party if: - The licensee did not know of the falsity of the misrepresentation One who hires an agent to represent him is called a: - principal It is always a good idea to have: - The seller fill out the Seller's Disclosure Notice A real estate brokerage firm that practices buyer agency only has a lot of intermediary transactions. - false Which of the following is a statutory defense for a lawsuit brought about by DTPA? - Written information obtained from a government record A licensee is not liable for a misrepresentation or a concealment of a material fact made by a party to a real estate transaction if the seller did not disclose it to the agent. - true Actual awareness of a falsity, deception, or unfairness of an act under DTPA is known as: - knowingly The TREC was established in: - 1949 an exemption to using the Information About Brokerage Services form is: - a lease for not more than 1 year listings can be terminated at any time by mutual agreement - true fiduciaries are: - Held to the highest degree of good faith, Required to exclude selfish interest, Require to make disclosures of all relevant facts According to TREC advertising rules, the definition of advertisement includes all of the following, EXCEPT: - Communication from a licensee to his or her client real estate agents owe certain non-fiduciary duties to customers such as: - honesty and fairness an unlicensed assistant may: - host an open house