Exam: Law of Agency – Champions Ques ons and
answers Newest RATED A+ 2025/2026
Which of the following has the authority to suspend or revoke a Texas real estate license? -
CORRECT ANSWERS TREC
Which of the following is an element of a lis#ng agreement? - CORRECT ANSWERS the
agreement to pay a stated commission, usually a percentage of the sales price
the IRS considers which of the following a viola#on of independent contractor status? -
CORRECT ANSWERS salesperson is told to work set hours, guaranteed a monthly minimum
wage, has his licensing fees paid by the broker
the TAR buyer representa#on agreement in or text book: - CORRECT ANSWERS 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
misrepresenta#on or concealment of material fact by a party if: - CORRECT ANSWERS The
licensee did not know of the falsity of the misrepresenta#on
One who hires an agent to represent him is called a: - CORRECT ANSWERS principal
It is always a good idea to have: - CORRECT ANSWERS The seller fill out the Seller's Disclosure
No#ce
A real estate brokerage firm that prac#ces buyer agency only has a lot of intermediary
transac#ons. - CORRECT ANSWERS false
, Which of the following is a statutory defense for a lawsuit brought about by DTPA? - CORRECT
ANSWERS Wri2en informa#on obtained from a government record
A licensee is not liable for a misrepresenta#on or a concealment of a material fact made by a
party to a real estate transac#on if the seller did not disclose it to the agent. - CORRECT
ANSWERS true
Actual awareness of a falsity, decep#on, or unfairness of an act under DTPA is known as: -
CORRECT ANSWERS knowingly
The TREC was established in: - CORRECT ANSWERS 1949
an exemp#on to using the Informa#on About Brokerage Services form is: - CORRECT ANSWERS
a lease for not more than 1 year
lis#ngs can be terminated at any #me by mutual agreement - CORRECT ANSWERS true
fiduciaries are: - CORRECT ANSWERS Held to the highest degree of good faith, Required to
exclude selfish interest, Require to make disclosures of all relevant facts
According to TREC adver#sing rules, the defini#on of adver#sement includes all of the
following, EXCEPT: - CORRECT ANSWERS Communica#on from a licensee to his or her client
real estate agents owe certain non-fiduciary du#es to customers such as: - CORRECT ANSWERS
honesty and fairness
an unlicensed assistant may: - CORRECT ANSWERS host an open house
answers Newest RATED A+ 2025/2026
Which of the following has the authority to suspend or revoke a Texas real estate license? -
CORRECT ANSWERS TREC
Which of the following is an element of a lis#ng agreement? - CORRECT ANSWERS the
agreement to pay a stated commission, usually a percentage of the sales price
the IRS considers which of the following a viola#on of independent contractor status? -
CORRECT ANSWERS salesperson is told to work set hours, guaranteed a monthly minimum
wage, has his licensing fees paid by the broker
the TAR buyer representa#on agreement in or text book: - CORRECT ANSWERS 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
misrepresenta#on or concealment of material fact by a party if: - CORRECT ANSWERS The
licensee did not know of the falsity of the misrepresenta#on
One who hires an agent to represent him is called a: - CORRECT ANSWERS principal
It is always a good idea to have: - CORRECT ANSWERS The seller fill out the Seller's Disclosure
No#ce
A real estate brokerage firm that prac#ces buyer agency only has a lot of intermediary
transac#ons. - CORRECT ANSWERS false
, Which of the following is a statutory defense for a lawsuit brought about by DTPA? - CORRECT
ANSWERS Wri2en informa#on obtained from a government record
A licensee is not liable for a misrepresenta#on or a concealment of a material fact made by a
party to a real estate transac#on if the seller did not disclose it to the agent. - CORRECT
ANSWERS true
Actual awareness of a falsity, decep#on, or unfairness of an act under DTPA is known as: -
CORRECT ANSWERS knowingly
The TREC was established in: - CORRECT ANSWERS 1949
an exemp#on to using the Informa#on About Brokerage Services form is: - CORRECT ANSWERS
a lease for not more than 1 year
lis#ngs can be terminated at any #me by mutual agreement - CORRECT ANSWERS true
fiduciaries are: - CORRECT ANSWERS Held to the highest degree of good faith, Required to
exclude selfish interest, Require to make disclosures of all relevant facts
According to TREC adver#sing rules, the defini#on of adver#sement includes all of the
following, EXCEPT: - CORRECT ANSWERS Communica#on from a licensee to his or her client
real estate agents owe certain non-fiduciary du#es to customers such as: - CORRECT ANSWERS
honesty and fairness
an unlicensed assistant may: - CORRECT ANSWERS host an open house
