Types of Agency Relationships Quiz Attempt #3

Types of Agency Relationships Quiz Attempt #3

Time limit: 0

Quiz Summary

0 of 25 Questions completed

Questions:

Information

You have already completed the quiz before. Hence you can not start it again.

Quiz is loading…

You must sign in or sign up to start the quiz.

You must first complete the following:

Results

Quiz complete. Results are being recorded.

Results

0 of 25 Questions answered correctly

Your time:

Time has elapsed

You have reached 0 of 0 point(s), (0)

Earned Point(s): 0 of 0, (0)
0 Essay(s) Pending (Possible Point(s): 0)

Average score
Your score

Categories

Not categorized 0%

You must review the material for this section and reattempt the Agency Disclosure Quiz to proceed to the next section.

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

Current
Review
Answered
Correct
Incorrect

Question 1 of 25

1. Question
___is the legal but unethical exaggeration of a property’s benefits.
- Seller’s Agency
- Disclosure
- Puffing
- Meghan’s Law
- Fraud
Correct

Incorrect
Question 2 of 25

2. Question
The agency that is described as in-house sale where two agents of the same broker represent the seller and buyer individually is known as?
- Designated agency
- Assigned agency
- Appointed agency
- All the above
- None of the above
Correct

Incorrect
Question 3 of 25

3. Question
An agency may be terminated if any of the following occurs
- Client revokes the agreement prior to expiration
- Client goals are met
- Mutual agreement to terminate contract.
- All the above
- None of the above
Correct

Incorrect
Question 4 of 25

4. Question
The following is not a reason why an owner would hire a broker as a property manager?
- To sell the property
- To lease the property
- To market the property
- To manage the property
- None of the above
Correct

Incorrect
Question 5 of 25

5. Question
Universal agent is defined as
- Person who hold legal and ethical position of confidence and owes trust and loyalty to another
- Authorized to act on behalf of the principal for a broad range of business matters.
- Has unlimited authority being that they are permitted to do anything the principal could do personally
- Empowered to represent the principal in a single transaction
Correct

Incorrect
Question 6 of 25

6. Question
Non-agent is defined as
- A person who holds a legal and ethical position of confidence and owes trust and loyalty to another
- A person who is there to assist the seller and the buyer in the transaction and could be either a transaction broker, facilitator, contract broker, or transaction coordinator.
- An individual who is authorized to represent the interest of a buyer or seller in a transaction
- A principal in a real estate transaction
Correct

Incorrect
Question 7 of 25

7. Question
____ are authorized to act on behalf of a broad range of business matters.
- Principal
- Universal agent
- General agents
- Client
- Customer
Correct

Incorrect
Question 8 of 25

8. Question
A principal
- is a real estate licensee that works with the buyer and seller in a transaction but does not represent either party or their interests
- is a third party consumer that is not represented by an agent but deserving a particular level of service, fairness and honesty.
- is an individual who hires the agent to represent their interests
- is a person who holds a legal and ethical position of confidence and owes trust and loyalty to another
- is an individual who is authorized to represent the interest of a buyer or seller in a transaction
Correct

Incorrect
Question 9 of 25

9. Question
An agent
- is a real estate licensee that works with the buyer and seller in a transaction but does not represent either party or their interests
- is a person who holds a legal and ethical position of confidence and owes trust and loyalty to another
- is an individual who is authorized to represent the interest of a buyer or seller in a transaction
- is a principal in a real estate transaction
- is a third party consumer that is not represented by an agent but deserving a particular level of service, fairness and honesty.
Correct

Incorrect
Question 10 of 25

10. Question
A client
- is authorized to act on behalf of the principal for a broad range of business matters
- is an individual who is authorized to represent the interest of a buyer or seller in a transaction
- is a principal in a real estate transaction
- is a real estate licensee that works with the buyer and seller in a transaction but does not represent either party or their interests
- is a person who holds a legal and ethical position of confidence and owes trust and loyalty to another
Correct

Incorrect
Question 11 of 25

11. Question
A customer
- is a person who holds a legal and ethical position of confidence and owes trust and loyalty to another
- is a principal in a real estate transaction
- is a third party consumer that is not represented by an agent but is still deserving of a particular level of service, fairness, and honesty.
- is authorized to act on behalf of the principal for a broad range of business matters
- is a real estate licensee that works with the buyer and seller in a transaction but does not represent either party or their interests
Correct

Incorrect
Question 12 of 25

12. Question
A non-agent
- is a principal in a real estate transaction
- is a person who holds a legal and ethical position of confidence and owes trust and loyalty to another
- is a real estate licensee that works with the buyer and seller in a transaction but does not represent either party or their interests
- is an individual who is authorized to represent the interest of a buyer or seller in a transaction
- is a third party consumer that is not represented by an agent but is still deserving of a particular level of service, fairness, and honesty.
Correct

Incorrect
Question 13 of 25

13. Question
___is the legal but unethical exaggeration of a property’s benefits.
- Seller’s Agency
- Disclosure
- Puffing
- Meghan’s Law
- Fraud
Correct

Incorrect
Question 14 of 25

14. Question
An agency may be terminated if any of the following occurs
- Client revokes the agreement prior to expiration
- Client goals are met
- Mutual agreement to terminate contract.
- All the above
- None of the above
Correct

Incorrect
Question 15 of 25

15. Question
The following is not a reason why an owner would hire a broker as a property manager?
- To sell the property
- To lease the property
- To market the property
- To manage the property
- None of the above
Correct

Incorrect
Question 16 of 25

16. Question
Universal agent is defined as
- Person who hold legal and ethical position of confidence and owes trust and loyalty to another
- Authorized to act on behalf of the principal for a broad range of business matters.
- Has unlimited authority being that they are permitted to do anything the principal could do personally
- Empowered to represent the principal in a single transaction
Correct

Incorrect
Question 17 of 25

17. Question
____ are authorized to act on behalf of a broad range of business matters.
- Principal
- Universal agent
- General agents
- Client
- Customer
Correct

Incorrect
Question 18 of 25

18. Question
A principal
- is a real estate licensee that works with the buyer and seller in a transaction but does not represent either party or their interests
- is a third party consumer that is not represented by an agent but deserving a particular level of service, fairness and honesty.
- is an individual who hires the agent to represent their interests
- is a person who holds a legal and ethical position of confidence and owes trust and loyalty to another
- is an individual who is authorized to represent the interest of a buyer or seller in a transaction
Correct

Incorrect
Question 19 of 25

19. Question
An agent
- is a real estate licensee that works with the buyer and seller in a transaction but does not represent either party or their interests
- is a person who holds a legal and ethical position of confidence and owes trust and loyalty to another
- is an individual who is authorized to represent the interest of a buyer or seller in a transaction
- is a principal in a real estate transaction
- is a third party consumer that is not represented by an agent but deserving a particular level of service, fairness and honesty.
Correct

Incorrect
Question 20 of 25

20. Question
A client
- is authorized to act on behalf of the principal for a broad range of business matters
- is an individual who is authorized to represent the interest of a buyer or seller in a transaction
- is a principal in a real estate transaction
- is a real estate licensee that works with the buyer and seller in a transaction but does not represent either party or their interests
- is a person who holds a legal and ethical position of confidence and owes trust and loyalty to another
Correct

Incorrect
Question 21 of 25

21. Question
A customer
- is a person who holds a legal and ethical position of confidence and owes trust and loyalty to another
- is a principal in a real estate transaction
- is a third party consumer that is not represented by an agent but is still deserving of a particular level of service, fairness, and honesty.
- is authorized to act on behalf of the principal for a broad range of business matters
- is a real estate licensee that works with the buyer and seller in a transaction but does not represent either party or their interests
Correct

Incorrect
Question 22 of 25

22. Question
A non-agent
- is a principal in a real estate transaction
- is a person who holds a legal and ethical position of confidence and owes trust and loyalty to another
- is a real estate licensee that works with the buyer and seller in a transaction but does not represent either party or their interests
- is an individual who is authorized to represent the interest of a buyer or seller in a transaction
- is a third party consumer that is not represented by an agent but is still deserving of a particular level of service, fairness, and honesty.
Correct

Incorrect
Question 23 of 25

23. Question
Non-agent is defined as
- A person who holds a legal and ethical position of confidence and owes trust and loyalty to another
- A person who is there to assist the seller and the buyer in the transaction and could be either a transaction broker, facilitator, contract broker, or transaction coordinator.
- An individual who is authorized to represent the interest of a buyer or seller in a transaction
- A principal in a real estate transaction
Correct

Incorrect
Question 24 of 25

24. Question
The agency that is described as in-house sale where two agents of the same broker represent the seller and buyer individually is known as?
- Designated agency
- Assigned agency
- Appointed agency
- All the above
- None of the above
Correct

Incorrect
Question 25 of 25

25. Question
A buyer who is a broker’s client wants to purchase a house that the broker has listed with a seller. Which one is correct?
- An illegal dual agency is created.
- The buyer should not have been shown a house listed by the broker.
- The broker may proceed with the transaction if both parties give informed, written consent
- The broker should refer the buyer to another broker to negotiate the sale.
Correct

Incorrect

Login

Accessing this course requires a login. Please enter your credentials below!

Username or Email Address

Password

Remember Me

Lost Your Password?