ACEABLE LAW OF AGENCY EXAM 2024/2025 (3 EXAM VERSIONS PLUS A STUDY GUIDE) WITH 400 EXAM QUESTIONS AND CORRECT VERIFIED ANSWERS GRADED A+/ ACEABLE AGENT LAW OF AGENCY EXAM PREP TEST BANK (GUARANTEED PASS)
TREC has the ability to suspend or revoke a license if the license holder: -
ANSWER-All choices are correct.
TREC has the ability to suspend or revoke a license if the license holder is
dishonest, acts in bad faith, misrepresents a significant defect, or fails to disclose a
defect they are aware of.
An agency relationship exists when one person, the _________, acts for or on the
behalf of another person, the _________.
(a) Client, agent
(b) Agent, principal*
(c) Principal, agent
(d) Broker, customer - ANSWER-(b) Agent, principal
Mike is a broker at the 456 Realty Firm. He shows a potential buyer a property.
Mike does not represent the buyer. The ABC Realty Corporation is the listing
brokerage, and Mike is showing the listing with their consent. What is Mike? -
ANSWER-A subagent
TREC rules define _____________ as any form of communication by or on behalf
of a license holder designed to attract the public to use real estate brokerage
services
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