Exam: Law of Agency Champions 60 Questions with Update

Exam: Law of Agency – Champions 60 Questions with Answers Update
Question : Which of the following has the authority to
suspend or revoke a Texas real estate license?
Correct answer: TREC
Question : Which of the following is an element of a listing
agreement?
Correct answer: the agreement to pay a stated commission,
usually a percentage of the sales price
Question : the IRS considers which of the following a
violation of independent contractor status?
Correct answer: salesperson is told to work set hours,
a monthly minimum wage, has his licensing fees
paid by the broker
Question : the TAR buyer representation agreement in or text
book:
Correct answer: authorizes intermediary, authorizes the buyer
to give the agent complete loyalty, establishes an exclusive
market area

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