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Champions Real Estate Exam Law of Agency Q&A Latest Update
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Champions Real Estate
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Champions Real Estate
Champions Real Estate Exam Law of Agency Q&A Latest Update
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| Uploaded on: | May 11, 2025 |
| Last updated: | May 12, 2025 |
| Number of pages: | 71 |
| Written in: | 2025/2026 |
| Type: | Exam (elaborations) |
| Contains: | Questions & Answers |
| Tags: | Champions Real Estate Exam Law of Agency Q&A Latest Update |
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Champions Real Estate Exam: Law of Agency Q&A Latest 2025/2026 | 100% PASS This person hires an agent - Answer -The Principal The agent works on behalf of this person - Answer -the client (principal) This type of agency allows for the greatest range of authority - Answer Universal This is provided to the agent when there is written documentation that the agency relationship exists. - Answer -Express authority This is the most limited of all the agency relationships - Answer -Special agency This type of agency is created when a 3rd party believes that an agent has authority that has NOT been granted by a principal - Answer Agency by Estoppel This type of agency is created when actions lead another person to assume that one is an agent (Example- you have a key to neighbors home and show the property) - Answer -Ostensible Agency If a buyer hasn't signed a buyer's rep agreement, then who is representing the buyer? - Answer -No one This establishes a relationship with a broker - Answer -The Buyer/Tenant Representation agreement
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