Texas Law of Agency Quiz Questions (120 questions)

One who acts for and with authority from another, called the principal, is known as a/an...?

• Agent

• Attorney

• Employee

• Partner

If an individual works as an associate broker, who must they work under...?

• An associate licensee

• An associate broker does not work under anyone

• A real estate salesperson

• A sponsoring broker

The Information About Brokerage Services form is presented by the broker to the...?

• Associate agent

• Escrow agent

• Agent

• Prospective client

Agency between a broker and principal is created through a/an...?

• Listing contract

• Purchase contract

• Independent contractor agreement

• Any of the above

The party the agent brings to the principal as a seller or buyer of the property is known as a/an...?

• Partner

• Customer

• Associate

• Associate

Which of the following can legally employ a real estate salesperson to work on their behalf...?

• An associate broker

• A real estate broker

• Another real estate salesperson

• A real estate associate

Which of the following has the highest authority in an agency relationship...?

• Real estate salesperson

• Real estate broker

• Associate licensee

• Associate broker

A real estate broker may sponsor which of the following...?

• Associate licensee

• Real estate salesperson

• Associate broker

• All of the above

A real estate broker works for which of the following in a transaction...?

• The customer

• The lender

• The principal

• All of the above

Statutory law is derived from which of the following...?

• Court decisions

• Legislation

• Judge rulings

• Common actions