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10 Cards in this Set
- Front
- Back
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A list of prospects regularly contacted by an agent in the hopes of making them clients is called a:
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sphere of influence.
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Errors and Omission Insurance:
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is a form of professional liability insurance. And protects agents and their brokers from catastrophic lawsuits.
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Upon close of escrow, a broker pays an agent a “straight commission” based on:
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a percentage of the selling price.
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An agent with a salesperson’s license can only work for:
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The correct answer is: one broker at a time.
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A salesperson who sells results rather than time, and whose physical conduct is not subject to the control of another is an:
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The correct answer is: independent contractor.
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The correct answer is: independent contractor.
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A listing agreement establishes a fiduciary relationship between a:
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A listing agreement establishes a fiduciary relationship between a:
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The correct answer is: broker and principal (seller).
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Dual agency exists when:
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a. two agents from the same office represent the buyer and seller in one transaction.
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An office run by one owner solely responsible for all decisions is a:
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The correct answer is: sole proprietorship.
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The illegal mixing of client and broker funds is:
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commingling.
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