medium · National Real Estate Exam agency
A broker is found guilty of commingling funds and their license is revoked.
What is the effect on the broker's active listings?
- They are transferred to the state real estate commission.
- They are terminated by operation of law.
- They remain valid if a salesperson takes over the firm.
- The sellers must pay the broker a pro-rated commission for work done.
Sign up free to see the explanation and track your rank →
More National Real Estate Exam agency practice
- If a broker's trust account contains earnest money for ten different transactions, and the
- An agency relationship that is created by a principal's actions leading a third party to r
- An agent's power to bind a principal to a contract is known as their:
- If a broker acts as a transaction coordinator (facilitator) and does not represent either
- If a person acts as an agent without prior authorization and the principal later accepts t
- If a seller instructs an agent to hide a known material defect in the property, the agent
- In a standard real estate transaction, to whom does the agent owe the full range of fiduci
- In which type of agency creation does the principal's silence or failure to object play a