Question 25 of 100 Score: 1 (of possible1 Which of the following elements is not necessary for the creation of an agency relationship?
point)
A.A fiduciary relationshipB.Mutual agreement between principal and agentC.Payment of considerationD.A competent principalAnswer Key: C
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Explanation: Consideration is not necessary to the formation of an agency relationship; an agency may be gratuitous. Whether or not the agent is beingpaid, though, the relationship is always a fiduciary relationship.
Part 2 of 4 Chapters 4 , 5 , 6
Score: 8
(of possible
24
points)
Question 26 of 100 Score: 1 (of possible1 What adjustments are made by agents performing competitive market analyses?
point)
Question 27 of 100 Score: 1 (of possible1 Servicing a listing typically involves all of the following except
point)

Question 28 of 100 Score: 0 (of possible1 All of the following are typical tasks of a real estate assistant, except
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Question 29 of 100 Score: 0 (of possible1 Broker Ray is closely acquainted with the Subdivision Heights neighborhood of his town. Over the year, Ray has made it a practice to contact homeowners in person and also to send them quarterly mailings. This method of finding listings is known as:
point)
A. cullingB.knock and dropC.groomingD. farmingAnswer Key: DFeedbackExplanation: In farming, an agent chooses a neighborhood and focuses on building a reputation within that area.


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- Fall '17
- Janet Truscott