Texas Law of Agency - Chapter 9
Landlord
A property management agreement is signed between a broker and a/an...? Seller Buyer Landlord Tenant
Alex's original sponsoring broker
Alex is a real estate salesperson who recently signed a buyer representation agreement with a buyer; however, Alex decided to leave his broker for a new broker. Who owns Alex's buyer representation agreement...? Alex's new sponsoring broker Alex only Alex's original sponsoring broker Alex and his new sponsoring broker
Their sponsoring broker
An independent contractor agreement is signed between a real estate salesperson and...? Their sponsoring broker Their client Their customer Their principal
A gift card
An unlicensed individual may receive which of the following for referring a client to a broker...? A commission A 1% referral fee A gift card All of the above
Principal
The employer of a broker is known as the...? Customer Principal Partner Consultant
All of the above
Which of the following sections are included in an independent contract agreement...? Exclusive Association Associate's Authority Advertising All of the above
F (False)
A listing agreement is signed between a seller and a real estate salesperson...? T (True) F (False)
Independent contractor
A person who acts for another but who sells final results and whose methods of achieving those results are not subject to the control of another is known as a/an...? Employee Partner Independent contractor Client
Employee
A personal assistant serves as a/an ..........to their broker? Partner Employee Independent contractor Consultant
Host an open house
A personal assistant to a broker may perform which of the following acts...? Negotiate on the principal's behalf Sign a listing agreement on the broker's behalf Host an open house All of the above
Their sponsoring broker
A real estate salesperson may directly receive compensation from which of the following parties...? Their sponsoring broker The seller The buyer Any of the above
The salesperson is not required to be present in the broker's office
According to the Independent Contractor Agreement For Sales Associate, how often is a salesperson required to be present in the broker's office...? The salesperson is not required to be present in the broker's office 40 hours a week minimum 10 hours a week minimum 20 hours a week minimum
Texas Association of Realtors
According to the Independent Contractor Agreement For Sales Associate, the salesperson is a member of which associations...? All of the above Texas Institute of Realtors Texas Bureau of Real Estate Texas Association of Realtors
Associate
According to the independent contractor agreement, the real estate salesperson is referred to as the...? Client Associate Partner Principal
Independent contractor
The Employer's Supplemental Tax Guide helps a broker distinguish between an employee and a/an...? Partner Consultant Independent contractor Client
A real estate salesperson
Which of the following parties may be eligible to receive a referral fee for referring a client to broker...? A real estate salesperson An unlicensed friend A family member Anyone can receive a referral fee
Both the broker and agent
Which of the following parties must sign the Independent Contractor Agreement For Sales Associate form...? Both the broker and seller The broker only The agent only Both the broker and agent
The real estate salesperson
Who is responsible for paying the taxes on any commissions earned by a real estate salesperson...? The real estate salesperson The salesperson's sponsoring broker The salesperson's financial advisor The salesperson does not have to pay taxes
The sponsoring broker
Who owns any listing contracts secured by a real estate salesperson...? The real estate salesperson The seller The sponsoring broker Both the real estate salesperson and the broker
Employees
If a broker requires his/her agents to attend weekly training sessions, the IRS may classify the agents as...? Employees Independent contractors Partners Consultants
Either James or City Realty
James entered into an independent contractor agreement with City Realty. Which party may terminate the agreement...? City Realty only James only Either James or City Realty Neither James or City Realty
There is no standard term
Matthew signed an independent contractor agreement with his broker. What is the standard term used in the agreement...? 36 months 24 months There is no standard term 12 months
There is no standard term
What is the standard term of an independent contractor agreement...? 12 months 24 months 36 months There is no standard term
Employer's Supplemental Tax Guide
Which of the following may a broker use to help distinguish between an employee and an independent contractor...? TREC Tax Guide Employer's Supplemental Tax Guide NAR Tax Guide Texas Broker's Tax Guide