an owner lists a property with a broker through an associate broker. which of the following would not terminate the agency relationship? The employing broker dies The property is destroyed by fire The associate broker dies The owner is declared mentally incompetent
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- The owner of a property has never lived in the property but holds title. In this case, the owner is OA) required to deliver the Residential Property Condition Disclosure Statement to the buyer. B) not required to deliver the Residential Property Condition Disclosure Statement to the buyer. OC) exempt from the delivery of the form because he has never lived in the property. OD) exempt from the delivery of the form because he holds title.A contract is entered into between Jane, a minor and Sisa, an insane person. Jose, the father of Jane ratified the contract. What is the status of the contract after ratification? * Rescissible Unenforceable Null and void VoidableWhich of the following is true? B. The agent is expected to carry out an agency although its execution would manifestly result in loss or damage to the principal. D. Agency is presumed to be for a compensation, unless there is proof to the contrary. A. The contract of agency is extinguished by the insanity of the agent but not of the principal. C. Two persons authorizing an agent to sell a property on their behalf are liable jointly to the agent.
- An insured is purchasing a Building and Personal Property Coverage Form (BPP) to cover her business. She asks the agent to explain how her property will be valued in the event of a loss. Which one of the following statements made by her agent accurately describes how the covered property will be valued in the event of loss? The insurer is obligated to pay replacement cost regardless of whether or not the property has actually been repaired or replaced. The insurer is obligated to pay the cost to replace the damaged or destroyed property with new property of like kind and quality without any deduction for depreciation or obsolescence. Insurers underwrite the coverage carefully because some items that can be difficult to value, such as manuscripts, works of art, antiques, and rare articles, are covered for replacement cost. If the insured elects to accept an ACV claim settlement, the insured is barred from later requesting payment of replacement cost.broker secured a contract on property he previously sold he advised the buyers they did not need to attorney or title Pina knew the history on the property Florida real estate license your law A) Broker failure to provide a reading opinion of title in violation of chapter 4 7-5 Florida statutes B) broker is required by the Florida bar to advise of perspective for changer to retain an attorney C) broker May render a title opinion so long as it's oral D) broker is required to advise a prospective buyer to consult an attorney or obtain a title insuranceA broker with a license in inactive status is permitted to do which of the following? a. Refer listings to the broker's previous Managing Broker for a fee. b. Conduct open houses on behalf of other licensees. c. Appraise real estate for a fee. d. Waive requirements for continuing education.
- . An insured dies in a fire at his/her home caused by careless smoking. What action will the insurer of the dwelling take? Deny the loss to building and contents as the insured caused the fire. Pay the loss to the building and contents to the insured's estate. Pay the building and contents loss into Court in trust. Be unable to pay the property loss as the named insured is no longer available to sign the proof of loss.Your insured is a tenant in an apartment building and has a Tenants Comprehensive policy arranged by your office. Due to his/her negligence, a fire occurs seriously damaging his/her own apartment and causing substantial damage to the apartments on the same floor. Which section of the Liability coverage would pay for building damage to his/her apartment • Voluntary Payment for Damage to Property (Coverage G). • Personal Liability (Coverage E). • No coverage. Property is rented or in his/her care, custody or control. • Not applicable. The loss would be covered under the Property section of his/her Tenants Comprehensive policy.A firm in which A, B and C were partners, placed an order with D for supplying certain goods on credit. Before D could supply the goods C died. D supplied the goods after C’s death, being totally ignorant about the fact. A and B subsequently became insolvent. Can D make C’s estate liable for his debt.
- Willy signs a lease to open a law office. The state legislature outlaws the private practice of law, thus rendering the lease worthless. When Willy fails to pay the rent, the landlord files a suit against Willy. Willy's best defense is that the purpose of the lease has been frustrated. an accord and satisfaction has occurred. a novation has occurred. the lease violated the Statue of Frauds.Why are sellers willing to pay a commission to a broker to facilitate the sale of their property? Take one of the 6 fiduciary responsibilities (COALDS). Explain how a breach of this responsibility (the agent not following it) could harm the principal in a real estate transaction. Why would a buyer want to have a contract with a real estate brokerage? What benefits would there be? Find a local real estate agency/brokerage and explore their website. Explain one thing you found that relates to what we learned in Chapter 12. What are some of the elements of a listing agreement? Why are these included?For Professionals, the benefit of an LLC, over a partnership, is that it: Group of answer choices A. Keeps a professional from having any liability, the LLC holds all the liability B. Allows professionals to purchase malpractice insurance C. Shields the professional from professional liability of their associates and partners D. Allows them to avoid all criminal liability