Chapter 4

Question 1

Agency

Answer 1

Means a relationship in which a real state broker or licensee,whether directly or through an affiliated licensee, represents a consumer by the consumers consent, whether express or implied, in a real estate property transaction.

Question 2

A BROKERAGE AGREEMENT

Answer 2

Written or oral, between a sponsoring broker and a consumer for licensed activities..

Question 3

A CONSUMER

Answer 3

Means a person or entity seeking or receiving licensed activities.

Question 4

A CLIENT

Answer 4

Means a person who is being represented by a licensee.