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Chapter 16 - Principles II

Pioneer School of Real Estate
Horizontales
A/An __ is responsible for the proper training of the sales agents.
The broker should communicate in __ the activities allowed to the agent in carrying out duties related to real estate sales.
A/An __ is an agent who assists two parties in a real estate transaction but does not represent either party.
If the consumer cannot prove that the conduct was committed knowingly or intentionally, the DTPA provides that the consumer may NOT collect for __ anguish.
This is the fiduciary duty that extends beyond termination of the agency.
__ agency results by the actions of the parties rather than oral or written agreements.
A misrepresentation claim cannot be made unless the plaintiff has been __.
The consumer may receive no more than__ times the economic damages for mental anguish if the act is committed knowingly.
Agency by __ is when a third party is led to believe that an agency relationship exists between the agent and the principal.
A licensee who does not work for the listing broker but is representing a client (seller) through a cooperative agreement with the sellers broker is a __.
A/An __ may work with an agent but without an agreement to be represented.
Verticales
The purpose of the DTPA is to __ the consumer.
There are __ fiduciary duties. (How many)
At a minimum the broker is to maintain records in a format that is readily available to the Commission for at least __ years from the date of closing, termination of the contract, or end of a real estate transaction.
The broker should always have a policy and procedures __.
The broker is responsible for the __ compliance of sponsored agents.
A person who holds a broker license and conducts business as the agent of another broker is known as a/an __ broker.
In its most basic form, __ can be described as a relationship between a principal and another person designated to act on behalf of the principal.
The Information About Brokerage Services (IABS) form is to be provided to a consumer during the first __ communication.
A broker owes the principal a full, fair and timely __ of all known facts relevant to the transaction.
The broker is hired by the __ to sell or locate a property in exchange for compensation.
Any license holder who leads, supervises, directs, or manages a team must be delegated as a/an __.
The __ relationship is built on trust, confidence, and good faith.
"__ damages" means compensatory damages for pecuniary loss, including costs of repair and replacement.
__ agency is illegal in Texas.
Consumers are protected under __ from false, misleading, and deceptive practices.
__ agency is created between the principal and the agent through an oral or written listing agreement or buyers representation agreement.