Agency
Agency Practice Question
The person who hires or appoints an agent is called the:
A
DeputyB
CustomerC
FiduciaryD
PrincipalExplanation
The principal is the person who authorizes an agent to act on their behalf. In real estate, the seller or buyer who hires an agent is the principal.
More Agency Questions
A fiduciary relationship exists between:
Which duty requires an agent to keep the principal informed of all material facts?
Dual agency occurs when:
An agent who exceeds the authority granted by the principal:
A broker who represents both the buyer and seller in the same transaction without the knowledge and consent of both parties is practicing:
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