Legitimate power is based on a manager's position in the organization.

The Depository Institutions Deregulation and Monetary Control Act

a. established a system of central banks b. has resulted in more competition among depository institutions c. increased federal deposit insurance from $40,000 to $80,000 for each account d. established minimum capital requirements for banks with federal charters

An owner listed their property for $200,000 and instructed the agent not to present offers below $200,000. The agent receives a signed offer for $195,000. The agent should:

A. Reject the offer because of the low price. B. Refuse to present the offer. C. Promptly present the offer to the seller. D. Hold the offer until the purchaser increases the price to $200,000.