The Sarbanes-Oxley Act of 2002 provides for oversight of accounting firms but makes no provisions for increasing the flow of information to financial markets
Indicate whether the statement is true or false
FALSE
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To create an agency relationship, it is necessary that
a. A listing contract be registered with the DOS. b. The principal and agent sign a written agreement. c. The principal pay the agent's fees. d. The parties act as principal and agent.
The principle difference between the various required Natural Hazard Disclosures and the Transfer Disclosure Statement (TDS) is that:
A: The seller is responsible for making the disclosures, and the broker need not concern himself; B: The broker is primarily responsible for making the disclosures, not the seller; C: They only have to be provided if the seller has suffered actual property damage from the hazard, whereas the TDS must reveal known property defects regardless of whether any damage has occurred; D: The seller and/or the seller's agent must consult published maps of known hazard areas to detect and disclose relevant hazards, whereas the TDS requires disclosure of all known property defects.