All of the following are required of a broker when seeking to collect a commission for brokering the sale of a property EXCEPT
A) Having a valid real estate broker's license
B) Having been procuring cause in the transaction or having an exclusive-right-to-sell agreement
C) Having had a contract of employment—an agency representation agreement
D) Complying with a set commission rate set by a trade organization
Answer: D) Complying with a set commission rate set by a trade organization
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Which of the following is representative of safeguarding assets?
A) attaching electronic sensors to merchandise inventory B) reducing expense to increase operating profit C) increasing operating profit to increase net income D) allowing company accountants to handle cash
When an agent, broker, or solicitor handles premiums for an insurer, they are acting in which of the following capacities?
A. Managing General Agent (MGA). B. A legal representative with power of attorney. C A natural person under the code. D. A fiduciary.